Urging U.S. Treasury Secretary Timothy Geithner to implement a plan that will allow cities affected by the credit crisis to access traditional market interest rates for bonds.
Impact
The resolution emphasizes the importance of municipal projects in driving local economic stimulus. Such projects often result in job creation across various industries and involve collaborations with the private sector. Specifically, projects that enhance public mass transit are noted for their ability to reduce highway congestion and air pollution, further contributing to community welfare. If implemented, the proposed access to traditional interest rates for municipal bonds could enable numerous critical projects to commence or continue, effectively benefiting local economies and taxpayers alike.
Summary
House Resolution 1138 urges U.S. Treasury Secretary Timothy Geithner to implement a plan allowing cities impacted by the credit crisis to access traditional market interest rates for municipal bonds. The resolution highlights the negative effects of deteriorating credit markets on cities' ability to fund critical projects, which not only jeopardizes local initiatives but also delays economic recovery efforts. By advocating for the accessibility of market interest rates, the resolution aims to empower cities to undertake significant public projects that are essential for community growth.
Contention
One notable point of contention surrounding this bill could involve the differing priorities at the federal and local levels regarding the implementation of programs supporting municipal financing. While this resolution supports funding mechanisms beneficial to cities, potential debates may arise about the long-term implications of federal intervention in local finance. Furthermore, discussions might emerge regarding how such measures can be balanced with fiscal responsibility and accountability, particularly in light of past federal funding practices.
Relating to a local optional teacher designation system implemented by a school district, a security officer employed by a school district, the basic allotment and guaranteed yield under the public school finance system, and certain allotments under the Foundation School Program; making an appropriation.
Relating to the creation of the Williamson County Development District No. 1; providing authority to issue bonds; providing authority to impose assessments, fees, and taxes.
Relating to the creation of the Dallas Municipal Management District; providing authority to issue bonds; providing authority to impose assessments and fees.
Relating to the creation of the Dallas Municipal Management District; providing authority to issue bonds; providing authority to impose assessments and fees.
Relating to the approval and creation of the Williamson County Development District No. 1; and to the administration, powers, duties, operation, and financing of the district, including the authority to impose an assessment, a tax, and issue bonds.
Relating to measures to address public safety threats in this state presented by transnational criminal activity, including by establishing a Texas Border Force, and to compensate persons affected by those threats; increasing criminal penalties; creating criminal offenses.
Proposing a constitutional amendment authorizing the Kickapoo Traditional Tribe of Texas to conduct gaming by executing a gaming compact with this state; providing for occupational licensing under the compact; limiting certain taxes and fees.
Proposing a constitutional amendment authorizing the Kickapoo Traditional Tribe of Texas to conduct gaming by executing a gaming compact with this state; providing for occupational licensing under the compact; limiting certain taxes and fees.