HomeMy WebLinkAboutCC RESO 10,675RESOLUTION NO. 10,675
RESOLUTION ENDORSING CAL -VET. PROPOSITION 1,
THE FARM AND HOME LOAN MEASURE
WHEREAS, without additional funding provided
for in Proposition 1 on the June 6, Primary Election Ballot,
the Cal -Vet farm and home loan program will be unable to
grant any further loans; and
WHEREAS, the California Department of. Veterans
Affairs now has more than 3,000 approved applications now on
file and anticipates another 5,0.00 during 1972; and
WHEREAS, California now has-600.,000. Vietnam veterans,
increasing at the rate of 8,000 each month, each of whom should
have the opportunity to receive the same low -interest loans
offered previous veterans; and
WHEREAS, this program has been in existence for more
than 50 years, and has provided more than $2 billion to 250,000
California veterans for low-cost farm and home loans; and
WHEREAS, the Cal -Vet farm and home loan program
is self-supporting and self-liquidating at no 'cost to the
taxpayers; and
WHEREAS, this is an exemplary program acclaimed
as a model throughout the nation; and
WHEREAS, every previous Cal -Vet bond issue submitted
to the voters since inception in 1921 has been approved; and
WHEREAS, the benefits derived from such loans are
not only incalculable to the veteran, but also to the home-
builder, the businessman and to the California economy in
general;
NOW, THEREFORE, BE IT RESOLVED that the City Council
of the City of National City does hereby endorse Proposition 1,
the-$250 million Cal -Vet bond issue, on the June 6, 1972 ballot,
and encourages members and friends to vote for it.
PASSED AND ADOPTED this 23.rd day of May, 1972.
ATTEST:
VICE MAYOR
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