HomeMy WebLinkAboutCity Council - 3044 RESOLUTION N0. 3044
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF HUNTINGTON BEACH, CALIFORNIA, REQUESTING
THE LEAGUE OF CALIFORNIA CITIES TO OPPOSE 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
If such proposed legislation is adopted, it will con-
strict substantially the market for State and local govern-
ment bonds, increase the cost of capital financing for
localities, and 'raise innumerable legal and constitutional
problems; and
The City of Huntington Beach is opposed to any such
changes and desires the League of California Cities to adopt
a resolution opposing such legislation:
NOW, THEREFORE, BE IT RESOLVED by the Council of the
City of Huntington Beach, California, as follows :
1. The City of Huntington Beach is opposed to the pro-
posed legislation to change the current tax exemption on
State and local government bond interest .
2 . That the Resolution Committee of the League of
California Cities hereby is 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 .
3 . 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,
1.
Chairman, Ways and Means Committee, U. S. House of
Representatives; Senator Russell B. Long, Chairman, Committee
on Finance, U. S. Senate and the Orange County Division of the
League of California Cities .
PASSED AND ADOPTED by the City Council of the City of
Huntington Beach at a regular meeting held on the 2nd day
of September 1969 .
Mayor
ATTEST:
City erk
ED AS ,�jFO
City Attorne
2
Res. No. 3044
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) ss :
CITY OF HUNTINGTON BEACH )
I , PAUL C. JONES , the duly elected , qualified and
acting City Clerk of the City of Huntington Beach, and ex-
officio Clerk of the City Council of said City, do hereby
certify that the whole number of members of the City Council
of the City of Huntington Beach is seven; that the foregoing
resolution was passed and adopted by the affirmative vote of
more than a majority of all the members of said City Council
at a regular meeting thereof held on the 2nd
day of _September 10L, by the following vote :
AYES: Councilmen:
Bartlett, Kaufman, Caen,, Green
NOES: Councilmen:
None
ABSENT: Councilmen:
City Clerk and x-officio Clerk
of the City Council of the City
of Huntington Beach, California