0001|                            HOUSE BILL 705
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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|                          BOBBIE K. MALLORY
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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 UNION 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--LOCAL GOVERNMENT
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0021|     DIVISION--PURPOSES.--Pursuant to the provisions of Section 1 of
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0022|     this act, upon certification by the local government division
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0023|     of the department of finance and administration that the need
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0024|     exists for the issuance of the bonds, the following amounts are
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0025|     appropriated to the local government division of the department
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0001|     of finance and administration for the following purposes:
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0002|               A.  two hundred forty-three thousand dollars
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0003|     ($243,000) to purchase and install an elevator in the Union
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0004|     county courthouse in Clayton located in Union county;
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0005|               B.  nine hundred thousand dollars ($900,000) for
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0006|     construction of a multipurpose facility in the town of Clayton
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0007|     located in Union county; and
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0008|               C.  three hundred twenty thousand dollars ($320,000)
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0009|     for the following improvements at Union county general hospital
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0010|     in Union county:
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0011|                    (1)  thirty thousand dollars ($30,000) for
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0012|     replacement of a nurse call;
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0013|                    (2)  ten thousand dollars ($10,000) for
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0014|     replacement of a water softener;
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0015|                    (3)  one hundred thirty-five thousand dollars
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0016|     ($135,000) for replacement of a steam line;
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0017|                    (4)  eighty thousand dollars ($80,000) for
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0018|     repair of the roof; and
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0019|                    (5)  sixty-five thousand dollars ($65,000) for
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0020|     replacement of boilers.
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0021|          Section 3.  SEVERANCE TAX BONDS--STATE DEPARTMENT OF
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0022|     PUBLIC EDUCATION--PURPOSE.--Pursuant to the provisions of
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0023|     Section 1 of this act, upon certification by the state
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0024|     department of public education that the need exists for the
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0025|     issuance of the bonds, fifty thousand dollars ($50,000) is
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0001|     appropriated to the state department of public education for
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0002|     acquisition and installation of educational technology in the
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0003|     Des Moines schools located in Union county.
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0004|          Section 4.  SEVERANCE TAX BONDS--DEPARTMENT OF
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0005|     ENVIRONMENT--PURPOSE.--Pursuant to the provisions of Section 1
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0006|     of this act, upon certification by the department of
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0007|     environment that the need exists for the issuance of the bonds,
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0008|     one hundred fifty thousand dollars ($150,000) is appropriated
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0009|     to the department of environment for the town of Clayton water
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0010|     system located in Union county.
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0011|          Section 5.  EMERGENCY.--It is necessary for the public
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0012|     peace, health and safety that this act take effect immediately.
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0013|                              
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