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CE,O|CFFS|M2016 <br />ITY OF UGENEREGON ONSERVATION INANCE EASIBILITY TUDY AY <br />Appendix B:General Obligation Bond Implementation, Ballot <br />Language Requirements, and Examples <br />General obligation bonds must be approved by a majority of the voters voting in a May or <br />November general election, or at a special election with at least 50 percent voter turnout (i.e., <br />53 <br />approved by a “double majority” of voters). <br />Bond measures can be submitted to voters on the following dates: <br />second Tuesday in March (double majority required); <br />third Tuesday in May; <br />third Tuesday in September (double majority required); or <br />54 <br />first Tuesday after the first Monday in November. <br />The general election is held on the first Tuesday after the first Monday in November of each even- <br />55 <br />numbered year. <br />Ballot LanguageRequirementsand Examples <br />The ballot title of any measure, other than a state measure, to be initiated or referred shall consist <br />of: <br />A caption of not more than 10 words which reasonably identifies the subject of the <br />measure; <br />A question of not more than 20 words which plainly phrases the chief purpose of the <br />measure so that an affirmative response to the question corresponds to an affirmative vote <br />onthe measure; and <br />A concise and impartial statement of not more than 175 words summarizing the measure <br />56 <br />and its major effect. <br />If the election is not the May or November election, and thus the “double majority” requirement <br />applies, the ballot must include the following statement as the first statement of the ballot title <br />summary: <br />“This measure may be passed only at an election with at least a 50 percent voter turnout.” <br />57 <br />The words of this statement do not count towards the word limits described above. <br />The ballot title of any measure requesting elector approval of bonds, the principal and interest on <br />which will be payable from taxes imposed on property or property ownership that are not subject to <br />the limitations of sections 11 and 11b, Article XI of the Oregon Constitution (including general <br />obligation bonds), shall contain the following statement immediately after the ballot title question <br />and appearing with it, in this manner: <br />53 <br />League of Oregon Cities, Debt Issuance Manual, September 2007 <br />54 <br />Oregon Revised Statutes §221.230 <br />55 <br />League of Oregon Cities, Debt Issuance Manual, September 2007 <br />56 <br />Oregon Revised Statutes §250.035 <br />57 <br />Oregon Revised Statutes §250.036 <br />32TTPL::CFD <br />HE RUST FOR UBLIC AND ONSERVATION INANCE EPARTMENT <br /> <br />