0001|                            SENATE BILL 61
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0002|     43RD LEGISLATURE - STATE OF NEW MEXICO - FIRST SPECIAL SESSION, 1998
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0003|                            INTRODUCED BY
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0004|                            Leonard Tsosie
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0005|     
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0006|                                   
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0007|     
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0008|                                   
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0009|     
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0010|                                AN ACT
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0011|     RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF
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0012|     SEVERANCE TAX BONDS FOR CAPITAL PROJECTS; MAKING
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0013|     APPROPRIATIONS; REAUTHORIZING PRIOR APPROPRIATIONS; DECLARING
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0014|     AN EMERGENCY.
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0015|     
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0016|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017|          Section 1.  SEVERANCE TAX BONDS--AUTHORIZATIONS--
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0018|     APPROPRIATION OF PROCEEDS.--
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0019|               A.  The state board of finance may issue and sell
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0020|     severance tax bonds in compliance with the Severance Tax
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0021|     Bonding Act in an amount not to exceed the total of the
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0022|     amounts authorized for purposes specified in Sections 2 and 3
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0023|     of this act.  The state board of finance shall schedule the
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0024|     issuance and sale of the bonds in the most expeditious and
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0025|     economical manner possible upon a finding by the board that
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0001|     the project has been developed sufficiently to justify the
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0002|     issuance and that the project can proceed to contract within a
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0003|     reasonable time.  The state board of finance shall further
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0004|     take the appropriate steps necessary to comply with the
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0005|     Internal Revenue Code of 1986, as amended.  Proceeds from the
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0006|     sale of the bonds are appropriated for the purposes specified
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0007|     in Sections 2 and 3 of this act.
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0008|               B.  The agencies named in Sections 2 and 3 of this
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0009|     act shall certify to the state board of finance when the money
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0010|     from the proceeds of the severance tax bonds authorized in
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0011|     this section is needed for the purposes specified in the
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0012|     applicable section of this act.
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0013|               C.  If the specified agency has not certified the
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0014|     need for the issuance of the bonds by the end of fiscal year
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0015|     2000, the authorization provided in this act shall be void.
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0016|               D.  Unless otherwise specified in this act, any
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0017|     unexpended or unencumbered balance remaining from the proceeds
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0018|     of severance tax bonds issued pursuant to Sections 2 and 3 of
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0019|     this act at the end of fiscal year 2000 shall revert to the
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0020|     severance tax bonding fund.
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0021|          Section 2. SEVERANCE TAX BONDS--STATE DEPARTMENT OF
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0022|     PUBLIC EDUCATION--PURPOSE.--Pursuant to the provisions of
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0023|     Section 1 of this act, upon certification by the state
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0024|     department of public education that the need exists for the
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0025|     issuance of the bonds, eight million dollars ($8,000,000) is
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0001|     appropriated for the purpose of planning, designing,
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0002|     constructing, equipping or furnishing a high school in the
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0003|     Zuni school district in McKinley county.
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0004|          Section 3. SEVERANCE TAX BONDS--NEW MEXICO OFFICE OF
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0005|     INDIAN AFFAIRS--PURPOSE.--Pursuant to the provisions of
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0006|     Section 1 of this act, upon certification by the New Mexico
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0007|     office of Indian affairs that the need exists for the issuance
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0008|     of the bonds, three hundred thousand dollars ($300,000) is
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0009|     appropriated for the purpose of renovating, equipping or 
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0010|     furnishing a building in Crownpoint to be used as a court
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0011|     building in McKinley county.
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0012|          Section 4. STATE AGENCY ON AGING--REAUTHORIZING A
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0013|     SEVERANCE TAX BOND APPROPRIATION--CHANGING THE PURPOSE.--
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0014|     Notwithstanding the provisions of Subsections A and B of
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0015|     Section 1 of Chapter 118 of Laws 1998, the balance of the
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0016|     proceeds from the sale of severance tax bonds appropriated to
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0017|     the state agency on aging pursuant to Subsection U of Section
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0018|     2 of Chapter 118 of Laws 1998 to plan and design a senior
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0019|     center in Ojo Encino shall not be expended for its original
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0020|     purpose but is reauthorized and appropriated to the state
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0021|     agency on aging for the purpose of purchasing and installing a
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0022|     senior center in Ojo Encino in McKinley county.
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0023|          Section 5. PROJECT SCOPE--EXPENDITURES.--If an
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0024|     appropriation for a project authorized in this act is not
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0025|     sufficient to complete all the purposes specified, the
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0001|     appropriation may be expended for any portion of the purposes
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0002|     specified in the appropriation.  Expenditures shall not be
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0003|     made for purposes other than those specified in the
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0004|     appropriation.
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0005|          Section 6.  ART IN PUBLIC PLACES.--Pursuant to Section
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0006|     13-4A-4 NMSA 1978 and where applicable, the appropriations
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0007|     authorized in this act include one percent for the art in
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0008|     public places fund.
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0009|          Section 7.  EMERGENCY.--It is necessary for the public
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0010|     peace, health and safety that this act take effect
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0011|     immediately.
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0012|                              
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