HomeMy WebLinkAboutReso 2944-1959 RESOLUTION NO. 2944
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SOUTH SAN FRANCISCO OPPOSING THE TAXING OF INTEREST
ON MUNICIPAL BONDS
WHEREAS, municipal bonds provide an efficient, effective method whereby muni-
cipalities may finance required capital improvements, and
WHEREAS, any removal of, or modification of, the tax exempt status of municip~
bond interest would substantially add to the cost of financing capital improvements of
local and state government and further add a burden on local taxpayers.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San
Francisco that we do oppose the removal or modification of the tax exempt status of
municipal bond interest by new legislation or otherwise.
BE IT FURTHER RESOLVED that a Copy of this resolution be sent to the United
States House Ways and Means Committee.
I hereby certify that the foregoing resolution was regularly intro-
duced and adopted by the City Council of the City of South San Francisco at
a regular meeting held this 21st day of December, 1959, by the following vote:
AYES,
NOES,
ABSENT,
Councilmen Andrew Rocca, G. J. Rozzi, Emilio Cortesi, Leo J. Ryan
and Patrick E. Ahern
None
None
ATTEST: ARTHUR A. RODONDI
CITY CLERK