0001|                            SENATE BILL 56
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0002|     43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998
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0003|                            INTRODUCED BY
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0004|                            R. L. STOCKARD
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0005|     
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0006|                                   
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0007|     
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0008|      FOR THE COURTS, CORRECTIONS AND CRIMINAL JUSTICE COMMITTEE
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0009|     
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0010|                                AN ACT
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0011|     RELATING TO PUBLIC SAFETY; MAKING AN APPROPRIATION TO THE
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0012|     DEPARTMENT OF PUBLIC SAFETY FOR THE PURPOSE OF RECRUITING,
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0013|     EMPLOYING, TRAINING AND EQUIPPING ADDITIONAL STATE POLICE
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0014|     OFFICERS; AUTHORIZING THE ISSUANCE OF SEVERANCE TAX BONDS FOR
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0015|     THE PURPOSE OF EQUIPPING ADDITIONAL POLICE OFFICERS.  
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0016|     
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0017|     BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
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0018|          Section 1.  APPROPRIATION.--Two million eight hundred
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0019|     thousand dollars ($2,800,000) is appropriated from the general
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0020|     fund to the department of public safety for expenditure in
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0021|     fiscal year 1999 for the purpose of recruiting, employing,
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0022|     training and equipping fifty additional state police officers. 
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0023|     Any unexpended or unencumbered balance remaining at the end of
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0024|     fiscal year 1999 shall revert to the general fund.  
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0025|          Section 2.  SEVERANCE TAX BONDS--PURPOSE FOR WHICH
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<center>- 1 -</center>

0001|     ISSUED--APPROPRIATION OF PROCEEDS.--The state board of finance
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0002|     may issue and sell severance tax bonds in compliance with the
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0003|     Severance Tax Bonding Act in an amount not exceeding five
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0004|     million eight hundred thousand dollars ($5,800,000) when the
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0005|     department of public safety certifies the need for the
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0006|     issuance of the bonds.  The state board of finance shall
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0007|     schedule the issuance and sale of the bonds in the most
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0008|     expeditious and economical manner possible upon a finding by
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0009|     the board that the project has been developed sufficiently to
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0010|     justify the issuance and that the project can proceed to
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0011|     contract within a reasonable time.  The state board of finance
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0012|     shall further take the appropriate steps necessary to comply
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0013|     with the Internal Revenue Code of 1986, as amended.  The
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0014|     proceeds from the sale of the bonds are appropriated to the
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0015|     department of public safety for the purpose of equipping forty
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0016|     additional state police officers each fiscal year during
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0017|     fiscal years 2000 through 2002.  Any unexpended or
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0018|     unencumbered balance remaining at the end of fiscal year 2002
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0019|     shall revert to the severance tax bonding fund.  If the
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0020|     department of public safety has not certified the need for the
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0021|     issuance of the bonds by the end of fiscal year 2001, the
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0022|     authorization provided in this section shall be void.
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0023|                              
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