By Craddick                                           H.C.R. No. 47
         77R578 MMS-D                           
                             HOUSE CONCURRENT RESOLUTION
 1-1           WHEREAS, The 1999-2000 Midland High School Federal Reserve
 1-2     Board Fed Challenge Team won the Fed Challenge national
 1-3     championship, an attainment truly worthy of special recognition;
 1-4     and
 1-5           WHEREAS, The Midland championship team consisted of Kelly
 1-6     Beall, Matt Josefy, Mason Manulik, Adam Martin, Ryan Myers, and
 1-7     Robin Nelson and was coached by Hugh Franks with the assistance of
 1-8     Julia Crain; and
 1-9           WHEREAS, Established by the Federal Reserve Bank of New York,
1-10     the Fed Challenge encourages economic literacy among high school
1-11     students by asking them to assume the role of Federal Reserve
1-12     monetary policy makers; teams make a 15-minute presentation
1-13     analyzing the current economic and financial situation, offering a
1-14     short-term forecast of conditions salient to the nation's economic
1-15     health, identifying issues of special concern for policy makers,
1-16     and finally, on the basis of this summation, recommending whether
1-17     the Federal Reserve should, on that particular day, raise, lower,
1-18     or leave unchanged the short-term interest rates; following their
1-19     presentation, teams field questions from a panel of judges that
1-20     usually includes Federal Reserve staff members, financial
1-21     professionals, and educators; and
1-22           WHEREAS, Preparation for the rigorous demands of the Fed
1-23     Challenge entails a major commitment on the part of team members,
1-24     who gather and analyze data covering a wide range of complex and
 2-1     interconnected  topics, both domestic and international, in order
 2-2     to present the most cogent argument for their policy
 2-3     recommendation; and
 2-4           WHEREAS, Reaping the rewards of their considerable efforts,
 2-5     the Midland students swept the field at the area competition in El
 2-6     Paso and the district competition in Dallas before advancing to the
 2-7     final competition in Washington, D.C., where, on May 1, 2000, they
 2-8     capped their spectacular record with the national championship; and
 2-9           WHEREAS, In reaching the pinnacle of the 2000 Fed Challenge,
2-10     this exceptional group surpassed the more than 300 teams nationwide
2-11     that entered the contest; the splendid achievement of the Midland
2-12     team earned each member a scholarship prize of $10,000, with
2-13     another $10,000 awarded to the team's coach and a $40,000
2-14     contribution given to the economics department at Midland High
2-15     School; and
2-16           WHEREAS, Through exhaustive preparation and tremendous
2-17     dedication, the members of the Midland Fed Challenge Team brought
2-18     great credit to their school and community and earned the
2-19     admiration and respect of their families, friends, and teachers, as
2-20     well as of all those associated with the Fed Challenge project;
2-21     now, therefore, be it
2-22           RESOLVED, That the 77th Legislature of the State of Texas
2-23     hereby honor the 1999-2000 Midland High School Fed Challenge Team
2-24     for its outstanding accomplishments and extend to its members
2-25     sincere best wishes for success and happiness in their future
2-26     endeavors; and, be it further
2-27           RESOLVED, That official copies of this resolution be prepared
 3-1     for the Midland High School Fed Challenge Team and its coaches and
 3-2     for Midland High School as an expression of high regard by the
 3-3     Texas House of Representatives and Senate.