Res 1183 5/4/1971RESOLUTION NO. 1183
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-1 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
Development Board, on direction of the Texas Water Quality Board, to issue
additional 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
enhancement programs;water quality en p g rams; and
WHEREAS, the proposed Amendment No. 4 provides that bonds author-
ized under this new Section 49-d-1 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
Development Board to sell its bonds in today's competitive bond market;
and
WHEREAS, the passage of the proposed Amendment No. 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
and quantity of the State's water, and lifting some of the tax load from
already overburdened city taxpayers; and
WHEREAS, the adoption of Amendment No. 4 would make it possible
for the City of Wichita Falls to qualify for an additional $900,000 in
Federal grant funds (from $1,320,000 to $2,200,000) toward the $4 million
2-
enlargement of sewer treatment plant facilities.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE
CITY OF WICHITA FALLS, TEXAS, 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 Board of Aldermen urges the
citizens to go to the polls on May 18, 1971, and vote for the passage of
Amendment No. 4.
PASSED AND APPROVED THIS the 4th day of May, 1971.
C
MAYOR
ATTEST:
City Cl rk