RESOLUTION 2006 -12

BUDGET INCREASE GENERAL FUND

SALE OF CCNG

WHEREAS, the Village of Capitan and Town of Carrizozo have sold the Capitan-Carrizozo Natural Gas Company to Zia Natural Gas Company for $250,000.00; and

WHEREAS, the Village of Capitan received $125,000.00 as their share of the proceeds of the sale; and

WHEREAS, the Village of Capitan also received $33,076.58 from the Capitan-Carrizozo Revenue account and $16,892.36 from the Capitan Carrizozo checking account; and

WHEREAS, the Governing Body in and for the Village of Capitan, State of New Mexico, meeting in regular session on the 13 day of March, 2006 desires to use a portion of this non-reoccurring revenue to purchase the Town of Carrizozo’s portion of the Capitan-Carrizozo Natural Gas Company building, which is located in Capitan, for the sum of $30,000.00; and

NOW THEREFORE, BE IT RESOLVED that the Governing Body of the Village of Capitan, meeting in regular session on the 13 day of March, 2006 does respectfully request approval from the DFA to adjust the 2005 — 2006 budget by allowing an increase in budgeted income in the amount of $174,968.94 and an increase in budgeted expenditures in the amount of $30,000.00 in the General Fund. New line items will be created under other income and other expense to account for the monies received and spent;

DONE, PASSED AND APPROVED by the Governing Body of the Village of Capitan, Lincoln County, New Mexico on this 13 day of March, 2006.

Sam Hammons, Mayor

ATTEST:

Kay Strickland, Village Clerk

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