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RES 230 XX B
... ••� ia<._ � l{� ,l� bt; °'• (ter' ®2 30 X x CITY OF BEAUMONT A R E S 0 L U T I 0 N IN OPPOSITION TO ANY LIMITATION ON THE TAX EXEMPT STATUS OF INTEREST PAID ON MUNICIPAL BONDS WHEREAS, the Congress of the United States is consid- ering several plans which would limit the exempt status for income purposes of interest paid on bonds issued by 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 BEAUMONT: That it 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 government; and BE IT FURTHER.RESOLVED that a copy of this Resolution be mailed to the United States Senators from Texas, and to the Members of Congress in whose district The City of Beaumont is located. PASSED AND APPROVED at Beaumont, Texas, this the 22nd day of July, 1969. ATTEST: -04 +-V7 ('1 arlr_ iyldyyL - ` ' ! I X 11 .a .. .. .:.. ` t _ \� - __ t s - ' - - q �. July 23, 1969 t: .' h r f - ; a `1. f _ t. r, r� I. r - ,.1 R ti,. 1 1 - 7 ]�. ,�. I3;' . r it �.!1. 9.. ,. 0 ii 'YY � I - .1 ---" y r i „ice` +C ,'i=' - �to�lorable Johr' Tonder art Senate Off c,&.,Btildlin f Washln&t.ons D ,C ,' +. -' , R Dear Sir• - + .5 - - - A�t�ctied here�ith is a eoi�y o a-rosoluion in oppnsitic?n to 'any1. limb tatlo1.n on the pax:; exempt - ,', status af- interest:pald ,on ,.tin, q p,�- .bands Thas F' : Kas- passed by, mmk, ,f ltv `{�UL�nci� , o The 1.resolution y-. Git of 3eaumoi�t, ,'Cues An July ?� 106�J �- � . , _ ,i .; T1ii�- is £�r your lis and roc6r -h Yours:very truly;, _ , _ ;' j f R.: , R - -' 3 , ;, -. J4a zl-i Garrard , - jj�Tar 'C 1 V -1. Tl e,, i' '� '` w F-,*+,. x -1-211-11. I .1 L Y A V J'TG�i' em�a . 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I � I -� -j - . . � , � � � July 23, 1969 Mr. Patrick Healy Executive Director National League of Cities 1612 f. Street, MW Washington, D.C. 20006 Dear Mr. Healy: Attached is a copy of a resolution adopted by the City Council of the City of Beaumont, Texas at its regular meeting held.Tuesday, July 22-, 1969. Copies have been sent to Senators Yarbrough.and.Tower, and Congressman Jack: Brooks. ' You can count on the City of Beaumont to. -do what it_,can to protect the tax exempt,status,of Municipal_ Bonds._ Payor McNicholas requested that I forward to your attention the.atteched copy of the resolution. JTG:c attachment Yours very truly, Jas. T. Garrard City Clerk