Initiative measure adding Section 3 to Article XVI of Constitution. Creates State Highway Finance Board to serve without compensation. Directs cancelation of unsold forty thousand bonds authorized by Section 2 of same article; authorizes other bonds to same amount, to be issued as provided in said section, but at times and interest rate not exceeding six per cent, determined by said board under then prevailing market conditions; makes provisions of said section otherwise govern said bonds and proceeds thereof. Beginning July 1, 1921, relieves counties from payments to state on account of highway construction.
Popular Vote Results
Y: 435492; A: 58.3; N: 311667; B: 41.7
Code Sections Affected
Added Cal. Const. art. XVI, section 3. Repealed portions of Cal. Const. art. XVI, section 2. Repealed portions of section 8 of "State Highways Act of 1909", as amended by Ch. 414, Statutes of 1915.
M. B. Johnson, State Senator Eleventh District
Will H. Fischer, Director, Taxpayers' Association of California
HIGHWAY BONDS California Proposition 9 (1920).