West Virginia Bonds for Roads, Amendment 3 (1996)
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West Virginia Amendment 3, also known as the Safe Roads Amendment of 1996, was on the November 5, 1996, election ballot in West Virginia as a legislatively referred constitutional amendment, where it was approved.
Text
The text of the measure from the Constitution of West Virginia:
| “ | AMD-16. SAFE ROADS AMENDMENT OF 1996.
(a) The Legislature shall have power to authorize the issuing and selling of state bonds not exceeding in the aggregate five hundred fifty million dollars. The proceeds of said bonds hereby authorized to be issued and sold over a five-year period in the following amounts:
Any bonds not issued under the provisions of subdivisions (1) through (4) of this subsection may be carried forward and issued in any subsequent year. (b) The proceeds of the bonds shall be used and appropriated for the following purposes:
(c) When a bond issue as aforesaid is authorized, the Legislature shall at the same time provide for the collection of an annual state tax sufficient to pay as it may accrue the interest on such bonds and the principal thereof within and not exceeding twenty-five years. Such tax shall be levied in any year only to the extent that the moneys in the state road fund irrevocably set aside and appropriated for and applied to the payment of the interest on and the principal of said bonds becoming due and payable in such year are insufficient therefore. Any interest that accrues on the issued bonds prior to payment shall only be used for the purposes of the bonds.[1] |
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| —West Virginia Legislature[2] | ||
See also
External links
- National Conference of State Legislatures Ballot Measures Database
- Amendments to the West Virginia Constitution
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
- ↑ West Virginia Legislature, "Constitution of West Virginia," accessed August 25, 2015
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