Subject: 19402/Support Petition/Funding Capital Projects-Payoff Debts
Date: Tue, 31 Mar 1992 11:16:00 -0500


                               RESOLUTION NO. 19402
                   
                   
                   A RESOLUTION EXPRESSING THE SUPPORT OF THE 
                   CITY OF CHATTANOOGA FOR THE ADVISORY 
                   PETITION REQUESTING THAT THE UNITED STATES 
                   CONGRESS INSTRUCT THE UNITED STATES TREASURY 
                   TO CREATE AND ISSUE INTEREST-FREE LOANS TO 
                   TAX-SUPPORTED BODIES FOR THE PURPOSE OF 
                   FUNDING CAPITAL PROJECTS AND FOR PAYING OFF 
                   EXISTING DEBTS.
                   
                                                     
                   
                   
       	    	 WHEREAS, the City Council of the City of Chattanooga 
       must from time to time issue bonds to finance capital projects 
       that are necessary to ensure the health and welfare of the 
       citizens of the City of Chattanooga; and
       	    	 WHEREAS, the City Council of the City of Chattanooga 
       recognizes the fact that the cost of interest for bonds issued to 
       fund capital projects is a great burden on the taxpayers of the 
       City of Chattanooga;
       	    	 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF 
       THE CITY OF CHATTANOOGA, TENNESSEE, That it does hereby express 
       its support for the advisory petition which requests that the 
       United States Congress instruct the United States Treasury to 
       create and issue interest-free loans to tax-supported bodies for 
       the purpose of funding capital projects and for paying off 
       existing debts.
       
       ADOPTED:  March 31, 1992	
       
       RLN:cjc