FORTY-SEVENTH LEGISLATURE

FIRST SESSION, 2005

March 16, 2005

Mr. Speaker:

    Your APPROPRIATIONS AND FINANCE COMMITTEE, to whom has been referred

SENATE FINANCE COMMITTEE SUBSTITUTE FOR

SENATE BILL 935

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

    1. On page 1, line 15, after "CENTER", strike the remainder of the line and strike line 16 through "FACILITIES".

    2. On page 2, line 23, strike "Subsection A" and insert in lieu thereof "Subsections A and B".

    3. On page 4, line 4, after "impair", insert "or reduce debt service coverage for".

    4. On page 4, line 13, strike the closing quotation mark and between lines 13 and 14, insert the following subsection:

         "I. The New Mexico finance authority may purchase revenue bonds issued pursuant to this section with money in the public project revolving fund pursuant to the provisions of Section 6-21-6 NMSA 1978."".

    5. On page 4, line 14 through page 5, line 6, strike Section 2 in its entirety.

    6. Renumber the succeeding section accordingly.