0001| SENATE BILL 1052 | 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 VARIOUS ROAD AND COMMUNITY PROJECTS IN | 0013| CURRY COUNTY; MAKING 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--COUNTY ROAD | 0021| IMPROVEMENTS--PURPOSES.--Pursuant to the provisions of Section | 0022| 1 of this act, upon certification by the state highway and | 0023| transportation department that need exists for the issuance of | 0024| the bonds, the following amounts are appropriated to the state | 0025| highway and transportation department for the following | 0001| purposes: | 0002| A. two hundred twenty-five thousand dollars | 0003| ($225,000) for planning, designing, constructing and improving | 0004| county road 17 between county roads G and J, including caliche | 0005| work, installing concrete culverts and purchasing rights of | 0006| way; | 0007| B. two hundred twenty thousand dollars ($220,000) | 0008| for the planning, designing, constructing and improving county | 0009| roads 9, O, N and 6 located in Curry county, including caliche | 0010| and chip seal work; | 0011| C. two hundred sixty thousand dollars ($260,000) | 0012| for planning, designing, constructing and improving Brady | 0013| street from Thornton street to highway 476, including widening | 0014| and chip sealing; and | 0015| D. two hundred fifty thousand dollars ($250,000) | 0016| for road improvements in Curry county. | 0017| Section 3. SEVERANCE TAX BONDS--VARIOUS COUNTY | 0018| IMPROVEMENTS--PURPOSE.--Pursuant to the provisions of Section 1 | 0019| of this act, upon certification by the local government | 0020| division of the department of finance and administration that | 0021| the need exists for the issuance of the bonds, the following | 0022| amounts are appropriated to the local government division of | 0023| the department of finance and administration for the following | 0024| purposes: | 0025| A. three hundred fifty thousand dollars ($350,000) | 0001| for planning, designing, purchasing and installing a new | 0002| security system for the Curry county courthouse; and | 0003| B. two thousand five hundred dollars ($2,500) for | 0004| making landscaping improvements to the county fairgrounds, | 0005| including purchasing and planting trees. | 0006| Section 4. SEVERANCE TAX BONDS--CLOVIS COMMUNITY | 0007| COLLEGE--PURPOSE.--Pursuant to the provisions of Section 1 of | 0008| this act, upon certification by the community college board of | 0009| the Clovis community college that the need exists for the | 0010| issuance of the bonds, two hundred forty-three thousand dollars | 0011| ($243,000) is appropriated to the board of trustees of the | 0012| Clovis community college for the purpose of making improvements | 0013| to and expanding the television education system at the Clovis | 0014| community college located in Curry county. | 0015| Section 5. SEVERANCE TAX BONDS--PUBLIC SCHOOL | 0016| IMPROVEMENTS--PURPOSE.--Pursuant to the provisions of Section 1 | 0017| of this act, upon certification by the state department of | 0018| public education that the need exists for the issuance of the | 0019| bonds, the following amounts are appropriated to the state | 0020| department of public education for the following purposes: | 0021| A. one hundred thousand dollars ($100,000) for | 0022| lights at the stadium at Clovis high school; and | 0023| B. one hundred fifty thousand dollars ($150,000) | 0024| for computers at Clovis public schools. | 0025| Section 6. EMERGENCY.--It is necessary for the public | 0001| peace, health and safety that this act take effect immediately. | 0002|  |