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