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KLG:ar <br />4/14/80 <br /> <br />RESOLUTION NO. 80-68 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA URGING SUPPORT FOR PROPOSITION 2 ON <br />THE JUNE 3RD BALLOT <br /> <br /> WHEREAS, Proposition 2, the Cal-Vet housing measure <br />on the June 3, 1980 ballot, is a $750 million bond issue to <br />replenish funds for very low-interest home and farm loans to <br />California veterans; and <br /> <br /> WHEREAS, Cal-Vet funded more than $573 million in <br />low-interest loans in 1978 alone; yet the backlog of presently <br />unfilled applications runs into many thousands; and <br /> <br /> WHEREAS, Cal-Vet funds will be completely exhausted <br />by June of this year, and the program discontinued unless <br />Proposition 2 is approved; and <br /> <br /> WHEREAS, The Cal-Vet program is completely self- <br />liquidating, and has never cost California taxpayers one <br />cent in nearly 60 years of existence; and <br /> <br /> WHEREAS, with conventional interest rates soaring <br />out of reach, Cal-Vet low-interest home loans (up to $60,000 <br />each) will provide a tremendous stimulus for home-building <br />and related industries; and <br /> <br /> WHEREAS, Cal-Vet Proposition 2 is a non-partisan <br />measure, supported by leaders of both political parties as <br />well as business people, labor, women, taxpayers, minorities <br />and other groups. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL <br />OF THE CITY OF SANTA ANA: <br /> <br /> That the City Council of the City of Santa Ana <br />does hereby endorse Proposition 2, the Cal-Vet housing measure, <br />and urges all-out public support for this important program. <br /> <br /> ADOPTED this 215t day of April , <br />1980, by the following vote: <br /> <br />AYES: <br /> <br />NOES: <br /> <br />COUNCILMEN: Bricken, Griset, Luxembourger, Markel, <br /> Serrato, Ward, Yamamoto <br />COUNCILMEN: None <br /> <br />ABSENT: COUNCILMEN: None <br /> <br /> ATTEST: <br /> <br /> / NICE C. / <br /> ERE THE C UNC <br /> <br />ES E. WARD, MAYOR <br /> <br />APPROVED AS TO FORM: <br /> <br />KEITH L. GOW <br />CITY ATTORNEY <br /> <br /> <br />