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I <br /> I <br /> I <br /> i <br /> i <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br />I <br />I <br />i <br />i <br />i <br />I <br /> <br />City of Ramsey <br /> <br />15163 NOWTHEN BOULEVARD N.W., RAMSEY, MINNESOTA 55303 · (&12) 427.1410 <br /> <br />November 8, 1983 <br /> <br />The Honorable Bill Frenze! <br />10Z6 Longworth Office Building <br />Washington, D. C. Z0515 <br /> <br />RE: Industrial Development Bond regarding H.R. 4170 <br /> <br />Deay Representative Frenzel: <br /> <br />I have been made aware by the League of Minnesota Cities' Action Alert memo <br />dated November Z, 1983, that the House Ways and Means Committee on October <br />Z4, 1983 reported out a tax bill, H.R. 4170, which would greatly affect the <br />use of industrial development bonds. According to the League's Action Alert <br />memo, you are one of the sponsoring House members of H.R. 4170. <br /> <br />It is difficult for me to reason why you or any House member would want to <br />change the law governing the use of industrial development bonds when it <br />has done so much to promote the expansion of existing businesses and the <br />development of new businesses. Here in our City, if it had not been for the <br />use of this method of financing, we would not have had any <br />commercial/industrial expansion. Further, the expansion of the existing <br />businesses and the creation of the new businesses in our community through <br />the use of the IDB has provided our City with more jobs for its citizens and <br />also a stronger tax base for the community. <br /> <br />Consequently, I would appreciate your reply as to why you want to restrict <br />the use of industrial development bonds. It appears that you in Washington, <br />D. C. must have a better plan for industrial development financing than I am <br />aware of here. <br /> <br /> Sincerely, <br /> CITY O~ <br /> <br />/// <br /> <br /> <br />