The Ohio Political Subdivisions Debt Level Restrictions Amendment was on the November 3, 1925 ballot in Ohio as a legislatively-referred constitutional amendment, where it was defeated. The measure would have placed restrictions on the incurring of indebtedness by political subdivisions.
| Ohio Amendment 1 (1925)|
|Yes|| 450,218|| 45.69%|
Election results via: Ohio Secretary of State
Text of measure
The language that appeared on the ballot:
||ARTICLE VIII, SECTION 13
PROPOSING TO AMEND ARTICLE VIII OF THE CONSTITUTION OF THE STATE OF OHIO BY THE ADDITION OF A NEW SECTION TO BE DESIGNATED AS ARTICLE VIII, SECTION 13 RELATIVE TO THE INCURRING OF INDEBTEDNESS BY POLITICAL SUBDIVISIONS.
Sec. 13. No bonds, notes certificates of indebtedness or other evidence of indebtedness shall be issued by any county, school district, township, municipal corporation or other political subdivision or taxing district for current operating expense, or for the acquisition or construction of any property or improvement having an estimated usefulness of less than five years; but laws may be passed authorizing borrowing for a period not exceeding six months in anticipation of the collection of revenue in and for the current fiscal year in which such indebtedness is incurred, or authorizing indebtedness in anticipation of the levy or collection of special assessments or for defray the expenses of an extraordinary epidemic of disease or emergency expense made necessary by sudden casualty which could not reasonably have been foreseen, or to provide for the payment of final judgments for personal injuries or other non-contractual obligations. No bonds or notes issued for the acquisition or construction of property or improvements shall run for longer than the probable period of usefulness of such property or improvements, to be estimated or determined as provided by laws fixing maximum maturities herein authorized. Laws shall be passed to fix the fiscal years of political subdivisions and taxing districts and to designate the boarder officers by whom and manner in which the estimates as to the period of usefulness of property or improvement shall be made and certified. Within the limitations of this section laws may be passed fixing the maximum maturity of bonds or notes issued for any purposes or class of purposes.
The measure would have amended Article VIII, Section 13 of the Ohio Constitution.
- ↑ Cleveland-Marshall College of Law, "Ohio Constitution: Table of Proposed Amendments," accessed February 6, 2015
- ↑ Ohio Secretary of State, "Amendment and Legislation: Proposed Constitutional Amendments, Initiated Legislation, and Laws Challenged by Referendum, Submitted to the Electors," accessed February 6, 2015
- ↑ State Library of Ohio, "Proposed constitutional amendments, initiated legislation and laws challenged by referendum, submitted to the electors," accessed February 6, 2015
- ↑ Youngstown Vindicator, "Vote Yes on The Debt Limitation and Taxation Amendments," October 29, 1925
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.