Michigan Proposal E, Veterans Bond Measure (1972)
| Michigan Proposal E | |
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| Election date |
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| Topic Bond issues and Veterans policy |
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| Status |
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| Type Bond issue |
Origin |
Michigan Proposal E was on the ballot as a bond issue in Michigan on November 7, 1972. It was defeated.
A “yes” vote supported allowing the state to issue bonds to fund tuition payments and services bonuses for veterans. |
A “no” vote opposed allowing the state to issue bonds to fund tuition payments and services bonuses for veterans. |
Election results
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Michigan Proposal E |
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| Result | Votes | Percentage | ||
| Yes | 1,490,968 | 48.19% | ||
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1,603,203 | 51.81% | ||
Text of measure
Ballot title
The ballot title for Proposal E was as follows:
| “ | PROPOSAL E PROPOSAL TO ALLOW THE STATE TO BORROW $266,000,000.00 FOR TUITION PAYMENTS AND BONUSES TO VIETNAM AND OTHER VETERANS. The proposal wourd allow the State of Michigan to borrow the sum of $266,000,000.00 to provide veterans of the Vietnam and other conflicts with tuition payments to educational institutions or a service bonus. The state shall issue general obligation bonds of the state to secure the said amount and shall pledge the full faith and credit of the state for the pay-ment of principal and interest.The method of repayment shall be from the general fund of the state. Should this proposal be approved? YES NO | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
In Michigan, voter approval is required for state bond issues that exceed 15% of undedicated revenues.
A two-thirds vote is required during one legislative session for the Michigan State Legislature to place a bond issue on the ballot. That amounts to a minimum of 74 votes in the Michigan House of Representatives and 14 votes in the Michigan State Senate, assuming no vacancies. State bond issues require the governor's signature to be referred to the ballot.
See also
External links
Footnotes
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State of Michigan Lansing (capital) |
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