New York Amendment 1, Contracting, Paying and Refunding Local Debt Amendment (1993)
| New York Amendment 1 | |
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| Election date |
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| Topic Debt limits |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
New York Amendment 1 was on the ballot as a legislatively referred constitutional amendment in New York on November 2, 1993. It was approved.
A "yes" vote supported authorizing localities to issue debts that does not incur annual interest. |
A "no" vote opposed authorizing localities to issue debts that does not incur annual interest. |
Election results
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New York Amendment 1 |
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| Result | Votes | Percentage | ||
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1,210,520 | 53.75% | ||
| No | 1,041,416 | 46.25% | ||
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- Results are officially certified.
- Source
Text of measure
Ballot title
The ballot title for Amendment 1 was as follows:
| “ | The proposed amendment to Section 2 of Article 8 of the State Constitution amends the manner of contracting, paying and refunding debts of any county, city, tow, village or school district. Currently localities or school districts may not contract debt for longer than the period of probable usefuleness of the object or purpose which the debt finances, and must repay such debt in annual installments meeting specific requirements. As alternatives, the proposed amendment authorizes localities and school districts to contract debt for no longer than the weighted average period of probable usefulness of all projects finances by such debt, and to repay their debt with level or declining debt service. The proposed amendment also authorizes localities and school districts to issue debt which does not pay interest annually and provides that when debt is issued at a discount, only the amount recieved would count towards constitutional debt limits. Shall the proposed amendment be approved? | ” |
Path to the ballot
- See also: Amending the New York Constitution
A simple majority vote is required during two successive legislative sessions for the New York State Legislature to place a constitutional amendment on the ballot. That amounts to a minimum of 126 votes in the New York State Assembly and 32 votes in the New York State Senate, assuming no vacancies. Amendments do not require the governor's signature to be referred to the ballot.
See also
External links
Footnotes
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State of New York Albany (capital) |
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