HomeMy WebLinkAboutCC Res 1806 1969-09-15
.
.
"
.'
I
RESOLUTION NUMBER 1 J? () b
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SEAL BEACH, CALIFORNIA, REQUESTING THE RESOLUTION
COMMITTEE OF THE LEAGUE OF CALIFORNIA CITIES TO
SUBMIT A RESOLUTION TO THE LEAGUE'S ANNUAL CON-
VENTION OPPOSING ANY CHANGE IN THE CURRENT TAX
EXEMPTION ON STATE AND LOCAL GOVERNMENT BOND
INTEREST.
WHEREAS, proposed legislation to change current tax exemption of
state and local government bond interest is before the congress
of the United States: and
WHEREAS, if such proposed legislation is adopted it will constrict
substantially the market for state and local government bonds,
increase the cost of capital financing for localities, and raise
innumerable legal and constitutional problems:
I
NOW, THEREFORE, BE IT RESOLVED by the city Council of the City of
Seal Beach, California, as follows:
Section 1. That the Resolution Committee of the League of
California Cities be requested to submit a resolution opposing any
change of the current tax exemption of state and local government
bond interest to the Annual Convention of the League of California
cities which is to be held in San Francisco, September 28 through
October 1, 1969.
Section 2. That copies of this resolution be transmitted "
to each senator and representative from California in the Congress
of the United States and to Representative Wilbur D. Mills, Chairman,
Ways and Means Committee, United States House of Representatives:
Senator Russell B. Long, Chairman, Committee on Finance, united
States Senate: and to each city in the State of California.
I
~~
c' c'fe~
... "
" '
"
~ "
':.
'. !lERDYS WEIR. CITY CLERK OF THE CITY OF SEAL
BEACH, DO HEREBY CERTIFY THAT THE FORE-GOING
JS JHE ORIGINAL OF R;;!:OLUTlON NO, / g-~ b
,DULY PASSED A .,., ,...,.........
C ~~PTED BY THE SEAL BEACH
~UNCIL~ j.:::'"~,L~.lo-bq
.. ,~-<. . ...'To.....-/-
~.., , -,...., CITY CLERK
,