0001|                   SENATE JOINT RESOLUTION 13
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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|                          ANN J. RILEY
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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|                       A JOINT RESOLUTION
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0012|     PROPOSING TO AMEND ARTICLE 9 OF THE CONSTITUTION OF NEW MEXICO
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0013|     TO PROVIDE THAT STATE AND LOCAL GOVERNMENT LEASE-PURCHASES OF
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0014|     CERTAIN NECESSARY PERSONAL PROPERTY ARE NOT DEBT AND DO NOT
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0015|     REQUIRE VOTER APPROVAL.
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0016|     
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0017|     BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0018|       Section 1.  It is proposed to amend Article 9 of the
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0019|     constitution of New Mexico by adding a new Section 17 to read:
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0020|       "The state and its political subdivisions and their
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0021|     agencies and instrumentalities may enter into contracts for
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0022|     lease-purchase of necessary durable personal property having an
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0023|     expected useful life of three years or more; provided that
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0024|     lease-purchase of buildings, improvements or other fixtures to
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0025|     real property and additions to or remodeling of such buildings
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0001|     or other fixtures are not within the purview of this section. 
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0002|     Any such lease-purchase shall be for a period not to exceed ten
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0003|     years or the expected useful life of the property, whichever is
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0004|     less.  The lease-purchase shall expressly provide that the
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0005|     obligation to pay in future fiscal years is contingent on the
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0006|     governing body's determination that sufficient funds and
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0007|     authority are available and that the governing body's
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0008|     determination is final and may not be appealed to any court. 
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0009|     The lease-purchase may provide for reversion to the lessor of
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0010|     the subject property if payments are discontinued based on the
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0011|     governing body's determination that sufficient funds or
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0012|     authority are not available or if any payment continues in
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0013|     default more than ninety days after it was due.  The lease-purchase shall provide that upon making the final payment, the
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0014|     property shall belong unconditionally to the governmental entity
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0015|     and may not revert to the lessor.  Any such lease-purchase shall
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0016|     not constitute the creation of debt within the meaning of any
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0017|     provision of this constitution, and the voters' approval at a
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0018|     referendum thereon is not required, any other provision of this
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0019|     constitution to the contrary notwithstanding."
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0020|       Section 2.  The amendment proposed by this resolution shall
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0021|     be submitted to the people for their approval or rejection at
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0022|     the next general election or at any special election prior to
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0023|     that date which may be called for that purpose.
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0024|                                    
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0025|   
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0001|                    FORTY-SECOND LEGISLATURE
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0002|                      SECOND SESSION, 1996
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0003|   
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0004|   
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0005|                                             February 10, 1996
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0006|   
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0007|   Mr. President:
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0008|   
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0009|     Your RULES COMMITTEE, to whom has been referred
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0010|   
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0011|                   SENATE JOINT RESOLUTION 13
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0012|   
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0013|   has had it under consideration and reports same with
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0014|   recommendation that it DO PASS, and thence referred to the WAYS
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0015|   AND MEANS COMMITTEE.
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0016|   
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0017|                              Respectfully submitted,
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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|                              Gloria Howes, 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|   The roll call vote was <u> 7 </u> For <u> 0 </u> Against
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0009|   Yes:  7
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0010|   No:        0
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0011|   Excused:   EJennings, Wray
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0012|   Absent:    0
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0013|   
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0014|   
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0015|   SJR13RU1
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0016|   
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0017|   
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