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HomeMy WebLinkAbout8123 - Tax & Expenditure Limitations InitiativeC7 RESOLUTION NO. 8123 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH IN SUPPORT OF PROPOSITION 1 (TAX AND EXPENDITURE LIMITATIONS INITIATIVE) WHEREAS, the State Legislature over the past few years has attempted without success to enact legislation to reform and place certain controls and limitations on the power of govern- ments to tax; and WHEREAS, last spring, hundreds of thousands of voters signed petitions to place this matter before the people as an initiative measure (Proposition 1); and WHEREAS, the City Council believes that Proposition 1, which would: (a) restrict the use of surplus revenue to tax reductions, refunds, or emergencies; (b) reduce personal income tax, (c) limit local property tax rates, and (d) require State funding of new programs mandated to local government, is sound in concept and provides an innovative means of easing the ever - increasing burden borne by the taxpayers; and WHEREAS, the City Council wishes to go on record as being in support of Proposition 1 as a responsible method of curbing this State's present automatic, spiralling tax growth, while moderately increasing the level of spending for needed State services; NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Newport Beach wishes to express its support of Proposition 1 (Tax and Expenditure Limitations Initiative) as an effective tool which will provide for normal State tax growth as well as effective controls of funding of State programs needs, including environmental, educational and public safety programs. ATTEST: ty ADOPTED this 29th day of October, 1973. FIED AS TH INAL mh sue ..........................' ......... 10/30/73 OF THE CITY OF NEWYORT BEACH NOV 2 9973 DAT& -