March 9,1998

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 SIGNED House Transportation Committee Substitute for House Bill 516, as amended, passed by the Forty-Third Legislature, Second Session, 1998, but have VETOED

the following item or items, part or parts:

On page 2, I have vetoed all of line 8 and I have vetoed line 9 through "issuance.". On page 3, line 10 I have vetoed "Bonds issued", all of line 11 and I have vetoed line 12 through "issuance.". On page 3, line 25 I have vetoed "Bonds issued" and on page 4, I have vetoed all of line 1 and I have vetoed line 2 through "issuance.". On page 4, I have vetoed all of line 18 and I have vetoed line 19 through "issuance.". On page 5, I have vetoed all of line 9, I have vetoed line 10 through "issuance." and all of line 25. On page 6, I have vetoed line 1 through "issuance.". The effect of these vetoes is to remove the requirement that the authorized bonds mature within 10 years of issuance. I eliminated these maturity requirements in the event that a longer term becomes necessary. I am confident that the bonds will be issued in a prudent and fiscally conservative manner, however additional flexibility may be desirable at some point in the future.

On page 2, line 13 after "Albuquerque.", I have vetoed the remainder of the line and all of lines 14 through 25. This veto removes the requirement for a "mitigation plan" in conjunction with the reconstruction of the intersection of Interstate 25 and Interstate 40. Although such a plan is a necessary part of this project, the language in this legislation appears to make this effort unnecessarily difficult and could increase the overall cost of the project significantly.

Sincerely,

Gary E. Johnson

Governor

Date:______________________ h516h121pv