HomeMy Public PortalAbout73-210RESOLUTION NO. 73-210
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CARSON SUPPORTING TAX EXEMPT STATUS OF MUNICIPAL
BONDS
WHEREAS, attempts are currently being made in Congress to compromise
the long-standing tax exempt status of municipal bonds by an offer of federal subsidies
to those cities which elect to issue taxable municipal bonds; and
WHEREAS, this proposal and others like it are intended to weaken oppo-
sition and lead the way to eventual elimination of the tax exempt status of municipal
bonds; and
WHEREAS, the retention of the tax exempt status of municipal bonds is
vital to the continued well-being of cities since the loss of tax exempt status would
adversely effect the salability of such bonds, substantially increase the costs of long
term borrowing, seriously delay accomplishment of much needed local improvements,
and increase the costs of local government to the detriment of the local taxpayer;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City
of Carson does hereby oppose any attempt to alter, diminish or eliminate the tax exempt
status of municipal bonds and urges Congress to reject any such proposal .
BE IT FURTHER RESOLVED that the City Clerk be instructed to mail a
copy of this resolution to appropriate Senate and House Committees and to the Congressional
Representatives of the City of Carson to voice their opinions and objections.
ATTEST:
PASSED, APPROVED and ADOPTED this 19th day of November, 1973.
VJ
CITY CLERK
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss
CITY OF CARSON )
1, Morris B. Vance, City Clerk of the City of Carson, California, do
hereby certify that the whole number of members of the City Council of said City is five;
that the foregoing resolution, being Resolution No. 73-210, was duly and regularly adopted
by the City Council of said City at a regular meeting of said Council, duly and regularly
held on the 19th day of November, 1973, and that the same was so passed and adopted by
the following vote:
AYES: COUNCILMEN: Bridgers, Colas, Marbut, Smith & Yamamoto.
NOES: COUNCILMEN: None.
ABSENT: COUNCILMEN: None.
0'41� iff 64IC-2-
ity ee , ity of Carson, California