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California Proposition 15, Public Money Deposits Initiative (1914)
| California Proposition 15 | |
|---|---|
 | |
| Election date November 3, 1914 | |
| Topic Bond issues | |
Status Defeated | |
| Type Constitutional amendment | Origin Citizens |
California Proposition 15 was on the ballot as an initiated constitutional amendment in California on November 3, 1914. It was defeated.
A “yes” vote supported authorizing banks where public moneys are deposited to furnish bonds of districts within municipalities as security. |
A “no” vote opposed authorizing banks where public moneys are deposited to furnish bonds of districts within municipalities as security. |
Election results
|
California Proposition 15 |
||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
| Yes | 236,573 | 42.16% | ||
|
|
324,558 | 57.84% | ||
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- Results are officially certified.
- Source
Text of measure
Ballot title
The ballot title for Proposition 15 was as follows:
| “ | Deposit of Public Moneys | ” |
Ballot summary
The ballot summary for this measure was:
| “ | Initiative amendment to section 16 ½ of article XI of constitution. Present section unchanged Except in following particulars: Authorizes banks in which public moneys are deposited to furnish, as security, bonds of districts within municipalities or of a corporation qualified to act as sole surety on bonds or undertakings, to an amount in value, or with a penalty, of at least ten per cent over amount of deposit; provides that no deposit under section shall exceed at any time fifty per cent of paid up capital and surplus of depository bank. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
In California, the number of signatures required for an initiated constitutional amendment is equal to 8 percent of the votes cast at the preceding gubernatorial election. For initiated amendments filed in 1914, at least 30,858 valid signatures were required.
See also
External links
Footnotes
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State of California Sacramento (capital) |
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