Santa Rosa Councilmember Jack Tibbetts endorsed the proposed resolution for a Public Bank of Santa Rosa as another city steps forward toward Public Banking. Last week Santa Rosa City Council had its public hearing for their 2018-2019 budget priorities. Most speakers spoke in support of Public Bank, seeing it as critical to addressing the community’s needs following the devastating fires. Friends of Public Banking Santa Rosa have posted the proposed resolution on their new website.
The Press Democrat reports:
“The idea of a public bank had the largest number of supportive speakers, thanks largely to the tireless advocacy of Shelly Browning. She and her compatriots argued that founding a public bank would cut the city’s borrowing costs, eliminate fees to big Wall Street banks and give the local cannabis industry a place to park all its cash.
Browning said she’d gathered nearly 500 signatures in support of the idea.
“It’s time for Santa Rosa to get on board,” Browning said.