HomeMy WebLinkAbout59-02RESOLUTION No. 59-2
RESOLUTION ENDORSIN'G THE CONTI1YUANCE OF THE CALIFORNIA
VETERANS FARM A~'D HOME PROGRAM
( PROPOSITION NO. l)
WHEREAS, the State of California initiated in 1921 a Veterans
Dated this: 9th day of
_
ATTEST:
.J_uly .... , 1958 o
MAYOR
NOW, %~EREFORE, BE IT RESOLVED that the City Council of the
City of Ukiah in meeting assembled this 9th day of Ju___~_~~,1998
does hereby endorse Proposition i~o. I on the November ballot
which, provides $300,000,000 of Veterans Bonds for the continuance
of the California Veterans Farm and Home Program.
Farm and Home Program to provide returned California service
men and women with homes and farms on a long-term, low-interest
basis; and
WHEREAS, in the past 37 years the State has loaned its credit
in the sum of $1,13~,000,000 to enable California veterans to
finance homes and farms on a small-payment,
~ low-cost plan;
and
WHEREAS, Protection to the taxpayer and widows and orphans of
veteran purchasers has been provided through group insurance;
WHEREAS, the Department of Veterans Affairs has so administered
this program that all payments due on these bond issues and all
costs of administration have been paid without the use of one
cent of tax money, while .creating a substantial reserve and
giving California veterans the opportunity to acquire homes
'
and farms under the most favorable terms avail, able an.vwhere or
anyhow; and
WHEREAS, funds heretofore aoproved by the people will soon be
depleted by loans made and applied for