Oklahoma School District Bonds for Safety Facilities Amendment (2014)

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The Oklahoma School District Bonds for Safety Facilities Amendment is not on the November 4, 2014 ballot in Oklahoma as a legislatively-referred constitutional amendment. The measure, upon voter approval, would have authorized school districts to issue bonds to pay for personal safety facilities. The amendment would have required bond issuance to be approved by a three-fifths majority of voters in a school district. A school district would have been able to vote and approve this type of bond issue one time only and before November 4, 2019. The bonds would have been required to be repaid within twenty-five years.[1]

Text of measure

Ballot title

The proposed ballot question read as follows:[2]

BALLOT TITLE
Legislative Referendum No. _____ State Question No. _____

THE GIST OF THE PROPOSITION IS AS FOLLOWS:

This measure amends the Oklahoma Constitution. It amends Section 26 of Article 10. School districts could issue bonds or other obligations to pay for personal safety facilities. The bonds would have to be approved by three-fifths (3/5) of the voters of the school district. The amount of debt for these bonds would be counted in the total debt that a school district is allowed to incur; however, if a school district voted to approve these bonds, even if the bonds would be in excess of the maximum amount of debt, the district could still issue these bonds. Once these bonds were issued, the school district would have to reduce its total debt below ten percent (10%) of its net assessed value in order to issue any additional debt. The bonds would have to be repaid within twenty-five (25) years. The annual sinking fund millage rate would be determined each year in order to repay the principal, interest and other costs for the bonds. A school district would only be allowed to vote on this type of bond issue one time. A school district would have to approve this type of bond issue not later than November 4, 2019.

SHALL THE PROPOSAL BE APPROVED?

FOR THE PROPOSAL — YES _____________

AGAINST THE PROPOSAL — NO _____________ [3]

Path to the ballot

See also: Amending the Oklahoma Constitution

A simple majority vote was required in both chambers of the Oklahoma Legislature in order to place the proposed constitutional amendment on the ballot. However, the measure expired in the legislature.[4]

See also

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References

  1. Oklahoma Legislature, "Engrossed Joint Resolution No. 1092," accessed April 25, 2014
  2. Cite error: Invalid <ref> tag; no text was provided for refs named bill
  3. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
  4. OpenStates.org, "HJR 1092, Oklahoma House Joint Resolution," accessed July 25, 2014