Alabama State Education Bonds, Amendment 2 (1955)

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The Alabama State Education Bonds, Amendment 2, also known as Amendment 2, 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 state would be authorized to become indebted for school building purposes, the state would sell and issue, in addition to all other bonds, interest bearing general obligation bonds of the state not exceeding $110,000,000 in principal amount. The proceeds of all such bonds shall, after payment of the expenses, be distributed as follows: 76.9 percent would be allocated and distributed to county and city school systems on a teacher unit basis in accordance with the minimum school program, to be sent in accordance with regulations of the State Board of Education and statutes governing school building construction; 6.3 percent would be allocated and paid to The Board of Trustees of the University of Alabama; 6.3 percent would be allocated and paid to the Alabama Polytechnic Institute; 0.5 percent would be allocated and paid to Alabama College; 5.9 percent would be expended on the state institutions of higher learning under the state board of education, including Alabama Agricultural and Mechanical College, Alabama State College, and the State Teachers' Colleges; 2.7 percent would be expended on trade schools; 0.5 percent would be allocated and paid to The Board of Trustees of the University of Alabama for the construction of facilities for mental health education; 0.9 percent would be allocated and paid to the Alabama Institute for Deaf and Blind. All of said proceeds so allocated and expended shall be used solely for the acquisition of school and college building sites, for the construction, reconstruction, alteration, and improvement of school and college building facilities, including renewal and replacement of structural parts, and for the procurement of equipment for school and college buildings.

The legislature shall adopt appropriate enabling legislation to carry out the intent of this constitutional amendment; and shall provide that all bonds issued under this amendment shall be sold only at public sale and none thereof shall be sold for less than the face value thereof.

All bonds issued under this amendment shall be direct general obligations of the State of Alabama, and for the prompt and faithful payment of the principal thereof and interest thereon the full faith and credit of the State are hereby irrevocably pledged. In addition, there is hereby specially and irrevocably pledged for payment of the principal of and interest on all bonds issued hereunder, pro rata and without priority of one bond over another, by reason of prior issuance or otherwise, so much as may be necessary for said purpose of that portion of the proceeds of all state taxes, except the income tax, that is required by law, at the effective date of this amendment, to be paid into the Alabama Special Educational Trust Fund. The pledge herein made shall create a charge on the tax proceeds herein specially pledged prior to all other charges or expenses for educational or any other purposes whatsoever. All bonds issued under this amendment and the income therefrom shall be exempt from all taxation in the State of Alabama. The provisions of Section 261 of the constitution of Alabama shall not be deemed to apply to the tax proceeds pledged herein nor to the proceeds from any bonds issued hereunder.

Election results

Alabama Amendment 2 (December 1955)
Result		Votes	Percentage
d No		258,160	78.44%
Yes		70,961	21.56%

Election results via: Alabama Official and Statistical Register, 1959

See also

Suggest a link

• Alabama 1955 ballot measures
• 1955 ballot measures
• List of Alabama ballot measures
• History of Initiative & Referendum in Alabama

External links

• Alabama Official and Statistical Register, 1959