April 8, 1999

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 637, with emergency clause and certificate of correction, enacted by the Forty-Fourth Legislature, First Session, 1999.

This legislation amends existing law pertaining to tax-increment financing apparently for the sole purpose of facilitating the re-development of the former Albuquerque High School. The existing array of financing and development options are sufficient to complete this project if it is in any way viable. This bill would allow for this redevelopment project in Albuquerque to be built without voter approval. If this proposed project, in downtown Albuquerque, cannot attract sufficient public and private capital, then perhaps the project, rather than state statutes, should be amended.

Sincerely,

Gary E. Johnson

Governor