Oregon Common School Fund Investments and Revenues, Measure 2 (1988)

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The Oregon Common School Fund Investments and Revenues Amendment, also known as Measure 2, was on the November 8, 1988 ballot in Oregon as a legislatively-referred constitutional amendment, where it was approved. The measure allowed the Common School Fund to be invested in corporate stocks and authorized the State Land Board to apply revenue from Common School Fund investments to pay for managing state lands.[1]

Election results

Oregon Measure 2 (1988)
ResultVotesPercentage
Approveda Yes 621,894 54.91%
No510,69445.09%

Election results via: Oregon Blue Book

Text of measure

The language appeared on the ballot as:[1]

2. COMMON SCHOOL FUND INVESTMENTS; USING INCOME FOR STATE LANDS MANAGEMENT
QUESTION - Shall Oregon Constitution allow Common School Fund investment in stocks, and payment of state lands management expenses from investment income?

EXPLANATION - Constitutional amendment referred by legislature. Allows state to invest Common School Fund moneys in corporate stocks. Allows State Land Board to apply, as it considers appropriate, income from Common School Fund investments to expenses of managing state lands. Requires that remainder of Common School Fund investment income be applied to supporting primary and secondary education as "prescribed by law." Constitution now bans such stock investment and requires use of all investment income for education support.

ESTIMATE OF FINANCIAL EFFECT - In the short run, there will be a slight decrease or leveling off of Common School Fund income being distributed to schools. In the long run, there will be significant gain in income being distributed to schools. It is estimated that by the end of 12 years, the principal of the Common School Fund would grow by over 77% and the distribution to schools would grow by over 16%.

YES □

NO □ [2]

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References

  1. 1.0 1.1 Oregon State Library, "State of Oregon Official Voters' Pamphlet," accessed December 11, 2013
  2. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.