2004-002-PEDCR
PARIS ECONOMIC DEVELOPMENT CORPORATION
RESOLUTION NO. 2004-002
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE PARIS
ECONOMIC DEVELOPMENT CORPORATION, EXPRESSING SUPPORT
FOR H.R. 2208, THE HIGHWAY FUNDING EQUITY ACT OF 2003,
PENDING BFORE THE UNITED STATES CONGRESS, TO PROVIDE A
MORE EQUITABLE SHARE OF FEDEKAL HIGHWAY FUNDS TO THE
STATE OF TEXAS; MAKING OTHER FINDINGS AND PROVISIONS
RELATED TO THE SUBJECT; AND DECLARING AN EFFECTIVE DATE.
WHEREAS, federal legislation authorizing the highway program expires February 29, 2004;
and,
WHEREAS, since the inception of the federal highway program in 1956, Texas has given
more than $5 billion to other states in the program, as one of the "donor" states which sends in more
revenue than it receives in return from the federal highway administration; and,
WHEREAS, despite strong past efforts by former Senators Bentsen and Gramm to rectify
this inequity, Texas most recently has received about 88 cents on the dollar in rate of return numbers;
and
WHEREAS, the effort to upgrade Texas's return this year is led by Majority Leader Tom
DeLay who has filed H.R. 2208, the Highway Funding Equity Act of 2003, ensuring a 95% return
on trust fund contributions; and
WHEREAS, if Texas would have enjoyed this 95% return since the enactment of this last
highway bill (1998), our state would have received nearly $1.2 billion more to invest in our highway
program; and,
WHEREAS, our dependence on the federal-aid portion of our program has grown
significantly, especially in light of the fact 2003 is the first year since 1991 that the state legislature
has provided a meaningful increase in state highway funds; and,
WHEREAS, we are grateful to the members of the Texas delegation who have supported
H.R. 2208 and are hopeful that 100 percent of the delegation will be co-sponsors; NOW,
THEREfORE,
BE IT RESOLVED BY TIlE PARIS ECONOMIC DEVELOPMENT
CORPORATION:
Section 1. That the findings set out in the preamble to this resolution are hereby in all
things approved.
Section 2. That the Paris Economic Development Corporation expresses its support for H.R.
2208, the Highway Funding Equity Act of 2003, currently pending before the United States
Congress, to provide a more equitable share of federal highway funds to the State of Texas, and
encourages all members of the Texas Congressional delegation to aggressively pursue its passage.
Section 3. That this resolution shall be effective from and after its date of passage.
PASSED AND APPROVED this 20th day of January, 2004.
Don Wall, President
ATTEST:
Richard Severson, Secretary-Treasurer
APPROVED AS TO FORM:
Larry W. Schenk, City Attorney