HTCS/HB 516

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AN ACT

RELATING TO THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE;

AUTHORIZING THE ISSUANCE OF STATE HIGHWAY BONDS FOR CERTAIN

STATE HIGHWAY PROJECTS; MAKING APPROPRIATIONS.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

Section 1. STATE HIGHWAY BONDS--PURPOSES FOR WHICH

ISSUED--APPROPRIATION OF PROCEEDS.--

A. The state highway commission may issue and sell

state highway bonds in compliance with the provisions of

Section 67-3-59.1 NMSA 1978 in an amount not exceeding two

hundred fourteen million dollars ($214,000,000) when the

commission determines the need for the issuance of the bonds.

The state highway commission shall schedule the issuance and

sale of the bonds in the most expeditious and economic manner

possible upon a finding by the commission that the project has

been developed sufficiently to justify the issuance and that

the project can proceed to contract within a reasonable time.

The proceeds from the sale of the bonds are appropriated to

the state highway and transportation department for the four-

lane construction and improvement of state highway 44 from

Bernalillo to Bloomfield.

B. The state highway commission may issue and sell

state highway bonds in compliance with the provisions of

Section 67-3-59.1 NMSA 1978 in an amount not exceeding two

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hundred ten million dollars ($210,000,000) when the commission

determines the need for the issuance of the bonds. The state

highway commission shall schedule the issuance and sale of the

bonds in the most expeditious and economic manner possible

upon a finding by the commission that the project has been

developed sufficiently to justify the issuance and that the

project can proceed to contract within a reasonable time.

Bonds issued pursuant to this subsection shall have a maturity

of no more than ten years from the date of issuance. The

proceeds from the sale of the bonds are appropriated to the

state highway and transportation department for the

reconstruction of the interstate 40 and interstate 25

interchange in Albuquerque. The state highway and

transportation department shall develop and implement a

comprehensive mitigation plan associated with the

reconstruction. The plan shall be developed and implemented

in coordination with all affected entities, including the city

of Albuquerque and Bernalillo, Valencia and Sandoval counties.

The plan shall address mitigation of the impacts during the

project and shall minimize, as much as practicable, the impact

of the construction and related traffic flows on adjacent

neighborhoods, businesses and, in particular, the Albuquerque

central business district, the university of New Mexico and

the nearby health care institutions. The plan shall include a

projected cost for implementation.

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C. The state highway commission may issue and sell

state highway bonds in compliance with the provisions of

Section 67-3-59.1 NMSA 1978 in an amount not exceeding twenty

million dollars ($20,000,000) when the commission determines

the need for the issuance of the bonds. The state highway

commission shall schedule the issuance and sale of the bonds

in the most expeditious and economic manner possible upon a

finding by the commission that the project has been developed

sufficiently to justify the issuance and that the project can

proceed to contract within a reasonable time. Bonds issued

pursuant to this subsection shall have a maturity of no more

than ten years from the date of issuance. The proceeds from

the sale of the bonds are appropriated to the state highway

and transportation department for construction of the Santa Fe

relief route.

D. The state highway commission may issue and sell

state highway bonds in compliance with the provisions of

Section 67-3-59.1 NMSA 1978 in an amount not exceeding eighty

million dollars ($80,000,000) when the commission determines

the need for the issuance of the bonds. The state highway

commission shall schedule the issuance and sale of the bonds

in the most expeditious and economic manner possible upon a

finding by the commission that the project has been developed

sufficiently to justify the issuance and that the project can

proceed to contract within a reasonable time. Bonds issued

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pursuant to this subsection shall have a maturity of no more

than ten years from the date of issuance. The proceeds from

the sale of the bonds are appropriated to the state highway

and transportation department for the limited-access

construction and necessary interchanges for United States

highway 70 from Las Cruces east to White Sands missile range

road.

E. The state highway commission may issue and sell

state highway bonds in compliance with the provisions of

Section 67-3-59.1 NMSA 1978 in an amount not exceeding one

hundred million dollars ($100,000,000) when the commission

determines the need for the issuance of the bonds. The state

highway commission shall schedule the issuance and sale of the

bonds in the most expeditious and economic manner possible

upon a finding by the commission that the project has been

developed sufficiently to justify the issuance and that the

project can proceed to contract within a reasonable time.

Bonds issued pursuant to this subsection shall have a maturity

of no more than ten years from the date of issuance. The

proceeds from the sale of the bonds are appropriated to the

state highway and transportation department for the

construction of United States highway 84/285 from Santa Fe to

Pojoaque.

F. The state highway commission may issue and sell

state highway bonds in compliance with the provisions of

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Section 67-3-59.1 NMSA 1978 in an amount not exceeding thirty-

five million dollars ($35,000,000) when the commission

determines the need for the issuance of the bonds. The state

highway commission shall schedule the issuance and sale of the

bonds in the most expeditious and economic manner possible

upon a finding by the commission that the project has been

developed sufficiently to justify the issuance and that the

project can proceed to contract within a reasonable time.

Bonds issued pursuant to this subsection shall have a maturity

of no more than ten years from the date of issuance. The

proceeds from the sale of the bonds are appropriated to the

state highway and transportation department for construction

of the southwest loop in Albuquerque, including the Paseo de

Volcan interchange at interstate 40.

G. The state highway commission may issue and sell

state highway bonds in compliance with the provisions of

Section 67-3-59.1 NMSA 1978 in an amount not exceeding forty-

five million dollars ($45,000,000) when the commission

determines the need for the issuance of the bonds. The state

highway commission shall schedule the issuance and sale of the

bonds in the most expeditious and economic manner possible

upon a finding by the commission that the project has been

developed sufficiently to justify the issuance and that the

project can proceed to contract within a reasonable time.

Bonds issued pursuant to this subsection shall have a maturity

of no more than ten years from the date of issuance. The

proceeds from the sale of the bonds are appropriated to the

state highway and transportation department for improvement of

United States highway 666.

H. The state highway commission may issue and sell

state highway bonds in compliance with the provisions of

Section 67-3-59.1 NMSA 1978 in an amount not exceeding one

hundred million dollars ($100,000,000) when the commission

determines the need for the issuance of the bonds. The state

highway commission shall schedule the issuance and sale of the

bonds in the most expeditious and economic manner possible

upon a finding by the commission that the project has been

developed sufficiently to justify the issuance and that the

project can proceed to contract within a reasonable time. The

proceeds from the sale of the bonds are appropriated to the

state highway and transportation department for four-lane

construction of United States highway 285 from interstate 25

to Carlsbad as a state highway project required for the waste

isolation pilot project and eligible for federal reimbursement

or payment as authorized by federal legislation.

I. Any unexpended or unencumbered balances

remaining six months after the completion of a project

authorized in Subsections A through H of this section shall

revert to the state road fund. If the state highway

commission has not certified the need for the issuance of

bonds for any project authorized in this section by the end of

fiscal year 2001, the authorization provided in this section

shall be void.

J. For the purposes of this section,

"construction", "reconstruction" and "improvement" include

planning, designing, engineering, constructing and acquiring

rights-of-way.

Section 2. STATE ROAD FUND--APPROPRIATION.--Twenty-two

million five hundred thousand dollars ($22,500,000) is

appropriated from the state road fund to the state highway and

transportation department for expenditure in fiscal years 1999

through 2001 for the four-lane construction, including

planning, designing, engineering, constructing and acquiring

rights-of-way, of United States highway 70, contingent upon

the commitment by the state highway and transportation

department of one hundred twenty-two million five hundred

thousand dollars ($122,500,000) in matching federal funds to

the project. Any unexpended or unencumbered balance remaining

at the end of fiscal year 2001 shall revert to the state road

fund.

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