North Dakota Measure 2 (Primary)(1990)
North Dakota Measure 2 (Primary) (1990) provides that the resources trust fund is a constitutional trust fund and provides for transfer of funds to resources trust fund. This ballot measure was referred to the ballot by the North Dakota State Legislature. It passed with 58.6% of voters in favor.
Text of measure
This proposed constitutional amendment authorizes the legislative assembly to dedicate a percentage of the oil tax revenues to a special fund to be known as the resources trust fund. Money placed in the fund will be used to pay for water projects, including rural water systems, and energy conservation programs. Any amounts in the sinking fund for the payment of North Dakota water development bonds, southwest pipeline project, and any amounts in the existing resources trust fund must be transferred to the constitutional trust fund. If approved by the voters, this measure will be effective on July 1, 1991 and applies to tax collections received on or after that date. (SL 1989, ch. 795/HCR 3022)