HomeMy WebLinkAboutResolution - 072276A - Opposition To HR12774 - 07_22_1976J/nh
RESOLUTION
WHEREAS, H. R. 12774, the Municipal Taxable Bond Alternative Act
of 1976, has been introduced in"the U. S. House of Representatives; and,
WHEREAS, H. R. 12774 offers an alternative method of issuing munici
pal bonds with an optional federal subsidy for taxable bonds; and,
WHEREAS, the constitutionality of H. R. 12774 is questionable and
further this alluring gift of something "free" is another step in federal con-
trol of state. and local governments to be. implemented and enlarged by an-
other hydra-headed bureaucratic department; NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the City Council of the City of Lubbock does hereby strongly ex-
press its opposition to H. R. 12774 and further, directs that the City Secre-
tary -Treasurer send copies of this Resolution to our Congressman George
Mahon and to all other members of the Texas delegation to the U. S. Congres
Passed by. the City Council this 22nd day of July , 1976.
ATTEST:
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Treva Phillips, City ecretary-Treasurer
APPROVED AS T FORM:
red O. enter, Jr., Attorney
CITY OF LUBBOCK
LUBBOCK, TEXAS
ROY BASS
MAYOR
August 4, 1976
The Honorable Dale Milford
Congress of the United States
House of Representatives
Washington, D. C. 20515
RE: H. R. 12774
Municipal Taxable Bond Alternative Act of 1976
Dear Mr. Milford:
The Lubbock City Council is quite concerned about this Act, and
regards it as a snare and a delusion.
Please do all you can to defeat it.
' specPf
yly,
Roy Bass
Mayor.
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