HomeMy WebLinkAboutResolutions - No. 89-30RESOLUTION NO. 89-30
A RESOLUTION OF THE LODI CITY COUNCIL
CALLING UPON CONGRESS TO RESIST ALL EFFORTS TO FURTHER LIMIT THE USE
OF TAX-EXEMPT BONDS TO FINANCE LOCAL GOVERNMENTAL PROJECTS
WHEREAS, federal, state and local government all share the
responsibility of providing governmental infrastructure and of
providing essential services needed to promote the general welfare; and
WHEREAS, the federal government has steadily reduced its
responsibility for infrastructure requirements by reduced funding and
by shifting the tax burden from the national level to the state and
local level; and
WHEREAS, the issuance of tax-exempt bonds by local government is
critical to allow local government and municipal utilities to fund a
significant part of its infrastructure requirements; and
WHEREAS, the City of Lodi, California last year issued tax-exempt
bonds in the amount of $9,415,000 for the purpose of financing a major
expansion of the City's wastewater treatment plant; and
WHEREAS, further restrictions on the use of tax-exempt bonds will
seriously impair the ability of the City of Lodi, California to finance
its essential services facilities, including roads, water, sewer,
electricity, transportation and other basic functions to the detriment
of all of its citizens;
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City
of Lodi, California calls upon Congress to resist all efforts to
further limit the use of tax-exempt bonds to finance local governmental
projects.
Dated: March 22, 1989
I hereby certify that Resolution No. 89-30 was passed and adopted by
the City Council of the City of Lodi in a regular meeting held March
22, 1989 by the following vote:
Ayes: Council Members - Hinchman, Olson, Reid, Snider and
Pinkerton (Mayor)
Noes: Council Members - None
Absent: Council Members - None
41.
Alice M. Reimche
City Clerk