0001|                           SENATE BILL 171
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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|                          LEONARD LEE RAWSON
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0005|     
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0006|                                   
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0007|     
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0008|                                   
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0009|     
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0010|                                AN ACT
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0011|     RELATING TO FINANCE; CREATING THE GENERAL SERVICES AVIATION
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0012|     EQUIPMENT PROJECT FUND IN ORDER TO SEGREGATE FUNDS TO BE USED
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0013|     TO REPAY A LOAN OR LOANS TO PURCHASE A RESEARCH AIRPLANE AND
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0014|     RELATED EQUIPMENT; DECLARING AN EMERGENCY.
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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.  GENERAL SERVICES AVIATION EQUIPMENT PROJECT
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0018|     FUND--PURPOSE--ADMINISTRATION.--
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0019|               A.  The "general services aviation equipment
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0020|     project fund" is created in the state treasury.  The fund
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0021|     shall be administered by the general services department and
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0022|     shall consist solely of money received by the general services
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0023|     department pursuant to a lease agreement between the general
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0024|     services department and the physical sciences laboratory of
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0025|     New Mexico state university.  No money derived from property
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0001|     taxes, state general fund revenues or general appropriations
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0002|     shall be deposited in the fund.  Money in the fund shall not
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0003|     revert to the general fund at the end of a fiscal year.
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0004|               B.  Money in the general services aviation
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0005|     equipment project fund is appropriated for expenditure by the
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0006|     general services department for the purpose of repaying a loan
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0007|     or loans to purchase a research airplane and related
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0008|     equipment.
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0009|               C.  The general services department is authorized
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0010|     to enter into loan agreements and loans payable from the
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0011|     general services aviation equipment project fund with the
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0012|     physical sciences laboratory of New Mexico state university
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0013|     and with the New Mexico finance authority on such terms and
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0014|     conditions deemed necessary or desirable by the general
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0015|     services department.
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0016|               D.  Money in the general services aviation
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0017|     equipment project fund shall be expended only on warrants
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0018|     drawn by the secretary of finance and administration pursuant
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0019|     to vouchers signed by the secretary of general services or his
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0020|     authorized representative.
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0021|               E.  The legislature shall not repeal, amend or
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0022|     otherwise modify any law that affects or impairs the deposit
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0023|     in the general services aviation equipment project fund until
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0024|     all loans payable from the fund are fully paid and discharged
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0025|     or provisions have been made for their full payment and
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0001|     discharge.
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0002|          Section 2.  EMERGENCY.--It is necessary for the public
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0003|     peace, health and safety that this act take effect
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0004|     immediately.
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0005|                              
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