Show II CON CONSTITUTIONAL AMENDMENT NO 1 Proposing to Amend Section 1 Article XIV of or the Constitution of Utah Relating to State Indebtedness Indebted ness nessA nessA nessA A concurrent resolution providing an amendment to Section 1 Article XIV of ot the Constitution of tho the State of ot Utah relating to state debt limita tion Be it enacted by the Legislature o 0 othe ot the tho State of ot Utah two two thirds of al althe althe all the members elected to each of f the two houses concurring therein Section 1 That It Is proposed to amend mend Section 1 Article 14 of tho the Constitution of the State ot of Utah so 80 that tho the same will read as as' as follows Sec 1 To meet ca casual ual deficits or failures In revenue and for necessary expenditures for public purposes Including In in- clu eluding the erection of public build ings lags and for the payment of ot all aU territorial ter ter- Indebtedness assumed by the tate state the state may contract debts not exceeding In tho the aggregate at any anyon anyone anyone on one one time timo an amount equal to 2 2 per- per of ot the value of the taxable property of ot tho the state as au shown b by the thelast thelast last assessment for state Blate purposes S previous to the tho Inc Incurring ning of such In In- But the state shall never contract an any indebtedness except aa as asIn In the n next section provided In excess I of ot such Buch amount and all moneys aria arts Ing Lug from loans herein authorized shall be applied solely to the purposes for far which they were obtained Sec c 2 2 The secretary of ot state la is here hereby y directed to su submit this proposed pro posed amendment to the electors of ot th tM state at tho the next general elec elee election tion don In the manner provided by law Sec See 3 If It adopted by the electors ot of the state this amendment shall take fake effect January 1 1923 1023 |