IN SANTA FE, A BILL REVAMPING THE EMBATTLED NEW MEXICO FINANCE AUTHORITY WINS UNANIMOUS APPROVAL IN A SENATE COMMITTEE. THE BILL IS IN RESPONSE TO THE NEWS LAST YEAR THAT A FINANCIAL AUDIT BY THE N-M-F-A HAD BEEN FAKED. THE MEASURE WOULD GIVE BOTH THE GOVERNOR AND LEGISLATURE THE POWER TO APPOINT BOARD MEMBERS...AND REQUIRE THAT MEMBERS HAVE A CERTAIN AMOUNT OF BANKING EXPERIENCE.

THE FINANCE AUTHORITY PROVIDES LOANS TO CITIES AND COUNTIES ACROSS THE STATE.