Section 4.

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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:

Limitation upon Amount of Loans

Said state land board is authorized and directed to loan the moneys in said Rural Credits Loan Fund to owners of farm lands in Oregon upon notes secured by mortgages or deeds of trust constituting first liens on such farm lands in amounts which shall not exceed fifty per cent of the value of such lands, nor $50 per acre on such lands, nor less than $200 nor more than $5,000 to any individual. If pending applications shall at any time exceed the funds available, preference shall be given to loans not exceeding $2,000 in amount.

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: