Oregon Measure 52, Lottery Bonds for Public Schools Measure (1997)
| Oregon Measure 52 | |
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| Election date |
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| Topic Bond issues and Education |
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| Status |
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| Type Legislatively referred state statute |
Origin |
Oregon Measure 52 was on the ballot as a legislatively referred state statute in Oregon on November 4, 1997. It was approved.
A "yes" vote supported authorizing legislation establishing a state lottery bond program to finance public school projects. |
A "no" vote opposed authorizing legislation establishing a state lottery bond program to finance public school projects. |
Election results
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Oregon Measure 52 |
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| Result | Votes | Percentage | ||
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805,742 | 73.30% | ||
| No | 293,425 | 26.70% | ||
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- Results are officially certified.
- Source
Text of measure
Ballot title
The ballot title for Measure 52 was as follows:
| “ | AUTHORIZES STATE LOTTERY BOND PROGRAM TO FINANCE PUBLIC SCHOOL PROJECTS RESULT OF “YES” VOTE: “Yes” vote authorizes legislation establishing state education lottery bond program to finance public school projects. RESULT OF “NO” VOTE: “No” vote rejects establishing state education lottery bond program to finance public school projects. SUMMARY: Measure authorizes legislation establishing revenue bond program to finance “state education projects” for public schools. “State education projects” means projects to acquire, construct, improve, remodel, maintain, repair public school facilities, including land, building costs; computer, telecommunications equipment; books, furniture, furnishings, vehicles, planning costs. State repays bond debt using unobligated net lottery proceeds, earnings on Education Endowment Fund, other moneys appropriated by legislature. Net proceeds of bonds limited to $150 million. Implementing legislation, already enacted contingent on measure’s passage, appropriates funding only for school district projects. ESTIMATE OF FINANCIAL IMPACT: The measure authorizes the sale of Lottery-backed revenue bonds with a principal sum of up to $150 million, plus an amount equal to bond issuance costs and reserves. The proceeds are to be used for the acquisition, construction, improvement, remodeling or repair of public school facilities throughout Oregon and the purchase of telecommunications equipment, computers, software and related technology, books, furniture and vehicles. The bonds, plus interest, will be repaid through a Lottery revenue allocation of approximately $15 million per year beginning in fiscal year 2000. If issued at recent interest rates and a 15 year pay back period, total interest costs are estimated at $71.4 million. | ” |
Full Text
The full text of this measure is available here.
Path to the ballot
A simple majority vote is required during one legislative session for the Oregon State Legislature to place a state statute 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. Statutes do not require the governor's signature to be referred to the ballot.
See also
External links
Footnotes
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