2003-09-16 - Ballots OFFICIAL BALLOT•SPECIAL ELECTION•DESCHUTES COUNTY,OREGON•SEPTEMBER 16,2003
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INSTRUCTIONS TO VOTER
USE A PENCIL ONLY
�� ■ TO VOTE, BLACKEN THE OVAL (40)
- COMPLETELY TO THE LEFT OF THE
RESPONSE OF YOUR CHOICE.
STATE MEASURE
REFERRED TO THE PEOPLE
- 21 BY THE LEGISLATIVE ASSEMBLY OPLE
- 29 AMENDS CONSTITUTION:AUTHORIZES
STATE OF OREGON TO INCUR GENERAL
OBLIGATION DEBT FOR SAVINGS ON
PENSION LIABILITIES.
RESULT OF"YES"VOTE:"Yes"
vote authorizes state to incur
- YESgeneral obligation debt for sav-
ings on pension liabilities.
RESULT OF "NO" VOTE: "No"
NO vote does not authorize state to
incur general obligation debt for
- savings on pension liabilities.
SUMMARY:This measure amends the Oregon
Constitution to authorize the State of Oregon to
- incur debt to finance pension liabilities of the
state at a lower cost to the state and to pay costs
of issuing and incurring indebtedness. The mea-
sure authorizes the Legislative Assembly to en-
- act implementing legislation.
The measure specifies that indebtedness autho-
rized by the measure is a general obligation of
the state,backed by the full faith and credit and
taxing power of the state,except ad valorem tax-
- 40 . ing power. The measure limits the amount of
indebtedness outstanding at any time to one per-
cent of the real market value of property in the
. 41 state.
ESTIMATE OF FINANCIAL IMPACT-This measure
has no direct financial effect to state or local
- 42 - government expenditures or revenues. However,
general obligation indebtedness provides the
lowest cost alternative among financing mecha
nisms. To the extent that the State of Oregon
uses the authority to issue general obliga ion
- indebtedness rather than using more costly fi-
nancing mechanisms,the State of Oregon should
experience lower financing costs.
WARNING
Any person who, by use of force or
- other means, unduly influences an
elector to vote in any particular man-
- ner or to refrain from voting, is sub-
ject,upon conviction,to imprisonment
or to a fine, or both.
7AW IBM C Se :0001 JJ
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