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<br />RESOLUTION NOc 2081 <br /> <br />ENDORSEMENT OF VETERANS HOME AliD FARM PROGRAM <br />BOliD ACT 19S6~ <br /> <br />WHEREAS, the state of California initiated in 1921 a <br />Veterans Horne and farm. pl"ogrsm. to provide returned California <br />service men and women with homes and farms on a long term, <br />low interest basis; and <br /> <br />WHEREAS/J in the past .35 years the state has loaned its <br />credit in the sum. ot $625,000,000 to enable 90,000 veterans <br />to finance homes and .farms on a. small payment low cost plan; and <br /> <br />lYHEREAS, protection to the taxpayer and widows and orphans <br />of vetera.n p'U.rchasers has been provided through group insurance; <br />and <br />WHEREAS, the interest cost to veterans has been reduced to <br />and is baing maintained at 3%; and <br /> <br />WHEREAS, the Depa.rtment of Veteran Affairs has so adminis- <br />tered this progrron that all payments due on these bond issues <br />a.nd all costs of administration have been paid without the use <br />of one cent of tax money while oreating a substantial reserve and <br />giving California veterans the opportunity to aoquire homes and <br />farms under the most favorable terms available an~Nhere or any- <br />how J and <br /> <br />WHEREAS, funds heretofore approved by the people have bean <br />depleted by loans made and outstanding; <br /> <br />NOWt THEHII;POH]!~, BE IT RESOLVED that the 01 ty Counoil of the <br />City of Redwood City~ California, in meeting assembled this 6th day <br />of August, 1956, does hel~eby endorse Proposition No~ 1 OIl the <br />liovember ballot which provides ~5500$OOO~OOO of veterans bonds for the <br />continuance of" the Ca.lifornia Ve'&erans HOlne and Farm programe <br /> <br />... 1r .. <br /> <br />C E R T I FIG A T ION. <br />__ t.~ ... ..."., ~ ~.. ...- ..,., .... ~ ....... .-..- OOlP <br /> <br />I, R. S. Dodge, city Clerk of the City of Redwood City <br />do hereby oertify that the above and foregoing resolution was <br />duly and regularly passed and adopted by the City Council of <br />the C1'cy of Redwood City at a regular meeting held by said city <br />Council on the 6th day of August, 19.56 by the following vote: <br /> <br />AYES: councilmen Carl Britsahgi, Floyd Gr~lger, Sidney <br />Herkner, ~!t ~s, Hiram stout, Louis Weiss and :Mayor <br />Win. Royer. <br /> <br />liOES: None <br />ABSE1'iT: ~. t' 4:f /'/....tt<./L-., · <br />In WITNESS WHEREOF. I have hereunto set my hand and affixed <br />the official seal of said city this 8th day of August, 19$60 <br /> <br />I~~/&II-/'" ,- <br />city Clerk of'~hecity of <br />Redvvood Oi ty <br />