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k._~ <br /> RESOLUTION <br /> A RFSOLUTIOIQ approving and urging. the enactment of H. R. 693, <br /> presented to Congress and referred to the Committee. on Interstate and Foreign <br /> Commerce <br /> WIiER2.AS, there has been presented to the Lower House of the Congress <br /> _ of the United States H. R. 693, proposing an amendment to the Securities Exchange <br /> Act of 1934, which amendment would definitely remove any jurisdiction or <br /> authority that the Securities and Exchange Commission might now have over or <br /> relating to municipal finahce, and, <br /> S9F~REAS, it is deemed for the best interests of states, municipalities <br /> and other public bodies not to have sales or obligations subject to the jurisdic- <br /> ` tion and regulation by the Securities and Exchange Commission, and, <br /> z5 <br /> Wf1EREAS, public financing by states and their political subdivisions <br /> is a matter of state policy as established by the Constitution, and, <br /> W1~LEA5, past records clearly determine that states and political <br /> subdivisions thereof can best manage their fiscal. affairs without Federal regu- <br /> lation and restriction, now, therefore, <br /> BE IT RESOLVED SY THE COUNCIL OF THE CITY OF LAKES"IOOD, STATE OF OHIO: <br /> Section 1. That this Council hereby approves and urges the enactment <br /> of H. R. 693, without delay. <br /> Section 2. That copies of this Resolution be forvrarded to the <br /> Honorable Clarence F, L'ea, Chairman, Coz~nittee on Interstate and Foreign Commerce, <br /> to the members of Congress from the Greater Cleveland area and to Senators from <br /> the State of Ohio, with request that they give favorable consideration to the <br /> enactment of this bill. <br /> Section 3. That this resolution .shall be effective immediately upon <br /> its adoption by the Council. <br /> ,j;i <br /> Feb. 5, 1945 <br /> Adopted: <br /> <br /> k y i"fm. lt. Fairgrieve <br /> <br /> wi <br /> resident <br /> H. A. Rees <br /> Clerk <br /> Feb. 6, 1945. <br /> Approved: <br /> A. I. Kauffman <br /> yor <br /> <br />