Constitutional Amendment "E" authorizes the state to subscribe to stock or bonds of a private company with money from the permanent State School Fund or with money from land granted to the state by the federal government. I am against it for the following reasons:
The state would be buying interest in a private company. Remember Freddie Mac and Fannie Mae?
The state would be risking school fund money that "would result in about a one million-dollar annual increase or decrease." This sounds like a gamble at best and a disaster at worst.
The state would become a large competitor of private business, thus eliminating some small-business companies and may put large-business companies in financial distress.
Loa Don Glade
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Salt Lake City