Oregon War Veterans' Fund Bonding Limits, Measure 5 (1970)
The Oregon War Veterans' Fund Bonding Limits Amendment, also known as Measure 5, was on the November 3, 1970 ballot in Oregon as a legislatively-referred constitutional amendment, where it was approved. The measure increased bonding limits for the Oregon War Veterans’ Fund from 3% to 4% of the true cash value of all property within the state.
|Oregon Measure 5 (1970)|
Election results via: Oregon Blue Book
Text of measure
The language appeared on the ballot as:
This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.
5. VETERANS' LOAN AMENDMENT - Purpose: Amends Oregon Constitution to increase bonding limits for the Oregon War Veterans’ Fund from 3% to 4% of the true cash value of all property in the state. This fund is financed by bonds issued by the state, the proceeds of which are loaned to eligible veterans for farm and home purchases.
“ESTIMATE OF FISCAL EFFECTS: This amendment would increase the bonding limits of the Oregon War Veterans fund from 3% to 4% of the true cash value of all property in the State and thus provide in 1971 an estimated $180 million in additional bonding capacity. These additional funds would enable the eligible veterans to receive loans for farm and home purchases. The loan repayments by the veterans are expected to be adequate to pay the interest and retire any state bonds issued under the proposed amendment."
- State Senator W.H. Holmstrom
- State Representative Doug Graham
- State Representative Norman R. Howard
- Oregon 1970 ballot measures
- 1970 ballot measures
- List of Oregon ballot measures
- History of Initiative & Referendum in Oregon
- Oregon Blue Book Initiative, Referendum and Recall: 1958-1970
- Oregon State Constitution
- State of Oregon Official Voters' Pamphlet 1970
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