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WHEREAS, it has been proposed in the Congress of the United States <br /> <br />that municipal housing authority bonds be subjected to taxation by the <br /> <br />federal government; and <br /> <br /> WHEREAS, if adopted, this proposal would be the beginning of a move- <br /> <br />ment to subject all municipal and state securities to federal taxation, <br /> <br />thereby greatly hampering the undertaking and accomplishment of local pro- <br /> <br />jects and purposes, contra to constitutional principles and the announced <br /> <br />desire of the federal government to promote greater local responsibility <br /> <br />and participation in public works. <br /> <br /> NOW, THEREFORE, Be it resolved by the Council of the City of Ports- <br /> <br />mouth, Virginia, that taxation by the federal government of any type of <br /> <br />municipal or state security would constitute an unwarranted and unconstitu- <br /> <br />tional impediment to accomplishment of the purposes of local government; <br /> <br />that any proposal in the Congress to subject municipal or state securities <br /> <br />to federal taxation should be opposed vigorously; and that a certified copy <br /> <br />of these resolutions be sent by the City Clerk to the Congressman and Senator <br /> <br />representing the people of this City in the Congress. <br /> <br /> Adopted at a meeting of City Council held on March 10, 1959. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />