EXPANDING THE PURPOSE FOR STATE HIGHWAY BONDS AUTHORIZED FOR THE SOUTHWEST LOOP IN ALBUQUERQUE PURSUANT TO SUBSECTION F OF SECTION 1 OF CHAPTER 85, LAWS 1998; MAKING AN APPROPRIATION; DECLARING AN EMERGENCY.

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

Section 1. SOUTHWEST LOOP IN ALBUQUERQUE--STATE HIGHWAY BONDS--EXPAND PURPOSE.--If the proceeds from state highway bonds authorized pursuant to Subsection F of Section 1 of Chapter 85 of Laws 1998 and appropriated to the state highway and transportation department for construction of the southwest loop in Albuquerque, including the Paseo del Volcan interchange at interstate 40, cannot be used for that project in a timely manner, the state highway and transportation department may use the proceeds to improve any road classified as a current or future principal arterial that is located south of interstate 40 and west of interstate 25 in Bernalillo county and the proceeds are appropriated for that purpose.

Section 2. EMERGENCY.--It is necessary for the public peace, health and safety that this act take effect immediately.

HB 564

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