Senate Constitutional Amendment No. 33. Adds Section 18 ¼ to Article XI of Constitution. Authorizes cities or other public bodies to pledge parking meter income as security for the payment of revenue bonds issued to finance construction or acquisition of public parking lots, garages, or other automotive parking facilities.
Popular Vote Results
Y:1515124; A:67.7; N:723882; B:32.3
Senate Constitutional Amendment
Chris N. Jesperson, State Senator, San Luis Obispo Cove
FINANCING OF OFF-STREET PARKING California Proposition 3 (1950).