Proposition Summary

BONDS TO REFUND STATE INDEBTEDNESS. LEGISLATIVE CONSTITUTIONAL AMENDMENT. Amends Constitution Article XVI, section 1 to permit Legislature, by two-thirds vote, to authorize, without voter approval, refunding bonds to refinance any outstanding state debt. Financial impact: Unknown possible future savings in state interest costs.

Proposition Number

10

Year

1976

Document Type

Proposition

Pass/Fail

Fail

Legislative Vote Results

FINAL VOTE CAST BY LEGISLATURE ON ACA 50 (PROPOSITION 10): Assembly - Ayes, 68; Noes, 0 -- Senate - Ayes, 30; Noes, 2

Popular Vote Results

Y: 2363999; A: 45.4; N: 2846283; B: 54.6

Election Type

Primary

Proposition Type

Assembly Constitutional Amendment

For Author

John Francis Foran, Member of the Assembly, 16th District; Chairman, Assembly Ways and Means Committee; Jesse M. Unruh, State Treasurer; Roy M. Bell, Director, Department of Finance

Against Author

United Organizations of Taxpayers, Inc.; Howard Jarvis, State Chairman; Edward J. Boyd, President

Rebuttal Author

United Organizations of Taxpayers, Inc.; Howard Jarvis, Chairman; Edward J. Boyd, President

Rebuttal Against Author

John Francis Foran, Member of the Assembly, 16th District; Chairman, Assembly Ways and Means Committee; Jesse M. Unruh, State Treasurer; Roy M. Bell, Director, Department of Finance

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