California Proposition 9, General Obligation Bond Proceeds Fund Amendment (1962)
| California Proposition 9 | |
|---|---|
 | |
| Election date November 6, 1962 | |
| Topic Bond issues | |
Status Approved | |
| Type Constitutional amendment | Origin State legislature |
California Proposition 9 was on the ballot as a legislatively referred constitutional amendment in California on November 6, 1962. It was approved.
A “yes” vote supported creating a General Obligation Bond Proceeds Fund for bond repayments to be paid into, requiring separate accounts in this fund for each bond issue, and allowing the legislature to eliminate any general bond fund in the state treasury if the funds are transferred to the General Obligation Bond Proceeds Fund. |
A “no” vote opposed creating a General Obligation Bond Proceeds Fund for bond repayments to be paid into, requiring separate accounts in this fund for each bond issue, and allowing the legislature to eliminate any general bond fund in the state treasury if the funds are transferred to the General Obligation Bond Proceeds Fund. |
Election results
|
California Proposition 9 |
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|---|---|---|---|---|
| Result | Votes | Percentage | ||
|
|
2,706,966 | 63.92% | ||
| No | 1,527,664 | 36.08% | ||
Text of measure
Ballot title
The ballot title for Proposition 9 was as follows:
| “ | General Obligation Bonds | ” |
Ballot summary
The ballot summary for this measure was:
| “ | Assembly Constitutional Amendment No. 40. Authorizes Legislature to establish "General Obligation Bond Proceeds Fund" and to place proceeds of all general obligation bond issues in said fund. Requires separate account for proceeds of each issue and permits payment only in accordance with law authorizing the issuance. Authorizes Legislature to abolish any general bond fund in the State Treasury if transferred into "General Obligation Bond Proceeds Fund" and it may later re-establish such fund. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
- See also: Amending the California Constitution
A two-thirds vote was needed in each chamber of the California State Legislature to refer the constitutional amendment to the ballot for voter consideration.
See also
External links
Footnotes
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State of California Sacramento (capital) |
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