0001|                           SENATE BILL 345
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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|                          JOHN ARTHUR SMITH
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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 A JUVENILE REINTEGRATION FACILITY IN
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0013|     LUNA COUNTY; MAKING AN APPROPRIATION; 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--PURPOSE FOR WHICH ISSUED-
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0017|     -APPROPRIATION OF PROCEEDS.--The state board of finance may
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0018|     issue and sell severance tax bonds in compliance with the
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0019|     Severance Tax Bonding Act in an amount not exceeding one
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0020|     million dollars ($1,000,000) when the local government division
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0021|     of the department of finance and administration certifies the
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0022|     need for the issuance of the bonds.  The state board of finance
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0023|     shall schedule the issuance and sale of the bonds in the most
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0024|     expeditious and economical manner possible upon a finding by
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0025|     the board that the project has been developed sufficiently to
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0001|     justify the issuance and that the project can proceed to
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0002|     contract within a reasonable time.  The state board of finance
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0003|     shall further take the appropriate steps necessary to comply
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0004|     with the Internal Revenue Code of 1986, as amended.  The
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0005|     proceeds from the sale of the bonds are appropriated to the
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0006|     local government division for the purpose of acquiring the land
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0007|     for and designing, constructing, equipping or furnishing a
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0008|     juvenile reintegration facility located in Luna county.  Any
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0009|     unexpended or unencumbered balance remaining at the end of
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0010|     fiscal year 2000 shall revert to the severance tax bonding
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0011|     fund.  If the local government division has not certified the
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0012|     need for the issuance of the bonds by the end of fiscal year
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0013|     1999, the authorization provided in this section shall be void.
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0014|          Section 2.  EMERGENCY.--It is necessary for the public
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0015|     peace, health and safety that this act take effect immediately.
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0016|                                  
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0017|       
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0018|   
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0019|                      FORTY-THIRD LEGISLATURE           SB 345/a
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0020|                        FIRST SESSION, 1997
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0021|   
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0022|   
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0023|                                                  March 18, 1997
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0024|   
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0025|   Mr. President:
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0001|   
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0002|       Your FINANCE COMMITTEE, to whom has been referred
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0003|   
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0004|                          SENATE BILL 345
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0005|   
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0006|   has had it under consideration and reports same with
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0007|   recommendation that it DO PASS, amended as follows:
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0008|   
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0009|       1.  On page 1, line 12, strike "REINTEGRATION" and insert in
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0010|   lieu thereof "DETENTION AND PREADJUDICATION".
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0011|   
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0012|       2.  On page 2, line 8, strike "reintegration" and insert in
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0013|   lieu thereof "detention and preadjudication".
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0014|   
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0015|   
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0016|                                Respectfully submitted,
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0017|   
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0018|   
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0019|   
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0020|                                
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0021|   __________________________________
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0022|                                Ben D. Altamirano, Chairman 
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0023|   
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0024|   
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0025|   
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0001|   Adopted_______________________   Not
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0002|   Adopted_______________________
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0003|             (Chief Clerk)                          (Chief Clerk)
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0004|   
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0005|   
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0006|                     Date ________________________
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0007|   
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0008|   
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0009|   The roll call vote was <u> 6 </u> For <u> 0 </u> Against
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0010|           Yes:    6
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0011|           No:     None
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0012|                Excused:     Carraro, Eisenstadt, Ingle, Lyons, McKibben
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0013|           Absent: None
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0014|   
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0015| S0345FC1                                            .115971.1
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