Show I CONSTITUTIONAL AMENDMENT I NO 1 Proposing to Amend Section 1 Article XIV of the Constitution of Utah Relating to State Indebtedness Indebted S ness nessA nessA A concurrent resolution providing an amendment to Section 1 Article XIV of or the Constitution of the State of tah relating to state debt limita 1 ton tion I Be It enacted by hy the I Legislature o of the State of Utah two-thirds two of al althe alf the members elected to each of the two houses concurring therein Section 1 That it is proposed to amend Section 1 I Article 14 of the Constitution of tho the State of oC Utah so I that the same will read as follows Sec 1 To meet casual deficits or failures in revenue and for necessary expenditures for public purposes including in In- eluding the erection of public buildIngs build build- Ings and for tor tho the payment of all territorial territorial ter ter- indebtedness assumed by hy tho the sate the state may contract debts not exceeding in tho the a aggregate regate at any anyone anyone anyone one time line an amon amount equal to 2 per per- of the value alue of oC the taxable property of the state stale as shown by hY th the thelast last hast assessment for state purposes previous to the he Incurring of such in But Bat the state shall never contract any indebtedness except as asin asin i iI I in the next section provided pro in excess of such amount and all moneys arising aris arle- I in ing from loans herein authorized shall be applied solely to the tho purposes for fat which they were obtained I S Sec Sc c. c 2 The secretary of or state is 18 hereby directed to submit this proposed pro pro- posed hosed amendment to the electors of or ortho tho the slate state at the next general Jeneral election election elec eloc- tion ties in the minner m provided by law Soc Sec 3 If adopted by the electors elector of the Ithe state this amendment shall take effect I January 1 1923 I |