Alabama Bonds for Health Care, Amendment 5 (1955)
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The Alabama Bonds for Health Care, Amendment 5, also known as Amendment 5, was on the ballot in Alabama on December 6, 1955, as a legislatively referred constitutional amendment. It was defeated. The amendment proposed to amend the constitution. The amendment proposed that the governor may issue negotiable interest bearing bonds, which would be general obligations of the state of Alabama and the full faith and credit and taxing power of the State are hereby pledged to the punctual payment of the bonds and the interest. The aggregate principal amount of all bonds issued would not exceed $2,000,000 and they would mature within 10 years from the date of issuance.
The proceeds from the sale of such bonds would be appropriated and would be used for the construction and equipping of hospitals, health centers, and related medical facilities pursuant to Act No. 211, General Acts of Alabama 1945, page 330, and approved July 7, 1945; and Act 287, General Acts of Alabama 1945, 474, approved July 7, 1945; and Act No. 46, General and Local Acts 1949, page 68, approved June 2, 1949; and such facilities established and operated by the governing bodies of a city or town, or a county governing body under the provision of Title 22, Section 189, Code of Alabama 1940. The funds provided hereby shall be used only for construction and equipping facilities under contracts which have been or are let on or after July 1, 1955; shall be used to match Federal funds available for hospital, health center, and related medical facilities provided under Public Law 725, 79th Congress and Public Law 482, 83rd Congress, as said Public Laws are now or may hereafter be amended, and that the local governments in the area where each hospital, health center, or related medical facility is to be constructed or equipped shall contribute at least as much money for the construction and equipping as does the state; and provided further that the state would not contribute more than $250,000 to the construction and equipping of any tuberculosis hospital or sanatoria and $100,000 for any other facility included within the scope of this amendment.
In determining where a hospital, health center, or related medical facility to be constructed with funds appropriated would be located, consideration would be given to the communities on the basis of relative need. Each county having no hospital, health center or related medical facility shall have first priority. Counties receiving prior allotments would not be precluded from receiving an additional allotment for other facilities at the discretion of the state board of health. A sum not to exceed $40,000 may be used by the state board of health from the proceeds of the sale of said bonds for administering the provision of this amendment.
All bonds issued and the interest thereon would be payable from any funds in the state treasury not otherwise appropriated. The bonds would be payable in substantially equal installments of principal and interest beginning in the next fiscal year after their date; they shall bear interest at a rate not to exceed 2.5 percent and they shall contain a provision for their call for payment at such a time or times prior to maturity, and at such a premium, if any, as the governor may prescribe in the notice of sale. All bonds issued hereunder shall be sold to the best bidder at an advertised public sale, on sealed bids or at auction, and shall not be sold for less than par and accrued interest; provided, bidders may be invited to name the rate or rates of interest, which the bonds are to bear. The right to reject any or all bids shall be reserved.[1]
Election results
| Alabama Amendment 5 (December 1955) | ||||
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| Result | Votes | Percentage | ||
 No | 178,438 | 74.16% | ||
| Yes | 62,167 | 25.84% | ||
Election results via: Alabama Official and Statistical Register, 1959
See also
- Alabama 1955 ballot measures
- 1955 ballot measures
- List of Alabama ballot measures
- History of Initiative & Referendum in Alabama
External links
Footnotes
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