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CITY OF PI EAsANToN <br /> COUNTY OF ALAMEDA <br /> STATE OF CALIFORNIA <br /> <br /> APPROVED AS TO FOR <br /> <br />WILLIAM A. HIRST, City Attol <br /> <br />E.~SOLUTION NO, 69-148 <br /> <br />EXPRESSING OPPOSITION TO CONGRESSIONAL LEGISLATION <br />ELIMINATINGTAX EXEMPT STATUS FOR MUNICIPAL BONDS <br /> <br />WHEREAS: It appears that legislation has been introduced in <br /> Congress which would delete tax exempt status for munici- <br /> pal bonds, thus making considerably more difficult the <br /> financing by cities of needed public projects; and <br /> <br />WHEREAS: The Legislature of the State of California has adopted <br /> Assembly Joint Resolution No. 40, strongly opposing <br /> such Federal legislation. <br /> <br />NOW, THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY <br />OF PLEASANTON RESPECTFULLY MEMORIALIZES THE PRESIDENT AND THE <br />CONGRESS OF THE UNITED STATES AS FOLLOWS: <br /> <br /> 1. That no change be made Which would deprive state and <br /> local government obligations of their traditional immuni- <br /> ty from federal taxation; <br /> <br /> 2. That no change be made Which would result in constrictioz <br /> of the market for bonds issued by the states or local <br /> governments; <br /> <br /> 3. That no change be made which would interpose federal <br /> Judgments relating to the policies of the states or local <br /> governments; and <br /> <br /> 4. That no change is acceptable which would subject borrow- <br /> ing by the states and local governments to the uncertain- <br /> ties of the appropriation processes of the Congress; and <br /> be it further <br /> <br /> Resolved, That the Ct~Z'C~rk of the City of Pleasanton <br />transmit copies of this resolution to She President ~d Vice Presi. <br />dent of the United States, to the Speaker of the House of Represen- <br />tatives, and to each Senator and Representative from California in <br />the Congress of ~® United .States. <br /> <br />DATED: June 23, 1969 <br />ATTEST: ~J ~. ~~ <br /> BERNARD T~GERTON, Mayor <br /> <br />~E~EN C.N~CA~Ty,.rCtty Clerk <br /> <br /> <br />