Res 1989-087 - Laserfiche WebLink

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SAMPLE LETTD. TO MEMBERS OF CONGRESS Honorable or Honorable U.S. House of Representatives U.S. Senate Washington, D.C. 20515 Washington, D.C. 20510 Dear Senator/Representative: Knowing of your continued interest in stimulating our local economy and generating new jobs and tax revenues, I am writing to arrange a meeting wi th you to discuss (agency's name) successful efforts in this area. As an issuer of Small Issue Bonds, we have been active partners with the federal government in promoting economic development. I would like an opportunity to discuss with you the importance of a continuing federal role in this partnership. As you know, much has changed since 1982 when Congress first initiated a series of changes limiting the use of Small Issue Bonds. This financing program is now restricted to smaller and medium size manufacturing firms, a substantial percentage of which are subject to foreign competition in domestic markets. This manufacturing-only eligibility is consistent with your efforts to address growing concerns about the nation's trade imbalance and to help our domestic manufacturers to compete more effectively. Another significant change is in the imposition in 1984 of state-by-state volume limitations. First imposed on Small Issue Bon~s in 1984, these volume limitations have curbed Small Issue Bond use from $17.3 billion in 1984 to approximately $3 billion this year. These volume limitations are now forcing ,our state and all others to allocate bond issuing authority to projects that warrant this assistance and achieve clear public purposes. I would like to meet with you to discuss specifically the public benefits we are achieving with Small Issue Bonds and to review with you how this financing tool, which expires December 31, 1989, can continue to help our community create jobs and stimulate needed capital investment by our manufacturing firms. I will contact your office to arrange a meeting and look forward to talking with you soon. Sincerely,