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Oklahoma State Question 362, Investment of Permanent School Funds Amendment (July 1954)
| Oklahoma State Question 362 | |
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| Topic State and local government budgets, spending, and finance and Veterans policy |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
Oklahoma State Question 362 was on the ballot as a legislatively referred constitutional amendment in Oklahoma on July 6, 1954. It was approved.
A "yes" vote supported allowing permanent common school and educational funds to be invested in first mortgage loans at 3% annual interest for honorably discharged veterans of World War I, World War II, the Korean War, or future wars, with loans up to 93.5% of the land's reasonable value. |
A "no" vote opposed allowing permanent common school and educational funds to be invested in first mortgage loans at 3% annual interest for honorably discharged veterans of World War I, World War II, the Korean War, or future wars, with loans up to 93.5% of the land's reasonable value. |
Election results
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Oklahoma State Question 362 |
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| Result | Votes | Percentage | ||
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259,301 | 57.74% | ||
| No | 189,819 | 42.26% | ||
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- Results are officially certified.
- Source
Text of measure
Ballot title
The ballot title for State Question 362 was as follows:
| “ | Shall a Constitutional amendment authorizing investment of permanent common school and other educational funds of State in loans secured by first mortgages bearing three percent annual interest given by any honorable discharged member of armed forces of the United States, or an ally thereof, who served in World War I or II or Korean War or any future war in which the United States may become engaged, on improved or unimproved farm lands of State, which loans shall not exceed ninety-three and one-half per centum of reasonable value of land and improvements, and prescribing procedure, be approved by the people? | ” |
Path to the ballot
- See also: Amending the Oklahoma Constitution
A simple majority vote is required during one legislative session for the Oklahoma State Legislature to place a constitutional amendment on the ballot. That amounts to a minimum of 51 votes in the Oklahoma House of Representatives and 24 votes in the Oklahoma 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 Oklahoma Oklahoma City (capital) |
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