March 11, 1998

The Honorable Raymond G. Sanchez and

Members of the House of Representatives

Executive-Legislative Building

Santa Fe, New Mexico 87503

Honorable Speaker and Members of the House:

I have this day VETOED and am returning HOUSE BILL 225, as amended,

passed by the Forty-Third Legislature, Second Session, 1998.

This legislation in its original form, simply authorized the New Mexico Finance Authority to make certain equipment loans. I vetoed this legislation because in its final form it makes a $4 Million grant to the University of New Mexico Law School from the Public Project Revolving Fund contingent on the University of New Mexico Board of Regents agreeing not privatizing the bookstore and athletics enterprises. This is objectionable for two reasons: The bill sets an ill-advised precedent of drawing on the Public Project Revolving Fund for capital outlay appropriations. It is also an inappropriate attempt to limit the rightful authority of the University of New Mexico Board of Regents.

Sincerely,

Gary E. Johnson

Governor

hemv225