FORTY-NINTH LEGISLATURESB 467/a
FIRST SESSION, 2009
February 17, 2009
Madam President:
Your CORPORATIONS AND TRANSPORTATION COMMITTEE, to whom has been referred
SENATE BILL 467
has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:
1. On page 1, line 13, after the semicolon insert "IMPOSING
REQUIREMENTS ON THE AUTHORIZATION;".
2. On page 1, line 22, after "by" insert "tax increments
authorized pursuant to the Tax Increment for Development Act to be
pledged to pay the principal of and interest on the bonds,
including".
3. On page 2, line 3, after "by" insert "tax increments
authorized pursuant to the Tax Increment for Development Act to be
pledged to pay the principal of and interest on the bonds,
including".
4. On page 2, line 22, after "FUND" strike the remainder of
the line and insert in lieu thereof "--ADDITIONAL REQUIREMENTS.--
A. After reimbursement from bond proceeds".
5. On page 3, line 1, strike "gross receipts".
6. On page 3, between lines 10 and 11, insert the following
new subsection:
"B. The New Mexico finance authority may require any
additional covenants and provisions it determines are reasonably
necessary or advisable to ensure that the principal, interest and
other payments due with respect to the bonds authorized pursuant to
Section 1 of this act are paid as soon as possible after tax
increment revenues pledged to pay the bonds are available.".,
and thence referred to the FINANCE COMMITTEE.
Respectfully submitted,
__________________________________
Phil Griego, Chairman
Adopted_______________________ Not Adopted_______________________
(Chief Clerk) (Chief Clerk)
Date ________________________
The roll call vote was 9 For 1 Against
Yes: 9
No: Boitano
Excused: None
Absent: None
SB0467CT1 .176876.1