HomeMy WebLinkAboutOrdinances Book 12, Page 274, No Resolution Number274
A RESOLUTION RELATING TO THE PROPOSAL WHICH HAS BEEN PRESENTED
TO THE CONGRESS FOR TAXATION OF STATE AND MUNICIPAL BONDS
WHEREAS, it appears that there has again been presented to the
Congress a proposal that future issues of state and municipal bonds
be subject to Federal Income Taxation; and
WHEREAS, the imposition of the Federal tax on municipal bonds
will greatly increase the interest rates which cities would be required
to pay on future borrowings, and consequently the burden of such tax
measure will fall upon the owners of real estate and personal property;
NOW THEREFORE, BE IT RESOLVED that the City of Paducah
protest against the proposal for the taxation of municipal bonds by
the United States Government, and that the Mayor be authorized to
transmit to the Honorable Alben W. Barkley, Vice President of the
United State, the Honorable John S. Steelman, Executive Assistant
to the President, the Honorable Noble Gregory, Congressman from this
district, and the Honorable Virgil Chapman and Honorable Earle C.
Clements, United States Senators, and the members of the House Ways
and Means Committee, a letter urging them to oppose the measure, and
that he also transmit to each a copy of this Resolution.
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Passed by the Board of Commissioners, Februar- 2 , 1951
Recorded by Sarah Thurman, City Clerk, February 20, 1951.