Oregon Measure 5, War Veterans' Fund Bonding Limits Amendment (1970)
| Oregon Measure 5 | |
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| Election date |
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| Topic State and local government budgets, spending, and finance and Veterans policy |
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| Status |
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| Type Legislatively referred constitutional amendment |
Origin |
Oregon Measure 5 was on the ballot as a legislatively referred constitutional amendment in Oregon on November 3, 1970. It was approved.
A "yes" vote supported increasing bonding limits for the Oregon War Veterans’ Fund from 3% to 4% of the true cash value of all property within the state. |
A "no" vote opposed increasing bonding limits for the Oregon War Veterans’ Fund from 3% to 4% of the true cash value of all property within the state. |
Election results
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Oregon Measure 5 |
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| Result | Votes | Percentage | ||
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481,031 | 78.27% | ||
| No | 133,564 | 21.73% | ||
Text of measure
Ballot title
The ballot title for Measure 5 was as follows:
| “ | VETERANS' LOAN AMENDMENT - Purpose: Amends Oregon Constitution to increase bonding limits for the Oregon War Veterans’ Fund from 3% to 4% of the true cash value of all property in the state. This fund is financed by bonds issued by the state, the proceeds of which are loaned to eligible veterans for farm and home purchases. “ESTIMATE OF FISCAL EFFECTS: This amendment would increase the bonding limits of the Oregon War Veterans fund from 3% to 4% of the true cash value of all property in the State and thus provide in 1971 an estimated $180 million in additional bonding capacity. These additional funds would enable the eligible veterans to receive loans for farm and home purchases. The loan repayments by the veterans are expected to be adequate to pay the interest and retire any state bonds issued under the proposed amendment." | ” |
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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