HomeMy WebLinkAboutRESOLUTION 01-89Q 0
RESOLUTION 1-89
WHEREAS,the Town of Estes Park,along with federal,state,
and other local governments shares in the responsibility of
building and maintaining the nation’s physical and institutional
infrastructure,and in providing essential services needed to
promote the general welfare;and
WHEREAS,the federal government,over the last two decades,
has steadily reduced its assistance in meeting infrastructure
requirements,and has shifted more and more financial respon
sibility to states and units of local government;and
WHEREAS,financing state and local government public proj
ects through the issuance of tax—exempt bonds is critical to
allow states and local governments to exercise the responsibil
ities entrusted to and expected of them;and
WHEREAS,in recent years,the U.S.Congress has restricted
the use of tax—exempt bonds by states and local governments,and
made tax—exempt bonds less attractive to significant groups of
purchasers,thereby driving up the cost of financing public
service projects;and
WHEREAS,in 1988 the U.S.Supreme Court overturned a
100-year-old precedent,ruling for the first time that the
Constitution does not prohibit the federal government from taxing
the interest on state and local government bonds;and
WHEREAS,the Supreme Court decision places in jeopardy the
use of tax-exempt bonds by the more than 85,000 units of local
government,including the Town of Estes Park,as Congress seeks
new sources of revenue to reduce the federal deficit;and
WHEREAS,further restrictions on the use of tax-exempt bonds
for legitimate public purpose will seriously impair the ability
of local governments to finance essential services,including
electricity,water,sewer,transit,and other basic functions,to
the detriment of all citizens.
NOW,THEREFORE,BE IT RESOLVED by the Board of Trustees of
the Town of Estes Park that the Town of Estes Park hereby calls
upon Congress and the executive branch to recognize that the
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local burden of maintaining and expanding the national
infrastructure and providing citizens with needed basic services
cannot be met without tax—exempt bonds,and to resist all further
efforts to reduce the use of such bonds to finance public govern
mental projects.
BE IT FURTHER RESOLVED,that the Board of Trustees hereby
authorizes the Mayor to undertake to contact the Town of Estes
Park’s congressional representatives,the American Public Power
Association,newspapers,community,and public opinion leaders as
necessary in order to educate them further as to the reasons for
the Town of Estes Park’s concern and to undertake such other
actions in support of this call and resolution as he deems
appropriate.
DATED this /2 day of
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TOWN OF ESTES PARK
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ATTEST:
1J-A41
Town Clerk
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