|32||VETERANS' BOND ACT OF 2000.|
|Ballot Measure Summary|
VETERANS' BOND ACT OF 2000.
Put on the Ballot by the Legislature.
This act provides for a bond issue of five hundred million dollars ($500,000,000) to provide farm and home aid for California veterans. Fiscal Impact: Costs of about $858 million over 25 years (average cost of about $34 million per year); costs paid by participating veterans.
WHAT YOUR VOTE MEANS
A YES vote on this measure means: The state would be able to issue $500 million in general obligation bonds to provide loans for the veterans' farm and home purchase (Cal-Vet) program.
A NO vote on this measure means: The state would not be able to issue these bonds for this purpose.
The time-honored Cal-Vet Loan Program helps wartime veterans to purchase homes and farms in California at no expense to taxpayers. Voter-approved bonds finance the Program and are repaid, along with all program costs, by veteran loan holders. This measure would replenish such bonds. We urge your support.
Proposition 32 is a half billion dollar bond measure that would cost taxpayers a fortune. The money would be used to buy homes for "veterans" defined to even include persons like Presidential candidate George W. Bush who joined his state's Air National Guard instead of going to fight in Vietnam!
FOR ADDITIONAL INFORMATION
Assembly Committee on Veterans Affairs
California State Assembly
1020 N Street, Room 357
Sacramento, CA 95814
Melvin L. Emerich
Attorney at Law
95 South Market St., #300
San Jose, CA 95113