0001| HOUSE BILL 496 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| G. X. MCSHERRY | 0005| | 0006| | 0007| | 0008| FOR THE NEW MEXICO FINANCE AUTHORITY OVERSIGHT COMMITTEE | 0009| | 0010| AN ACT | 0011| RELATING TO COUNTY FLOOD CONTROL; AUTHORIZING A BOARD OF COUNTY | 0012| COMMISSIONERS TO BORROW MONEY FROM THE NEW MEXICO FINANCE | 0013| AUTHORITY FOR FLOOD CONTROL PURPOSES. | 0014| | 0015| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0016| Section 1. Section 4-50-2 NMSA 1978 (being Laws 1921, | 0017| Chapter 163, Section 2, as amended) is amended to read: | 0018| "4-50-2. TAX LEVY--COUNTY FLOOD FUND--AUTHORITY TO | 0019| BORROW.--A board of county commissioners, upon certification of | 0020| the need and estimated cost by the county flood commissioner, | 0021| may contract to borrow funds through state or federal agencies | 0022| or through the New Mexico finance authority for flood control | 0023| purposes and may levy an annual tax at a rate not to exceed one | 0024| dollar fifty cents ($1.50), or any lower maximum amount | 0025| required by operation of the rate limitation provisions of | 0001| Section 7-37-7.1 NMSA 1978 upon a tax imposed under this | 0002| section, on each one thousand dollars ($1,000) of net taxable | 0003| value, as that term is defined in the Property Tax Code, of all | 0004| the taxable property located within five miles of both sides of | 0005| any river or stream which contributes to or is subject to flood | 0006| conditions destructive to property or dangerous to human life. | 0007| Such taxes shall be levied and collected for the purpose of | 0008| creating a fund which shall be used to construct and maintain | 0009| dikes, dams, embankments, ditches or such other structures or | 0010| excavations necessary to prevent flood waters from damaging | 0011| property or human life within such counties or to repay, | 0012| according to their terms, any state or federal loans obtained | 0013| for flood control purposes. Such tax shall be assessed, levied | 0014| and collected as other taxes are collected and when so | 0015| collected shall be known as the "county flood fund", and such | 0016| fund shall be maintained in such a manner as to keep separate | 0017| records of all flood control taxes collected from each stream | 0018| or river drainage area. The taxes collected shall only be used | 0019| and disbursed for flood control projects in the drainage area | 0020| for which they were assessed in accordance with the provisions | 0021| of Sections 4-50-1 through 4-50-9 NMSA 1978 and shall not be | 0022| transferred to any other fund or purpose." | 0023| Section 2. Section 4-50-6 NMSA 1978 (being Laws 1921, | 0024| Chapter 163, Section 6, as amended) is amended to read: | 0025| "4-50-6. LIMIT ON INDEBTEDNESS--PAYMENT OF EXPENSES.-- | 0001| A. No expense or indebtedness shall be incurred by | 0002| any county flood commissioner in excess of the amount of any | 0003| annual levy, excepting where there may be remaining on hand | 0004| funds arising from previous similar levies; provided, however, | 0005| that where a board of county commissioners, upon the | 0006| recommendation of the county flood commissioner, contracts to | 0007| borrow funds from a state or federal agency or from the New | 0008| Mexico finance authority for flood control projects and | 0009| pledges the proceeds of the annual levies for their repayment, | 0010| the amount which may be borrowed shall be limited by the terms | 0011| of repayment so that no annual installment of principal and | 0012| interest shall exceed eighty percent of the amount produced by | 0013| the annual levy in the year preceding the signing of the loan | 0014| agreement. | 0015| B. All expenses and indebtedness incurred by any | 0016| county flood commissioner under the provisions of Sections | 0017| ~~[15-50-1 through 15-50-9 NMSA 1953]~~ 4-50-1 through 4-50-9 | 0018| NMSA 1978 shall be subject to the approval of the board of | 0019| county commissioners. Upon the approval of the board, the | 0020| expenses and indebtedness incurred shall be paid upon warrant | 0021| ~~[or warrants]~~ drawn by the board of county commissioners, | 0022| upon the filing by the county flood commissioner of vouchers | 0023| for the expenditures and indebtedness with the board of county | 0024| commissioners. The warrants shall be paid by the county | 0025| treasurer out of the appropriate separate account within the | 0001| county flood fund. The county clerk shall file and keep a | 0002| record of all vouchers filed with the board of county | 0003| commissioners by the county flood commissioner." | 0004| | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| | 0011| | 0012| | 0013| | 0014| | 0015| | 0016| | 0017| | 0018| | 0019| | 0020| | 0021| | 0022| | 0023| | 0024| | 0025| State of New Mexico | 0001| House of Representatives | 0002| | 0003| FORTY-THIRD LEGISLATURE | 0004| FIRST SESSION, 1997 | 0005| | 0006| | 0007| February 13, 1997 | 0008| | 0009| | 0010| Mr. Speaker: | 0011| | 0012| Your GOVERNMENT AND URBAN AFFAIRS COMMITTEE, to | 0013| whom has been referred | 0014| | 0015| HOUSE BILL 496 | 0016| | 0017| has had it under consideration and reports same with | 0018| recommendation that it DO PASS, and thence referred to the | 0019| APPROPRIATIONS AND FINANCE COMMITTEE. | 0020| | 0021| Respectfully submitted, | 0022| | 0023| | 0024| | 0025| | 0001| | 0002| Lynda M. Lovejoy, Chairwoman | 0003| | 0004| | 0005| Adopted Not Adopted | 0006| | 0007| (Chief Clerk) (Chief Clerk) | 0008| | 0009| Date | 0010| | 0011| The roll call vote was 6 For 0 Against | 0012| Yes: 6 | 0013| Excused: Beam, Pederson | 0014| Absent: None | 0015| | 0016| | 0017| G:\BILLTEXT\BILLW_97\H0496 State of New Mexico | 0018| House of Representatives | 0019| | 0020| FORTY-THIRD LEGISLATURE | 0021| FIRST SESSION, 1997 | 0022| | 0023| | 0024| March 3, 1997 | 0025| | 0001| | 0002| Mr. Speaker: | 0003| | 0004| Your APPROPRIATIONS AND FINANCE COMMITTEE, to | 0005| whom has been referred | 0006| | 0007| HOUSE BILL 496 | 0008| | 0009| has had it under consideration and reports same with | 0010| recommendation that it DO PASS. | 0011| | 0012| Respectfully submitted, | 0013| | 0014| | 0015| | 0016| | 0017| | 0018| Max Coll, Chairman | 0019| | 0020| | 0021| Adopted Not Adopted | 0022| | 0023| (Chief Clerk) (Chief Clerk) | 0024| | 0025| Date | 0001| | 0002| The roll call vote was 11 For 0 Against | 0003| Yes: 11 | 0004| Excused: Abeyta, Bird, Coll, Knowles, Marquardt, Townsend | 0005| Absent: None | 0006| | 0007| | 0008| G:\BILLTEXT\BILLW_97\H0496 |