Show proposed constitutional amendment no 3 SENATE resolution NOG NO 0 A A concurrent alon an amendment to section 1 article XIV of tho ot of tho the state of utah relating to state dett debt limitation 4 be it enacted a bythe by the legislature of the th a state of utah two thirds of all the members elc elected ted to each of the two blouses therein section 1 that it Is proposed to amend section 1 article 14 of the constitution ution of the state slate of utah so fo that the same will rea as follows S section 1 domeet to meat casual deficits or failures in rate revenue nue and for necessary expenditures tor for public Pue purposes poses including the e erection action of public build into and for the payment of all territorial assumed by the state the stati stat may contract debts not ex Leeding lh 11 the ag agre regate frate at any one time an amount equal to 2 per antum of the th value of the taxable property of the state as shown by t tha 13 last assessment ases for state purposes S previous to tk th incurring of su such ch indebtedness debt edness but the state stat shall never eye contract any indebtedness Indebted neso except as in the next section provided in excess of such amount and all moneys arising from joans herein authorized shall be applied solely to the purposes for which they were obtained sec 2 tile tho secretary of state Is hereby directed to submit tb this i proposed amendment to the elec electors tors or of the state aith at the next general election in the manner provided by Is law W see sec 3 if K adopted by tho the electors of the state this amendment 0 nt s shall ll 11 a I 1 take effect t janvary 1 1921 approved march 18 1916 2919 |