The LAST DAY TO REGISTER TO VOTE in the November 8, 2011 Constitutional Amendment Election is Tuesday, October 11th. If you are not registered, you must complete an application to register to vote and submit it to the voter registrar no later than 5 pm on Tuesday (10/11/11). If you need to update information on your current voter registration you must do so prior to 5 pm on Tuesday (10/11/11).
There are ten propositions on the November 8th election. We'll examine two in today's blog.
Proposition No. 5
"The constitutional amendment authorizing the legislature to allow cities or counties to enter into inter local contracts with other cities or counties without th imposition of a tax or the provision of a sinking fund."
Under current law cities and counties may not create debt unless a tax is levied that is sufficient to pay the interest and the debt is paired with a sinking fund set aside to cover future payments on the debt.
The amendment, along with enabling legislation passed in the 82nd legislature would allow cities and counties to enter into contracts longer than one year without the contract automatically constituting a debt.
Proposition No. 6
"The constitutional amendment clarifying references to the permanent school fund, allowing the General Land Office to distribute revenue from permanent school fund land or other properties to the available school fund to provide additional funding for public education, and providing for an increase in the market value of the permanent school fund for the purpose of allowing increased distributions from the available school fund."
The proposition identifies sources of funding to the permanent school fund. It also allows the General Land Office to distribute revenue from the permanent school fund to the available school fund.
The permanent school fund is an endowment trust holding investments from the corpus of the fund and proceeds from state land and mineral rights dedicated to support public schools. The available school fund provides state assistance to school districts and receives its money from the permanent school fund based upon a specific formula. The proposition would allow additional funds to be transferred from the permanent school fund to the available school fund.
Additionally the Natural Resources Code authorizes distribution of school land investment funds directly to the available school fund but the attorney general has concluded that this is unconstitutional. The proposition would provide constitutional authority to the Natural Resources Code.
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