Difference between revisions of "Alabama General Obligation Bond Amendment, Amendment 2 (2012)"

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  referred  = [[Alabama Legislature]]|
 
  referred  = [[Alabama Legislature]]|
 
  topic = [[:Category:Certified, bond issues, 2012|Bond issues]]|
 
  topic = [[:Category:Certified, bond issues, 2012|Bond issues]]|
  status = On the ballot |
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  status = Approved {{approved}} |
}}{{tnr}}An '''Alabama General Obligation Bond Amendment''', also known as '''Amendment 2''' will appear on the [[Alabama 2012 ballot measures|November 6, 2012 ballot]] in the state of [[Alabama]] as a {{lrcafull}}.  The measure aims 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 [[Dates of 2012 state legislative sessions|2012 state legislative session]].<ref> [http://arc-sos.state.al.us/PAC/SOSACPDF.001/A0009583.PDF ''Alabama Secretary of State'', "Act Number 2012-567", Retrieved June 11, 2012]</ref>
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}}{{tnr}}An '''Alabama General Obligation Bond Amendment''', also known as '''Amendment 2''' was on the [[Alabama 2012 ballot measures|November 6, 2012 ballot]] in the state of [[Alabama]] as a {{lrcafull}}, 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 [[Dates of 2012 state legislative sessions|2012 state legislative session]].<ref> [http://arc-sos.state.al.us/PAC/SOSACPDF.001/A0009583.PDF ''Alabama Secretary of State'', "Act Number 2012-567", Retrieved June 11, 2012]</ref>
 
==Election results==
 
==Election results==
 
:: ''See also: [[2012 ballot measure election results]]''
 
:: ''See also: [[2012 ballot measure election results]]''
''LIVE election results will be posted when polls close on November 6, 2012 and when numbers start to roll in.''
+
The following are '''official''' election results:
  
 
{{Short outcome
 
{{Short outcome
 
| title = Alabama Amendment 2
 
| title = Alabama Amendment 2
| yes = 784,044
+
| yes = 1,145,034
| yespct = 69.34
+
| yespct = 69.42
| no = 346,636
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| no = 504,610
| nopct = 30.66
+
| nopct = 30.58
 
| image = {{approved}}
 
| image = {{approved}}
 
| unresolved =  
 
| unresolved =  
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[[Category:Approved, general, 2012]]
 
[[Category:Approved, general, 2012]]
  
'''32 out of 67 precincts reporting'''
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Results via the [http://www.sos.state.al.us/downloads/election/2012/general/2012GeneralResults-AllStateAndFederalOfficesAndAmendments-WithWrite-inAppendix.pdf Alabama Secretary of State]'s website.
 
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Results via the [http://www.sos.alabama.gov/elections/electionResults.aspx Alabama Secretary of State]'s website.
+
  
 
==Text of measure==
 
==Text of measure==
The ballot language that voters will see reads as follows:<ref> [http://www.sos.state.al.us/downloads/election/2012/general/statecert-amendments-last-revised-2012-08-14.pdf ''Alabama Secretary of State'', "Certification of proposed constitutional amendments", Retrieved October 4, 2012]</ref>
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The ballot language that voters saw read as follows:<ref> [http://www.sos.state.al.us/downloads/election/2012/general/statecert-amendments-last-revised-2012-08-14.pdf ''Alabama Secretary of State'', "Certification of proposed constitutional amendments", Retrieved October 4, 2012]</ref>
  
 
{{quote|''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)''
 
{{quote|''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)''
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''Yes ( )''
 
''Yes ( )''
 
''No ( )''}}
 
''No ( )''}}
 
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===Changes to the Alabama Constitution===
 +
The passing of ''Alabama General Obligation Bond Amendment, Amendment 2'' added [[Amendments 501 through 880, Alabama Constitution#Amendment 880|Amendment 880]] to the [[Alabama Constitution]].
 
==Support==
 
==Support==
 
* The main sponsor of the measure was [[Alabama House of Representatives|State Representative]] [[Jay Love]].<ref> [http://arc-sos.state.al.us/PAC/SOSACPDF.001/A0009583.PDF ''Alabama Secretary of State'', "House Bill 12", Retrieved September 17, 2012]</ref>
 
* The main sponsor of the measure was [[Alabama House of Representatives|State Representative]] [[Jay Love]].<ref> [http://arc-sos.state.al.us/PAC/SOSACPDF.001/A0009583.PDF ''Alabama Secretary of State'', "House Bill 12", Retrieved September 17, 2012]</ref>
* [[Alabama Governor]] [[Robert Bentley]] has stated support for the measure.<ref> [http://www.therepublic.com/view/story/2a631d57169244d580fd380fed908ca0/AL--Governor-Road-Builders ''The Republic'', "Alabama Gov. Bentley makes case for Amendment 2; says it will help draw industry, create jobs", September 28, 2012]</ref>
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* [[Alabama Governor]] [[Robert Bentley]] stated support for the measure.<ref> [http://www.therepublic.com/view/story/2a631d57169244d580fd380fed908ca0/AL--Governor-Road-Builders ''The Republic'', "Alabama Gov. Bentley makes case for Amendment 2; says it will help draw industry, create jobs", September 28, 2012]</ref>
 
** 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."<ref> [http://blog.al.com/press-register-commentary/2012/10/passage_of_amendment_2_critica.html ''Birmingham News'', "Passage of Amendment 2 critical to attracting industry to Alabama (Opinion)", October 17, 2012]</ref>
 
** 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."<ref> [http://blog.al.com/press-register-commentary/2012/10/passage_of_amendment_2_critica.html ''Birmingham News'', "Passage of Amendment 2 critical to attracting industry to Alabama (Opinion)", October 17, 2012]</ref>
  
 
==Opposition==
 
==Opposition==
''No opposition has been identified yet.''
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''No formal opposition was identified by Ballotpedia.''
 +
 
 +
==Campaign contributions==
 +
 
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''No campaign contributions were made in favor or opposition of the measure, according to state election websites.''<ref> [http://arc-sos.state.al.us/cgi/elcname.mbr/input ''Alabama Secretary of State'', "FCPA Reports", Retrieved November 26, 2012]</ref>
  
 
==Media endorsements==
 
==Media endorsements==
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[[Category:Certified, bond issues, 2012]]
 
[[Category:Certified, bond issues, 2012]]
 
{{certrefca2012}}
 
{{certrefca2012}}
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Revision as of 12:48, 22 January 2014

Amendment 2
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Type:Constitutional amendment
Constitution:Alabama Constitution
Referred by:Alabama Legislature
Topic:Bond issues
Status:Approved Approveda
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
ResultVotesPercentage
Approveda Yes 1,145,034 69.42%
No504,61030.58%

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

References