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RESOLUTION 72-60 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA RECOMMENDING SUPPORT AND ENDOP~EMENT OF PROPOSITION #1, CAL- VET FARM AND HOME LOAN MEASURE WHEREAS, without additional funding provided for in Pro- position 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 5,000 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 Calif- ornia 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 homehuilder, the businessman and to the California economy in general, NOW, THEREFORE BE IT RESOLVED, that the City Council of the City of Santa Aha hereby recommends the support and endorsement of 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 By the City Council of the City of Santa Ana at its regular meeting held on the l~th day of May , 1972. ATTEST: MAYOR CLERK OF THE COUNCIL -1-