H.R. No. 1138
R E S O L U T I O N
WHEREAS, Deteriorating conditions in the credit markets have
severely diminished the ability of cities to access traditional
sources of funding for projects that meet critical local needs;
consequently, many municipal projects today are in jeopardy or are
being delayed, with prospects for their future realization highly
uncertain; and
WHEREAS, Municipal projects provide important, effective
economic stimulus and are worthy of partnership with the federal
government; civic projects instantly create and cause the retention
of multiple thousands of jobs in many different industries; city
projects often include partnerships with the private sector that
create a leveraging of mutual interests and maximum economic
benefit for the greater community; many city projects are transit
oriented, which spurs additional economic benefit; moreover, when
projects involve the enhancement or development of public mass
transit, they result in reduced highway congestion, reduced air
pollution, and reduced dependence on foreign oil; and
WHEREAS, Projects supported by municipal bonds are vetted
locally, approved in elections by local voters, and administered
locally, conditions that promote the highest level of transparency
and accountability; and
WHEREAS, Recently passed amendments to the Troubled Assets
Relief Program (TARP) legislation that are contained in H.R. 384,
Section 402, clarify the authority of the U.S. Treasury regarding
municipal securities; exercising the authority to directly
purchase such bonds, and/or provide credit enhancements for them,
would provide an opportunity to realize immediate, significant
contributions to our economic recovery; and
WHEREAS, Directly purchasing municipal securities at
appropriate interest rates, or providing credit enhancements that
allow cities access to traditional market interest rates for bonds,
would give the federal government the opportunity to be repaid,
with interest, the entire sum it furnishes through the partnership;
in addition, providing this relief in the municipal credit markets
would result in a significant tax reduction for local taxpayers in
the form of dramatically reduced publicly funded interest costs;
and
WHEREAS, Working together to construct an efficient
application of the authorization provided in H.R. 384, Section 402,
would greatly enhance our country's progress toward economic
recovery; now, therefore, be it
RESOLVED, That the House of Representatives of the 81st Texas
Legislature hereby respectfully urge U.S. Secretary of the Treasury
Timothy Geithner to implement a plan that will allow cities
affected by the credit crisis to access traditional market interest
rates for bonds; and, be it further
RESOLVED, That the chief clerk forward an official copy of
this resolution to the U.S. secretary of the treasury.
Mallory Caraway
Straus Gattis Menendez Straus Gattis Menendez
Straus Gattis Menendez
Allen Geren Merritt Allen Geren Merritt
Allen Geren Merritt
Alonzo Giddings Miklos Alonzo Giddings Miklos
Alonzo Giddings Miklos
Alvarado Gonzales Miller of Comal Alvarado Gonzales Miller of Comal
Alvarado Gonzales Miller of Comal
Anchia Gonzalez Toureilles Miller of Erath Anchia Gonzalez Toureilles Miller of Erath
Anchia Gonzalez Toureilles Miller of Erath
Anderson Guillen Moody Anderson Guillen Moody
Anderson Guillen Moody
Aycock Gutierrez Morrison Aycock Gutierrez Morrison
Aycock Gutierrez Morrison
Berman Hamilton Naishtat Berman Hamilton Naishtat
Berman Hamilton Naishtat
Bohac Hancock Oliveira Bohac Hancock Oliveira
Bohac Hancock Oliveira
Bolton Hardcastle Olivo Bolton Hardcastle Olivo
Bolton Hardcastle Olivo
Bonnen Harless Orr Bonnen Harless Orr
Bonnen Harless Orr
Branch Harper-Brown Ortiz, Jr. Branch Harper-Brown Ortiz, Jr.
Branch Harper-Brown Ortiz, Jr.
Brown of Kaufman Hartnett Otto Brown of Kaufman Hartnett Otto
Brown of Kaufman Hartnett Otto
Brown of Brazos Heflin Parker Brown of Brazos Heflin Parker
Brown of Brazos Heflin Parker
Burnam Hernandez Patrick Burnam Hernandez Patrick
Burnam Hernandez Patrick
Button Herrero Paxton Button Herrero Paxton
Button Herrero Paxton
Callegari Hilderbran Pea Callegari Hilderbran Pea
Callegari Hilderbran Pea
Castro Hochberg Phillips Castro Hochberg Phillips
Castro Hochberg Phillips
Chavez Hodge Pickett Chavez Hodge Pickett
Chavez Hodge Pickett
Chisum Homer Pierson Chisum Homer Pierson
Chisum Homer Pierson
Christian Hopson Pitts Christian Hopson Pitts
Christian Hopson Pitts
Cohen Howard of Fort Bend Quintanilla Cohen Howard of Fort Bend Quintanilla
Cohen Howard of Fort Bend Quintanilla
Coleman Howard of Travis Raymond Coleman Howard of Travis Raymond
Coleman Howard of Travis Raymond
Cook Hughes Riddle Cook Hughes Riddle
Cook Hughes Riddle
Corte Hunter Rios Ybarra Corte Hunter Rios Ybarra
Corte Hunter Rios Ybarra
Crabb Isett Ritter Crabb Isett Ritter
Crabb Isett Ritter
Craddick Jackson Rodriguez Craddick Jackson Rodriguez
Craddick Jackson Rodriguez
Creighton Jones Rose Creighton Jones Rose
Creighton Jones Rose
Crownover Keffer Sheffield Crownover Keffer Sheffield
Crownover Keffer Sheffield
Darby Kent Shelton Darby Kent Shelton
Darby Kent Shelton
Davis of Harris King of Parker Smith of Tarrant Davis of Harris King of Parker Smith of Tarrant
Davis of Harris King of Parker Smith of Tarrant
Davis of Dallas King of Taylor Smith of Harris Davis of Dallas King of Taylor Smith of Harris
Davis of Dallas King of Taylor Smith of Harris
Deshotel King of Zavala Smithee Deshotel King of Zavala Smithee
Deshotel King of Zavala Smithee
Driver Kleinschmidt Solomons Driver Kleinschmidt Solomons
Driver Kleinschmidt Solomons
Dukes Kolkhorst Strama Dukes Kolkhorst Strama
Dukes Kolkhorst Strama
Dunnam Kuempel Swinford Dunnam Kuempel Swinford
Dunnam Kuempel Swinford
Dutton Laubenberg Taylor Dutton Laubenberg Taylor
Dutton Laubenberg Taylor
Edwards Legler Thibaut Edwards Legler Thibaut
Edwards Legler Thibaut
Eiland Leibowitz Thompson Eiland Leibowitz Thompson
Eiland Leibowitz Thompson
Eissler Lewis Truitt Eissler Lewis Truitt
Eissler Lewis Truitt
Elkins Lucio III Turner of Tarrant Elkins Lucio III Turner of Tarrant
Elkins Lucio III Turner of Tarrant
England Madden Turner of Harris England Madden Turner of Harris
England Madden Turner of Harris
Farabee Maldonado Vaught Farabee Maldonado Vaught
Farabee Maldonado Vaught
Farias Mallory Caraway Veasey Farias Mallory Caraway Veasey
Farias Mallory Caraway Veasey
Farrar Marquez Villarreal Farrar Marquez Villarreal
Farrar Marquez Villarreal
Fletcher Martinez Vo Fletcher Martinez Vo
Fletcher Martinez Vo
Flores Martinez Fischer Walle Flores Martinez Fischer Walle
Flores Martinez Fischer Walle
Flynn McCall Weber Flynn McCall Weber
Flynn McCall Weber
Frost McClendon Woolley Frost McClendon Woolley
Frost McClendon Woolley
Gallego McReynolds Zerwas Gallego McReynolds Zerwas
Gallego McReynolds Zerwas
______________________________
Speaker of the House
I certify that H.R. No. 1138 was adopted by the House on April
9, 2009, by a non-record vote.
______________________________
Chief Clerk of the House
Straus Gattis Menendez
Allen Geren Merritt
Alonzo Giddings Miklos
Alvarado Gonzales Miller of Comal
Anchia Gonzalez Toureilles Miller of Erath
Anderson Guillen Moody
Aycock Gutierrez Morrison
Berman Hamilton Naishtat
Bohac Hancock Oliveira
Bolton Hardcastle Olivo
Bonnen Harless Orr
Branch Harper-Brown Ortiz, Jr.
Brown of Kaufman Hartnett Otto
Brown of Brazos Heflin Parker
Burnam Hernandez Patrick
Button Herrero Paxton
Callegari Hilderbran Pea
Castro Hochberg Phillips
Chavez Hodge Pickett
Chisum Homer Pierson
Christian Hopson Pitts
Cohen Howard of Fort Bend Quintanilla
Coleman Howard of Travis Raymond
Cook Hughes Riddle
Corte Hunter Rios Ybarra
Crabb Isett Ritter
Craddick Jackson Rodriguez
Creighton Jones Rose
Crownover Keffer Sheffield
Darby Kent Shelton
Davis of Harris King of Parker Smith of Tarrant
Davis of Dallas King of Taylor Smith of Harris
Deshotel King of Zavala Smithee
Driver Kleinschmidt Solomons
Dukes Kolkhorst Strama
Dunnam Kuempel Swinford
Dutton Laubenberg Taylor
Edwards Legler Thibaut
Eiland Leibowitz Thompson
Eissler Lewis Truitt
Elkins Lucio III Turner of Tarrant
England Madden Turner of Harris
Farabee Maldonado Vaught
Farias Mallory Caraway Veasey
Farrar Marquez Villarreal
Fletcher Martinez Vo
Flores Martinez Fischer Walle
Flynn McCall Weber
Frost McClendon Woolley
Gallego McReynolds Zerwas