Show t. k t h t Ag Against Tax Tax i. i t K 1 V- V Exempt Change Changet Sen Wallace F F. F Bennett R- R Utah second ranking Republican Republican Republican lican member of the Senate Finance Committee today reported vigorous new support support support sup sup- port from throughout Utah for his efforts to defeat an at attempt attempt attempt at- at tempt to remove the tax exempt exempt exempt ex ex- empt status of mUI municipal cipal bonds TilE THE FINANCE Committee continued d hearings today on ona ona ona a wide-ranging wide tax reform bill already passed by the House which includes provisions to remove the tax exempt features features features fea fea- tures of interest paid on local government bonds In an era when local governments governments gov gov- ov- ov are being called upon upon upon up up- on to provide increasingly- increasingly costly services and make essential essential essential es es- es- es capital improvements in my opinion it would be a serious mistake to jeopardize the means by which funds are obtained for such programs Sen Bennett saidI said I 1 AM pleased that so many knowledgeable agree with my position as evidenced by the petitions and letters I have received from city and andI I county officials in our state he added Sen Bennett said he has just lust received a letter from the Utah State Advisory Council Council Council Coun Coun- cil on Local Affairs It is signed by the 18 members of the Council all of them city or county heads and expresses unanimous opposition opposition opposition to the proposal to remove remove remove re re- re- re move the tax exempt status of bonds I ITHE THE COUNCIL estimates that municipal bond issues in Utah will exceed 25 m million million million mil mil- lion during the next two years and will be a major factor in inthe inthe inthe the states state's overall financial structure A second letter of oC opposition to the proposal was just received received received re re- re- re by the Senator from Mayor J J. J Bracken Lee and Commissioners of Salt Lake City |