Dear Santa Fe Councilors & Citizens:
As many institutions around this country and the world, particularly commercial banks, are falling apart, Public Banking is an idea whose time has come. Santa Fe’s City Council has an opportunity to lead the way into the future by embracing this new direction and adopting the resolution recently introduced by Councilor Renee Villarreal and supported by Councilors Carmichael Dominguez and Joseph Maestes who are to be commended on their foresight. Public Banking is a transformed monetary and banking system that functions in the public interest, resulting in broadly shared prosperity. The benefits to Santa Fe include revenue from bank loans of the city’s tax deposits, lower interest and fees on city borrowing such as for construction bonds, security and control of the city’s resources prioritizing investment in projects that serve our community and retention of these funds locally to foster the Santa Fe economy.
John Meade – Santa Fe
