Letter to Professor David Wiley reporting that, in 1982, the City Commission of Grand Rapids passed a resolution directing that, as long as South Africa's official policy is racial apartheid, the City's idle funds may not be invested in banks, businesses, or other entities that do business in or with that country. Kent County Commissioner James Vaughn is scheduled to present a similar resolution to the five-member Legislative Committee of the Kent County Commission on March 25. (RESOLUTION BY COMMISSION VAUGHN is enclosed.) The Coalition for Local Reinvestment is seeking letters of endorsement and support for the resolution from a variety of religious, academic and civic organizations within...
Letter to Professor David Wiley reporting that, in 1982, the City Commission of Grand Rapids passed a resolution directing that, as long as South Africa's official policy is racial apartheid, the City's idle funds may not be invested in banks, businesses, or other entities that do business in or with that country. Kent County Commissioner James Vaughn is scheduled to present a similar resolution to the five-member Legislative Committee of the Kent County Commission on March 25. (RESOLUTION BY COMMISSION VAUGHN is enclosed.) The Coalition for Local Reinvestment is seeking letters of endorsement and support for the resolution from a variety of religious, academic and civic organizations within and outside of Kent County. The letter discusses the investment of "idle" County funds, financial institutions making or maintaining loans to the Republic of South Africa or to a subsidiary or affiliate of a U.S. firm operating there, the Investment Policy of the County of Kent, the County Treasurer, and the Department of State.
