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Show Proposed Constitutional Amend- ment No. 3. : SENATE CONCURRENT RESOLUTION f3 L , A concurrent resolution providing an amendment to Section 1. Article XI V I of tbe Constitution of the State of t'tah. relating to State, debt limitation lie it enacted by the Legislature of tha State o! T'tah two-thirds of all the mem b r-. elo-ted to each of the two Houscj concurring therein. i Section I. That It Is proposed to amend Section 1, Article 14. of ihe conatltution 'of the State of l'lah, so that the same will read as follows: I Section 1 To meet casual deficits or LH failures In revenue, and for necessary ex pendttures for public purposes. Including LH the erection of public buildings, snd for . the payment of nil territorial Indebtedness assumed by the State, the State may con i tract debts, not exceeding In the aggre-gate aggre-gate at any one time, an amount equnl tn . i percentum of the value, of the taxable bjbjV property of the State, as shown by the last assessment for State purposes, ! previous to Ihe Incurring of such Indcht SdUQSS, But the State shall never con-i con-i tract nny Indebtedness except as tn tho i next section provided. In excess of such amount and nil moneys arising Ifrpm loans herein authorized, shall be ap riled solely to the purposes for which thev were obtained. Sec. 2. The Secretary of State Is hereby directed to Submit this proposed amend : ment to the Glee ton of tin State at tha next geneml election In the manner pro- law. IH Sec, 3. If adopted hy the electors ot the state, this amendment shall take ef-feet ef-feet January 1. 1921. Approved March 18. 1919 |