Show Pro proposed nosed constitutional amendment no 3 SENATE concurrent resolution N NO 0 0 A concurrent resolution providing an amendment to section 1 article XIV of the constitution of the state of utah relating to state debt limitation r be it enacted by the legislature ot of the state of utah two thirds ot of all the gambers elected to each of the two houses concurring therein section section 1 that it Is proposed to amend section 1 article 14 of the con at ot of the state of utah so that the same will read as follows section I 1 to meet casual deficits or failures in revenue and tor for necessary expenditures for public pu the erection of public build inga and aid for the payment of all territorial ti ta Indebted nde ceus assumed by the st state the state may contract debts not beding ee ding in the ag aggregate regate at any one time an amount equal to 2 per of the value of the taxable property of the state elate as shown by the last assessment for state purposes previous to the incurring of such indebtedness debt edness but the state shall never contract any indebtedness except 1 as k 8 in the next section provided in e excess x of such amount and all moneys arising from loans herein authorized shall be applied solely to the purposes tor for which they wre were obtained sec sea 2 the secretary of et state to Is hereby directed to submit this proposed amendment to the electors of the state at the next general election in the manner provided by law see sec 3 it adopted by the electors elector of the state this amendment shall take effect january 1 ml 1921 approved march 18 1019 |