California Online Voter Guide
November 2008 General Election
17th edition
Proposition 12 - Veterans’ Bond Act of 2008. Passed
Bond Measure
Summary
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This act provides for a bond issue of nine hundred million dollars ($900,000,000) to provide loans to California veterans to purchase farms and homes.
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Appropriates money from the state General Fund to pay off the bonds, if loan payments from participating veterans are insufficient for that purpose.
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Costs of about $1.8 billion to pay off both the principal ($900 million) and interest ($856 million) on the bonds; costs paid by participating veterans.
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Average payment for principal and interest of about $59 million per year for 30 years.
What a Yes or No Vote Means
YES: A “YES” vote on this measure means: The state would be able to issue $900 million in general obligation bonds to provide loans for the veterans’ farm and home purchase (Cal-Vet) program.
NO: A “NO” vote on this measure means: The state would not be able to issue these bonds for this purpose.
Full Text of Proposition 12 - (PDF)
Official Campaign Web Sites and Contact Information
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Yes on Proposition 12
Yes on Prop 12
JP Tremblay or Jerry Jones
California Dept. of Veterans Affairs
1227 O Street
Sacramento, CA 95814
Phone: (916) 653-2192
Web site: www.cdva.ca.gov
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No on Proposition 12
No on Prop 12
Gary Wesley
Attorney at Law
707 Continental Circle
Mountain View, CA 94040
Phone: (408) 882-5070
Email: gwesley00@yahoo.com
Who Signed the Ballot Arguments
- Yes on Proposition 12
Senator Mark Wyland, Chairman, Senate Committee on Veterans Affairs
Assemblyman Greg Aghazarian
Assemblyman Tony Strickland
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No on Proposition 12
Gary Wesley
News Articles
CVF's News Stories section provides California voters with convenient access to a sampling of news articles that give an overview of the potential impact of the propositions on the ballot.
Follow the Money
No committees have been formed to raise funds for or against this ballot measure.
This page was first published on September
27, 2008 |
Last updated on
December 21, 2008
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