0001| HOUSE BILL 115
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0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0003| INTRODUCED BY
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0004| SAMUEL F. VIGIL
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0005|
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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| AN ACT
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0011| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF
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0012| SEVERANCE TAX BONDS TO EXPAND THE LAS VEGAS WATER PLANT IN SAN
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0013| MIGUEL COUNTY; MAKING AN APPROPRIATION; DECLARING AN EMERGENCY.
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0014|
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0015| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0016| Section 1. SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED-
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0017| -APPROPRIATION OF PROCEEDS.--The state board of finance may
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0018| issue and sell severance tax bonds in compliance with the
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0019| Severance Tax Bonding Act in an amount not exceeding three
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0020| million dollars ($3,000,000) when the department of environment
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0021| certifies the need for the issuance of the bonds. The state
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0022| board of finance shall schedule the issuance and sale of the
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0023| bonds in the most expeditious and economical manner possible
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0024| upon a finding by the board that the project has been developed
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0025| sufficiently to justify the issuance and that the project can
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0001| proceed to contract within a reasonable time. The state board
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0002| of finance shall further take the appropriate steps necessary
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0003| to comply with the Internal Revenue Code of 1986, as amended.
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0004| The proceeds from the sale of the bonds are appropriated to the
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0005| department of environment for the purpose of expanding the Las
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0006| Vegas water plant in San Miguel county to meet anticipated
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0007| future population needs. Any unexpended or unencumbered
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0008| balance remaining at the end of fiscal year 2000 shall revert
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0009| to the severance tax bonding fund. If the department of
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0010| environment has not certified the need for the issuance of the
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0011| bonds by the end of fiscal year 1999, the authorization
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0012| provided in this section shall be void.
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0013| Section 2. EMERGENCY.--It is necessary for the public
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0014| peace, health and safety that this act take effect immediately.
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0015|
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0016|
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0017|
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0018| FORTY-THIRD LEGISLATURE
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0019| FIRST SESSION, 1997
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0020|
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0021|
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0022| March 4, 1997
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0023|
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0024| Mr. President:
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0025|
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0001| Your FINANCE COMMITTEE, to whom has been referred
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0002|
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0003| HOUSE BILL 155
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0004|
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0005| has had it under consideration and reports same with
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0006| recommendation that it DO PASS.
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0007|
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0008| Respectfully submitted,
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0009|
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0010|
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0011|
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0012|
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0013| __________________________________
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0014| Ben D. Altamirano, Chairman
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0015|
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0016|
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0017|
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0018| Adopted_______________________ Not
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0019| Adopted_______________________
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0020| (Chief Clerk) (Chief Clerk)
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0021|
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0022|
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0023|
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0024| Date ________________________
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0025|
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0001|
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0002| The roll call vote was 6 For 0 Against
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0003| Yes: 6
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0004| No: None
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0005| Excused: Carraro, Eisenstadt, Ingle, Lyons, McKibben
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0006| Absent: None
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0007|
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0008|
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0009| H0155FC1
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0010|
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0011|
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0012| FORTY-THIRD LEGISLATURE
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0013| FIRST SESSION, 1997
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0014|
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0015|
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0016| March 4, 1997
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0017|
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0018| Mr. President:
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0019|
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0020| Your FINANCE COMMITTEE, to whom has been referred
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0021|
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0022| HOUSE BILL 155
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0023|
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0024| has had it under consideration and reports same with
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0025| recommendation that it DO PASS.
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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| __________________________________
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0008| Ben D. Altamirano, Chairman
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0009|
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0010|
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0011|
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0012| Adopted_______________________ Not
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0013| Adopted_______________________
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0014| (Chief Clerk) (Chief Clerk)
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0015|
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0016|
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0017|
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0018| Date ________________________
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0019|
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0020|
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0021| The roll call vote was For Against
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0022| Yes:
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0023| No:
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0024| Excused:
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0025| Absent: None
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0001|
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0002|
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0003| H0155FC1
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