HomeMy WebLinkAboutOrdinances Book 10, Page 90, No Resolution NumberPage 90
A RESOLUTION OPPOSING THE LEVY BY TRE FEDERAL GOVERNMENT
11OF A TAX UPON THE INCOME OF MUNICIPAL BONDS AND APPROVING T11E EN-
IACTMENT OF REMEDIAL LESIGLATION TO EXEMPT MUNICIPAL EMPLOYEES FRO14
(LIABILITY FOR PAYMENT OF BACK TAXES ON SALARIES RECEIVED BY THEM,
FROM 1926 TO DATE, AND AUTHORIZING THE CITY MANAGER TO FORWARD TO
THE SENATORS AIM CONGRESSMENT FROM KENTUCKY CERTIFIED COPIES OF THI7
!RESOLUTION
WHEREAS, the levy of a tax by the Federal Government upon
the income from municipal bonds would so increase the cost of
limunicipal financing that it would place upon real estate taxpayers
jin the City of Paducah, as well as in all other cities in the state
of Kentucky, tax burdens which they are financially unable to
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assume; and
WHEREAS, as a result of recent decisions of the Supreme
Court, many municipal employees may be liable for Federal income
taxes an salaries earned by them from 1926 to date;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COM1JISSION-
ERS OF THE CITY OF PADUCAH:-
SECTION 1.
That the City of Paducah is opposed to the proposed plan
of the Treasury Department to levy by Act of Congress a tax upon
municipal securities, and this Board hereby requests that the
:Senators and Congressmen from Kentucky take a firm stand against an
illegislation authorizing the levy of such tax which will, if enacted
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so increase the cost of municipal financing that the City of
Paducah, as well as other cities in the State of Kentucky, will be
•required to resort to drastic measures of economy in order to
prevent an increase in local taxation.
SECTION 2.
That the City of Paducah hereby approved the enactment of
lIremedial legislation exempting all municipal employees from lia-
I bility for payment of Federal income taxes upon the salaries earned!
by them from 1926 to date, and requests of its Senators and Con-
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gressman that legislation be passed limiting any taxation of munic-
ipal officers and employees to salaries which they receive in the
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future.
SECTION 3.
That the City Manager be, and he is hereby directed to
forward certified copies of this resolution to the Senators and
Congressmen, requesting them to vigorously oppose the enactment of
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legislation which would place a greater burden upon taxpayers of
municipalities, and to support the legislation which is to be intro-
duced for the purpose of exempting municipal officers and employees
from payment of taxes on salaries received by them from 1926 to date
err.
Mayor
Recorded by Rudy Stewart,
Page 91