0001| SENATE BILL 274 | 0002| 42ND LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, | 0003| 1996 | 0004| INTRODUCED BY | 0005| ROMAN M. MAES | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| AN ACT | 0012| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0013| SEVERANCE TAX BONDS FOR CAPITAL IMPROVEMENTS IN THE CITY OF | 0014| SANTA FE LOCATED IN SANTA FE COUNTY; MAKING APPROPRIATIONS; | 0015| DECLARING AN EMERGENCY. | 0016| | 0017| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0018| Section 1. SEVERANCE TAX BONDS--AUTHORIZATIONS-- | 0019| APPROPRIATION OF PROCEEDS.-- | 0020| A. The state board of finance may issue and sell | 0021| severance tax bonds in compliance with the Severance Tax Bonding | 0022| Act in an amount not to exceed the total of the amounts | 0023| authorized for purposes specified in Sections 2 through 4 of | 0024| this act. The state board of finance shall schedule the | 0025| issuance and sale of the bonds in the most expeditious and | 0001| economical manner possible upon a finding by the board that the | 0002| project has been developed sufficiently to justify the issuance | 0003| and that the project can proceed to contract within a reasonable | 0004| time. The state board of finance shall further take the | 0005| appropriate steps necessary to comply with the Internal Revenue | 0006| Code of 1986, as amended. Proceeds from the sale of the bonds | 0007| are appropriated for the purposes specified in Sections 2 | 0008| through 4 of this act. | 0009| B. The agencies named in Sections 2 through 4 of | 0010| this act shall certify to the state board of finance when the | 0011| money from the proceeds of the severance tax bonds authorized in | 0012| this section is needed for the purposes specified in the | 0013| applicable section of this act. | 0014| C. If the specified agency has not certified the | 0015| need for the issuance of the bonds by the end of fiscal year | 0016| 1998, the authorization provided in this act shall be void. | 0017| D. Unless otherwise specified in this act, any | 0018| unexpended or unencumbered balance remaining from the proceeds | 0019| of severance tax bonds issued pursuant to Sections 2 through 4 | 0020| of this act at the end of fiscal year 1999 shall revert to the | 0021| severance tax bonding fund. | 0022| Section 2. SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND | 0023| ADMINISTRATION--PURPOSES.--Pursuant to the provisions of Section | 0024| 1 of this act, upon certification by the local government | 0025| division of the department of finance and administration that | 0001| the need exists for the issuance of the bonds, the following | 0002| amounts are appropriated to the local government division of the | 0003| department of finance and administration for the following | 0004| purposes: | 0005| A. three million one hundred fifty thousand dollars | 0006| ($3,150,000) to design and construct improvements to Salvador | 0007| Perez pool and park in the city of Santa Fe located in Santa Fe | 0008| county; | 0009| B. five hundred thousand dollars ($500,000) to plan, | 0010| design and construct a business incubator facility in the city | 0011| of Santa Fe located in Santa Fe county; | 0012| C. two million sixty thousand dollars ($2,060,000) | 0013| to plan and design trail corridors to connect various parks in | 0014| the city of Santa Fe located in Santa Fe county; | 0015| D. seven hundred thousand dollars ($700,000) to | 0016| acquire land for open-space parks in the city of Santa Fe | 0017| located in Santa Fe county; | 0018| E. one million eight hundred sixty thousand dollars | 0019| ($1,860,000) for land reclamation and to plan, design and | 0020| construct an inner city park for the city of Santa Fe located in | 0021| Santa Fe county; | 0022| F. one million five hundred thousand dollars | 0023| ($1,500,000) to plan, design and construct a community center in | 0024| the city of Santa Fe located in Santa Fe county; | 0025| G. two hundred fifty thousand dollars ($250,000) to | 0001| plan and design improvements to Franklin Miles park in the city | 0002| of Santa Fe located in Santa Fe county; and | 0003| H. five hundred thousand dollars ($500,000) to | 0004| construct improvements to the Santa Fe river channel in the city | 0005| of Santa Fe located in Santa Fe county. | 0006| Section 3. SEVERANCE TAX BONDS--STATE HIGHWAY AND | 0007| TRANSPORTATION DEPARTMENT--PURPOSE.--Pursuant to the provisions | 0008| of Section 1 of this act, upon certification by the state | 0009| highway and transportation department that the need exists for | 0010| the issuance of the bonds, three million dollars ($3,000,000) is | 0011| appropriated to the state highway and transportation department | 0012| for the purpose of continuing construction of the Santa Fe | 0013| relief route between Airport road and United States highway 285 | 0014| in the city of Santa Fe located in Santa Fe county. | 0015| Section 4. SEVERANCE TAX BONDS--OFFICE OF CULTURAL | 0016| AFFAIRS--PURPOSE.--Pursuant to the provisions of Section 1 of | 0017| this act, upon certification by the office of cultural affairs | 0018| that the need exists for the issuance of the bonds, seventy-five | 0019| thousand dollars ($75,000) is appropriated to the office of | 0020| cultural affairs for the purpose of planning and designing a | 0021| cultural museum in the city of Santa Fe located in Santa Fe | 0022| county. | 0023| Section 5. EMERGENCY.--It is necessary for the public | 0024| peace, health and safety that this act take effect immediately. | 0025|  | 0001| | 0002| | 0003| FORTY-SECOND LEGISLATURE | 0004| SECOND SESSION, 1996 | 0005| | 0006| | 0007| JANUARY 26, 1996 | 0008| | 0009| Mr. President: | 0010| | 0011| Your COMMITTEES' COMMITTEE, to whom has been referred | 0012| | 0013| SENATE BILL 274 | 0014| | 0015| has had it under consideration and finds same to be GERMANE, PURSUNAT | 0016| TO CONSTITUTIONAL PROVISIONS, and thence referred to the FINANCE | 0017| COMMITTEE. | 0018| | 0019| Respectfully submitted, | 0020| | 0021| | 0022| | 0023| | 0024| __________________________________ | 0025| SENATOR MANNY M. ARAGON, Chairman | 0001| | 0002| | 0003| | 0004| Adopted_______________________ Not Adopted_______________________ | 0005| (Chief Clerk) (Chief Clerk) | 0006| | 0007| | 0008| Date ________________________ | 0009| | 0010| | 0011| | 0012| S0274CC1 |