0001| SENATE BILL 846
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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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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 PROJECTS FOR TORRANCE COUNTY
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0013| FIRE DEPARTMENTS; MAKING AN APPROPRIATION; DECLARING AN
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0014| 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--PURPOSES FOR WHICH
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0018| ISSUED--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 exceeding four hundred twenty-five
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0022| thousand dollars ($425,000) when the local government division
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0023| of the department of finance and administration certifies the
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0024| need for the issuance of the bonds. The state board of finance
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0025| shall schedule the issuance and sale of the bonds in the most
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0001| expeditious and economical manner possible upon a finding by
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0002| the board that the project has been developed sufficiently to
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0003| justify the issuance and that the project can proceed to
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0004| contract within a reasonable time. The state board of finance
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0005| shall further take the appropriate steps necessary to comply
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0006| with the Internal Revenue Code of 1986, as amended. The
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0007| proceeds from the sale of the bonds are appropriated to the
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0008| local government division of the department of finance and
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0009| administration in the following amounts for the following
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0010| purposes in Torrance county:
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0011| (1) fifty thousand dollars ($50,000) for
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0012| repairs to the northeast Torrance volunteer fire department
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0013| fire station building to meet the life safety code;
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0014| (2) eighty thousand dollars ($80,000) to
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0015| replace an all-wheel-drive cab chassis on the northeast
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0016| Torrance volunteer fire department water tanker;
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0017| (3) one hundred seventy-five thousand dollars
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0018| ($175,000) to purchase a new all-wheel-drive water tanker for
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0019| the McIntosh volunteer fire department; and
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0020| (4) one hundred twenty thousand dollars
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0021| ($120,000) to construct a new fire station for the Torrance
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0022| county district two volunteer fire department.
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0023| B. If the local government division of the
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0024| department of finance and administration has not certified the
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0025| need for the issuance of the bonds by the end of fiscal year
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0001| 1999, the authorization provided in this section shall be void.
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0002| Any unexpended or unencumbered balance remaining from the
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0003| proceeds of severance tax bonds issued pursuant to Subsection A
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0004| of this section at the end of fiscal year 2000 shall revert to
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0005| the severance tax bonding fund.
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0006| Section 2. EMERGENCY.--It is necessary for the public
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0007| peace, health and safety that this act take effect immediately.
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0008|
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0009|
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0010|
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0011| FORTY-THIRD LEGISLATURE
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0012| FIRST SESSION, 1997
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0013|
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0014|
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0015| February 26, 1997
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0016|
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0017| Mr. President:
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0018|
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0019| Your WAYS AND MEANS COMMITTEE, to whom has been
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0020| referred
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0021|
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0022| SENATE BILL 846
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0023|
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0024| has had it under consideration and reports same with
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0025| recommendation that it DO PASS, and thence referred to the
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0001| FINANCE COMMITTEE.
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0002|
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0003| Respectfully submitted,
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0004|
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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| Carlos R. Cisneros, Chairman
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0010|
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0011|
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0012|
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0013| Adopted_______________________ Not
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0014| Adopted_______________________
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0015| (Chief Clerk) (Chief Clerk)
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0016|
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0017|
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0018| Date ________________________
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0019|
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0020|
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0021| The roll call vote was 6 For 0 Against
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0022| Yes: 6
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0023| No: 0
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0024| Excused: Duran, Kidd, Leavell
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0025| Absent: None
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0001|
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0002|
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0003| S0846WM1
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0004|
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0005|
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0006|
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0007| FORTY-THIRD LEGISLATURE
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0008| FIRST SESSION, 1997
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0009|
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0010|
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0011| February 26, 1997
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0012|
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0013| Mr. President:
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0014|
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0015| Your WAYS AND MEANS COMMITTEE, to whom has been
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0016| referred
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0017|
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0018| SENATE BILL 846
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0019|
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0020| has had it under consideration and reports same with
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0021| recommendation that it DO PASS, and thence referred to the
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0022| FINANCE COMMITTEE.
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0023|
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0024| Respectfully submitted,
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0025|
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0001|
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0002|
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0003|
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0004| __________________________________
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0005| Carlos R. Cisneros, Chairman
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0006|
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0007|
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0008|
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0009| Adopted_______________________ Not
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0010| Adopted_______________________
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0011| (Chief Clerk) (Chief Clerk)
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0012|
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0013|
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0014| Date ________________________
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0015|
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0016|
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0017| The roll call vote was 6 For 0 Against
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0018| Yes: 6
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0019| No: 0
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0020| Excused: Duran, Kidd, Leavell
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0021| Absent: None
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0022|
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0023|
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0024| S0846WM1
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0025|
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