Florida Amendment 5, Housing Bonds Amendment (1976)
| Florida Amendment 5 | |
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| Election date |
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| Topic Bond issue requirements and Housing development funding |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
Florida Amendment 5 was on the ballot as a legislatively referred constitutional amendment in Florida on November 2, 1976. It was defeated.
A “yes” vote supported allowing for the issuance of bonds for financing or refinancing housing and related facilities. |
A “no” vote opposed allowing for the issuance of bonds for financing or refinancing housing and related facilities. |
Election results
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Florida Amendment 5 |
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| Result | Votes | Percentage | ||
| Yes | 974,184 | 48.77% | ||
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1,023,416 | 51.23% | ||
Text of measure
Ballot title
The ballot title for Amendment 5 was as follows:
| “ | Proposes an amendment to Article VII of the State Constitution to provide a new Section 16 which authorizes the issuance of revenue bonds to finance or refinance housing and related facilities in Florida, secured primarily by pledged revenues at least equal to the annual bond payments. Limiting the bonds which may be outstanding in one fiscal year, to $100,000,000. | ” |
Full Text
The full text of this measure is available here.
Constitutional changes
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Section 16. Bonds for Housing and Related Community Development Facilities. (a) When authorized by law, revenue bonds may be issued without an election to finance or refinance housing and related facilities in Florida (herein referred to as "facilities"). (b) The bonds shall be secured by a pledge of and shall be payable primarily from all or any part of revenues to be derived from the financing, operation or sale of such facilities, mortgage or loan payments, and any other revenues or assets that may be legally available for such purposes derived from sources other than ad valorem taxation, including revenues from other facilities, or any combination thereof (herein collectively referred to as "pledged revenues"). (c) No bonds shall be issued unless a state fiscal agency, created by law, has made a determination that in no state fiscal year will the debt service requirements of the bonds proposed to be issued and all other bonds secured by the same pledged revenues exceed the pledged revenues available for payment of such debt service requirements, as defined by law. (d) The total bonds outstanding shall not exceed $100,000,000 in any one fiscal year. |
Path to the ballot
- See also: Amending the Florida Constitution
A 60% vote was required during one legislative session for the Florida State Legislature to place a constitutional amendment on the ballot. That amounted to a minimum of 51 votes in the Florida House of Representatives and 18 votes in the Florida State Senate, assuming no vacancies. Amendments did not require the governor's signature to be referred to the ballot. Amendments on the ballot required a simple majority vote in this year.
See also
External links
Footnotes
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State of Florida Tallahassee (capital) |
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