0001|                        SENATE BILL 497
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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 FOR VARIOUS HEADSTART 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 six hundred thirty-five thousand
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0021|     dollars ($635,000) when the New Mexico office of Indian affairs
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0022|     certifies the need for the issuance of the bonds.  The state
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0023|     board of finance shall schedule the issuance and sale of the
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0024|     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 New
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0006|     Mexico office of Indian affairs in the following amounts for the
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0007|     following purposes:
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0008|                 (1)  two hundred eighty-five thousand dollars
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0009|     ($285,000) to design, construct or equip a new Nenahnezad
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0010|     headstart center in San Juan county; and
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0011|                 (2)  three hundred fifty thousand dollars
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0012|     ($350,000) to design, construct or equip a new Sheepsprings
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0013|     chapter headstart center in San Juan county.
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0014|            B.  If the New Mexico office of Indian affairs has
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0015|     not certified the need for the issuance of the bonds by the end
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0016|     of fiscal year 1998, the authorization provided in this section
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0017|     shall be void.  Any unexpended or unencumbered balance remaining
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0018|     from the proceeds of severance tax bonds issued pursuant to
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0019|     Subsection A of this section at the end of fiscal year 1999
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0020|     shall revert to the severance tax bonding fund. 
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0021|       Section 2.  EMERGENCY.--It is necessary for the public
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0022|     peace, health and safety that this act take effect immediately.
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0023|                                      
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0024|   
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0025|                    FORTY-SECOND LEGISLATURE
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0001|                      SECOND SESSION, 1996
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0002|   
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0003|   
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0004|                                              JANUARY 30, 1996
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0005|   
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0006|   Mr. President:
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0007|   
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0008|     Your COMMITTEES' COMMITTEE, to whom has been referred
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0009|   
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0010|                           SENATE BILL 497
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0011|   
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0012|   has had it under consideration and finds same to be GERMANE, PURSUANT
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0013|   TO CONSTITUTIONAL PROVISIONS, and thence referred to the INDIAN AND
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0014|   CULTURAL AFFAIRS COMMITTEE.
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0015|   
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0016|                              Respectfully submitted,
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0017|   
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0018|   
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0019|   
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0020|   
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0021|                              __________________________________
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0022|                              SENATOR MANNY M. ARAGON, Chairman 
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0023|   
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0024|   
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0025|   
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0001|   Adopted_______________________ Not Adopted_______________________
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0002|             (Chief Clerk)                        (Chief Clerk)
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0003|   
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0004|   
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0005|                     Date ________________________
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0006|   
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0007|   
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0008|   
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0009|     S0497CC1
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0010|   
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0011|                      FORTY-SECOND LEGISLATURE
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0012|                        SECOND SESSION, 1996
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0013|   
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0014|   
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0015|                                                   February 1, 1996
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0016|   
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0017|   Mr. President:
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0018|   
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0019|     Your INDIAN & CULTURAL AFFAIRS COMMITTEE, to whom has
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0020|   been referred
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0021|   
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0022|                           SENATE BILL 497
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0023|   
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0024|   has had it under consideration and reports same with recommendation that
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0025|   it DO PASS, and thence referred to the FINANCE COMMITTEE.
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0001|   
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0002|                              Respectfully submitted,
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0003|   
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0004|   
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0005|   
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0006|                              __________________________________
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0007|                              John Pinto, Chairman 
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0008|   
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0009|   
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0010|   
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0011|   Adopted_______________________ Not Adopted_______________________
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0012|             (Chief Clerk)                          (Chief Clerk)
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0013|   
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0014|   
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0015|   
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0016|                     Date ________________________
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0017|   
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0018|   
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0019|   The roll call vote was <u> 5 </u> For <u> 0 </u> Against
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0020|   Yes:  5
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0021|   No:        0
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0022|   Excused:   Maes, McKibben & Kysar
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0023|   Absent:    None
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0024|   
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0025|   S0497IC1
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0001|   
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