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HomeMy WebLinkAboutResolution 1969-011B CITY OF NORTH RICHLAND HILLS ""I 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 COli IL~ ?J! .. W2ß~./ ~~ J C~CI, y~~~ COpNCILMAN J tÆ :LJiL., ~ r? £j)f)Q COUNCILMAN « COUNCILHAN