Oregon Measure 3, Bonds for Higher Education Amendment (May 1968)
| Oregon Measure 3 | |
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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 constitutional amendment |
Origin |
Oregon Measure 3 was on the ballot as a legislatively referred constitutional amendment in Oregon on May 28, 1968. It was approved.
A "yes" vote supported establishing new bond limitation for higher education and community college educational and general purpose building programs at 0.75% of true cash value of taxable property in state. |
A "no" vote opposed establishing new bond limitation for higher education and community college educational and general purpose building programs at 0.75% of true cash value of taxable property in state. |
Election results
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Oregon Measure 3 |
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| Result | Votes | Percentage | ||
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353,383 | 57.52% | ||
| No | 261,014 | 42.48% | ||
Text of measure
Ballot title
The ballot title for Measure 3 was as follows:
| “ | HIGHER EDUCATION AND COMMUNITY COLLEGE BONDS— Purpose: Proposes amendment to Article XI-G, Oregon Constitution. Establishes new bonding limitation for higher education and community college educational and general purpose building programs at amount equal to three-fourths of one percent of true cash value of taxable property in state. Restricts bond issues in any biennium to amount of matching legislative appropriation. Authorizes financing of higher education building programs from combined sources. Prohibits using Article XI-G bond proceeds for wholly self-liquidating and self-sustaining programs. ESTIMATE OF FINANCIAL EFFECTS: This amendment to Article XI-G would increase the bonding limit for Higher Education and Community College educational and general purpose building programs from $30 million to approximately $113 million. Total bonding limit would vary in the future as the true cash value of taxable property in the state changes. If all the proposed new bonding capacity were used, the average annual principal and interest payments would increase by approximately $5 million. The actual payments would be limited by the amount of bonds authorized by the legislature. The 1967 Special Legislative Session approved issuing $9.35 million in bonds out of the increased bonding limit to be established by this measure. Average principal and interest payments in the next thirty years to retire these bonds will be approximately $560,000 per 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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