0001|                            SENATE BILL 67
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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|                            SUE F. WILSON
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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 INSTALLATION OF WARNING LIGHTS AND
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0013|     SIGNS FOR EDGEWOOD ELEMENTARY SCHOOL IN SANTA FE COUNTY; MAKING
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0014|     AN APPROPRIATION; DECLARING 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--PURPOSE FOR WHICH ISSUED-
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0018|     -APPROPRIATION OF PROCEEDS.--The state board of finance may
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0019|     issue and sell severance tax bonds in compliance with the
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0020|     Severance Tax Bonding Act in an amount not exceeding twenty
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0021|     thousand dollars ($20,000) when the state highway and
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0022|     transportation department certifies the need for the issuance
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0023|     of the bonds.  The state board of finance shall schedule the
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0024|     issuance and sale of the bonds in the most expeditious and
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0025|     economical manner possible upon a finding by the board that the
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0001|     project has been developed sufficiently to justify the issuance
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0002|     and that the project can proceed to contract within a
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0003|     reasonable time.  The state board of finance shall further take
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0004|     the appropriate steps necessary to comply with the Internal
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0005|     Revenue Code of 1986, as amended.  The proceeds from the sale
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0006|     of the bonds are appropriated to the state highway and
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0007|     transportation department for the purpose of installing speed
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0008|     reduction and school zone signs and warning lights on state
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0009|     road 344 at the Edgewood elementary school located in Santa Fe
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0010|     county.  Any unexpended or unencumbered balance remaining at
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0011|     the end of fiscal year 2000 shall revert to the severance tax
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0012|     bonding fund.  If the state highway and transportation
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0013|     department has not certified the need for the issuance of the
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0014|     bonds by the end of fiscal year 1999, the authorization
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0015|     provided in this section shall be void.
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0016|          Section 2.  EMERGENCY.--It is necessary for the public
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0017|     peace, health and safety that this act take effect immediately.
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0018|                                  
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0019|       
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0020|   
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0021|                      FORTY-THIRD LEGISLATURE
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0022|                        FIRST SESSION, 1997
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0023|   
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0024|   
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0025|                                                January 30, 1997
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0001|   
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0002|   Mr. President:
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0003|   
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0004|       Your CORPORATIONS & TRANSPORTATION COMMITTEE, to
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0005|   whom has been referred
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0006|   
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0007|                           SENATE BILL 67
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0008|   
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0009|   has had it under consideration and reports same with
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0010|   recommendation that it DO PASS, and thence referred to the
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0011|   PUBLIC AFFAIRS  COMMITTEE.
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0012|   
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0013|                                Respectfully submitted,
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0014|   
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0015|   
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0016|   
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0017|                                
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0018|   __________________________________
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0019|                                Roman M. Maes, III, Chairman 
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0020|   
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0021|   
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0022|   
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0023|   Adopted_______________________   Not
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0024|   Adopted_______________________
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0025|             (Chief Clerk)                          (Chief Clerk)
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0001|   
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0002|   
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0003|                     Date ________________________
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0004|   
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0005|   
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0006|   The roll call vote was <u> 8 </u> For <u> 0 </u> Against
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0007|           Yes:    8
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0008|           No:     None
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0009|                Excused:     Robinson, Maloof
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0010|           Absent: None
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0011|   
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0012|   
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0013|   S0067CT1
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0014|   
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0015|     
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0016|   
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0017|                         FORTY-THIRD LEGISLATURE
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0018|                           FIRST SESSION, 1997
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0019|   
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0020|   
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0021|                                                    February 10, 1997
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0022|   
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0023|   Mr. President:
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0024|   
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0025|       Your PUBLIC AFFAIRS COMMITTEE, to whom has been referred
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0001|   
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0002|                             SENATE BILL 67
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0003|   
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0004|   has had it under consideration and reports same WITHOUT
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0005|   RECOMMENDATION, and thence referred to the FINANCE COMMITTEE.
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0006|   
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0007|                                Respectfully submitted,
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0008|   
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0009|   
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0010|   
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0011|                                __________________________________
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0012|                                Shannon Robinson, Chairman 
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0013|   
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0014|   
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0015|   Adopted_______________________   Not Adopted_______________________
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0016|             (Chief Clerk)                          (Chief Clerk)
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0017|   
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0018|   
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0019|                     Date ________________________
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0020|   
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0021|   
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0022|   The roll call vote was <u> 5 </u> For <u> 0 </u> Against
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0023|           Yes:    5
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0024|           No:     0
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0025|                Excused:     Adair, Feldman, Ingle, Smith
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0001|           Absent: None
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0002|   
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0003|   

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0004|   
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0005|   S0067PA1
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0006|   
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