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New Braunfels Herald Zeitung: Wednesday, March 4, 1987 - Page 7

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   New Braunfels Herald-Zeitung (Newspaper) - March 4, 1987, New Braunfels, Texas                                New March s savings loans are in dire need of H AP A quick cash tcansfu jtefl and a revamping the regulatory are needed to T the ailifig savings aHd teafl twa panels of TexaHs tdld a House In testimotiy before the subcom mittee oh institutions president of the Federal Home Loan Bank of said motley for the Federal Savings and Loan In surance is needed to breathe new life into the ailing in FSLIC is thefund that insures r savings and loan association A General Accounting Office report released Tuesday said the fund is technically insol vent and estimated at least trillion was needed to head off a disaster in the Which could include runs on majority of the industrys problems were brought on by a downturn in and agriculture over the past 18 which provoked a deterioration of real estate values and a consequent crisis in the When aft is judged Itisoi government regulators have the authority 6 liquidate loan which in the case of real estate ffieatts fire sale Green said that of 490 thrifts in a fivestate area under his jurisdic as many as 28 are so far gone financially that they should be cast Another 33 percent of the Southern thrifts were classified as in financial trouble but capable of The five states in that region are New Mexico and Loui Green praised a bill submitted by Steve that would effect of the drop in realestate values by per mitting institutions to assess pro perty values over a multiyear cy cle rather than at current market The Barlett bill would disallow participation of those thrifts seen to taken advantage of deregulation in the industry dur ing the early 1980s to make quick profits through highrisk there are institu tions in the states in question that ace dead of dying of selflnfiieted said Waiter president af the Texas Savings and Loan it is also undeniable that there are a great many institutions now experience ing financial problems in these distressed states that are quiity of nothing more than failure to predict the inherently unpredic table and that have the managerial given the to work their wayout of their current McAllister joined Greenland a panel of Texas regulatory and In dustry officials in calling oh the committee to accept a program of for and forbearance on real estate v Essentially what is being ask ed is that there be a regulatory policy which allows otherwise healthy savings and loans to sur vive despite sharp in areas such as Texas and the agricultural said chairman of the subcommittee on financial AUSTIN AP Measures would stretch the life span of tem porary tax hikes that were to die inAugust are ready to undergo full HoQse debate this Thurs The House Ways and Means Com mittee approved the two proposals by an IM vote Tuesday that would tend sales and gasoline lax increases put in place in The taxWHting committee also ap proved a state income tax prohibition in a surprise 5 No date has been set for the income tax an old controversy dating back many is just another revenue enhancing Stan committee said when asked if the tax extensions part of Bill Clements This tax package Is not anything said This Is just dealing with the 1 just want to get the ball rolling and get It out of center Schlueters bills would produce billion in 198889 by continuing the tax increases that were passed as tem porary by the 1986 special session to expire on The 1986 sales tax increase was from to percent and the gasoline tax from to 6 15 cents per 9 Ifl response te questions from Tom Schiueter said the billion from his bills coupled With other revenue measures recommlnded by if passed by the Would total the revenue figure set by the Gerald head of the House Conservative asked to delay the vote for at least a saying he wanted to gauge the feeling of his Id rather not do Schlueler We need to gel this on the floor by Geistweidt asked about Clements recommendation that state taxes be particularly by broadening the sales tax 1 am told the bill oh the Commis sion for Tax Equity will be laid out In the House next week and it should be passed promptly by the gehluetef 1 wauld hope we would get a report from the commis sion sometime this summer and if we are still in session we can act on it Clements endorsed extending the temporary taxes at his Tuesday news but said he hopes a task force will come Up with recommen dations for overhauling the sales tax to more fairly spread out the Geistweldt voted present on both the tax bills and Larry DHouston voted against Immediately after the tax bill Geistweidt moved that the commit tee vote pn a proposed constitution amendment outlawing a stale In come either personal or cor The measure had been left hanging about two Weeks ago when an at tempt was made to send It to a sub committee and Schlueter abruptly adjourned the committee without a 9 1 DAVID MAY v Staff Writer Rivers panel considers longterm regional water use alternatives t Representatives formed regional of a recently water resource study said Tuesday it is time to ac tively pursue longterm alternatives to the regions water supply and urg ed governmental entities to work together to develop those Members of the citizens advisory 4ask force to the cosponsored fby the Edwards Underground Water District and city of San spoke to New Braunfels Rivers Ad visory Group The groups about alternatives available and New Braunfels role in relation to the fivecounty region which depends on the Edwards Aquifer as its main The study reaffirmed what most of us know all Given the grow ing demands on water we must plan for our future water needs or the risk of losing the quality and quantity of this valuable natural said San Antonio John Smartt who chaired Mayor Henry Cisneros citizens advisory are few problems more im to the future of each of us and there is no problem which involves so many competing none of which has taken any effective leader ship to get you and me off the dime and moving toward developing a longterm Smartt The Edwards Plateau in the Hill Country supplies surface water to more than million people in Uvalde and Medina Some acre feet of water is pumped annually to meet the industrial and recreational needs of the The using population growth projections which are expected to tri ple in the next 50 said such an increase in demand will run the spr ings dry by the year Glenn Longley of Hays County and representing the Eastern coun including said droughts of the same or lesser intensity as the one experienced here in could dry up the springs before that It is going to behoove par ticularly in the Eastern to watch very closely to see how water conservation planning is set up to see that it will adequately ensure our continued spring Longley Recharge averages are just It is a sub ject of vital According to the regional in order to sustain spring pump ing levels between and acre feet annually must be maintain If pumping levels exceed that amount for any extended the springs will be The survey projects that by the year 2040 demand on the springs would increase to acre feet per year with 85 percent of that con sumed by Bexar Annual recharge amounts average The time has arrived to develop a A drought of lesser intensity and shorter duration than the 1984 drought will achieve the same disastrous results we achieved in the 10year drought that ended in Longley told the rivers The fact of the matter if nothing is the burden will total ly shift to the Guadalupe River basin and this can not be allowed to Longley said that the Eastern counties have been given inade quate consideration as to concerns for recreation and downstream water though he said they have been considered to some Weve made good movement in finding logical solutions so that we dont have to have court ordered solutions imposed on he Three alternatives for future water supplies given by the survey are con wastewater reuse and development of or sur face Feasibility and im plementation of using any or all alternatives are discussed within the survey as well as proposed cost sharing by entities in the San Antonio reportedly favors con junctive use of surface and ground which would require higher Reuse of wastewater is deem ed as the least expensive though its use is precarious due to health and environmental Smartt said it is up to the people to develop future water supply alter We in Texas do not have a federal government standing and willing to bear some significant share of the million to billion price tag which our solution in the Edwards Aquifer area will he Longley noted that the possibility of bad water intrusion looms as a big ger problem for New Braunfels and San Marcos than it does for San An New Braunfels has a very narrow reservoir The citys wells are located close to the bad water line and intrusion of bad water is possible if water levels are drawn below historic m N N i u jKJ Quality Furniture Restoration Repairing Brass Polishing One of the largest and most professional restoration shops in the 1171 6206631 New Braunfels Creek View Veterinary Announces Extended Office Hours our Newly Remodeled Clinic 1121 Eikel 6257551 Monday thru Friday p Saturday 12 Noon Tuesday Evening By Appointment Only Clements raps urges income tax ban AUSTIN AP A proposed ban ion personal or corporate income taxes is on its way to a debate in the Tex as and Bill Clements urging lawmakers to approve I certainly stand behind these Clements said ad ding that either type of tax would damage the Texas Any form of an income tax would be disastrous for us in Texas in my judg Legislation to enact such a ban was introduced in the Senate by Buster RLake and in the House by Stan Schlueters House Ways and Means Committee endorsed the ban Tues and the lawmaker said he ex pected debate in the full House on During his weekly news con Clements said Texans can believe that his opposition to an in come tax remains although some critics say he flipflopped on a cimpiign promise against renewing tte currtnt temporary state sales tax ing an adverse Clements Contrary to some that is not a dead The people of Texas have spoken in this They have overwhelmingly said that they want budget execution I do not think that this Legislature will thwart the will of the he On other Clements He remains a supporter of capital The death penalty will go Im in favor of the death I always Texas has a good chance of lur ing the highenergy physics research project called a super conducting There is no question that we will be a serious contender for this pro Clements adding that Texas chief competition appears to be California and We are under a fullblown effort at this BUY SAVINGS BONDS Clements this week voiced support lor keeping the sajes levy af percent for two more The fefst course of action would be te gpnUnye the socalled temporary taxesThat his nothing whatsoever to jjs with my stand with regard jyiej corporate or personal in gomf Clements J am Mi Qnjy to in ggme i wyJd immediately ygte iJiy Oat cgroe te my the Legislature for failing to toil woujj give him so t4dget execution pQwer vyoyjd allow a governor adjustments when isnt in sessio manor betwsea the by TAX PREPARATION Darryl Hoag Certified Public Accountant New Braunfels National Bank Building 1000 North Suite 202 6294922 Computerized Financial Audit and Management Advisory he recent tax changes are the most sweeping in This year put HJkR Block on your kl riciii OKA K USED CARS They will be roadready when youre ready to hit the road this spring 68M H 3M 85Zr28 DEMO 11M 86 CUTLASS SUPIUPH 15M 8f CAMARO COUPE Blocks trained tax preparers gnderstand the new tax Well answer yotir questions and find you the biggest refund youre entitled This year get back everything youve got HOgE AMERICANS fWP A HSR BLOCK INGSME MAZDA 626 LX 84 MAZDA HX7 75M 85I50SPOBTLWB 14M H450 84 TRANS AM 34M 85 CUSTOM DEIAXESWB HM 79 RWO VAN 118M 83TOBQNAOP 39M r SUPBEME4PK 15M D KCAR 31M I158H 47M K VV 44M WHEEL 45636 83 CAMABO COUPE G8M 86S1QPKMO ygu buy give US G EGER flBBi Wtf tt 472 Antonio New gfgynffii 6253451 1   

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