46th legislature - STATE OF NEW MEXICO - first session, 2003

RELATING TO NAVAJO NATION CAPITAL PROJECTS; CREATING A NAVAJO NATION CAPITAL OUTLAY RESERVE FUND; PROVIDING FOR DISBURSEMENT OF CERTAIN CAPITAL PROJECT APPROPRIATIONS.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. NAVAJO NATION CAPITAL OUTLAY RESERVE FUND--PURPOSE.--

A. The "Navajo Nation capital outlay reserve fund" is created in the state treasury. The fund shall consist of money appropriated for capital projects for the Navajo Nation, which shall be administered and disbursed by the New Mexico office of Indian affairs for the purposes for which the appropriations were made. Balances remaining from any capital project appropriation shall revert as provided by law.

B. From the amount appropriated to the fund for each capital project, the New Mexico office of Indian affairs may disburse up to ten percent of the appropriation to the Navajo Nation for that capital project before work commences, with the balance of the appropriation made on a cost-reimbursement basis. The New Mexico office of Indian affairs shall maintain a separate accounting of both advance and cost-reimbursement payments made to the Navajo Nation for each capital project.

C. The New Mexico office of Indian affairs, in cooperation with the state board of finance, shall provide by rule for implementation of the provisions of this section.