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Proposition 12: Veteran's bond act of 2008
Kaajal Morar
Issue date: 10/30/08 Section: Voter's Guide
Proposition 12, the Veterans' Bond Act of 2008, proposes issuing $900 million in bonds to provide home and farm loans for California veterans. The bonds would be paid off over a period of 30 years, according to the Official Voter Information Guide Web site, with interest totaling an additional $856 million.
Tom Richards of the California State Commanders Veteran's Council:
"In the 87-year history of the California Veteran's Program, there's never been any of tax payers money spent. It's managed very well and the standards are very high. The bonds pay for themselves and they will continue to pay for themselves."
Argument against Proposition 12, as listed in the Official Voter Information Guide:
"Proposition 12 would authorize the sale of another $900 million in bonds to provide low-interest home (and farm) loans to veterans. Voters may wish to end the program or insist that it be limited to the most needy or deserving veterans - such as those injured in combat."
Tom Richards of the California State Commanders Veteran's Council:
"In the 87-year history of the California Veteran's Program, there's never been any of tax payers money spent. It's managed very well and the standards are very high. The bonds pay for themselves and they will continue to pay for themselves."
Argument against Proposition 12, as listed in the Official Voter Information Guide:
"Proposition 12 would authorize the sale of another $900 million in bonds to provide low-interest home (and farm) loans to veterans. Voters may wish to end the program or insist that it be limited to the most needy or deserving veterans - such as those injured in combat."
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