Oregon Bonds for Community Development, Measure 12 (1974)

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The Oregon Bonds for Community Development Amendment, also known as Measure 12, was on the November 5, 1974 ballot in Oregon as a legislatively-referred constitutional amendment, where it was defeated. The measure would have authorized the issuance and sale of bonds to assist cities and counties with community development projects, such as housing, water supplies, streets, lighting and so on.[1]

Election results

Oregon Measure 12 (1974)
ResultVotesPercentage
Defeatedd No376,74757.57%
Yes 277,723 42.43%

Election results via: Oregon Blue Book

Text of measure

The language appeared on the ballot as:[1]

12. COMMUNITY DEVELOPMENT FUND BONDS - Purpose: Constitutional amendment permitting state bonding to assist cities and counties for Community Development Projects (housing, water supplies, streets, lighting, site preparation, etc.). The purpose of this measure is to assist local government in meeting match requirements in order to qualify for federal financing of community development projects. Total bonds cannot exceed 1% of value of taxable property in the state. Bonds are to be financed in manner specified by legislature or otherwise by state property tax.

ESTIMATE OF FINANCIAL EFFECTS: Based on an estimate of Oregon’s 1974 taxable property, this constitutional amendment would establish a maximum bonding limitation of $276 million for the Community Development Fund.

YES □

NO □ [2]

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References

  1. 1.0 1.1 'Oregon State Library, "State of Oregon Official Voters' Pamphlet," accessed December 2, 2013
  2. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.