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 228, as amended,

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

This legislation authorizes the New Mexico Finance Authority to make certain emergency loans and to make small wastewater and drinking water grants. This legislation is vetoed because the grants contemplated in this bill must be approved by two interim committees of the legislature. This bill inserts legislative interim committees into decisions which are rightfully the province of the finance authority. As such this bill adds another level of unnecessary bureaucracy.

Sincerely,

Gary E. Johnson

Governor

hemv228