No on Prop. V; Yes on Prop. W

Initiative Ordinance V in the City Los Angeles is not as innocent as its title, Jobs With Peace, makes it sound. We recommend a no vote on the Tuesday ballot.

Ordinance V would direct the city to create a new agency, the Los Angeles Development Council, to encourage the reduction of federal military spending and the use of more dollars for housing, education, health care, public transportation, small business development and similar community needs. The goal may seem admirable, but the methods are cumbersome, potentially expensive and probably unreachable on the city level.

Under the proposal, an unpaid advisory development council would encourage the investment of public and private pension funds in non-military ventures to broaden the employment base of Southern California. A more diversified regional economy is certainly a healthy objective, but this is

not the way to get it.

Charter Amendment W, also on the ballot in the city, is something else. Its narrow purpose is the avoidance of writers cramp--and we urge a yes vote.

The city treasurer is required by the charter to sign municipal housing revenue housing notes by hand; last year he had to sign 70,000 of them. The amendment would allow the treasurer to use a facsimile machine or a stamp if the mayor and the city council approve.

The housing bonds are used to encourage contractors to build affordable housing, something Los Angeles sorely needs.

The proposal would do more than save wear and tear on the treasurer. It would also revise an awkward system of depositing bond funds that can cost the city $4,658 a day in interest while the funds move from place to place.