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Oregon War Veterans' Loans, Measure 13 (1960)

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The Oregon War Veterans' Loans Amendment, also known as Measure 13, was on the November 8, 1960 ballot in Oregon as a legislatively-referred constitutional amendment, where it was approved. The measure based the bonding limits for war veterans’ loans on three percent true cash value of all property within the state. Prior, the limits were based on four percent assessed valuation of all property within the state.[1]

Election results

Oregon Measure 13 (1960)
ResultVotesPercentage
Approveda Yes 415,931 60.94%
No266,63039.06%

Election results via: Oregon Blue Book

Text of measure

The language appeared on the ballot as:[1]

13. WAR VETERANS' BONDING AND LOAN AMENDMENT - Purpose: Amends constitutional bonding limits for war veterans’ loans from four percent assessed valuation to three percent true cash value of all property in the state.

ESTIMATE OF INCREASED INDEBTEDNESS: The Constitution of Oregon now authorizes the borrowing on the credit of the State of approximately $150,000,000 for farm and home loans to veterans. This amendment would increase the total authorized to approximately $285,000,000. Interest on the additional $135,000,000 would be approximately $34,000 per annum on each $1,000,000 needed. Loan repayments by veterans are expected to be adequate to pay the interest and retire any state bonds issued under the proposed authorization.)

YES □

NO □ [2]

Support

Supporters

  • State Senator William A. Grenfell, Jr.[1]
  • State Representative Tom Monaghan
  • State Representative Raphael R. Raymond

See also

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References

  1. 1.0 1.1 1.2 Oregon State Library, "State of Oregon Official Voters' Pamphlet," accessed November 26, 2013
  2. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.