Utah School Fund Investment, Amendment 1 (2002)
Utah Constitutional Amendment 1, also known as the Resolution on Investment of State School Fund and Uniform School Fund, appeared on the November 2002 statewide ballot in Utah, where it passed, with 62.7% in favor. It was one of seven statewide ballot measure that year in Utah. The measure was referred to the ballot by the Utah State Legislature as a new constitutional amendment.
The ballot summary produced by Utah officials described the measure in this way:
"Constitutional Amendment 1 amends the Education Article of the Utah Constitution in two ways. First, it repeals a provision requiring a portion of the interest earnings from the State School Fund to be kept in the Fund as a protection against the effects of inflation. Second, the Amendment provides that dividends from investment of the Fund may be spent for the support of the public education system."
State of Utah
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