Alaska Veterans' Bonds Question, Bonding Proposition A (2010)

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The Alaska Veterans' Bonds Question, also known as Bond Proposition A, was on the November 2, 2010 general election ballot in the state of Alaska as a legislatively-referred state statute, where it was approved. Approveda The measure allows residents in the state to decide whether to guarantee residential mortgage bonds to veterans. The revenue bonds would be issued by the Housing Finance Corporation. Specifically, the measure asked voters if the state should guarantee those mortgage bonds, and that the amount should not exceed $600 million.[1][2]

Election results

See also: 2010 ballot measure election results

Official election results follow:

Alaska Veterans' Bonds, Proposition A
ResultVotesPercentage
Approveda Yes 152,629 61.98%
No93,62438.02%

Results via the Alaska Elections Division

Text of measure

Ballot language

The ballot language for the measure read:[3]

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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 [ ]

Summary

The summary of the measure read:

Relating to the issuance of state-guaranteed revenue bonds by the Alaska Housing Finance Corporation to finance mortgages for qualifying veterans; authorizing the Alaska Housing Finance Corporation to acquire the building that it occupies for an amount that does not exceed $14,500,000; authorizing the Alaska Housing Finance Corporation to acquire a building or purchase an undesignated site for the relocation of its public housing client intake and assisted housing center for an amount that does not exceed $3,500,000; and providing for an effective date.[1]

Support

Supporters

  • The Alaska Housing Finance Corporation, in a Sponsor Statement, stated about the measure, "As a result of recent passed legislation in Congress, Alaska along with the states of California, Oregon, Texas and Wisconsin have been able to offer more loans to veterans through the program than the previous years. Because of this, it is estimated that the Corporation could run out of bond authorization for the veterans loan program some time in 2011. This is the reason for the urgency of getting the issue to the ballot in 2010."[4]
  • According to AHFC President Dan Fauske, "Alaska is lucky as we are one of only five states in the nation that can offer the program to veterans. The others are California, Oregon, Texas and Wisconsin. As the state with the highest per capita number of veterans, it is a program that is a very popular way of thanking and keeping veterans in Alaska."[5]

Opposition

There was no known opposing campaign for Proposition A.

Media endorsements

See also: Endorsements of Alaska ballot measures, 2010

Support

  • The Homer News endorsed the measure, stating, "The last time veterans bonds were on the general election ballot was 2002, according to the AHFC. The bonds were approved by more than 70 percent of voters."[6]
  • The Juneau Empire was in favor of the measure.[7]

Path to the ballot

On March 31, 2010, the measure was passed by the Alaska State Senate, with a vote of 18-1. The measure was then sent to the Alaska House of Representatives, where it was approved by a vote of 38-2 on April 14, 2010. The Governor signed the bill to the ballot on June 5, 2010.[8]

See also

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Additional reading

References