0001|     
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0002|                            HOUSE BILL 916
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0003|     43rd legislature - STATE OF NEW MEXICO - first session, 1997
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0004|                            INTRODUCED BY
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0005|                              FRED LUNA
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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 CERTAIN PROJECTS AT THE PENITENTIARY OF
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0013|     NEW MEXICO IN SANTA FE COUNTY AND AT THE CENTRAL NEW MEXICO
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0014|     CORRECTIONAL FACILITY IN VALENCIA COUNTY; MAKING AN
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0015|     APPROPRIATION; DECLARING AN EMERGENCY.
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0016|     
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0017|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0018|          Section 1.  SEVERANCE TAX BONDS--PURPOSE FOR WHICH ISSUED-
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0019|     -APPROPRIATION OF PROCEEDS.--
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0020|               A.  The state board of finance may issue and sell
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0021|     severance tax bonds in compliance with the Severance Tax
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0022|     Bonding Act in an amount not exceeding four million seventy-
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0023|     seven thousand two hundred fifty-six dollars ($4,077,256) when
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0024|     the property control division of the general services
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0025|     department certifies the need for the issuance of the bonds. 
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0001|     The state board of finance shall schedule the issuance and sale
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0002|     of the bonds in the most expeditious and economical manner
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0003|     possible upon a finding by the board that the project has been
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0004|     developed sufficiently to justify the issuance and that the
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0005|     project can proceed to contract within a reasonable time.  The
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0006|     state board of finance shall further take the appropriate steps
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0007|     necessary to comply with the Internal Revenue Code of 1986, as
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0008|     amended.  The proceeds from the sale of the bonds are
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0009|     appropriated to the property control division of the general
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0010|     services department in the following amounts for the following
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0011|     purposes:
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0012|                    (1)  five hundred thirty-eight thousand dollars
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0013|     ($538,000) to make improvements to convert certain housing
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0014|     units at the north facility to administrative segregation use
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0015|     at the penitentiary of New Mexico, located in Santa Fe county;
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0016|                    (2)  three million dollars ($3,000,000) to
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0017|     plan, design, construct or equip phase two of an infirmary at
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0018|     the central New Mexico correctional facility located in
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0019|     Valencia county; and
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0020|                    (3)  five hundred thirty-nine thousand two
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0021|     hundred fifty-six dollars ($539,256) to make improvements to
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0022|     the education building in order to convert it to a mental
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0023|     health, reception and diagnostic center at the central New
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0024|     Mexico correctional facility located in Valencia county. 
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0025|               B.  If the property control division of the general
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0001|     services department has not certified the need for the issuance
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0002|     of the bonds by the end of fiscal year 1999, the authorization
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0003|     provided in this section shall be void.  Any unexpended or
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0004|     unencumbered balance remaining from the proceeds of severance
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0005|     tax bonds issued pursuant to Subsection A of this section at
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0006|     the end of fiscal year 2000 shall revert to the severance tax
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0007|     bonding fund. 
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0008|          Section 2.  EMERGENCY.--It is necessary for the public
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0009|     peace, health and safety that this act take effect immediately.
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0010|                                  
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