0001|            HOUSE TRANSPORTATION COMMITTEE SUBSTITUTE FOR
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0002|                            HOUSE BILL 516
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0003|     43rd legislature - STATE OF NEW MEXICO - second session, 1998
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0004|                                   
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0005|     
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0007|                                   
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0008|     
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0009|                                   
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0010|     
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0011|                                AN ACT
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0012|     RELATING TO THE PUBLIC PEACE, HEALTH, SAFETY AND WELFARE;
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0013|     AUTHORIZING THE ISSUANCE OF STATE HIGHWAY BONDS FOR CERTAIN
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0014|     STATE HIGHWAY PROJECTS; MAKING APPROPRIATIONS.
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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.  STATE HIGHWAY BONDS--PURPOSES FOR WHICH
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0018|     ISSUED--APPROPRIATION OF PROCEEDS.--
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0019|               A.  The state highway commission may issue and sell
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0020|     state highway bonds in compliance with the provisions of
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0021|     Section 67-3-59.1 NMSA 1978 in an amount not exceeding two
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0022|     hundred fourteen million dollars ($214,000,000) when the
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0023|     commission determines the need for the issuance of the bonds. 
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0024|     The state highway commission shall schedule the issuance and
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0025|     sale of the bonds in the most expeditious and economic manner
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<center>- 1 -</center>0001|     possible upon a finding by the commission that the project has
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0002|     been developed sufficiently to justify the issuance and that
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0003|     the project can proceed to contract within a reasonable time. 
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0004|     The proceeds from the sale of the bonds are appropriated to
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0005|     the state highway and transportation department for the four-
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0006|     lane construction and improvement of state highway 44 from
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0007|     Bernalillo to Bloomfield.
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0008|          B.  The state highway commission may issue and sell state
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0009|     highway bonds in compliance with the provisions of Section
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0010|     67-3-59.1 NMSA 1978 in an amount not exceeding two hundred ten
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0011|     million dollars ($210,000,000) when the commission determines
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0012|     the need for the issuance of the bonds.  The state highway
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0013|     commission shall schedule the issuance and sale of the bonds
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0014|     in the most expeditious and economic manner possible upon a
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0015|     finding by the commission that the project has been developed
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0016|     sufficiently to justify the issuance and that the project can
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0017|     proceed to contract within a reasonable time.  Bonds issued
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0018|     pursuant to this subsection shall have a maturity of no more
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0019|     than ten years from the date of issuance.  The proceeds from
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0020|     the sale of the bonds are appropriated to the state highway
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0021|     and transportation department for the reconstruction of the
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0022|     interstate 40 and interstate 25 interchange in Albuquerque. 
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0023|     The state highway and transportation department shall develop
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0024|     and implement a comprehensive mitigation plan associated with
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0025|     the reconstruction.  The plan shall be developed and
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<center>- 2 -</center>0001|     implemented in coordination with all affected entities,
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0002|     including the city of Albuquerque and Bernalillo, Valencia and
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0003|     Sandoval counties.  The plan shall address mitigation of the
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0004|     impacts during the project and shall minimize, as much as
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0005|     practicable, the impact of the construction and related traffic
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0006|     flows on adjacent neighborhoods, businesses and, in particular,
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0007|     the Albuquerque central business district, the university of New
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0008|     Mexico and the nearby health care institutions.  The plan shall
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0009|     include a projected cost for implementation.
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0010|               C.  The state highway commission may issue and sell
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0011|     state highway bonds in compliance with the provisions of Section
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0012|     67-3-59.1 NMSA 1978 in an amount not exceeding twenty million
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0013|     dollars ($20,000,000) when the commission determines the need for
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0014|     the issuance of the bonds.  The state highway commission shall
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0015|     schedule the issuance and sale of the bonds in the most
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0016|     expeditious and economic manner possible upon a finding by the
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0017|     commission that the project has been developed sufficiently to
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0018|     justify the issuance and that the project can proceed to contract
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0019|     within a reasonable time.  Bonds issued pursuant to this
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0020|     subsection shall have a maturity of no more than ten years from
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0021|     the date of issuance.  The proceeds from the sale of the bonds

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0022|     are appropriated to the state highway and transportation
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0023|     department for construction of the Santa Fe relief route.
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0024|               D.  The state highway commission may issue and sell
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0025|     state highway bonds in compliance with the provisions of Section
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<center>- 3 -</center>0001|     67-3-59.1 NMSA 1978 in an amount not exceeding eighty million
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0002|     dollars ($80,000,000) when the commission determines the need for
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0003|     the issuance of the bonds.  The state highway commission shall
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0004|     schedule the issuance and sale of the bonds in the most
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0005|     expeditious and economic manner possible upon a finding by the
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0006|     commission that the project has been developed sufficiently to
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0007|     justify the issuance and that the project can proceed to contract
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0008|     within a reasonable time.  Bonds issued pursuant to this
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0009|     subsection shall have a maturity of no more than ten years from
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0010|     the date of issuance.  The proceeds from the sale of the bonds
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0011|     are appropriated to the state highway and transportation
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0012|     department for the limited-access construction and necessary
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0013|     interchanges for United States highway 70 from Las Cruces east to
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0014|     White Sands missile range road.
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0015|               E.  The state highway commission may issue and sell
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0016|     state highway bonds in compliance with the provisions of Section
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0017|     67-3-59.1 NMSA 1978 in an amount not exceeding one hundred
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0018|     million dollars ($100,000,000) when the commission determines the
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0019|     need for the issuance of the bonds.  The state highway commission
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0020|     shall schedule the issuance and sale of the bonds in the most
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0021|     expeditious and economic manner possible upon a finding by the
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0022|     commission that the project has been developed sufficiently to
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0023|     justify the issuance and that the project can proceed to contract
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0024|     within a reasonable time.  Bonds issued pursuant to this
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0025|     subsection shall have a maturity of no more than ten years from
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<center>- 4 -</center>0001|     the date of issuance.  The proceeds from the sale of the bonds
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0002|     are appropriated to the state highway and transportation
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0003|     department for the construction of United States highway 84/285
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0004|     from Santa Fe to Pojoaque.
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0005|               F.  The state highway commission may issue and sell
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0006|     state highway bonds in compliance with the provisions of Section
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0007|     67-3-59.1 NMSA 1978 in an amount not exceeding thirty-five
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0008|     million dollars ($35,000,000) when the commission determines the
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0009|     need for the issuance of the bonds.  The state highway commission
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0010|     shall schedule the issuance and sale of the bonds in the most
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0011|     expeditious and economic manner possible upon a finding by the
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0012|     commission that the project has been developed sufficiently to
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0013|     justify the issuance and that the project can proceed to contract
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0014|     within a reasonable time.  Bonds issued pursuant to this
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0015|     subsection shall have a maturity of no more than ten years from
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0016|     the date of issuance.  The proceeds from the sale of the bonds
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0017|     are appropriated to the state highway and transportation
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0018|     department for construction of the southwest loop in Albuquerque,
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0019|     including the Paseo de Volcan interchange at interstate 40.
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0020|               G.  The state highway commission may issue and sell
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0021|     state highway bonds in compliance with the provisions of Section
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0022|     67-3-59.1 NMSA 1978 in an amount not exceeding forty-five million
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0023|     dollars ($45,000,000) when the commission determines the need for
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0024|     the issuance of the bonds.  The state highway commission shall
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0025|     schedule the issuance and sale of the bonds in the most
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<center>- 5 -</center>0001|     expeditious and economic manner possible upon a finding by the
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0002|     commission that the project has been developed sufficiently to
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0003|     justify the issuance and that the project can proceed to contract
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0004|     within a reasonable time.  Bonds issued pursuant to this
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0005|     subsection shall have a maturity of no more than ten years from
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0006|     the date of issuance.  The proceeds from the sale of the bonds
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0007|     are appropriated to the state highway and transportation
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0008|     department for improvement of United States highway 666.
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0009|               H.  The state highway commission may issue and sell
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0010|     state highway bonds in compliance with the provisions of Section
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0011|     67-3-59.1 NMSA 1978 in an amount not exceeding one hundred
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0012|     million dollars ($100,000,000) when the commission determines the
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0013|     need for the issuance of the bonds.  The state highway commission
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0014|     shall schedule the issuance and sale of the bonds in the most
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0015|     expeditious and economic manner possible upon a finding by the
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0016|     commission that the project has been developed sufficiently to
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0017|     justify the issuance and that the project can proceed to contract
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0018|     within a reasonable time.  The proceeds from the sale of the
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0019|     bonds are appropriated to the state highway and transportation
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0020|     department for four-lane construction of United States highway
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0021|     285 from interstate 25 to Carlsbad as a state highway project
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0022|     required for the waste isolation pilot project and eligible for
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0023|     federal reimbursement or payment as authorized by federal
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0024|     legislation.
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0025|               I.  Any unexpended or unencumbered balances remaining
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<center>- 6 -</center>0001|     six months after the completion of a project authorized in
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0002|     Subsections A through H of this section shall revert to the state
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0003|     road fund.  If the state highway commission has not certified the
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0004|     need for the issuance of bonds for any project authorized in this
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0005|     section by the end of fiscal year 2001, the authorization
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0006|     provided in this section shall be void.
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0007|          Section 2.  STATE ROAD FUND--APPROPRIATION.--Twenty-two
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0008|     million five hundred thousand dollars ($22,500,000) is
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0009|     appropriated from the state road fund to the state highway and
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0010|     transportation department for expenditure in fiscal years 1999
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0011|     through 2001 for the four-lane construction of United States
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0012|     highway 70, contingent upon the commitment by the state highway
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0013|     and transportation department of one hundred twenty-two million
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0014|     five hundred thousand dollars ($122,500,000) in matching federal
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0015|     funds to the project.  Any unexpended or unencumbered balance
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0016|     remaining at the end of fiscal year 2001 shall revert to the
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0017|     state road fund.
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0018|                               
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