| Show CONSTITUTIONAL AMENDMENT NO 1 Proposing to o Amend Section 1 Article XIV of the Constitution of Utah Relating to State indebtedness Indebted indebted- I ness nessA nessI I S A concurrent resolution providing an amendment to Section 1 Article XIV of the Constitution of tho the State of riah tah tah relating to state debt limita I tion Io Be It enacted by hy the Legislature o 0 othe othe the State of at Utah two thirds of at a atho atho alt tho the members elected to each of ot the two houses concurring therein S Section 1 That It la is proposed to amend Section 1 Article 14 of oI f the Constitution of the Slate State of at Utah so I that tho same me will read as follows Soc Sec 1 TO Td meet casual deficits or failures in revenue and for tor necessary expenditures for public purposes including in eluding the tho erection m of ot public buildings build build- Inga ings and for the payment of all aU territorial ter ten Indebtedness assumed by the state th tho j state may contract debts not exceeding In tho aggregate at any anyone anyone anyone one time an amount equal to 2 per- per of the tho value of ot the taxable property of the Uie state as shown by thelast thelast the thelast last assessment for state tate purposes previous to the tho incurring of such In in- But nut the state shall never nevor contract any indebtedness except as asIn asIn In the next section provided in excess I of ot such amount and all moneys arising aria aris In ing from loans herein authorized shall shaH be applied solely to the tho purposes for which they were obtained Sec Soc 2 The secretary of state la It hereby herby directed to submit this proposed proposed proposed pro pro- posed amendment to the electors of ot tho the state at the next general election election elec elee- tion in tho the manner provided by law Soc Soe 8 3 If adopted by the electors of at tile the state elate this amendment shall take effect January 1 1023 1923 |
