Draft of Suggested Language for the Library Bond Issue Portion of the 2010 Capital Projects General Obligation Bond Bill – Revised December 15, 2009, 2009
By Joe Sabatini, Co-Chair, New Mexico Library Association Legislation Committee (jsabatin@osogrande.com)
Based on texts from 2002, 2004, 2006 and 2008 Bond Bills.
AN ACT AUTHORIZING THE ISSUANCE AND SALE OF CAPITAL PROJECTS GENERAL OBLIGATION BONDS TO MAKE CAPITAL EXPENDITURES FOR SENIOR CITIZEN FACILITY IMPROVEMENTS AND ACQUISITIONS, FOR LIBRARY ACQUISITIONS, FOR HEALTH FACILITIES AND FOR CAPITAL IMPROVEMENTS AND ACQUISITIONS AT INSTITUTIONS OF HIGHER EDUCATION AND STATE SPECIAL SCHOOLS; PROVIDING FOR A TAX LEVY FOR PAYMENT OF PRINCIPAL OF, INTEREST ON AND CERTAIN COSTS RELATED TO THE BONDS; REQUIRING APPROVAL OF THE REGISTERED VOTERS AT THE 2010 GENERAL ELECTION OF THE STATE; DECLARING AN EMERGENCY. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
Section 1. SHORT TITLE.–This act may be cited as the “2010 Capital Projects General Obligation Bond Act”.
Section 10. PROJECTS.–The proceeds from the sale of bonds issued under the provisions of the 2010 Capital Projects General Obligation Bond Act shall be distributed as follows for the purposes and in the amounts specified:
B. for library acquisitions at public libraries, tribal libraries, public school libraries and academic libraries statewide:
(1) to the cultural affairs department:
(a) six million dollars ($6,000,000) for supplemental library resource acquisitions, including books, equipment, and planning, design and construction of capital improvements to include library facilities for public libraries statewide; and
(b) one million two hundred fifty thousand dollars ($1,250,000) for supplemental library resource acquisitions, including books, equipment, and planning, design and construction of capital improvements to include library facilities for tribal libraries statewide;
(2) to the public education department, six million five hundred thousand dollars ($6,500,000) for supplemental library resource acquisitions, including library books and resources for public school libraries statewide; and
(3) to the higher education department, six million five hundred thousand dollars ($6,500,000) for supplemental library resource acquisitions, including books, equipment and resources for academic libraries statewide;
Section 11. ELECTION.–
A. Bonds issued pursuant to the 2010 Capital Projects General Obligation Bond Act shall be submitted to the registered voters of the state at the general election to be held in November 2010, and, if they receive a majority of all the votes cast thereon at such election, shall take effect upon certification of the state canvassing board announcing the results of such election. No bonds shall be issued or sold under that act until the registered voters of this state have voted upon and approved the bonds and property tax as provided in this section. Any bonds issued under that act shall be issued within thirty months from the date of such election.
B. The ballots used at the 2010 general election shall contain substantially the following language:
(2) “The 2010 Capital Projects General Obligation Bond Act authorizes the issuance and sale of library acquisition bonds. Shall the state be authorized to issue general obligation bonds in an amount not to exceed twenty million two hundred forty four thousand dollars ($20,244,000) to make capital expenditures for public, tribal, public school and academic library acquisitions and provide for a general property tax imposition and levy for the payment of principal of, interest on and expenses incurred in connection with the issuance of the bonds and the collection of the tax as permitted by law?
For________________ Against___________________”;