0001|                               AN ACT
    |
0002| RELATING TO SCHOOL DISTRICTS; PROVIDING SCHOOL DISTRICTS WITH THE
    |
0003| AUTHORITY TO ISSUE GENERAL OBLIGATION BONDS TO PURCHASE COMPUTER
    |
0004| EQUIPMENT; INCLUDING THE PURCHASE OF COMPUTER EQUIPMENT WITHIN
    |
0005| THE DEFINITION OF PUBLIC SCHOOL CAPITAL IMPROVEMENTS; AMENDING THE
    |
0006| PUBLIC SCHOOL CODE. 
    |
0007| 
    |
0008| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:          Section 1.  Section 22-18-1 NMSA 1978 (being Laws 1967, Chapter 16, Section 228) is
    |
0009| amended to read:
    |
0010|      "22-18-1.  GENERAL OBLIGATION BONDS--AUTHORITY TO ISSUE.--Subject to
    |
0011| the provisions of Article 9, Section 11 of the constitution of New Mexico and Sections 6-15-1
    |
0012| and 6-15-2 NMSA 1978, a school district may issue general obligation bonds for the purpose of
    |
0013| erecting, remodeling, making additions to and furnishing school buildings, purchasing or
    |

0014| improving school grounds, purchasing computer software and hardware for student use in public
    |
0015| schools or any combination of these purposes.  The bonds shall be fully negotiable and constitute
    |
0016| negotiable instruments within the meaning and for all purposes of the Uniform Commercial
    |
0017| Code."
    |
0018|      Section 2.  Section 22-25-2 NMSA 1978 (being Laws 1975 (S.S.), Chapter 5, Section 2,
    |
0019| as amended) is amended to read:
    |
0020|      "22-25-2.  DEFINITIONS.--As used in the Public School Capital Improvements Act:
    |
0021|           A.  "program unit" means the product of the program element multiplied by the
    |
0022| applicable cost differential factor, as defined in Section 22-8-2 NMSA 1978; and
    |
0023|           B.  "capital improvements" means expenditures, exclusive of any debt service
    |
0024| expenses, for:
    |
0025|                (1)  erecting, remodeling, making additions to, providing equipment for or
    |
0001| furnishing public school buildings;
    |
0002|                (2)  purchasing or improving public school grounds;
    |
0003|                (3)  maintenance of public school buildings or public school grounds,
    |
0004| exclusive of salary expenses of school district employees;
    |
0005|                (4)  purchasing activity vehicles for transporting students to
    |
0006| extracurricular school activities; and
    |
0007|                (5)  purchasing computer software and hardware for student use in
    |
0008|                                                               public school classrooms."                   
    |
0009|                                                               
    |