HomeMy WebLinkAbout1988-02 Requesting the CO Congressional Deligation Cosponser Bill H.R. 3561 which would Benifit Small Issures of Municipal BondsRESOLUTION N0. 2
Series of 1988
A RESOLUTION REQUESTING THAT MEMBERS OF THE COLORADO fN`~
CONGRESSIONAL DELEGATION COSPONSOR BILL H.R. 3561 WHICH
MOULD BENEFIT SMALL ISSUERS OF MUNICIPAL BONDS.
WHEREAS, Congressman William F. Klinger (R-Pa.) recently introdu~C.~
legislation, N.R. 3561, designed to help local governments utilize the tax exempt
municipal bond market; and
WHEREAS, this small issuers relief act promises to offer significant
assistance to local governments throughout the country; and
WHEREAS, the Bili raises the small issuer exemption from five million dollars
5,000,000) to twenty-five mil]ion dollars ($25,000,000) for purposes of the
arbitrage rebate requirement and increases the private use limit on governmental
bonds from ten percent {IO%) to twenty-five percent (2596) for states and localities
that issue no more than the twenty-five million dollars ($25,000,000) in tax exempt
bonds.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL,
COLORADO, as follows:
The Town Council hereby expresses its support far H.R. 3561 and requests that
members of the Colorado Congressional Delegation join Congressman William F.
Klinger in supporting this legislation.
INTRODUCED, READ, APPROVED AND ADOPTED this day of
1988.
Kent R. Rose, Mayor
ATTEST:
Pamela R. Brandmeyer, Town Clerk