Show I CONSTITUTIONAL AMENDMENT NO 1 Proposing to Amend Section 1 Article XIV of the Constitution of Utah Relating to State Indebtedness Indebted ness nessA nessA nessA A concurrent resolution providing an n amendment to Se Section 1 I Article XIV of f the Constitution of tho State of I itah tab tah relating to to testate state d debt bt limita limita- tion i Bo no it enacted by the Legislature o othe 0 of the tho State of at Utah two thirds of or al althe althe all the members elected to each of the two houses concurring therein Section 1 That it Is proposed to amend Section 1 Article 14 of tho the I Constitution of the State Sute of Utah BO so that the same will wUl read as tollo follows s i Sec 1 T To meet casual deficits or failures In revenue and for necessary I expenditures for public purposes Including Including In In- eluding the erection of public buildIngs buildings build build- ings and for the payment of all aU territorial tar ter Indebtedness assumed by the state the state slate may contract debts not exceeding In tho aggregate at any anyone anyone i one time an amount equal to 2 per- per of or the value of the taxable i property of or the tho state as shown by the thelast I last assessment for state purposes previous to the Incurring of such In I But the state shall never I contract any Indebtedness except as asin asin I in the n next section provided In excess of such amount and all aU moneys arising aria aris I In ing from loans Joans herein authorized shall be applied solely to the purposes for tOt I which they were were- obtained Sec 2 2 The secretary of or state is la hereby directed to submit this proposed pro pro- posed loBed amendment to the electors of tho the state tate at the next general election election elec else I tion in the manner provided by law Sec 3 If adopted by the tho electors I of Dr the state this amendment shall take toko effect January 1 1 1023 1923 3 1 |