HomeMy WebLinkAboutReso 1962-2826 Resolution NO. 2826
California Veterans Farm and Home Purchase Program� • ,
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RESOLUTION No. 28 26 '
' ENDORSING CONTINUANCE OF THE CALIFORNI A
VETERANS FARM AND HOME PURCHASE PROGRAM
' WHEREAS, the State of California initiated in 1921 a Veterans Farm
and Home Purchase 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 40 years the State has loaned its credit in
the sum of $1, 835, 000, 000 to enable California veterans to finance homes and
farms on a small-payment , low cost plan; and
WHEREAS, this program has contributed materially to the economy
of California and its counties; and
WHEREAS, protection to the taxpayer and widows and orphans of
veteran purchasers has been provided through group insurance; and
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 opportunify
to acquire homes and farms under the most favorable terms available anywhere
or anyhow; and
WHEREAS, funds heretofore approved by the people will soon be
depleted by loans made and applied for.
NOW, THEREFORE, be it RESOLVED that the City Council of the
City of Chula Vista, State of California, in meeting assembled this 8th day of
May, 1962 does hereby endorse Proposition No. 2 on the June ballot which
provides $250, 000, 000 of Veterans Bonds for the continuance of the California
Veterans Farm and Home Purchase Program.
� ,
t � �.
ADOPTED AND APPROVED by the CITY COUNCIL of the CITY OF
CHULA VISTr1, CALIFORNIA, this $th day of May 19 62
by the following vote, to-wit:
' . AYES: COUNCITl1EN McAllister, Menzel, Smith, McMains
NAYS : COUNCIIMEN NnnP
, ABSENT: COUNCIIMEN DeGraaf
v..�''v /i(��7�0� �.�
- Mayor of the City of C la Vista
ATTEST � �%��
'ty Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO ) ss.
CITY OF CHULA VISTA )
I, KENNETH P. CAMPBELL, City Clerk of the City of Chula Vista,
California, DO HEREBY CERTIFY that the above and foregoing is a full,
true and correct copy of , and
that the same has not been amended or repealed.
DATED
City Clerk
. . ' . " . Q�Fd.
. ' ` f Qr�.
� kESOLUTION „�� ��z� JJ
�c � r'i ST�
wI�REAS, the State of Californi2 initiated in 1921 a Veterans Farm and
Home Purchase Program to provide returned California service men and women with
hou,es and farms on a long-term, lok interest basis; and
'virIEFiEAS, in the past 40 years the State has loaned its credit in the
sum o£ $1,E35,000,000 to enable Cali£ornia veterans to finance homes and fasm;s
on a small-payment, low cost �lan; and
WI�FiEAS, this program has contributed materially to the economy o£
Caliiornia and its counties; and
irrHEFiEAS, protection to the taxpayer and widows and orphans o£ veteran
purchasers has been provided through group insurance; and
WHEREAS, the Department of Veterans Af£airs has so administered this
program that all payments due on these bond issues and all costs of administra-
tion have been paid u-ithout the use of one cent of tax money, while creating a
� substantial reserve and giving California veterans the opportunity to acauire
hoses and farms under the most favorable terms available ar�ywhere or anyhow; and
h?�REAS, funds heretofore approved by the people will soon be depleted
by loans made and applied for. --- - - "
N047, TI�REFORE, BE IT FiE50LVED that the City Council o£ the City of
(Y.`fal /d //iS T , State of Cali£ornia, in meeting assembled this
� th day of TSay, 1962, does hereby endorse Proposition No. 2 on the June ballot
which provides $2$0,000,000 of Veterans Bonds for the continuance of the California
Veterans Farm and Home Purchase Program.
Pl�SSED AND ADOPTED by the City Council of the City of ��`�� �ST ,
� State of California, on the � th day of May, 1962, by the follo-�ring vote:
AYES:
NOES:
- r'.BSENT:
(official signature)