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MEMO TO: Mayor & City Council <br />CFROM: Clerk-Administrato <br />DATE: April 30, 1984 <br />SUBJECT: LMC Action Alert on U.S. House <br />Omibus Tax Bill <br />Attached are copies of a letter from LMC Executive Director Don Slater <br />and an Action Alert on proposed federal legislation which would <br />establish state -by -state per capita volume limits on industrial <br />revenue bonds. <br />In view of the recent resolution you adopted regarding state efforts <br />to improve the business tax structure in Minnesota and the potential <br />impacts that volume limits on industrial revenue bonds could have <br />on the ability of cities to attract industry by passing on our <br />tax exempt status, I felt it would be appropriate to bring this <br />issue before you for some direction. Please advise me if you wish <br />to take a position on this matter which could take the form of a letter <br />to our federal legislators and/or a resolution. <br />DFP/mb <br />n <br />