The Arizona Ban Bidding on Municipal Bond Issuing Compensation Act, also known as Proposition 4, was on the November 6, 1928 ballot in Arizona as a veto referendum, where it was defeated, thus overturning the legislation. The measure would have deemed unlawful any actions by the board of supervisors, board of school trustees, town council or any other municipal corporation to contract with bidders for bonds for compensation of any expenses for the issuance of said bonds.
| Arizona Proposition 4 (1928)|
|Yes|| 11,994|| 30.07%|
Election results via: Arizona State Library
Text of measure
The text of the measure can be found here.