Laserfiche WebLink
<br />. <br /> <br />e <br /> <br />Resolution 85-12, Page 2 <br /> <br />WHEREAS, the President's municipal bond proposals will <br />result in an increase in costs which must be passed on to the <br />residents of La Porte, Texas, will reduce the ability of City <br />of La Porte to provide vital public services to such residents <br />and will impose added federal bureaucratic controls over the <br />provision of such services; <br /> <br />BE IT, THEREFORE, RESOLVED, BY THE CITY COUNCIL OF THE <br />CITY OF LA PORTE: <br /> <br />Section 1. That the City Council of La Porte, Texas goes <br />on record as opposing the limitations and restrictions on <br />municipal bonds proposed by the President, which, if enacted <br />into law would adversely affect all tax-exempt municipal <br />bonds, including bonds issued by the City of La Porte; and <br /> <br />BE IF FURTHER RESOLVED, that copies of this Resolution <br />shall be sent to members of Congress urging them to oppose the <br />provisions of the President's tax proposals which would impose <br />new limitations on the issuers and purchasers of municipal <br />bonds'. <br /> <br />Section 2. That this Resolution shall be effective from <br />and after its adoption. <br /> <br />Passed and approved on the ~ day of August, 1985. <br />