Arizona Proposition 102
, also known as the Amend the Constitution Relating to Investment of State Trust Funds Act
, was on the November 3, 1998
election ballot in Arizona
as a legislatively-referred constitutional amendment
. It was approved
| Investment of State Trust Funds|
| Yes|| 488,711|| 53.3%|
- Election results from Arizona Elections Department.
Text of measure
The language that appeared on the ballot:
Would amend the Arizona Constitution to expand investment options for State Trust funds, allowing investment in equity securities, such as stocks. The Board of Investments would manage funds under conditions set out in the Constitution; require investment according to "The Prudent Investor Rule;" permit certain payments out of permanent funds to designated state institutions.