Oregon Measure 52
was on the November 4, 1997 ballot
as a legislatively-referred state statute
placed on the ballot by the Oregon State Legislature
, where it was approved.
Measure 52's ballot title was "Authorizes State Lottery Bond Program to Finance Public School Projects."
| Oregon Measure 52|
| Yes|| 805,742|| 73.3%|
The official ballot summary of Measure 52 prepared by the Oregon Attorney General's office said, "Measure authorizes legislation establishing revenue bond program to finance "state education projects" for public schools. "State education projects" means projects to acquire, construct, improve, remodel, maintain, repair public school facilities, including land, building costs; computer, telecommunications equipment; books, furniture, furnishings, vehicles, planning costs. State repays bond debt using unobligated net lottery proceeds, earnings on Education Endowment Fund, other moneys appropriated by legislature. Net proceeds of bonds limited to $150 million. Implementing legislation, already enacted contingent on measure's passage, appropriates funding only for school district projects."
The state's official estimated fiscal impact statement for Measure 52 said, "The measure authorizes the sale of Lottery-backed revenue bonds with a principal sum of up to $150 million, plus an amount equal to bond issuance costs and reserves. The proceeds are to be used for the acquisition, construction, improvement, remodeling or repair of public school facilities throughout Oregon and the purchase of telecommunications equipment, computers, software and related technology, books, furniture and vehicles. The bonds, plus interest, will be repaid through a Lottery revenue allocation of approximately $15 million per year beginning in fiscal year 2000. If issued at recent interest rates and a 15 year pay back period, total interest costs are estimated at $71.4 million."