Show I CONSTITUTIONAL AMENDMENT I NO 1 I Proposing to Amend Section 1 1 Article XIV of the Constitution of Utah Relating to St State te Indebtedness Indebted Indebted- I ness nessA nessA 1 A concurrent resolution providing I Ian an amendment to Section 1 Article XIV ol or the Constitution of the St State te I of ot Utah relating to state debt limita limita- i tion Uon i Be It enacted by 17 the Legislature o othe othe of the State of ot Utah two-thirds two of alt ah alf I the members elected to each of the two houses concurring therein Section 1 That It is proposed to amend Section 1 Article 14 14 of the Constitution of the tho State of Utah so I that the same will read as follows I Sec 1 To meet deficits or failures In revenue and for necessary I expenditures for tor public purposes Including In in- eluding the erection of public building buildings build build- I ings ing and for the payment of all territorial ter ter-I ter indebtedness assumed by the state the state may contract debts I not exceeding in the aggregate at any anyone anyone I one time an amount equal to 2 per per- of the value of the taxable property of the state as shown by hy the thelast thelast II last assessment for state purposes previous to th the incurring of such In In- But the state shall never I contract any Inda Indebtedness except ex-ept as asIn asin I In the next section provided in excess of such amount and all moneys arising aria aris I aris-I ing big from loans herein authorized shall I be applied solely to the purposes for I which they were obtained Sec 2 The secretary of state is hereby herr directed to submit this pro pro- Posed 1 amendment to the electors of the tho state at tho the next general election election elec doe 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 1023 |