0001|                         A JOINT RESOLUTION
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0002| PROPOSING AN AMENDMENT TO ARTICLE 9, SECTION 10 OF THE CONSTITUTION OF
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0003| NEW MEXICO TO AUTHORIZE COUNTIES TO BORROW MONEY TO ACQUIRE REAL ESTATE
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0004| FOR OPEN SPACE AND OPEN SPACE-RELATED USES AND TO PURCHASE CAPITAL
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0005| EQUIPMENT FOR ROAD AND BRIDGE CONSTRUCTION AND REPAIR.
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0006| 
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0007| BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0008|      Section 1.  It is proposed to amend Article 9, Section 10 of the
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0009| constitution of New Mexico to read:
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0010|      "No county shall borrow money except for the following purposes:
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0011|           A.  erecting, remodeling and making additions to necessary
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0012| public buildings;
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0013|           B.  constructing or repairing public roads and bridges and
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0014| purchasing capital equipment for such projects;
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0015|           C.  constructing or acquiring a system for supplying water,

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0016| including the acquisition of water and water rights, necessary real
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0017| estate or rights-of-way and easements;
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0018|           D.  constructing or acquiring a sewer system, including the
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0019| necessary real estate or rights-of-way and easements;
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0020|           E.  constructing an airport or sanitary landfill, including
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0021| the necessary real estate; 
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0022|           F.  acquiring necessary real estate for open space, open
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0023| space trails and related areas and facilities; or
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0024|           G.  the purchase of books and other library resources for
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0025| libraries in the county.
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0001|      In such cases, indebtedness shall be incurred only after the
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0002| proposition to create such debt has been submitted to the registered
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0003| voters of the county and approved by a majority of those voting thereon. 
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0004| No bonds issued for such purpose shall run for more than fifty years. 
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0005| Provided, however, that no money derived from general obligation bonds
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0006| issued and sold hereunder shall be used for maintaining existing
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0007| buildings and, if so, such bonds shall be invalid."
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0008|      Section 2.  The amendment proposed by this resolution shall be
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0009| submitted to the people for their approval or rejection at the next
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0010| general election or at any special election prior to that date which may
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0011| be called for that purpose.
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