0001| SENATE BILL 180
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0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION,
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0003| 1996
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0004| INTRODUCED BY
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0005| CHRISTINE A. DONISTHORPE
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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|
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0011| AN ACT
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0012| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF
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0013| SEVERANCE TAX BONDS TO PURCHASE EQUIPMENT AND SUPPLIES AND
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0014| CONTINUE THE RENOVATION OF BLOOMFIELD ALTERNATIVE SCHOOL IN THE
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0015| CITY OF BLOOMFIELD IN SAN JUAN COUNTY; MAKING AN APPROPRIATION;
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0016| DECLARING AN EMERGENCY.
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0017|
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0018| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0019| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--The state board of finance may issue
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0020| and sell severance tax bonds in compliance with the Severance
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0021| Tax Bonding Act in an amount not exceeding three hundred fifty
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0022| thousand dollars ($350,000) when the state department of public
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0023| education certifies the need for the issuance of the bonds. The
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0024| state board of finance shall schedule the issuance and sale of
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0025| the bonds in the most expeditious and economical manner possible
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0001| upon a finding by the board that the project has been developed
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0002| sufficiently to justify the issuance and that the project can
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0003| proceed to contract within a reasonable time. The state board
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0004| of finance shall further take the appropriate steps necessary to
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0005| comply with the Internal Revenue Code of 1986, as amended. The
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0006| proceeds from the sale of the bonds are appropriated to the
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0007| state department of public education for the purpose of
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0008| purchasing equipment and supplies for student programs and for
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0009| continuing renovation to accommodate additional students at
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0010| Bloomfield alternative school located in San Juan county. Any
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0011| unexpended or unencumbered balance remaining at the end of
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0012| fiscal year 1999 shall revert to the severance tax bonding fund.
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0013| If the state department of public education has not certified
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0014| the need for the issuance of the bonds by the end of fiscal year
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0015| 1998, the authorization provided in this section shall be void.
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0016| Section 2. EMERGENCY.--It is necessary for the public
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0017| peace, health and safety that this act take effect immediately.
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0018|
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0019|
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0020|
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0021| FORTY-SECOND LEGISLATURE
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0022| SECOND SESSION, 1996
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0023|
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0024|
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0025| JANUARY 24, 1996
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0001|
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0002| Mr. President:
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0003|
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0004| Your COMMITTEES' COMMITTEE, to whom has been referred
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0005|
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0006| SENATE BILL 180
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0007|
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0008| has had it under consideration and finds same to be GERMANE, PURSUANT
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0009| TO CONSTITUTIONAL PROVISIONS, and thence referred to the EDUCATION
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0010| COMMITTEE.
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0011|
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0012| Respectfully submitted,
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0013|
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0014|
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0015|
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0016|
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0017| __________________________________
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0018| SENATOR MANNY M. ARAGON, Chairman
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0019|
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0020|
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0021|
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0022| Adopted_______________________ Not Adopted_______________________
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0023| (Chief Clerk) (Chief Clerk)
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0024|
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0025|
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0001| Date ________________________
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0002|
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0003|
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0004|
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0005| S0180CC1
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0006|
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0007| FORTY-SECOND LEGISLATURE
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0008| SECOND SESSION, 1996
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0009|
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0010|
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0011| February 1, 1996
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0012|
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0013| Mr. President:
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0014|
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0015| Your EDUCATION COMMITTEE, to whom has been referred
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0016|
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0017| SENATE BILL 180
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0018|
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0019| has had it under consideration and reports same with recommendation that
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0020| it DO PASS, and thence referred to the FINANCE COMMITTEE.
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0021|
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0022| Respectfully submitted,
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0023|
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0024|
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0025|
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0001| __________________________________
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0002| Carlos R. Cisneros, Chairman
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0003|
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0004|
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0005|
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0006| Adopted_______________________ Not Adopted_______________________
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0007| (Chief Clerk) (Chief Clerk)
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0008|
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0009|
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0010| Date ________________________
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0011|
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0012|
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0013| The roll call vote was 7 For 0 Against
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0014| Yes: 7
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0015| No: 0
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0016| Excused: Carraro, Duran, Lyons
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0017| Absent: None
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0018|
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0019|
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0020| S0180ED1
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0021|
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0022|
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