The statement says the system of apartheid in South Africa has been condemned by the United Nations as "a crime against humanity," and it systematically denies economic, political and social freedoms to the vast majority of the populace. Eighty percent of black families live below the subsistence level, and three out of five black children die before the age of five. Millions of dollars of public monies are invested by the City of Berkeley in banks and other financial institutions doing business with the Republic of South Africa; these monies support that racist, anti-democratic government. At the same time, financially viable investments addressing the social and economic needs of the people...
The statement says the system of apartheid in South Africa has been condemned by the United Nations as "a crime against humanity," and it systematically denies economic, political and social freedoms to the vast majority of the populace. Eighty percent of black families live below the subsistence level, and three out of five black children die before the age of five. Millions of dollars of public monies are invested by the City of Berkeley in banks and other financial institutions doing business with the Republic of South Africa; these monies support that racist, anti-democratic government. At the same time, financially viable investments addressing the social and economic needs of the people of Berkeley are ignored. Therefore, the people of Berkeley declare that public monies should be removed from banks and other financial institutions doing business with South Africa and reinvested according to a policy that takes ethical, social and economic considerations into full account. The statement mentions the Citizens Committee on Responsible Investments, the Fair Representation Ordinance (City of Berkeley Ordinance 4780 - N), withdrawal of investments of Berkeley public monies, and prudent principles of financial management.
