[ALDERMEN:903] Fwd: [mcm_list] City Resolutions Endorsing Constitutional Amendments - Issues #2 and #3

---------- Forwarded message ----------
From: Paul Young <pyoung@arml.org>
Date: Wed, Oct 13, 2010 at 11:43 AM
Subject: [mcm_list] City Resolutions Endorsing Constitutional Amendments - Issues #2 and #3
To: mcm_list <mcm_list@talk.netatlantic.com>

Attached is a current list of 61 cities that have adopted the resolution recommended by the League to endorse Issues #2 and #3.   I know of approximately 15 others that are scheduled to do so in the next 2 weeks.   If your city has adopted the resolution and is not on the list, please let me know so it can be added to the list that appears on the campaign website at http://jobsforarkansas.com/supporters.php

 

Thanks to all who have helped get the message out about the importance of these amendments to cities, particularly Issue #2.   If it is not passed, cities will be unable to finance important projects in 2011 with local sales taxes, and possibly longer.   We were pleased to see last week's editorial endorsement by the Arkansas Democrat-Gazette which is attached.  The actual comments about the amendment begin on page 2 after a lengthy introduction.   In conclusion, the editorial says:

 

"The constitutional amendment proposed in Ballot Issue No. 2 would repeal the now archaic cap on the interest rates of government bonds and loans, and let the Legislature change the limit to suit the all too unpredictable economic times. At the same time, it preserves the 17 percent cap on interest rates for consumer loans. If this change becomes law, it would encourage both private and public investment in Arkansas, which needs both kinds.  Last time we checked, Arkansas has the most severe restrictions on interest rates in the Union, which can be good news only to other, competing states. The natural enough result is that, in the Natural State, loans are hard to come by these days. For the legal rates are far below what the market will bring, and lenders are either hoarding capital or investing where the returns are better. It can prove expensive, being stuck in medieval times. No wonder the state's economy, while not struggling, isn't thriving, either.  When the time comes to cast their ballots this election season, voters with a sense of reality can remove this crippling barrier by voting For Issue No. 2."   Ark Democrat-Gazette, Oct 7, 2010

 

 

Paul Young

Finance Director

Arkansas Municipal League

501-978-6104 (off)

501-551-2033 (cell)

pyoung@arml.org

 

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Stay informed: http://www.valleyformayor.com
Honorable James F. Valley
MAYOR - Helena West Helena
P O Box 248
226 Perry Street
Helena-West Helena, 72342
501-291-1735 Main Number
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