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<br /> <br /> <br /> PARIS ECONOMIC DEVELOPMENT CORPORATION <br /> <br /> RESOLUTION NO. 2004-002 <br /> <br />A RESOLUTION OF THE BOARD OF DIRECTORS OF THE PARIS <br />ECONOMIC DEVELOPMENT CORPORATION, EXPRESSING SUPPORT <br />FOR H.R. 2208, THE HIGHWAY FUNDING EQUITY ACT OF 2003, <br />PENDING BFORE THE UNITED STATES CONGRESS, TO PROVIDE A <br />MORE EQUITABLE SHARE OF FEDEKAL HIGHWAY FUNDS TO THE <br />STATE OF TEXAS; MAKING OTHER FINDINGS AND PROVISIONS <br />RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE. <br /> <br />WHEREAS, federal legislation authorizing the highway program expires February 29, 2004; <br />and, <br /> <br />WHEREAS, since the inception of the federal highway program in 1956, Texas has given <br />more than $5 billion to other states in the program, as one of the "donor" states which sends in more <br />revenue than it receives in return from the federal highway administration; and, <br /> <br />WHEREAS, despite strong past efforts by former Senators Bentsen and Gramm to rectify <br />this inequity, Texas most recently has received about 88 cents on the dollar in rate of return numbers; <br />and <br /> <br />WHEREAS, the effort to upgrade Texas's return this year is led by Majority Leader Tom <br />DeLay who has filed H.R. 2208, the Highway Funding Equity Act of 2003, ensuring a 95% return <br />on trust fund contributions; and <br /> <br />WHEREAS, if Texas would have enjoyed this 95% return since the enactment of this last <br />highway bill (1998), our state would have received nearly $1.2 billion more to invest in our highway <br />program; and, <br /> <br />WHEREAS, our dependence on the federal-aid portion of our program has grown <br />significantly, especially in light of the fact 2003 is the first year since 1991 that the state legislature <br />has provided a meaningful increase in state highway funds; and, <br /> <br />WHEREAS, we are grateful to the members of the Texas delegation who have supported <br />H.R. 2208 and are hopeful that 100 percent of the delegation will be co-sponsors; NOW, <br />THEREfORE, <br /> <br />BE IT RESOLVED BY TIlE PARIS ECONOMIC DEVELOPMENT <br />CORPORATION: <br /> <br />Section 1. That the findings set out in the preamble to this resolution are hereby in all <br />things approved. <br />