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Show School board opposes bill FARMINGTON -- Tuesday evening at the last meeting of the Davis County School District Board of Education, Board members mem-bers unanimously adopted a resolution re-solution opposing certain portions of U.S. House Bill 3838, the Tax Reform Act of 1985. Board members mem-bers directed Supt. Welling to send copies of the resolution, signed by Board members and District Administrative Admi-nistrative leaders, to the members of Utah's U.S. Congressional delegation de-legation and their aides. OPPOSITION centers around sections of the law that restricts the bonding procedures of state and local governments. Davis School District relies heavily on issuing General Obligation bonds in order to secure money for school building build-ing construction. H.R. 3838 imposes costly and complicated requirements on governments gov-ernments bonding in order to retain a tax-exempt status. It prohibits the use of tax-exempt financing for certain facilities and requires governments gov-ernments to pay a portion of the interest earned on proceeds of municipal financings to the federal government. LARRY DENHAM, bonding agent for the District indicated at the meeting that this section of H.R. 3838 would adversely affect all fast-growing Wasatch Front School Districts and that most of the school districts in the state would be approached to sign a resolution re-solution similar to the one signed by the Davis Board of Education, dmg |
