Section 7. Provision for Repayment of Loan and Interest

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Summary: Repeals authority of state to issue bonds to fund the Rural Credits Loan Fund, to be loaned on farm mortgages

Election Date: November 3, 1942

Votes For Ratification: 101425

Votes Against Ratification: 88857

Percent for Ratification: 53%

Percent Against Ratification: 47%

Notes:

Amendment Source: 1941 SJR 1

Effective Date Source:

Provision for Repayment of Loan and Interest

Such loans shall be repaid with interest accruing in semi-annual or annual installments on the amortization plan, such installments being fixed at such sums as will cover the interest rate and will liquidate the debt in a period to be agreed on between said board and the applicant, such period to be not less than ten nor more than thirty-six years; but any debtor may liquidate any part or all of his indebtedness in amounts of $50 or multiples thereof upon any amortization payment date.

Summary: Adding new article on rural credits

Election Date: November 7, 1916

Votes For Ratification: 107488

Votes Against Ratification: 83887

Percent for Ratification: 56%

Percent Against Ratification: 44%

Notes: One ballot measure added the new article XIa

Amendment Source: OR 1916 VIP A11a S1 11

Effective Date Source: