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Oregon Measure 32, Bonds for Portland Regional Light Rail Referendum (1996)
| Oregon Measure 32 | |
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| Election date |
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| Topic Bond issues and Transportation |
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| Status |
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| Type Veto referendum |
Origin |
Oregon Measure 32 was on the ballot as a veto referendum in Oregon on November 5, 1996. It was defeated.
A "yes" vote supported authorizing lottery bonds for a regional light rail in the Portland Metropolitan Area and other transportation projects. |
A "no" vote opposed authorizing lottery bonds for a regional light rail in the Portland Metropolitan Area and other transportation projects. |
Election results
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Oregon Measure 32 |
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| Result | Votes | Percentage | ||
| Yes | 622,764 | 46.90% | ||
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704,970 | 53.10% | ||
Text of measure
Ballot title
The ballot title for Measure 32 was as follows:
| “ | AUTHORIZES BONDS FOR PORTLAND REGION LIGHT RAIL, TRANSPORTATION PROJECTS ELSEWHERE RESULT OF “YES" VOTE: “Yes” vote authorizes lottery bonds for Portland region light rail, transportation projects outside Portland region. RESULT OF “NO" VOTE: “No" vote rejects lottery bonds for Portland region light rail, transportation projects outside Portland region. SUMMARY: Permits state to issue lottery revenue bonds to fund the following, plus costs and reserves: (1) $375 million of state’s share of cost to build Portland region “South North light rail”; and (2) $115 million of separate $375 million “Transportation Equity Account,” payable to cities and counties for transportation projects outside Portland region. $260 million of Transportation Equity Account funded by general fund and other sources. Unobligated net lottery proceeds repay bonds. Bonds cannot be sold unless federal light rail matching funds available. Other provisions. ESTIMATE OF FINANCIAL IMPACT: The measure provides $750 million funding for transportation projects throughout Oregon. The measure authorizes the sale of Lottery-backed revenue bonds with a principal sum of up to $490 million, plus bond issuance costs and reserves. Up to $375 million of the bonds will be used to finance the State’s commitment toward construction of the South North Light Rail Line. Total Tri-Met expenditures from all sources, including federal funds, for the South North light rail project would be up to $1.5 billion. $115 million of the bonds will be used to finance city and county transportation projects outside the Portland metropolitan region. The bonds, plus interest, will be repaid through a Lottery revenue allocation of $21.8 million per year beginning in 1999, and increasing to $33.8 million per year beginning with the year in which the South North Lottery-backed revenue bonds are sold. If issued at current interest rates, for each $100 million in 20-year Lottery-backed revenue bonds total interest costs are estimated at $64.4 million. In addition, state General Fund revenues of $110 million will be available over a ten year period for city and county transportation projects outside the Portland metropolitan region. Local governments in the Portland metropolitan region will provide $150 million from various sources, including federal transportation funds, for cities and counties outside the Portland metropolitan region to spend on transportation projects over a ten year period. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
A veto referendum is a citizen-initiated ballot measure that asks voters whether to uphold or repeal an enacted law. This type of ballot measure is also called statute referendum, popular referendum, people's veto, or citizen's veto. There are 23 states that allow citizens to initiate veto referendums.
In Oregon, the number of signatures required for a veto referendum is equal to 4% of the votes cast in the last gubernatorial election. A simple majority vote is required for voter approval.
See also
External links
Footnotes
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State of Oregon Salem (capital) |
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