0001| SENATE BILL 697
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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 PINTO
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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 TO PURCHASE, INSTALL OR EQUIP A FIRE HOUSE
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0013| IN PINEDALE IN MCKINLEY COUNTY; MAKING AN APPROPRIATION;
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0014| 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 two
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0021| hundred thousand dollars ($200,000) when the state fire marshal
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0022| certifies the need for the issuance of the bonds. The state
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0023| board of finance shall schedule the issuance and sale of the
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0024| bonds in the most expeditious and economical manner possible
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0025| upon a finding by the board that the project has been developed
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0001| sufficiently to justify the issuance and that the project can
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0002| proceed to contract within a reasonable time. The state board
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0003| of finance shall further take the appropriate steps necessary
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0004| to comply with the Internal Revenue Code of 1986, as amended.
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0005| The proceeds from the sale of the bonds are appropriated to the
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0006| office of the state fire marshal for the purpose of purchasing,
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0007| installing or equipping a fire house in Pinedale located in
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0008| McKinley county. Any unexpended or unencumbered balance
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0009| remaining at the end of fiscal year 2000 shall revert to the
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0010| severance tax bonding fund. If the state fire marshal has not
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0011| certified the need for the issuance of the bonds by the end of
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0012| fiscal year 1999, the authorization provided in this section
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0013| 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
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0020| FIRST SESSION, 1997
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0021|
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0022|
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0023| February 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 INDIAN & CULTURAL AFFAIRS COMMITTEE, to whom
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0003| has been referred
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0004|
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0005| SENATE BILL 697
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0006|
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0007| has had it under consideration and reports same with
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0008| recommendation that it DO PASS, and thence referred to the
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0009| FINANCE COMMITTEE.
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0010|
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0011| Respectfully submitted,
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0012|
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0013|
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0014|
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0015|
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0016| __________________________________
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0017| John Pinto, Chairman
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0018|
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0019|
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0020|
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0021| Adopted_______________________ Not
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0022| Adopted_______________________
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0023| (Chief Clerk) (Chief Clerk)
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0024|
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0025|
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0001| Date ________________________
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0002|
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0003|
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0004| The roll call vote was 5 For 0 Against
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0005| Yes: 5
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0006| No: 0
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0007| Excused: Carraro, Davis, Kysar, Rawson
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0008| Absent: None
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0009|
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0010|
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0011| S0697IC1
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0012|
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