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Mayor M. Gene Teague and Members, <br /> Martinsville City Council <br />Page Two <br />December 9, 2003 <br /> <br />Incentive Funding for Regional Cooperation: Support reinstatement of funding <br />for the Regional Competitiveness Act. <br /> <br />Revenue Loss: Support the restoration of state funding for ali Constitutional <br />Offices and 599 Funding. <br /> <br />Reimbursement: AITn-m support for the letter (Attachment B) submitted to the <br />Governor by Senator Roscoe Reynolds requesting that he include $450,000 in <br />his budget as a reimbursement to the City for funds returned to the State under <br />the VDOT Bonded Road Program. <br /> <br />Governor's Tax Reform: Reserve comment until more information is available <br />regarding the potential long term impacts on local revenues. <br /> <br />Bank Franchise Tax: Reserve comment on the letter received from the Virginia <br />Bankers Association (Attachment C) requesting support of legislation that <br />would cause Credit Unions to fall within the same definition as Banks for the <br />purpose of requiring payment of the so-called Bank Franchise Tax. <br /> <br />/EBR <br />Attachments <br /> <br />Respectfully submitted: <br /> <br />Earl B. Reynolds, Jr. <br />City Manager <br /> <br /> <br />