HomeMy WebLinkAboutResolution No. 98-22 ORIGINAL
CITY OF THE COLO ~N~ ? TEXAS
RESOLUTION NO. ~-oqoq~
WHEREAS, municipalities across the county face strict budgets, deadlines, and
diminishing funds for expanding public needs; and
WHEREAS, many cities have accumulated millions of dollars worth of
delinquent tax liens and until recently had limited options to liquidate those liens; and
WHEREAS, other states are now allowing municipalities to sell their tax liens to
private trusts for cash and a promissory note; and
WHEREAS, the State of Texas does not have such a provision;
NOW, THEREFORE, BE IT RESOLVED:
Section 1. That the 76th Texas Legislature is urged to adopt legislation that
allows the sale of delinquent tax debt by municipalities.
Section 2. That this resolution shall be effective from and after its passage.
PASSED AND APPROVED eftS,//~C~day of/d~O'y'~-p/,4/~_~5 1998.
Mary ]~air ~0tts, Mayor
Patti A. Hicks, TRMC, City Secretary