0001|                            HOUSE BILL 737
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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|                           ANNA MARIE CROOK
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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 IMPROVEMENTS IN CLOVIS IN CURRY
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0013|     COUNTY; 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--DEPARTMENT OF 
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0021|     ENVIRONMENT--PURPOSES.--Upon certification by the department of
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0022|     environment, the following amounts are appropriated to the
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0023|     department of environment for the following purposes in Curry
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0024|     county:
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0025|               A.  one million dollars ($1,000,000) to complete the
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0001|     Clovis drainage project from Seventh street to Ingram lake; and
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0002|               B.  seven hundred thousand dollars ($700,000) for
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0003|     the westside sewer line in Clovis.
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0004|          Section 3.  SEVERANCE TAX BONDS--STATE HIGHWAY AND
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0005|     TRANSPORTATION DEPARTMENT--PURPOSES.--Upon certification by the
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0006|     state highway and transportation department that the need
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0007|     exists for the issuance of the bonds, the following amounts are
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0008|     appropriated to the department for the following purposes in
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0009|     Curry county:
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0010|               A.  two million fifty thousand dollars ($2,050,000)
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0011|     to reconstruct Seventh street from Tharp to Bonita and
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0012|     reconstruct and widen Seventh street from Norris to Humphrey in
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0013|     Clovis;
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0014|               B.  two hundred fifty thousand dollars ($250,000) to
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0015|     reconstruct and widen Twenty-first street from Gerry to Thomas
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0016|     in Clovis; and
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0017|               C.  one hundred thousand dollars ($100,000) to
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0018|     beautify medians on south Prince street.
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0019|          Section 4.  SEVERANCE TAX BONDS--LOCAL GOVERNMENT 
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0020|     DIVISION--PURPOSES.--Upon certification by the local government
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0021|     division of the department of finance and administration, the
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0022|     following amounts are appropriated to the division for the
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0023|     following purposes in Curry county:
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0024|               A.  three million nine hundred seventy-seven
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0025|     thousand five hundred dollars ($3,977,500) for land
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0001|     acquisition, planning, design, construction and equipping a
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0002|     Subtitle D landfill, including facility closure, to serve
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0003|     Clovis and the nearby region;
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0004|               B.  three million dollars ($3,000,000) to design and
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0005|     construct a special events center in Clovis;
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0006|               C.  one hundred fifty thousand dollars ($150,000) to
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0007|     purchase and install playground systems in three Clovis city
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0008|     parks; and
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0009|               D.  one hundred twenty-five thousand dollars
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0010|     ($125,000) to construct a maintenance building in Clovis.
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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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