Section 2.

The bonds shall be payable from contract or loan proceeds; bond reserves; other funds available for these purposes; and, if necessary, state ad valorem taxes.

Summary: Authorizes general obligation bonds to be issued in amount of 1/2 of 1% of true cash value of taxable property to finance multifamily housing for low-income elderly

Election Date: May 23, 1978

Votes For Ratification: 291778

Votes Against Ratification: 250810

Percent for Ratification: 54%

Percent Against Ratification: 46%

Notes:

Amendment Source: OR 1978 Primary VIP 3

Effective Date Source: