0001|                        SENATE BILL 496
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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|                           JOHN PINTO
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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 BUILD NEW SENIOR CENTERS IN SAN JUAN
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0014|     COUNTY; MAKING AN APPROPRIATION; DECLARING AN EMERGENCY.
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0015|     
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0016|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017|       Section 1.  SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED--APPROPRIATION OF PROCEEDS.--
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0018|            A.  The state board of finance may issue and sell
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0019|     severance tax bonds in compliance with the Severance Tax Bonding
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0020|     Act in an amount not exceeding one million seventy-five thousand
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0021|     seventy-eight dollars ($1,075,078) when the state agency on
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0022|     aging certifies the need for the issuance of the bonds.  The
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0023|     state board of finance shall schedule the issuance and sale of
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0024|     the bonds in the most expeditious and economical manner possible
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0025|     upon a finding by the board that the project has been developed
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0001|     sufficiently to justify the issuance and that the project can
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0002|     proceed to contract within a reasonable time.  The state board
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0003|     of finance shall further take the appropriate steps necessary to
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0004|     comply with the Internal Revenue Code of 1986, as amended.  The
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0005|     proceeds from the sale of the bonds are appropriated to the
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0006|     state agency on aging in the following amounts for the following
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0007|     purposes:
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0008|                 (1)  five hundred thirty-seven thousand dollars
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0009|     ($537,000) to construct and erect the Nenahnezad chapter
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0010|     multipurpose and senior citizens complex in San Juan county;
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0011|                 (2)  three hundred forty-five thousand five
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0012|     hundred dollars ($345,500) to purchase, locate, install and
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0013|     construct a modular Cudei chapter senior citizen center in San
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0014|     Juan county; and
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0015|                 (3)  one hundred ninety-two thousand five
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0016|     hundred seventy-eight dollars ($192,578) to design, construct
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0017|     and equip the Shiprock agency new senior center facility
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0018|     infrastructure in San Juan county.
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0019|            B.  If the state agency on aging has not certified
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0020|     the need for the issuance of the bonds by the end of fiscal year
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0021|     1998, the authorization provided in this section shall be void. 
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0022|     Any unexpended or unencumbered balance remaining from the
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0023|     proceeds of severance tax bonds issued pursuant to Subsection A
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0024|     of this section at the end of fiscal year 1999 shall revert to
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0025|     the severance tax bonding fund. 
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0001|       Section 2.  EMERGENCY.--It is necessary for the public
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0002|     peace, health and safety that this act take effect immediately.
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0003|                                      
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0004|   
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0005|                    FORTY-SECOND LEGISLATURE
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0006|                      SECOND SESSION, 1996
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0007|   
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0008|   
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0009|                                              JANUARY 30, 1996
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0010|   
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0011|   Mr. President:
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0012|   
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0013|     Your COMMITTEES' COMMITTEE, to whom has been referred
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0014|   
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0015|                           SENATE BILL 496
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0016|   
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0017|   has had it under consideration and finds same to be GERMANE, PURSUANT

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0018|   TO CONSTITUTIONAL PROVISIONS, and thence referred to the  INDIAN AND
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0019|   CULTURAL AFFAIRS COMMITTEE.
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0020|   
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0021|                              Respectfully submitted,
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0022|   
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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|                              SENATOR MANNY M. ARAGON, 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|   
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0014|     S0496CC1
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0015|   
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0016|                      FORTY-SECOND LEGISLATURE
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0017|                        SECOND SESSION, 1996
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0018|   
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0019|   
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0020|                                                   February 1, 1996
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0021|   
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0022|   Mr. President:
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0023|   
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0024|     Your INDIAN & CULTURAL AFFAIRS COMMITTEE, to whom has
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0025|   been referred
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0001|   
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0002|                           SENATE BILL 496
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0003|   
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0004|   has had it under consideration and reports same with recommendation that
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0005|   it DO PASS, and thence referred to the FINANCE COMMITTEE.
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0006|   
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0007|                              Respectfully submitted,
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0008|   
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0009|   
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0010|   
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0011|                              __________________________________
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0012|                              John Pinto, Chairman 
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0013|   
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0014|   
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0015|   
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0016|   Adopted_______________________ Not Adopted_______________________
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0017|             (Chief Clerk)                          (Chief Clerk)
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0018|   
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0019|   
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0020|   
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0021|                     Date ________________________
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0022|   
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0023|   
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0024|   The roll call vote was <u> 5 </u> For <u> 0 </u> Against
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0025|   Yes:  5
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0001|   No:        0
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0002|   Excused:   Maes, McKibben & Kysar
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0003|   Absent:    None
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0004|   
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0005|   
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0006|   S0496IC1
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0007|   
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