HomeMy WebLinkAboutResolution No. 3793 RESOLUTION NO.3793
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DOWNEY
OPPOSING PROPOSITION 11 - SURTAX ON BUSINESS INCOME OF
ENERGY - RELATED COMPANIES IN CALIFORNIA
WHEREAS, Proposition 11 on the June California ballot would impose
a drastic surtax which would more than double the State Income Tax on cer-
tain companies engaged in the obtaining, processing, distributing, or
marketing of oil, gas, coal or uranium; and
WHEREAS, this surtax would be applied in a discriminatory manner
and would cause undue hardship on many firms doing business in California;
and
WHEREAS, this tax would divert millions of dollars from the private
sector of this State into a vast governmental spending program, limited to
improving rail and bus services and developing alternate transportation
fuels, but for which neither planning or prudent guidelines are established;
and
WHEREAS, this proposition is based on the false claim that the
surtax would apply only to the "excess profits" of energy- related companies
but would, in fact, be imposed on normal income that is not excessive; and
WHEREAS, this surtax would be imposed on revenues from sales and
operations totally unrelated to the energy business; and
WHEREAS, our State and nation are dangerously dependent upon certain
foreign sources for oil, the need for increased production is vital and this
surtax would consume funds that otherwise would be used to increase oil pro-
duction and the development of alternative energy sources to meet the public
needs; and
WHEREAS, enactment of this proposition would damage the business
-- climate of this State and be detrimental to the California economy and the
welfare of California citizens.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DOWNEY DOES HEREBY
RESOLVE AS FOLLOWS:
SECTION 1. That this City Council declares its vigorous opposition
to Proposition 11.
SECTION 2. That this City Council urges the voters of the City of
Downey to give their assistance and support to the campaign being waged by
Californians for Fair Taxation to defeat Proposition 11.
SECTION 3. That the City Clerk shall certify to the adoption of
this Resolution and provide for appropriate distribution thereof.
APPROVED AND ADOPTED THIS 13th day of May, 1980. /3
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ATTEST: -'
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c 2 1 -../ ` Theodore H. Jackman, Mayor
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City Clerk
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by
the City Council of the City of Downey at a regular meeting thereof held
-- on the 13th day of May , 1980, by the following vote, to wit:
AYES: 5 Council Members: Swearingen, Mackaig, Quinn, Cormack, Jackman
NOES: 0 Council Members: None
ABSENT: 0 Council Members: None
ABSTAIN: 0 Council Members: None
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City Clerk