Show proposed Propos jd constitutional amendment no 3 SENATE concurrent nE sOLUTION OH so a A concurrent resolution providing an amendment to section 1 article XIV V athe 0 octha constitution of the state ot of utah ulah relating to state debt limitation 13 it enacted by the legislature ot of the state of 0 utah tw two thirds ot of all the members elected to each ot of the two houses concurring therein section I 1 that it Is 13 proposed to section 1 article 14 ot of the con tik ution ot of the state of utah so that the same will read as follows section 1 to meet casual deficits or failures allures in revenue and for necessary expenditures for public pue purposes poses including eludIng In the erection 0 of public buildings and tor for the payment of all territorial indebtedness assumed by the state slate the state may contract debts not nol exceeding lit I 1 the ac regate at any one time an amount equal to 2 per of the value of the taxable property of the state as shown by the last assessment asies for state purposes previous to the incurring of such indebtedness debt edness but the state call never c contract any indebtedness except as a in the next section provided in excess as of such amount and all moneys arising from loans herein authorized shall be applied solely to the purposes tor for which they were obtained S sec c 2 the secretary of state 1 Is hereby berby directed to submit this proposed amendment to the electors ot of the state at the next general election in the manner provided by law see sec 3 if adopted by the electors of the sta state t a this amendment shall take eff effect act january 1 1921 approved march 18 28 1919 1219 |