Arkansas Authorization of Non-Elected Revenue Bonds, Proposed Amendment 67 (1986)
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The Arkansas Authorization of Non-Elected Revenue Bonds Proposed Amendment, also known as Proposed Amendment 67, was on the ballot in Arkansas on November 4, 1986, as an initiated constitutional amendment. It was approved. The measure authorized governmental units to issue revenue bonds for capital improvements of public facilities without voter approval during an election.[1][2]
Election results
| Arkansas Proposed Amendment 67 (1986) | ||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
 Yes | 318,920 | 53.62% | ||
| No | 275,888 | 46.38% | ||
Election results via: Arkansas Secretary of State
Text of measure
The question on the ballot:
| A proposed amendment to the Constitution of the state of Arkansas authorizing any governmental unit to issue revenue bonds for the purpose of financing all or part of the costs of capital improvements of a public nature, facilities for the securing and developing of industry or agriculture, and for such other purposes as may be authorized by the general assembly, and providing that such bonds may bear such terms, be issued in such manner, and be subject to such conditions which may or may not include an election, all as may be authorized by the general assembly: provided, however, (i) no revenue bonds shall be issued by or on behalf of any governmental unit if the primary purpose of the bonds is to loan the proceeds of the bands, or to lease or sell the faculties financed with the proceeds of the bonds, to one or more private business users for shopping centers or other establishments engaged in the sale of food or goods at retail, and (ii) no revenue bonds shall be issued by any governmental unit without an election if the primary purpose of the bonds is to loan the proceeds of the bonds, or to lease or sell the facilities financed with the proceeds of the bonds, to one or more private business users for hotels or motels, rental or professional office buildings or facilities for recreation or entertainment. Defining the term "revenue bonds" to mean all bonds or other obligations the repayment of which is secured by rents, user fees, charges, or other revenues derived from any special fund or source other than assessments for local improvements and taxes: defining the "governmental unit" to mean the state of Arkansas, any county, municipality, or other political subdivision of the state of Arkansas, any special assessment or taxing district established under the laws of the state of Arkansas, and any agency or instrumentality of any of the foregoing: providing that this amendment shall be the sole authority required for the issuance of revenue bonds (except that the rate of interest on such bonds shall be subject to the provisions of Amendment No. 60 to the Constitution of the state of Arkansas); providing that all laws or constitutional provisions which conflict with this amendment are repealed to the extent of such conflict; and providing that this amendment shall take effect upon its adoption, and the provisions of this amendment shall be self-executing.[2][3] |
See also
- Arkansas 1986 ballot measures
- 1986 ballot measures
- List of Arkansas ballot measures
- History of Initiative & Referendum in Arkansas
External links
Footnotes
- ↑ Arkansas Secretary of State, "Initiatives and Amendments 1938-2010," accessed August 27, 2015
- ↑ 2.0 2.1 Inter-university Consortium for Political and Social Research, "Referenda Elections for Arkansas," accessed August 27, 2015
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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State of Arkansas Little Rock (capital) |
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