Oklahoma Economic Development Bonds, State Question 693 (2002)

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The Oklahoma Economic Development Bonds Amendment, also known as State Question 693, was on the November 5, 2002 ballot in Oklahoma as a legislatively-referred constitutional amendment, where it was approved. The measure allowed local governments to issue bonds for economic development and to levy a special sales tax of no more than one cent to repay the bonds.[1]

Election results

Oklahoma State Question 693 (2002)
ResultVotesPercentage
Approveda Yes 489,883 51.34%
No464,24848.66%

Election results via: Oklahoma Secretary of State

Text of measure

Ballot title

The official ballot title appeared as:[2]

This measure amends the Oklahoma Constitution. It amends Section 35 of Article 10. The amendment allows local governments to issue bonds for economic or community development. Voter approval would be required to issue bonds. Local governments could pass a special sales tax to repay the bonds. The tax rate could not be more than one cent ($0.01).

The tax could not be repealed until the bonds were repaid. When not needed for bond repayment the tax could be suspended.

This measure would also allow regional economic development districts to be created by laws. The districts could issue bonds. The procedures by which regional economic development district bonds could be issued may be specified by the Legislature. [3]

Full text

The full text of the measure can be read here.

See also

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Suggest a link

External links

References

  1. Oklahoma Secretary of State, "State Questions," accessed November 25, 2014
  2. Oklahoma Secretary of State, "State Question 693," accessed November 25, 2014
  3. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributed to the original source.