0001| HOUSE BILL 940 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| DANICE PICRAUX | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0012| SEVERANCE TAX BONDS FOR EXTENDED LEARNING PROJECTS THROUGHOUT | 0013| THE STATE; MAKING APPROPRIATIONS; DECLARING AN EMERGENCY. | 0014| | 0015| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0016| Section 1. SEVERANCE TAX BONDS--AUTHORIZATIONS-- | 0017| APPROPRIATION OF PROCEEDS.-- | 0018| A. The state board of finance may issue and sell | 0019| severance tax bonds in compliance with the Severance Tax | 0020| Bonding Act in an amount not to exceed the total of the amounts | 0021| authorized for purposes specified in Sections 2 through 9 of | 0022| this act. The state board of finance shall schedule the | 0023| issuance and sale of the bonds in the most expeditious and | 0024| economical manner possible upon a finding by the board that the | 0025| project has been developed sufficiently to justify the issuance | 0001| and that the project can proceed to contract within a | 0002| reasonable time. The state board of finance shall further take | 0003| the appropriate steps necessary to comply with the Internal | 0004| Revenue Code of 1986, as amended. Proceeds from the sale of | 0005| the bonds are appropriated for the purposes specified in | 0006| Sections 2 through 9 of this act. | 0007| B. The agencies named in Sections 2 through 9 of | 0008| this act shall certify to the state board of finance when the | 0009| money from the proceeds of the severance tax bonds authorized | 0010| in this section is needed for the purposes specified in the | 0011| applicable section of this act. | 0012| C. If the specified agency has not certified the | 0013| need for the issuance of the bonds by the end of fiscal year | 0014| 1999, the authorization provided in this act shall be void. | 0015| D. Unless otherwise specified in this act, any | 0016| unexpended or unencumbered balance remaining from the proceeds | 0017| of severance tax bonds issued pursuant to Sections 2 through 9 | 0018| of this act at the end of fiscal year 2000 shall revert to the | 0019| severance tax bonding fund. | 0020| Section 2. SEVERANCE TAX BONDS--BOARD OF REGENTS OF | 0021| EASTERN NEW MEXICO UNIVERSITY--PURPOSE.--Pursuant to the | 0022| provisions of Section 1 of this act, upon certification by the | 0023| board of regents of eastern New Mexico university that the need | 0024| exists for the issuance of the bonds, seven hundred twenty-one | 0025| thousand five hundred dollars ($721,500) is appropriated to the | 0001| board of regents of eastern New Mexico university to expand | 0002| technological access to education located in Roosevelt county. | 0003| Section 3. SEVERANCE TAX BONDS--BOARD OF REGENTS OF THE | 0004| UNIVERSITY OF NEW MEXICO--PURPOSE.--Pursuant to the provisions | 0005| of Section 1 of this act, upon certification by the board of | 0006| regents of the university of New Mexico that the need exists | 0007| for the issuance of the bonds, three hundred seven thousand | 0008| five hundred dollars ($307,500) is appropriated to the board of | 0009| regents of the university of New Mexico for the purpose of | 0010| expanding and enhancing the statewide electronic distance | 0011| education network located in Bernalillo county. | 0012| Section 4. SEVERANCE TAX BONDS--BOARD OF REGENTS OF NEW | 0013| MEXICO HIGHLANDS UNIVERSITY--PURPOSE.--Pursuant to the | 0014| provisions of Section 1 of this act, upon certification by the | 0015| board of regents of New Mexico highlands university that the | 0016| need exists for the issuance of the bonds, three hundred | 0017| twenty-four thousand dollars ($324,000) is appropriated to the | 0018| board of regents of New Mexico highlands university for the | 0019| purpose of providing satellite network equipment located in San | 0020| Miguel county. | 0021| Section 5. SEVERANCE TAX BONDS--BOARD OF REGENTS OF NEW | 0022| MEXICO STATE UNIVERSITY--PURPOSE.--Pursuant to the provisions | 0023| of Section 1 of this act, upon certification by the board of | 0024| regents of New Mexico state university that the need exists for | 0025| the issuance of the bonds, two hundred thirty-nine thousand | 0001| four hundred sixty-two dollars ($239,462) is appropriated to | 0002| the board of regents of New Mexico state university for the | 0003| purpose of providing and receiving extended learning | 0004| instruction at the Alamogordo branch located in Otero county. | 0005| Section 6. SEVERANCE TAX BONDS--BOARD OF REGENTS OF | 0006| NORTHERN NEW MEXICO STATE SCHOOL--PURPOSE.--Pursuant to the | 0007| provisions of Section 1 of this act, upon certification by the | 0008| board of regents of northern New Mexico state school that the | 0009| need exists for the issuance of the bonds, two hundred eighty- | 0010| five thousand seven hundred dollars ($285,700) is appropriated | 0011| to the board of regents of northern New Mexico state school for | 0012| the purpose of establishing a regional videoconferencing and | 0013| data network located in Rio Arriba county. | 0014| Section 7. SEVERANCE TAX BONDS--COMMUNITY COLLEGE BOARD | 0015| OF SANTA FE COMMUNITY COLLEGE--PURPOSE.--Pursuant to the | 0016| provisions of Section 1 of this act, upon certification by the | 0017| community college board of Santa Fe community college that the | 0018| need exists for the issuance of the bonds, five hundred twenty- | 0019| three thousand six hundred dollars ($523,600) is appropriated | 0020| to the community college board of Santa Fe community college | 0021| for the purpose of upgrading and expanding the technology | 0022| infrastructure of the college and its off-campus learning | 0023| centers located in Santa Fe county. | 0024| Section 8. SEVERANCE TAX BONDS--BOARD OF REGENTS OF | 0025| WESTERN NEW MEXICO UNIVERSITY--PURPOSE.--Pursuant to the | 0001| provisions of Section 1 of this act, upon certification by the | 0002| board of regents of western New Mexico university that the need | 0003| exists for the issuance of the bonds, four hundred five | 0004| thousand dollars ($405,000) is appropriated to the board of | 0005| regents of western New Mexico university for the purpose of | 0006| developing a regional telecommunications network and | 0007| educational programs located in Grant county. | 0008| Section 9. SEVERANCE TAX BONDS--COMMISSION ON HIGHER | 0009| EDUCATION--PURPOSE.--Pursuant to the provisions of Section 1 of | 0010| this act, upon certification by the commission on higher | 0011| education that the need exists for the issuance of the bonds, | 0012| three hundred twelve thousand seven hundred dollars ($312,700) | 0013| is appropriated to the commission on higher education for the | 0014| purpose of contracting to provide equipment for a new statewide | 0015| extended learning dental hygiene program located in Dona Ana, | 0016| Santa Fe and Bernalillo counties. | 0017| Section 10. EMERGENCY.--It is necessary for the public | 0018| peace, health and safety that this act take effect immediately. | 0019|  |