| Show I CONSTITUTIONAL AMENDMENT I NO 1 Proposing to Amend Section 1 Article X XIV I V of th the e Constitution of Utah Relating to State Indebtedness Indebted ness nessA A concurrent resolution providing pro an amendment to Section 1 I Article XIV I of the Constitution of the State of or t tall relating to state debt limita tion Be He it enacted by hy the Le Legislature e 0 ethe of the State of Utah two-thirds two of ot al althe althe all the members rs elected to each of the two houses concurring therein Section 1 That It is proposed to amend Section 1 Article 14 of the Constitution of or the State of f Utah so 80 I that the same ame will read as follows S Sec 1 T To J meet casual deficits or failures in revenue and for Cor necessary expenditures for Cor public purposes including in in- eluding the erection of public buildIngs buildings buildings build- build Ings and for the payment of all tern tel Indebtedness assumed by the tate state the state may contract debts not exceeding in tho the aggregate at any anyone anyone anyone one time an amount equal to 2 j per per- er- er of ot the value of the taxable property of or the state as shown by the thelast thelast last assessment for state purposes previous to the incurring of ot such In In- But the state shall never contract any indebtedness except ash ashin as i In tho the next section provided in excess of ot such amount and all moneys aria aris I In ins ing from loans herein authorized shall be applied solely to the tho purposes for tor which they thoy were obtained Soc See 2 The secretary of ot state IB la hereby herChy directed to submit this pro pro- 1 amendment to the electors of ot the tho state slate at the next general election election elec elec- election tion in the manner provided by law Sec 3 If adopted by hy the electors of the state this amendment shall take effect January 1 1923 |
