Alabama Municipal Bonds Guidelines, Amendment 26 (1965)

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The Alabama Municipal Bonds Guidelines, Amendment 26, also known as Amendment 26, was on the ballot in Alabama on November 30, 1965, as a legislatively referred constitutional amendment. It was approved. The amendment proposed to amend the constitution. The amendment stated the following: "To authorize any municipality in Marion County that has issued or may hereafter issue securities pursuant to the amendment to the constitution proposed by Act No. 1 enacted at the Second Special Session of 1950 of the Legislature of Alabama to issue refunding securities, to invest (under certain conditions) the proceeds from the sale of such securities pending need therefor in certain specified investments, to issue securities for the combined purpose of refunding other such securities and of acquiring, constructing, extending or improving industrial or manufacturing plants or properties, to pledge certain revenues and taxes for payment of any such securities and to mortgage certain properties as security therefor; to provide that any securities issued by a municipality pursuant to said amendment may be general obligations of such municipality or may be limited as to the source of their payment; to provide that revenue bonds issued by a municipality under the provisions of such amendment shall not be considered indebtedness of such municipality for certain constitutional debt limit purposes; to specify and provide a limit upon the amount of indebtedness, other than that evidenced by revenue securities, that a municipality may incur under the provisions of said amendment; to specify that certain securities for which payment has been provided in a certain specified manner shall not be considered indebtedness of such municipality for certain constitutional debt limit pruposes [sic]; to require an election in any such municipality as a condition precedent to its exercise of powers thereunder, except that if a majority of those voting in any such municipality on the question of the adoption of said amendment vote in favor thereof no further election in such municipality shall be required; and to grant to the Legislature the power to adopt laws in furtherance of the purposes of said amendment, notwithstanding any contrary provisions of Section 104 of the Constitution of Alabama."

Election results

Alabama Amendment 26 (1965)
Result		Votes	Percentage
a Yes		70,191	75.26%
No		23,079	24.74%

Election results via: Alabama Official and Statistical Register, 1967

See also

Suggest a link

• Alabama 1965 ballot measures
• 1965 ballot measures
• List of Alabama ballot measures
• History of Initiative & Referendum in Alabama

External links

• Alabama Official and Statistical Register, 1967