Bonds on the ballot, deadline next Tuesday

Measures 68 and 69, appearing on the ballots due in on May 18, are legislatively referred constitutional amendments aiming to allow schools to use bond funds to pay for the renovation of existing buildings.

Currently, the Oregon constitution prohibits state universities from using low-cost bonds to buy existing buildings. For PSU campus, where expansion often requires the purchase of existing buildings, allowance for the higher education system to use the lowest-cost financing would keep costs low.

The result of a “Yes” vote on Measure 68 would allow the state to issue bonds to match voter-approved school district bonds for school capital costs, and dedicates lottery funds for matching funds and repayment.

The result of a “No” vote on Measure 68 would retain the current law, which prohibits the state and restricts local districts from issuing bonds to pay for school capital costs (acquisition, construction, repair and improvement of existing facilities).

A “Yes” vote on Measure 69 would allow state authority to issue lowest cost bonds to finance projects for the benefit of community colleges and public universities.

A “No” vote on measure 69 rejects changes to the state’s authority to issue lowest cost bonds to finance community college and university facility projects.

ASPSU President-elect Katie Markey said, “Measures 68 and 69 deal with bonding…and bonds are really confusing.”

Despite the confusing nature of the measures, Markey expects a large student voter response.

“We didn’t run a big registration drive this term because so many students already registered to vote—about 2,755 in fall term and 60 more this term,” Markley said.

According to the Daily Astorian newspaper, “[Measure 69] is most relevant to Portland State University, which is in the middle of a city, but it might well be used by other institutions.”

These two ballot measures referred by the Oregon Legislature are the least talked-about elements on the May ballot due to their relatively benign nature.

Measure 68 also applies to local K-12 school districts, as it would help fund maintenance, repairs, and upgrades to school facilities. It allows the state to issue bonds to provide matching funds for voter-approved projects, preserving local control while saving taxpayer money.

Measure 68 would allow the state to match money that is raised by school districts that pass their own construction bonds. It expands the definition of an acceptable purchase to include computers, for instance, or a major roof repair.

According to the Oregon Secretary of State’s office, “Measure 68 would revise the Oregon Constitution to allow voters to approve local district bonds for school capital costs and the state to issue bonds and use the revenue from those bonds to help local school districts pay for capital costs. Capital costs include acquisition, construction, repair and improvement, but not routine maintenance or supplies.”

The Constitution currently limits both voters’ and the state’s ability to approve or issue local district bonds for school capital costs. The measure would dedicate 15 percent of state lottery revenues to a “school capital matching fund” to repay state funds provided to districts. State bonds may not be repaid by raising property taxes.

May 18 Election Day
June 17 Certification of election results