California Proposition 173, Mortgage Guaranty Insurance Bond Measure (1993)
| California Proposition 173 | |
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| Election date |
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| Topic Bond issues and Housing |
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| Status |
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| Type Bond issue |
Origin |
California Proposition 173 was on the ballot as a bond issue in California on November 2, 1993. It was defeated.
A “yes” vote supported allowing for the issuance of bonds up to $200,000,000 for mortgage guaranty insurance and establishing the terms of such bonds. |
A “no” vote opposed allowing for the issuance of bonds up to $200,000,000 for mortgage guaranty insurance and establishing the terms of such bonds. |
Election results
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California Proposition 173 |
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| Result | Votes | Percentage | ||
| Yes | 2,037,804 | 42.20% | ||
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2,791,573 | 57.80% | ||
Text of measure
Ballot title
The ballot title for Proposition 173 was as follows:
| “ | California Housing and Jobs Investment Bond Act. $185 Million Legislative Bond Act. | ” |
Ballot summary
The ballot summary for this measure was:
| “ | CALIFORNIA HOUSING AND JOBS INVESTMENT BOND ACT. $185 MILLION LEGISLATIVE BOND ACT. • This act establishes a comprehensive program to address the severe housing crisis in California by authorizing the issuance of bonds, requires the proceeds of the bonds to be deposited into the California Housing Loan Insurance Fund for the purpose of providing mortgage guaranty insurance for low and moderate income first-time home buyers pursuant to Part 4 (commencing with Section 51600) of Division 31 of the Health and Safety Code, and requires the repayment of General Fund costs from program revenues in excess of required program costs and reserves. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
A simple majority vote was needed in each chamber of the California State Legislature to refer the measure to the ballot for voter consideration.
See also
External links
Footnotes
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State of California Sacramento (capital) |
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