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Arkansas Short-Term Financing, Amendment 1 (1998)

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Arkansas Constitution
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Arkansas Amendment 1, also known as the City and County Government Short-Term Financing Amendment was on the November 3, 1998 election ballot in Arkansas as a legislatively-referred constitutional amendment, where it was defeated.[1]

Election results

Short-Term Financing
Defeatedd No306,67152%
Yes 283,030 48%

Text of measure

The language that appeared on the ballot:

Provides that municipalities and counties may incur short-term financing obligations having a term not to exceed five years and bearing interest at either a fixed or variable rate, for the purpose of acquiring, constructing, installing or renting real property or tangible personal property having an expected useful life of more than one year.

See also

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