HomeMy WebLinkAbout69-241 07-08-1969RESOLUTION NO. 241
A RESOLUTION IN OPPOSITION TO ANY LIMITATION ON THE
TAX EXEMPT STATUS OF INTEREST PAID ON MUNICIPAL BONDS
WHEREAS, the Congress of the United States is considering several plans which
would limit the exempt status for income purposes of interest paid on bonds issued
by the cities; and
WHEREAS, any limitation on tax exemption of interest paid on municipal bonds
will result in higher interest rates to be paid by cities, and limit the market for
such bonds; and
WHEREAS, such limitation on tax exemption of interest paid on municipal bonds
will handicap local government in securing funds for public improvements, and increase
the burden on local taxpayers and on users of public facilities;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EULESS, TEXAS:
1.
That the City Council of the City of Euless, Texas go on record as opposing
any plan by the Congress of the United States that would in any way limit the tax
exempt status of interest paid on bonds issued by state or local governments; and
2.
That a copy of this Resolution be mailed to the United States Senators from
Texas, and to the Member of Congress in whose district the City of Euless is located.
ADOPTED AND APPROVED this 8th day of July , 1969, by a vote of 5
ayes and O nays at a regular meeting of the City Council of the City of Euless,
Texas.
ATTEST:
JAA-4,:d-Y
City Secretary