Oregon Measure 1, Bonds for State Capital Construction Projects Amendment (May 1970)
| Oregon Measure 1 | |
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| Election date |
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| Topic Bond issues |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
Oregon Measure 1 was on the ballot as a legislatively referred constitutional amendment in Oregon on May 26, 1970. It was defeated.
A "yes" vote supported authorizing the issuance and sale of bonds not exceeding 0.25% of true cash value of all taxable property for state capital construction projects. |
A "no" vote opposed authorizing the issuance and sale of bonds not exceeding 0.25% of true cash value of all taxable property for state capital construction projects. |
Election results
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Oregon Measure 1 |
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| Result | Votes | Percentage | ||
| Yes | 190,257 | 38.80% | ||
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300,126 | 61.20% | ||
Text of measure
Ballot title
The ballot title for Measure 1 was as follows:
| “ | CAPITAL CONSTRUCTION BONDS FOR STATE GOVERNMENT —Purpose: Constitutional Amendment authorizing issuance of general obligation bonds not to exceed at any one time one-fourth of 1% of true cash value of all taxable property. The bond revenues are to finance the cost of building and other state government projects, and to be repaid from gifts, rentals, parking and other building fees. The legislature, however, may impose a property tax if such gifts, rentals and fees are insufficient to pay indebtedness. ESTIMATE OF FINANCIAL EFFECTS: This amendment would provide an additional borrowing method to finance self-liquidating and self-supporting general state buildings and other projects. Based on the estimate of 1971 true cash value, the maximum amount of bonds which the legislature could authorize would be approximately $50 million. This amendment would make it possible for the state to reduce interest annual rates at which it borrows money by more than 2%—a possible saving of approximately $1 million a year. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
- See also: Amending the Oregon Constitution
A simple majority vote is required during one legislative session for the Oregon State Legislature to place a constitutional amendment on the ballot. That amounts to a minimum of 31 votes in the Oregon House of Representatives and 16 votes in the Oregon 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 Oregon Salem (capital) |
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