HomeMy WebLinkAbout17-69 RESOLUTION4.
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RESOLUTION NO. /
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.A RESOLUTION BY THE CITY BOARD OF DIRECTORS OF FAYETTEVILLE, ARKANSAS, INDI-
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CATING OPPOSITION TO THE TAXATION OF ANY INCOME DERIVED FROM TAX EXEMPT MUNI-
CIPAL'GENERAL OBLIGATION AND REVENUE BONDS ISSUED FOR MUNICIPAL PROGRAMS AND
IMPROVEMENTS.
WHEREAS, many municipal governments rely upon tax exempt municipal bonds
, to fund essential public programs and improvements; and
WHEREAS, the taxation of municipal bonds would severely jeopardize the
future use of this important funding procedure.
NOW, THEREFORE BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
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r• ' ,SECTION 1: *That this Board go on record as opposing the passage of any
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form of legislation which would take away the present tax exempt status of
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' municipal general obligation and revenue bonds issued for public programs and
improvements.
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7 PASSED, APPROVED AND ADOPTED THIS
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ATTEST:
rltriLOIAt C„,
're, City Clerk
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Mit
DAY OF MAY,
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APPS VED:
1969.
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Garland Melton, Jr., Ma
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