House Joint Resolution 13—Referred to the Electorate of Oregon by the Legislative Assembly of the 2009 Regular Session to be voted on at the Primary Election, May 18, 2010.
Revises Constitution: Allows state to issue bonds to match voter approved school district bonds for school capital costs.
Result of “yes” vote
“Yes” vote allows state to issue bonds to match voter approved school district bonds for school capital costs. Dedicates lottery funds for matching funds and repayment.
Result of “no” vote
“No” vote retains current law prohibiting state and restricting local districts from issuing bonds to pay for school capital costs, including acquisition, construction, repair and improvement.
This measure would revise the Oregon Constitution to allow voters to approve local district bonds for school capital costs and the state to issue bonds and use the revenue from those bonds to help local school districts pay for capital costs. The Constitution currently limits voters’ ability to approve local district bonds for school capital costs and prevents the state from issuing bonds to help local districts pay for school capital costs. “Capital costs” include costs for acquisition, construction, repair and improvement, but not routine maintenance or supplies. State funds may be used only to match funds approved by voters in local districts. The measure would dedicate 15 percent of state lottery revenues to a “school capital matching fund” to repay state funds provided to districts. State bonds may not be repaid by raising property taxes. Contains other provisions.
Estimate of financial impact
There is no financial effect on either state or local government expenditures or revenues.