Oklahoma State Question 427, Highway Revenue Notes Measure (April 1965)
| Oklahoma State Question 427 | |
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| Topic State and local government budgets, spending, and finance and Transportation |
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| Status |
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| Type Legislatively referred state statute |
Origin |
Oklahoma State Question 427 was on the ballot as a legislatively referred state statute in Oklahoma on April 27, 1965. It was defeated.
A "yes" vote supported authorizing a Joint Resolution to issue $60,000,000 in Highway Revenue Notes to fund road maintenance with an interest rate of 3.5%. |
A "no" vote opposed authorizing a Joint Resolution to issue $60,000,000 in Highway Revenue Notes to fund road maintenance with an interest rate of 3.5%. |
Election results
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Oklahoma State Question 427 |
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| Result | Votes | Percentage | ||
| Yes | 213,953 | 46.39% | ||
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247,256 | 53.61% | ||
Text of measure
Ballot title
The ballot title for State Question 427 was as follows:
| “ | Shall a Joint Resolution authorizing the State Highway Commission to issue periodically up to Sixty Million Dollars ($60,000,000) in Highway Revenue Notes maturing on or before July 15, 1985, for constructing, widening, straightening, improving and resurfacing roads, to bear interest not to exceed three and five-tenths per cent (3.5%), providing form of notes, conditions of sale and redemption, judicial approval and incontestability; providing payment only out of the Highway Commission Note Fund of 1965; and irrevocably pledging that portion of first proceeds of seventy per cent (70%) of present four cents (4¢) per gallon motor fuel excise taxes necessary to pay principal and interest thereon, be approved by the people? Shall the proposed Joint Resolution be approved? | ” |
Path to the ballot
A simple majority vote is required during one legislative session for the Oklahoma State Legislature to place a state statute 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. Statutes require the governor's signature to be referred to the ballot. Bills that raise revenue must pass in both the House and Senate with at least a three-fourths supermajority to be enacted without voter approval; if a revenue-increasing bill passes by more a simple majority but less than a three-fourths supermajority, they must be referred to the ballot.
See also
External links
Footnotes
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