NMSA 1978, § 7-27-12.6 — 7-27-12.6

Supplemental severance tax bonds; education
technology infrastructure. (Repealed effective July 1, 2030.)

# A.

The director of the office of broadband access and expansion may certify that up
to ten million dollars ($10,000,000) of proceeds of supplemental severance tax bonds
per fiscal year are needed for expenditures relating to education technology
infrastructure pursuant to the Broadband Access and Expansion Act [Chapter 63, Article
9J NMSA 1978]. The certification shall specify the total amount needed.

# B.

The state board of finance may issue and sell supplemental severance tax bonds
in compliance with the Severance Tax Bonding Act when the director of the office of
broadband access and expansion certifies the need for the issuance of the bonds
pursuant to the Broadband Access and Expansion Act. The amount of the bonds sold
at each sale shall not exceed the lesser of:
(1) the total of the amounts certified by the director of the office of broadband
access and expansion; or
(2) the amount that may be issued pursuant to the restrictions of Section 7-
27-14 NMSA 1978.

# C.

The state board of finance shall schedule the issuance and sale of the bonds in
the most expeditious and economical manner possible.

# D.

The proceeds from the sale of the bonds are appropriated to the education
technology infrastructure fund for the purposes of the fund.

# E.

The provisions of this section shall be repealed effective July 1, 2030.