0001| SENATE BILL 1049 | 0002| 43rd legislature - STATE OF NEW MEXICO - first session, 1997 | 0003| INTRODUCED BY | 0004| STUART INGLE | 0005| | 0006| | 0007| | 0008| | 0009| | 0010| AN ACT | 0011| RELATING TO CAPITAL EXPENDITURES; AUTHORIZING THE ISSUANCE OF | 0012| SEVERANCE TAX BONDS FOR PROJECTS IN ROOSEVELT COUNTY; MAKING | 0013| APPROPRIATIONS; DECLARING AN EMERGENCY. | 0014| | 0015| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO: | 0016| Section 1. SEVERANCE TAX BONDS--AUTHORIZATIONS-- | 0017| APPROPRIATION OF PROCEEDS.-- | 0018| A. The state board of finance may issue and sell | 0019| severance tax bonds in compliance with the Severance Tax | 0020| Bonding Act in an amount not to exceed the total of the amounts | 0021| authorized for purposes specified in Sections 2 through 5 of | 0022| this act. The state board of finance shall schedule the | 0023| issuance and sale of the bonds in the most expeditious and | 0024| economical manner possible upon a finding by the board that the | 0025| project has been developed sufficiently to justify the issuance | 0001| and that the project can proceed to contract within a | 0002| reasonable time. The state board of finance shall further take | 0003| the appropriate steps necessary to comply with the Internal | 0004| Revenue Code of 1986, as amended. Proceeds from the sale of | 0005| the bonds are appropriated for the purposes specified in | 0006| Sections 2 through 5 of this act. | 0007| B. The agencies named in Sections 2 through 5 of | 0008| this act shall certify to the state board of finance when the | 0009| money from the proceeds of the severance tax bonds authorized | 0010| in this section is needed for the purposes specified in the | 0011| applicable section of this act. | 0012| C. If the specified agency has not certified the | 0013| need for the issuance of the bonds by the end of fiscal year | 0014| 1999, the authorization provided in this act shall be void. | 0015| D. Unless otherwise specified in this act, any | 0016| unexpended or unencumbered balance remaining from the proceeds | 0017| of severance tax bonds issued pursuant to Sections 2 through 5 | 0018| of this act at the end of fiscal year 2000 shall revert to the | 0019| severance tax bonding fund. | 0020| Section 2. SEVERANCE TAX BONDS--STATE DEPARTMENT OF PUBLIC | 0021| EDUCATION--PURPOSE.--Pursuant to the provisions of Section 1 of | 0022| this act, upon certification by the state department of public | 0023| education that the need exists for the issuance of the bonds, | 0024| one hundred twenty-five thousand dollars ($125,000) is | 0025| appropriated to the state department of public education for | 0001| the purpose of acquiring computer hardware for the public | 0002| schools in Portales in Roosevelt county. | 0003| Section 3. SEVERANCE TAX BONDS--LOCAL GOVERNMENT DIVISION | 0004| OF THE DEPARTMENT OF FINANCE AND ADMINISTRATION--PURPOSES.-- | 0005| Pursuant to the provisions of Section 1 of this act, upon | 0006| certification by the local government division of the | 0007| department of finance and administration that the need exists | 0008| for the issuance of the bonds, the following amounts are | 0009| appropriated to the local government division of the department | 0010| of finance and administration for the following purposes: | 0011| A. thirty-five thousand dollars ($35,000) for air | 0012| conditioning repair and replacement and roof repairs for the | 0013| community service center in Portales in Roosevelt county; | 0014| B. fifty thousand dollars ($50,000) for repairs and | 0015| landscaping for the La Casa health clinic in Portales in | 0016| Roosevelt county; | 0017| C. four thousand dollars ($4,000) for a narcotics | 0018| dog and training for the city of Portales police department in | 0019| Roosevelt county; and | 0020| D. twelve thousand dollars ($12,000) for a statue | 0021| in Portales of native son Washington E. Lindsey, lieutenant | 0022| governor of New Mexico from 1917-1918. | 0023| Section 4. SEVERANCE TAX BONDS--STATE AGENCY ON AGING-- | 0024| PURPOSE.--Pursuant to the provisions of Section 1 of this act, | 0025| upon certification by the state agency on aging that the need | 0001| exists for the issuance of the bonds, eight thousand dollars | 0002| ($8,000) is appropriated to the state agency on aging for the | 0003| purpose of making roof repairs to the senior citizen center in | 0004| Floyd located in Roosevelt county. | 0005| Section 5. SEVERANCE TAX BONDS--STATE HIGHWAY AND | 0006| TRANSPORTATION DEPARTMENT--PURPOSE.--Pursuant to the provisions | 0007| of Section 1 of this act, upon certification by the state | 0008| highway and transportation department that the need exists for | 0009| the issuance of the bonds, the following amounts are | 0010| appropriated to the state highway and transportation department | 0011| for the following purposes: | 0012| A. two hundred fifty thousand dollars ($250,000) | 0013| for street repairs, curbs and gutters in the city of Portales | 0014| in Roosevelt county; and | 0015| B. two hundred fifty thousand dollars ($250,000) | 0016| for road repairs in Roosevelt county. | 0017| Section 6. EMERGENCY.--It is necessary for the public | 0018| peace, health and safety that this act take effect immediately. | 0019|  |