Article VIII.
Taxation and Finance

Section 12. Surplus state funds; investments

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196819671874

Surplus state funds; investments

Summary:

Election Date: April 23, 1968

Votes For Ratification: 1022706

Votes Against Ratification: 614110

Percent for Ratification: 62%

Percent Against Ratification: 38%

Notes:

Amendment Source: PA 1967 Question 2

Effective Date Source:

196819671874

Surplus state funds; investments

The moneys of the State, over and above the necessary reserve, shall be used in the payment of the debt of the State, either directly or through the sinking fund, and the moneys of the sinking fund shall never be invested in or loaned upon the security of anything, except the bonds of the United States or of this State.

Summary:

Election Date: May 16, 1967

Votes For Ratification: 1227214

Votes Against Ratification: 638361

Percent for Ratification: 66%

Percent Against Ratification: 34%

Notes:

Amendment Source: 1967 JR 5

Effective Date Source:

196819671874

Surplus state funds; investments

The moneys of the State, over and above the necessary reserve, shall be used in the payment of the debt of the State, either directly or through the sinking fund, and the moneys of the sinking fund shall never be invested in or loaned upon the security of anything, except the bonds of the United States or of this State.

Summary:

Election Date:

Votes For Ratification:

Votes Against Ratification:

Percent for Ratification: %

Percent Against Ratification: %

Notes:

Amendment Source:

Effective Date Source: