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Alabama General Obligation Bond Amendment, Amendment 2 (2012)
| Amendment 2 | |
|---|---|
 | |
| Type | Constitutional amendment |
| Origin | Alabama Legislature |
| Topic | Bond issues |
| Status | Approved  |
An Alabama General Obligation Bond Amendment, also known as Amendment 2 was on the November 6, 2012 ballot in the state of Alabama as a legislatively referred constitutional amendment, where it was approved. The measure aimed to allow the state to issue general obligation bonds of no more than $750 million. According to the text of the measure, the proposal was sent to the ballot during the 2012 state legislative session.[1]
Election results
- See also: 2012 ballot measure election results
The following are official election results:
| Alabama Amendment 2 | ||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
| Yes | 1,145,034 | 69.42% | ||
| No | 504,610 | 30.58% | ||
Results via the Alabama Secretary of State's website.
Text of measure
The ballot language that voters saw read as follows:[2]
| “ | Proposing an amendment to the Constitution of Alabama of 1901, as amended, to allow issuance by the State from time to time of general obligation bonds under the authority of Section 219.04 and Section 219.041 to the Constitution of Alabama of 1901, as amended, so long as the aggregate principal amount of all such general obligation bonds at any time outstanding is not in excess of $750 million. This amendment would replace the maximum aggregate principal limitations currently contained in said Sections 219.04 and 219.041. The proposed amendment would also allow issuance by the State of general obligation refunding bonds under the authority of Sections 219.04 and 219.041 to the Constitution of Alabama of 1901, as amended, subject to certain minimum savings thresholds and limitations of maximum average maturity. (Proposed by Act 2012-567)
Yes ( ) No ( )[3] |
” |
Changes to the Alabama Constitution
The passing of Alabama General Obligation Bond Amendment, Amendment 2 added Amendment 880 to the Alabama Constitution.
Support
- The main sponsor of the measure was State Representative Jay Love.[4]
- Alabama Governor Robert Bentley stated support for the measure.[5]
- Bentley stated in a column published by the Birmingham News, "Passage of Amendment 2 will allow the state to provide financial incentives that will attract new companies while also helping existing companies expand and hire more Alabamians. Amendment 2 will help us accomplish this without raising taxes, without increasing the state's debt limit and without increasing the size of state government."[6]
Opposition
No formal opposition was identified by Ballotpedia.
Campaign contributions
No campaign contributions were made in favor or opposition of the measure, according to state election websites.[7]
Media endorsements
- The Birmingham News stated at the time of the measure's legislative approval, "This November's general election ballot will have at least one proposed constitutional amendment deserving of approval...The Legislature in the closing hours of its special session last week approved a proposed constitutional amendment that rewrites the rules for a state commission that can sell up to $750 million in bonds to help land big economic-development projects. The amendment would make a common-sense change that would help give the state money it needs to lure businesses and jobs to Alabama."[8]
Path to the ballot
Article XVIII of the Alabama Constitution says that it takes a three-fifths (60%) vote of the Alabama State Legislature to qualify an amendment for the ballot.
See also
External links
Footnotes
- ↑ Alabama Secretary of State, "Act Number 2012-567," accessed June 11, 2012
- ↑ Alabama Secretary of State, "Certification of proposed constitutional amendments," accessed October 4, 2012
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
- ↑ Alabama Secretary of State, "House Bill 12," accessed September 17, 2012
- ↑ The Republic, "Alabama Gov. Bentley makes case for Amendment 2; says it will help draw industry, create jobs," September 28, 2012
- ↑ Birmingham News, "Passage of Amendment 2 critical to attracting industry to Alabama (Opinion)," October 17, 2012
- ↑ Alabama Secretary of State, "FCPA Reports," accessed November 26, 2012
- ↑ Alabama.com, "OUR VIEW: Proposed constitutional amendment would help state's industrial recruiting efforts," May 30, 2012
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State of Alabama Montgomery (capital) |
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