HomeMy WebLinkAboutReso 5107-1969 RESOLUTION NO. 5107
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION CONCERNING THE TAXATION OF
STATE AND LOCAL GOVERNMENT BONDS.
WHEREAS, the Ways and Means Committee of the United States
House of Representatives has conducted extensive hearings on
proposals for equitable reform of the Federal Personal Income
Tax, and
WHEREAS, several proposals have been made, including
the Limit on Tax Preference, Urbank Legislation, and the
Federal Guarantee of Municipal Bonds (Proxmire/Patman Bill),
and
WHEREAS, this City Council supports the objectives of
tax reform but opposes changes which would weaken the capacity
of the State and local governments to meet the needs for State
and local services, and
WHEREAS, the California Legislature in the 1969 Regular
Session through Assembly Joint Resolution No. 40 has memorialized
the President and Congress that no changes be made which would
deprive State and local government obligations of immunity
from Federal taxation, or which would result in constriction
of the market for State and local government bonds, or which
would interpose Federal judgment relating to policies of
State and local governments, or which would subject State
and local borrowing to uncertainties of the appropriation
process of Congress;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of South San Francisco that said Council does respectfully
memorialize the President and the Congress of the United States
that no changes be made which would deprive State and local
government obligations of immunity from Federal taxation, or
which would result in constriction of the. market for State and
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local government bonds, or which would interpose Federal judg-
ment relating to policies of State and local governments~ or
which would subject State and local borrowings to the uncer-
tainties of the.appropriation process of Congress.
BE IT FURTHER RESOLVED that a copy of this Resolution
be forwarded to the President and Vice President of the United
States, to the Speaker of the House of Representatives, and
to the following: Honorable Alan Cranston, United States
Senator; Honorable George Murphy, United States Senator;
Honorable Paul N. (Pete) McCloskey, House of Representatives;
Honorable James C. Corman, House of Representatives; Honorable
James B. Utt, House of Representatives; and Honorable Wilbur D.
Mills, Chairman, House Ways and Means Committee, House of
of Representatives.
I hereby certify that the foregoing Resolution was
regularly introduced and adopted by the City Council of the
regular meeting
, 1969 ~ by the
City of South San Francisco at a
held on the 16th day of June
following vote:
AYES, COUNCILMEN
NOES, "
ABSENT, "
Frank J. Bertucelli, Patrick E. Ahern, F. Frank
Nammini, Andrew Rocca and Warren Steinkamp
None
None
ATTEST:
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