HomeMy WebLinkAboutResolution 1969-011B
CITY OF NORTH RICHLAND HILLS
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A RESOLUTION n Jj
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 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 North
Richland Hills 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
governments; and
BE IT FURTHER RESOLVED that a copy of this Resolution be
mailed to the United States Senators from Texas, and to the
Member(s) of Congress in whose district the City of North Richland
Hills is located.
PASSED AND APPROVED at North Richland Hills Texas, this
the
14th
day of
ATTEST:
, 1969.
July
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