Agenda - Council - 11/22/1983 - Laserfiche WebLink

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I I I I I I I I i I i I I I I i I I O F F I C E O F T H E M A Y 0 R City of Ramsey 15153 NOW"THEN BOULEVARD N.W., RAMSEY, MINNESOTA 55303 · (612) 427-1410 November 8, 1983 ,The Honorable Gerry Sikorski The House of Representatives 414 Cannon House Office Building Washington, D. C. 20515 RE: Industrial Development Bonds regarding H.R. 4170 Dear Representative Sikorski: The City of Ramsey has received an "Action Alert" memo dated November Z, 1983 from the League of Minnesota Cities which states that the House Ways and Means Committee on October Z4, 1983 reported out a tax bill, H.R. 4170, which will greatly restrict the use of industrial development bonds. The City of Ramsey is opposed to any changes in the present law that would affect the use of industrial revenue bonds. The major industrial growth here in our community has been through the use of industrial revenue bonds. If that tool had not been available, we would not have had any of our present commercial/industrial companies expanding their facilities. The present law that governs the use of industrial revenue bonds is a real lifesaver to the business people and the communities they serve. The present law gives that business person the break he needs to finance the expansion of his business. When the business person expands his business through the industrial development bond, the community benfits from the new tax base and the new jobs that come about through the expansion. Please do not change the laws governing the use of industrial development bonds, as this is one of the few laws that seem to help business, local government and labor. This does not happen too often in our government. Thank you for your cooperation on the above issue. We certainly want to be kept informed on this. I am enclosing for your information a copy of the Action Alert memo which informed us of this tax bill. Sincerely, CITY OF RAMSEY Thomas G. Gamec Mayor TGG:p?