STATE OF OKLAHOMA

1st Session of the 54th Legislature (2013)

SENATE JOINT
RESOLUTION 10	By:	Brecheen

AS INTRODUCED

A Joint Resolution directing the Secretary of State to refer to the people for their approval or rejection a proposed amendment to the Oklahoma Constitution by adding a new Section 44 to Article X; prohibiting the state from exceeding certain limit on indebtedness; excluding certain types of obligations; allowing the limit on debt to be overridden by a super majority of the Legislature; providing ballot title; and directing filing.

BE IT RESOLVED BY THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE 1ST SESSION OF THE 54TH OKLAHOMA LEGISLATURE:
SECTION 1.  The Secretary of State shall refer to the people for their approval or rejection, as and in the manner provided by law, the following proposed amendment to the Oklahoma Constitution by adding a new Section 44 to Article X to read as follows:
Section 44.  The State of Oklahoma shall not become indebted in an amount that exceeds Two Billion Dollars ($2,000,000,000.00) exclusive of obligations incurred through the master lease program as provided in Section 3206.6 of Title 70 of the Oklahoma Statutes.  The Legislature, upon an affirmative vote of two thirds (2/3) of the members of both houses, may declare an emergency and permit the total indebtedness of the state to exceed the amount provided in this section.
SECTION 2.  The Ballot Title for the proposed Constitutional amendment as set forth in SECTION 1 of this resolution shall be in the following form:
BALLOT TITLE
Legislative Referendum No. ____	State Question No. ____
THE GIST OF THE PROPOSITION IS AS FOLLOWS:
This measure adds a new section of law to the State Constitution.  It adds Section 44 to Article 10.  This measure limits the amount of debt of the state to Two Billion Dollars ($2,000,000,000.00).  It excludes debt for the master lease program.  It allows the Legislature to declare an emergency.  It allows for the debt to be increased if there is an emergency.
SHALL THE PROPOSAL BE APPROVED?
FOR THE PROPOSAL — YES	_____________
AGAINST THE PROPOSAL — NO	_____________
SECTION 3.  The President Pro Tempore of the Senate shall, immediately after the passage of this resolution, prepare and file one copy thereof, including the Ballot Title set forth in SECTION 2 hereof, with the Secretary of State and one copy with the Attorney General.

54-1-797	AM	1/14/2013 1:49:00 PM