0001|                           HOUSE BILL 1309
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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|                           NICK L. SALAZAR
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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 OUTLAY PROJECTS FOR THE VILLAGE
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0013|     OF PECOS IN SAN MIGUEL COUNTY; MAKING APPROPRIATIONS; DECLARING
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0014|     AN EMERGENCY.
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0015|     
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0016|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0017|          Section 1.  SEVERANCE TAX BONDS--AUTHORIZATIONS--
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0018|     APPROPRIATION OF PROCEEDS.--
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0019|               A.  The state board of finance may issue and sell
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0020|     severance tax bonds in compliance with the Severance Tax
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0021|     Bonding Act in an amount not to exceed the total of the amounts
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0022|     authorized for purposes specified in Sections 2 and 3 of this
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0023|     act.  The state board of finance shall schedule the issuance
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0024|     and sale of the bonds in the most expeditious and economical
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0025|     manner possible upon a finding by the board that the project
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0001|     has been developed sufficiently to justify the issuance and
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0002|     that the project can proceed to contract within a reasonable
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0003|     time.  The state board of finance shall further take the
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0004|     appropriate steps necessary to comply with the Internal Revenue
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0005|     Code of 1986, as amended.  Proceeds from the sale of the bonds
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0006|     are appropriated for the purposes specified in Sections 2 and 3
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0007|     of this act.  The state board of finance shall schedule the
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0008|     issuance and sale of the bonds in the most expeditious and
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0009|     economical manner possible upon a finding by the board that the
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0010|     project has been developed sufficiently to justify the issuance
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0011|     and that the project can proceed to contract within a
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0012|     reasonable time.  The state board of finance shall further take
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0013|     the appropriate steps necessary to comply with the Internal
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0014|     Revenue Code of 1986, as amended.  Proceeds from the sale of
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0015|     the bonds are appropriated for the purposes specified in
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0016|     Sections 2 and 3 of this act.
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0017|               B.  The agencies named in Sections 2 and 3 of this
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0018|     act shall certify to the state board of finance when the money
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0019|     from the proceeds of the severance tax bonds authorized in this
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0020|     section is needed for the purposes specified in the applicable
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0021|     section of this act.
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0022|               C.  If the specified agency has not certified the
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0023|     need for the issuance of the bonds by the end of fiscal year
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0024|     1999, the authorization provided in this act shall be void.
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0025|               D.  Unless otherwise specified in this act, any
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0001|     unexpended or unencumbered balance remaining from the proceeds
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0002|     of severance tax bonds issued pursuant to Sections 2 and 3 of
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0003|     this act at the end of fiscal year 2000 shall revert to the
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0004|     severance tax bonding fund.
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0005|          Section 2.  SEVERANCE TAX BONDS--DEPARTMENT OF FINANCE AND
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0006|     ADMINISTRATION--PURPOSES.--Pursuant to the provisions of
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0007|     Section 1 of this act, upon certification by the local
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0008|     government division of the department of finance and
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0009|     administration that the need exists for the issuance of the
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0010|     bonds, the following amounts are appropriated to the local
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0011|     government division for the following purposes:
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0012|                    (1)  one hundred thirty-five thousand dollars
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0013|     ($135,000) for the purpose of designing, constructing,
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0014|     inspecting or equipping the proposed Pecos Valley medical
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0015|     center; and
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0016|                    (2)  two hundred fifty thousand dollars
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0017|     ($250,000) for the purpose of designing, constructing,
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0018|     equipping and furnishing a new municipal building in the
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0019|     village of Pecos located in San Miguel county.
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0020|          Section 3.  SEVERANCE TAX BONDS--STATE AGENCY ON AGING--
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0021|     PURPOSES.--Pursuant to the provisions of Section 1 of this act,
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0022|     upon certification by the state agency on aging that the need
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0023|     exists for the issuance of the bonds, the following amounts are
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0024|     appropriated to the state agency on aging for the following
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0025|     purposes:
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0001|                    (1) thirty-four thousand four hundred dollars
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0002|     ($34,400) to design and construct a roof for the Pecos senior
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0003|     center located in San Miguel county;
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0004|                    (2)  forty-five thousand dollars ($45,000) to
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0005|     purchase a four-wheel-drive van with a side-lift for the Pecos
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0006|     senior center located in San Miguel county;
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0007|                    (3)  ten thousand dollars ($10,000) to design,
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0008|     construct and equip renovations for the heating system at the
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0009|     Pecos senior center located in San Miguel county; and
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0010|                    (4)  five thousand dollars ($5,000) to purchase
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0011|     and install equipment for the Pecos senior center located in
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0012|     San Miguel county.
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0013|          Section 4.  EMERGENCY.--It is necessary for the public
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0014|     peace, health and safety that this act take effect immediately.
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0015|                              
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