Ohio Creation of the Ohio Bond Commission Amendment (May 1967)

A “yes” vote supported creating the Ohio Bond Commission.

A “no” vote opposed creating the Ohio Bond Commission.

No

Proposing to amend Article VIII of the Constitution of the state of Ohio by adding section 2i to promote the general welfare of the people of the state, to promote the agricultural, urban, industrial, and commercial development of the state, to improve the economic growth, educational, and employment opportunities of the people of the state, to facilitate passage of local voted bond or tax levies for capital improvements in which the state participates in to meet present-day demands of the state, by enlarging the power of the state to contract debts, by the creation of the Ohio Bond Commission, through which certain additional debts of the state may be contracted, notwithstanding Section 1 of said Article, providing for the organization thereof, conferring the power thereon to expend money to acquire, lease, construct, reconstruct, enlarge, improve, equip, furnish, and develop plans and interests in land, buildings, structures, equipment, and facilities within the state for any one or more of the following functions: for state or other government offices; for the penal, welfare, correctional, and mental hygiene institutions of the state; for comprehensive community health centers and for comprehensive community mental retardation centers; for public highways, including bridges and tunnels; for mass transportation for elementary, secondary, and vocational education schools; for state-supported or assisted institutions of higher learning, including technical institutes and community colleges; for private not-for-profit colleges, universities, and institutions of higher education; for state youth agencies; for senior citizen residential, recreational, and geriatric centers; for state-supported or assisted fairs, expositions, and exhibitions, including junior fairs; for parks and recreation; for conservation of natural resources, including water impoundment sites, flood control, and reservoirs; for locks, wharfs, docks, and port development; for sewer, water, and refuse disposal projects; for water and air pollution control projects; for airports, historical sites, libraries, stadiums, parking facilities, hospitals, and research and development of stations for urban redevelopment; for public housing projects for persons with limited income; conferring power on the commission to expend money, by direct grants or otherwise, in carrying out any such functions in conjunction with federal loans and grants, in conjunction with or to assist any political subdivision of the state or any other governmental entity of the state; conferring power on the commission to expend money to establish an administrative fund for payment of real estate taxes on residential property, to the extent that the liability of the aged and other natural persons therefore it has been deferred in accordance with the law, the expenditure from such fund not to exceed $25 million in any calendar year; conferring power on the commission to borrow money for the said functions and other such functions as may be added by law and issue highway obligations and other bonds and other obligations of the state payable from monies pledged from excises, taxes, fees, charges, and license taxes of the state, excluding ad valorem taxes on real and personal property and income taxes and such amount exclusive of highway obligations as will not require an estimated maximum amount for principal and interest thereon during any one fiscal year of more than three quarters of 1% of the general revenue funds for the then-preceding fiscal year in which total amount outstanding other bonds or other obligations at the time of issue as will never require an estimated maximum amount for principal and interest thereon during any one fiscal year of more than 6% of the general revenue fund of the state for the then-preceding fiscal year, provided that highway obligations payable from fees, excises, or license taxes relating to registration, operation, or use of vehicles on public highways, or to fuels used for propelling such vehicles, such shall be used only if payable from additional such highway user taxes levied and pledged therefor, provided that no tax supported bonds or other obligations shall be used or sold by the commission unless the General Assembly shall have levied and pledged excises, taxes, fees, charges, and license taxes or any combination thereof, except ad valorem taxes on real and personal property and income taxes in an amount sufficient to pay all principal interest and charges for the issuance and retirement of such bonds or other obligations which are further supported by a pledge of all such state taxes and excises, except highway user taxes, unless for highway obligations providing for the use of monies of the commission; conferring power on the commission to appropriate real property as prescribed by law; providing for the commission to issue and sell revenue bonds of the state; providing for annual reports and audits; providing that all such bonds and other obligations including revenue bonds shall be exempt from all taxes and excises levied by the state or by any political subdivision or taxing district thereof, and excluding the application of Sections 1, 3, 5, 7 and 13 and parts of Sections 4 and 6 of Article VIII.