0001|                            HOUSE BILL 481
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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|                         JAMES ROGER MADALENA
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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 FOR CAPITAL PROJECTS IN SANDOVAL COUNTY;
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0013|     MAKING APPROPRIATIONS; 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--AUTHORIZATIONS--
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0017|     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
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0020|     Bonding Act in an amount not to exceed the total of the amounts
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0021|     authorized for purposes specified in Sections 2 through 4 of
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0022|     this act.  The state board of finance shall schedule the
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0023|     issuance and sale of the bonds in the most expeditious and
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0024|     economical manner possible upon a finding by the board that the
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0025|     project has been developed sufficiently to justify the issuance
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0001|     and that the project can proceed to contract within a
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0002|     reasonable time.  The state board of finance shall further take
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0003|     the appropriate steps necessary to comply with the Internal
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0004|     Revenue Code of 1986, as amended.  Proceeds from the sale of
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0005|     the bonds are appropriated for the purposes specified in
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0006|     Sections 2 through 4 of this act.
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0007|               B.  The agencies named in Sections 2 through 4 of
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0008|     this act shall certify to the state board of finance when the
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0009|     money from the proceeds of the severance tax bonds authorized
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0010|     in this section is needed for the purposes specified in the
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0011|     applicable section of this act.
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0012|               C.  If the specified agency has not certified the
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0013|     need for the issuance of the bonds by the end of fiscal year
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0014|     1999, the authorization provided in this act shall be void.
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0015|               D.  Unless otherwise specified in this act, any
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0016|     unexpended or unencumbered balance remaining from the proceeds
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0017|     of severance tax bonds issued pursuant to Sections 2 through 4
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0018|     of this act at the end of fiscal year 2000 shall revert to the
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0019|     severance tax bonding fund.
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0020|          Section 2.  SEVERANCE TAX BONDS--STATE AGENCY ON AGING--
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0021|     PURPOSES.--Pursuant to the provisions of Section 1 of this act,
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0022|     upon certification by the state agency on aging that the need
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0023|     exists for the issuance of the bonds, the following amounts are
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0024|     appropriated to the state agency on aging for the following
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0025|     purposes for projects located in Sandoval county:
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0001|               A.  one hundred fifty thousand dollars ($150,000) to
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0002|     complete an elderly daycare center at the pueblo of Cochiti;
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0003|               B.  twenty thousand dollars ($20,000) to purchase a
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0004|     van for senior citizens at the pueblo of Cochiti; and
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0005|               C.  three hundred twenty-one thousand one hundred
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0006|     ten dollars ($321,110) to expand the senior citizen center at
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0007|     the pueblo of San Felipe.
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0008|          Section 3.  SEVERANCE TAX BONDS--OFFICE OF CULTURAL
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0009|     AFFAIRS--PURPOSE.--Pursuant to the provisions of Section 1 of
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0010|     this act, upon certification by the office of cultural affairs
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0011|     that the need exists for the issuance of the bonds, fifteen
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0012|     thousand dollars ($15,000) is appropriated to the office of
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0013|     cultural affairs for the purpose of equipping a newly
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0014|     constructed library at the pueblo of Cochiti located in
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0015|     Sandoval county.
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0016|          Section 4.  SEVERANCE TAX BONDS--NEW MEXICO OFFICE OF
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0017|     INDIAN AFFAIRS--PURPOSES.--Pursuant to the provisions of
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0018|     Section 1 of this act, upon certification by the New Mexico
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0019|     office of Indian affairs that the need exists for the issuance
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0020|     of the bonds, the following amounts are appropriated to the New
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0021|     Mexico office of Indian affairs for the following purposes for
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0022|     projects located in Sandoval county:
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0023|               A.  thirty-eight thousand dollars ($38,000) to
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0024|     purchase a bus for headstart and youth service activities at
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0025|     the pueblo of Cochiti; and
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0001|               B.  two hundred thousand dollars ($200,000) to plan
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0002|     and design or install utility infrastructure in the Walatowa
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0003|     educational heritage center at the pueblo of Jemez.
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0004|          Section 5.  EMERGENCY.--It is necessary for the public
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0005|     peace, health and safety that this act take effect immediately.
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0006|                                  
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