Oklahoma State Question 600, Industrial Finance Authority Amendment (August 1986)
| Oklahoma State Question 600 | |
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| Election date |
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| Topic State and local government budgets, spending, and finance |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
Oklahoma State Question 600 was on the ballot as a legislatively referred constitutional amendment in Oklahoma on August 26, 1986. It was approved.
A "yes" vote supported increasing the Oklahoma Industrial Finance Authority's bond sale limit from $10 million to $90 million, raising its lending limits for industrial projects, allowing loan funds to purchase federal loans, and restricting additional bond sales to increments of $10 million. |
A "no" vote opposed increasing the Oklahoma Industrial Finance Authority's bond sale limit from $10 million to $90 million, raising its lending limits for industrial projects, allowing loan funds to purchase federal loans, and restricting additional bond sales to increments of $10 million. |
Election results
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Oklahoma State Question 600 |
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| Result | Votes | Percentage | ||
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369,049 | 58.56% | ||
| No | 261,165 | 41.44% | ||
Text of measure
Ballot title
The ballot title for State Question 600 was as follows:
| “ | This measure amends Section 34 of Article X of the Oklahoma Constitution. This section created the Oklahoma Industrial Finance Authority. The Authority sells general obligation bonds to help finance industry in Oklahoma. The bonds are backed by the full faith and credit of the state. The Authority loans money to industrial projects. The loans are secured by mortgages. This measure increases the amount of bonds the Authority could sell from $10,000,000.00 to $90,000,000.00. This measure increases the Authority's lending limit from 25% to 33-1/3% of the value of the project for second mortgage loans. This measure would allow the Authority to loan up to 66-2/3% of the value of the mortgage loans. This measure would allow the Authority to loan up to 66-2/3% of the value of the project for first mortgage loans. It allows loan funds to be used to buy federal loans. It limits sales of the additional bonds. Those bonds can be sold only in amounts that do not exceed $10,000,000.00. | ” |
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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