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Oregon Water Development Fund, Measure 1 (1977)

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The Oregon Water Development Fund Amendment, also known as Measure 1, was on the November 8, 1977 ballot in Oregon as a legislatively-referred constitutional amendment, where it was approved. The measure permitted state bonded indebtedness, limited to 1.5% true cash value of property within the state, to create the Water Development Fund to finance loans for water development projects.[1]

Election results

Oregon Measure 1 (1977)
ResultVotesPercentage
Approveda Yes 124,484 51.14%
No118,95348.86%

Election results via: Oregon Blue Book

Text of measure

The language appeared on the ballot as:[1]

This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.

1. WATER DEVELOPMENT LOAN FUND CREATED
Purpose: Proposed constitutional amendment permits state bonded indebtedness, limited to one and one half percent true cash value of property in state, to create Water Development Fund. Fund would finance loans for irrigation and drainage projects and water development projects. Secured repayment required. Bonds to be repaid by loan repayment, or, if repayments inadequate, by ad valorem tax levied on all taxable property, or by supplementary or replacement revenue provided by Legislature. Enabling legislation required.

ESTIMATE OF FINANCIAL EFFECTS: Based on an estimate of Oregon’s 1978 taxable property this constitutional amendment would establish a maximum bonding limitation of $658.5 million to provide for the Water Development Fund.

YES □

NO □

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