Oklahoma Reserve Fund Amendment, State Question 764 (2012)
|State Question 764|
|Referred by:||Oklahoma State Legislature|
- See also: 2012 ballot measure election results
The following are official election results
|Oklahoma State Question 764|
These results are from the Oklahoma State Elections Board.
Text of the measures
The following is the ballot language that appeared on the ballot:
|“|| This measure amends the Oklahoma Constitution. It adds a new Section 39A to Article 10. It would allow the Oklahoma Water Resources Board to issue bonds. Any bonds issued would be used to provide a reserve fund for the Board. The fund would be a reserve fund for certain water resource and sewage treatment funding programs. The fund could only be used to pay other bonds and obligations for the funding programs. The bonds could only be issued after other monies and sources are used for repayment. The bonds would be general obligation bonds. Not more than Three Hundred Million Dollars worth of bonds could be issued. The Legislature would provide the monies to pay for the bonds. The Legislature would provide for methods for issuing the bonds. The Legislature would provide for how the fund is administered.
Shall the proposal be approved?
For the proposal - Yes
Against the proposal - No
- The main campaign in favor of the measure was Yes on 764.
- According to the Yes on 764 campaign's website, "A YES vote on State Question 764 helps protect one of our state's most precious natural resources - water. This November, Oklahomans will have an opportunity to enhance financial assistance programs that provide affordable loans to communities for drinking water and wastewater infrastructure projects."
- According to the blog of State Representative Jason Murphey, "State Question 764 issues up to 300 million dollars of new debt. I opposed this proposal. The state already has billions of dollars of debt on the books and regardless of the merits of the projects, the insanity has to stop at some point."
Path to the ballot
The Oklahoma State Legislature can approve a proposed amendment by a majority vote. However, if the state legislature wants the proposed amendment to go on a special election ballot, it has to approve the amendment by a 2/3rds vote.