March 8, 2001

Mr. President:

Your FINANCE COMMITTEE, to whom has been referred

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

1. On page 15, line 4, strike "only".

2. On page 16, line 12, strike "may" and insert in lieu thereof "shall determine whether the district should be formed based upon the interests, convenience or necessity of the owners, residents of the district and citizens of the municipality or county in which the proposed district would be located. If the governing body determines that the district should be formed, it shall".

3. On page 18, line 15, strike "and".

4. On page 18, line 20, strike the period and insert in lieu thereof "; and".

5. On page 18, between lines 20 and 21, insert the following new paragraph:

"(8) that the imposition of property taxes or special levies will result in a lien for the payment thereof on property within the district.".

6. On page 21, line 3, strike "If a" and insert in lieu thereof "At least a three-fourths" and strike "is in favor of" and insert in lieu thereof "shall be required for".

7. On page 21, line 4, after "tax" insert "or special levy".

8. On page 21, line 5, after "tax" strike the comma and the remainder of the line and insert in lieu thereof "or special levy.".

9. On page 22, line 21, strike "a" and insert in lieu thereof "at least a three-fourths".

Respectfully submitted,

_______________________________

Ben D. Altamirano, Chairman

Adopted_______________________ Not Adopted_______________________

(Chief Clerk) (Chief Clerk)

Date ________________________

The roll call vote was 6 For 0 Against

Yes: 6

No: 0

Excused: Carraro, Rawson, Rodriguez, Tsosie

Absent: None

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