HomeMy WebLinkAboutResolutions - No. 3187RESOLUTION NO. 3187
RESOLUTION APPROVING VETERANS BOND
ACT OF 1968
WHEREAS, the State of California initiated in 1921 a Veterans
Farm and Home Program to provide returned California servicemen
and women with homes and farms an a long-term, low-interest basis;
and
WHEREAS, in the past 45 years the State has loaned its credit in the
sum of $2, 500,000, 000, to enable California veterans to finance homes
and farms on a small -payment, low -cast plan; and
WHEREAS, protection to the taxpayer and widows and orphans of
veteran contract holders has been provided through group life and
disability insurance; and
WHEREAS, the Department of Veterans Affairs has so administered
this program that all payments due an these bond issues and all costs of
administration of the Cal -Vet Farm and Home Program 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 availabie 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 Lodi in meeting assembled this 1st day of May, 1968, does hereby
endorse Proposition No. 1 on the June ballot which provides $200,000,000
of Veterans Bonds for the continuance of the California Veterans Farm
and Home Program.
Dated: May 1, 1968
I hereby certify that the foregoing Resolution No. 3187 was
duly and regularly passed and adapted by the City Council
of the City of Lodi at an adjourned regular meeting thereof
held Wednesday, May 1, 1968, by the following vote:
Ayes: Councilmen Brown, Culbertson, Kirsten, Schaffer
and Hunnell
Noes: Councilmen - None
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