86-7151R27
RESOLUTION N0. 7151
RESOLUTION ON TAX EXEMPT BONDS
WHEREAS, borrowing in the tax exempt market place has been.,
essential to local governments and non-profit organizations,
and;
WHEREAS, tax exempt borrowing for eligible issuers is
important to all citizens and taxpayers, and;
WHEREAS, declining federal participation back to state and
local governments makes tax exempt borrowing even more
' essential,. and;
WHEREAS, H.R. 3838. is punitive and historically
unprecedented in relation to tax exempt bonds.
NOW, THEREFORE, BE IT RESOLVED that we require immediate __
attention to moving forward the effective date of sections of
the bill addressing tax exempt bonds to at least January 1,
1987, and;
BE IT FURTHER RESOLVED that the Senate Finance Committee
grant the tax exempt, bond issuers and industry a full hearing,
and;
BE IT FURTHER RESOLVED that governmental agencies be
excluded-from the state-by-state bond volume caps.
Pasyed by the'City Council of Ric ~)ield,,~l~nn~sota, this
10th da of March- 1986. ~~~~
a~t~~ton Mayor
ATTE
-~
Thomas Ferber City Clerk