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Arizona Proposition 102, Investment of State Trust Funds Amendment (1998)
| Arizona Proposition 102 | |
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| Election date |
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| Topic Administration of government |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
Arizona Proposition 102 was on the ballot as a legislatively referred constitutional amendment in Arizona on November 3, 1998. It was approved.
A "yes" vote supported permitting the investment of State Trust funds in equity securities, requiring investment according to “the prudent investor rule,” and permitting payments from the permanent funds to designated state institutions. |
A "no" vote opposed permitting the investment of State Trust funds in equity securities, requiring investment according to “the prudent investor rule,” and permitting payments from the permanent funds to designated state institutions. |
Election results
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Arizona Proposition 102 |
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| Result | Votes | Percentage | ||
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488,711 | 53.33% | ||
| No | 427,665 | 46.67% | ||
Text of measure
Ballot title
The ballot title for Proposition 102 was as follows:
| “ | REQUESTING THE SECRETARY OF STATE TO RETURN SENATE CONCURRENT RESOLUTION 1018, FORTY-THIRD LEGISLATURE, FIRST REGULAR SESSION, TO THE LEGISLATURE AND SUBMIT THE PROPOSITION CONTAINED IN SECTIONS 3, 4 AND 5 OF THIS RESOLUTION OF THE PROPOSED AMENDMENTS TO ARTICLE IX, SECTION 7, ARTICLE X, SECTION 7 AND ARTICLE XI, SECTION 8, CONSTITUTION OF ARIZONA, TO THE VOTERS; RELATING TO INVESTMENT OF STATE MONIES. | ” |
Ballot summary
The ballot summary for this measure was:
| “ | AMENDING ARIZONA CONSTITUTION TO EXPAND INVESTMENT OPTIONS FOR STATE TRUST FUNDS, ALLOWING INVESTMENT IN EQUITY SECURITIES, SUCH AS STOCKS. BOARD OF INVESTMENTS WOULD MANAGE FUNDS UNDER CONDITIONS SET OUT IN CONSTITUTION; REQUIRING INVESTMENT ACCORDING TO THE "PRUDENT INVESTOR RULE"; PERMITTING CERTAIN PAYMENTS OUT OF PERMANENT FUNDS TO DESIGNATED STATE INSTITUTIONS. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
- See also: Amending the Arizona Constitution
A simple majority vote was needed in each chamber of the Arizona State Legislature to refer the constitutional amendment to the ballot for voter consideration.
See also
External links
Footnotes
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State of Arizona Phoenix (capital) |
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