Resolution 02720RESOLUTION NO. 2720
"EXTRESSING CITY OF ALAMEDA'S OPPOSTHEON
TO FEDFRAL TAXATION OF MUUICIPAT PONDS,
WHEREAS, this Coancli. is advised that the Treewury Department of the
United States proposes to continhn its efforts to impose a Federal. tax upon the
income from state and municipal Ponds; an
WHEREAS, a tax: on municipal. bonds woald substantially increse now
cost of municipal. fixanoing and would plade an unnecessary and onerous burden
and impedfmnht on. all. fuTure municipal borrowing; and
adTHIMPAS, thls City's main source oT municipal revenhe is derived from.
taxes on. real estate and sonn increase in the cost of municipal. finwuring would,
have to be absorbed. by additional burdens on: real estate taxes:
MOVI, TERREFRED, DE. IT RESOLVED BT. THE ',OUNCE; OF TEE CITY OF ALAITIDA
in. regular Fnetihg assembled. that this Council hereby expresses its opposition
to the imposition, eithnr by statute or by administrative ruling or by judicial
dncree, of a Federal tax on municipal. bonds;
RESOLVED, FURTHER, that the City Clerk of the City of Alameda is
hereby directed te foncard a certified copy. of this resolution. to Tan Secretary.
of the Treasury, the Senators from the State of California, the Representative
in Congress of this District, to each of the members of the United States Senate
Finance dommittne and to eahh of the murbers of.' the Ways and gnaws Committee of
the United States House of Representatives.
I, the undersigned, hereby certify that the fcregoing Resolution. was
duly and regularly 1. 1. and aoupted ay the Counhil of tow City of Alwmeda
in adjourned regular meeting assembled on thn 10th. day of February, 1942, by the
foldwwing vote, to wit:
(4).
ATEST Councilman. Branacheid, Howe, Jones and Vice President Maurer,
NOES: Bann.
ARETHET: Presidnnt Godfrey, (I).
IN WITNESS WHEREOF, I have hereunto set my hand and affinwe the offi-
cial. seal of said City. this llth day. oc Febrary 1942.
ORENE R. BEAlIr
(SEAL) ' Clerk of the City of Albrugar:-
I hereby certify that the foregoing is a fall, true and correct copy of
"Resolution NW. 2F20, EXPkEESTED CITY OF ALAMEDA'S OPPOSITION TO FEDERAL TAXATION
OF IffOICIPAL DCVOS," introduced. and. adopted by the Council.. on. the 10th awy of
February, 1942.
'Ay Clerk of;tn1.74XTIty al Ala:Jena.