Article XI-J of the Oregon State Constitution

In this post, we look at Article XI-J of the Oregon State Constitution.  This Article is entitled "Small Scale Local Energy Loans".  The purpose here is to create local energy supplies.  The date of this is the late 1970's where the oil shocks were very much in people's minds and also, there were concerns about jobs and so perhaps this was also seen as a way to bolster job creation, especially in rural, small town areas.  The Article has 5 sections.

Section 1

This section authorizes that the state can take on debt to fund Small Scale Local Energy Loans.

Section 2

This section authorizes the issuance of bonds to take on the debt.

Section 3

This section authorizes rolling over of the bonds.

Section 4

This section authorizes that the state can levy ad valorem property taxes in order raise money to pay for the bonds.

Section 5

This section directs the legislature to issue laws and regulations in order to implement the Article.  Further, it states that this article supersedes any existing county or municipal charters with regards to funding small scale local energy projects.