State Treasurer Ted Wheeler wants to create a state-funded endowment for education beyond high school, to be decided in the November 2014 general election.
But Wheeler already is campaigning for the ballot measure, which would change the Oregon Constitution to allow the state to issue bonds or other debt to create the fund. A specific measure number will be assigned next year.
Wheeler acknowledged there is opposition to the state using its authority to issue general obligation bonds, which are backed by taxes, for something other than construction projects. The state issues other bonds that are repaid from earmarked sources, such as gasoline taxes and driver and vehicle fees, but these types of bonds would not be affected.
Read more at The Statesman Journal.