Show I CONSTITUTIONAL AMENDMENT NO 1 Proposing to Amend Section 1 Article e XIV of the Constitution of Utah R Relating lating to State Indebtedness Indebted Indebted- nessA ness nessA nessA A concurrent resolution providing nn on amendment to Section 1 Article XIV of ot the Constitution of ot tho the State of oC Utah Itah relating to lo state debt limits limita tion Be Ile it enacted by hy the Legislature o 0 of tIle the State of Utah two-thirds two of al all the tho members elected to lo each of or the two houses concurring therein Section 1 1 That it is proposed to amend amond SectIon 1 Article 14 t of the Constitution of tho the State Stale of Utah Ulan BO so that the same will read road as follows Se Sec 1 To Td meet casual deficits or failures in revenue and for tor necessary expenditures for tor public purposes Including including including In in- tho erection of at public build ings Sags and for the payment of all aU territorial territorial territorial ter ter- indebtedness assumed by thoe the tha tate hate e te the state stale may contract debts debu not exceeding In tho the aggregate at any anyone anyone anyone one time Ume an amount equal to 2 per per- of the value of the taxable property properly of tho the state as shown by the thelAst thelast thelast last assessment ment for tor state purposes previous to the tho Incurring of auch uch in m- But the state stale shall never nover contract any Indebtedness except as asIn asIn In the ne next nest t section provided in excess of such Buch amount and ana all moneys aria aris arising ing from loans inane herein herem authorized shall shan be bo applied solely to the purposes for which they were obtained Sec 2 The secretary of state is hereby Y directed to submit this proposed proposed pro pro- proposed posed amendment to the electors of tho the state tate at the ne next t general election elee- elee tion in the manner provided by by bi bylaw law Sec 3 If It adopted by the electors of the state this amendment shall take effect January 1 1923 |