Assembly Constitutional Amendment 16. Ratifies District Finance Act of 1933. Authorizes $55,000,000 State bonds to refinance irrigation and reclamation districts by purchasing and canceling their outstanding bonds when recommended by California Districts Securities Commission. State receiving therefor districts' refunding bonds coinciding as nearly as practicable in maturity dates and amounts with State bonds issued; permits State to resell refunding bonds; prohibits district issuing additional bonds without Commission's consent while refunding bonds outstanding; empowers Commission to levy district assessments to pay refunding bonds should district not levy same.
Popular Vote Results
Y: 444998; A: 41.3; N: 631230; B: 58.7
Assembly Constitutional Amendment
J. E. Thorp, Assemblyman, Twelfth Assembly District; C. Ray Robinson, Assemblyman, Thirty-third Assembly District
Frank W. Wright, Assemblyman Fiftieth District
STATE BONDS FOR REFINANCING IRRIGATION AND RECLAMATION DISTRICTS California Proposition 6 (1933).