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WHEREAS, cities today must typically bear the full capital cost of developing these <br /> expensive new facilities; and <br /> WHEREAS, eliminating the tax exemption on municipal bonds would increase <br /> borrowing cost and make it more difficult and, in some cases, impossible for cities to <br /> provide vital repairs and improvements to essential infrastructure; <br /> NOW, THEREFORE, BE IT RESOLVED, that Elk River Municipal Utilities ,opposes <br /> any effort to eliminate or limit the federal tax exemption on interest earned from <br /> municipal bonds. <br /> This Resolution Passed and Adopted this day of , 2012. <br /> John J. Dietz, Chair <br /> Troy Adams, P.E., General Manager <br />