Resolution 71-101
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A RESOLUTION 11" 18 I
SUPPORTING AMENDMENT NO. 4
WHEREAS, the 62nd Texas Legislature, at its Regular Session, 1971,
has passed Senate Joint Resolution No. 17, a proposed amendment to add a
new Section 49-d-l to Article III of the Texas Constitution; and
WHEREAS, said proposed amendment will appear on the ballot at a
Special Election to be held on May 18, 1971, as Amendment No.4; and
WHEREAS, proposed Amendment No.4 will permit the Texas Water De-
velopment Board, on direction of the Texas Water Quality Board, to issue ad-
ditional water development bonds up to $100 million for use in providing
grants, loans, or combinations thereof, to cities, towns, and political
subdivisions, so that these entities may qualify for Federal matching funds
for water quality enhancement programs; and
WHEREAS, the proposed Amendment No.4 provides that bonds author-
ized under this new Section 49-d-l and all bonds authorized by Sections 49-c
and 49-d of Article III, Texas Constitution, may bear interest at not more
than 6%, instead of the existing rate of 4%; and
WHEREAS, the adoption by the people of proposed Amendment No.4 would
make it possible for the State of Texas to realize a greater return on tax
dollars now going to Washington, since the Federal matching share of costs
would increase from a maximum of 33% to 55%, as the State enters the program
with grants and loans; and
WHEREAS, the increase in the maximum interest rate from 4% to 6%,
as provided in Amendment No.4, will make it possible for the Water Develop-
ment Board to sell its bonds in today's competitive bond market; and
WHEREAS, the passage of the proposed Amendment Noo 4 would make
more funds available to assist local government in providing facilities to
adequately treat and dispose of their wastes, thereby enhancing the quality
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and quantity of the State's water, and lifting some of the tax load from al-
ready overburdened city taxpayers; now therefore
BE IT RESOLVED by the Ci ty Council
(City Council) (Board of Aldermen) (Board of
of the City
of Commissioners) (City Commission) (City) (Town) (Village) of
Wylie
that it endorses Amendment No. 4 on
the ballot at the Special Election to be held on May 18, 1971.
BE IT FURTHER RESOLVED that the City Council
(City Council) (Board of Aldermen)
urges the citizens to go to the
(Board of Commissioners) (City Commission)
polls on May 18, 1971, and vote for the passage of Amendment No.4.
PASSED AND APPROVED, this
27th day of April
, 1971.
C..{~Ac'-c ~J/v/'
(Mayor)
ATTEST:
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