State Guaranteed Veterans Residential Mortgage Bonds, $600,000,000
Shall the State of Alaska unconditionally guarantee as a general obligation of the state the payment of principal and interest on revenue bonds of the Alaska Housing Finance Corporation issued in the principal amount of not more than $600,000,000 for the purpose of purchasing mortgages made for residences for qualifying veterans, as defined by law?
Bonds Yes [ ]
Bonds No [ ]
Click here for the SB217
*Note* Bonding propositions are "we the people" approving loans to be backed by the State. If the State cannot cover the obligation then "we the people" could be saddled with the funding obligation through additional taxes or fees. That said, the default rates on Veteran loans is very low, this type of bonding has been done before, and it is viewed as a wise investment.
New 10/28/10 Additionally my brother-in-law "took a class and learned that the Alaska housing finance is the only state program that actually MAKES MONEY for the state!"
Rather then write up an entry on this I will refer you to fellow blogger at Alaska Pride. His entry on this topic is well researched and documented. If you want to know how your representative voted be sure to click on the dated links for when each branch passed it.
*His recommendations are not necessarily mine*
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