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Show COMPLETE TEXT CONSTITUTIONAL AMENDMENT NUMBER 5 CONSrrurtONAL AMENDMENT NUMBER centum additional, for supplying such city or town with water, artificial lights or sewers. won) if the works for supplying ewe thfl water, light and sewers ouK be ai9 owned and controlled by the municipality Section 3 Submittal to voters. S This Joint resolution ot the Legislature proposes to amend the Utah Constitution to modify language relating to an additional debt limit tor certain municipalities. The oird resolution clarifies the measurement ol the debt limit for counties and how the value ot taxable property is to be determined for purposes of the county debt limit. The Joint resolution makes technical changes, directs the lieutenant governor to submit this proposal to voters, and provides an effective date. This resolution proposes to change the Utah Constitution AMENDS: ARTICLE XIV, SECTION 3 ARTICLE XIV, SECTION 4 ment to the voters ot the state at the next regular general election in the manner provided by law Section 4 Effective date. ttlhfl amendment proposed by lhi&jUQLrfiSiMiaa.l&apptQygl Ly J as follows: s of all Be H resolved by the Legislature of the state of Utah, members elected to each of the two houses voting in favor thereof Section 1 It is proposed to amend Utah Constitution Article XIV, Section 3, to read: XIV, Section 3. Certain debt of counties, cities, towns, school districts, and other political subdivisions not to exceed Debt may be Incurred only for specified taxes Exception purposes. Article or other and of the year unless the proposition to create the debt has been submitted to a vote of qualified voters at the time and in the manner provided by statute, and a majority of those voting thereon has voted in favor of incurring the debt. (1) No debt issued by a county, city, town, school district, political subdivision of the State and directly payable from secured by ad valorem property taxes levied by the issuer debt may be created in excess of the taxes for the current incurred for other than strictly county, city, town, school districL or posed to amend Utah Constitution Article XIV, Section 4, to read: Article XIV, Section 4. Limit of Indebtedness of counties, cities, towns, and school districts Larger Indebtedness may be allowed. II) fal H authorized to create indebtedness as provided in Section 3 of this Article, no county shall may become indebted to an amount, including existing indebtedness, exceeding two per f (b) No city, town, school district, or other municipal corporation, shall may become indebted to an amount, including existing indebtedness, exceeding four per centum of the value of the taxable property therein ; 12) For purposes of Subsection m. the value ie of taxable property shall be ascertained by the last assessment for State and County purposesr previous to the incurring of ewe the indebtedness, except that in incorporated cities the assessment shall be taken from the last assessment for city purposes!: presided, thoi no pa of the mdobtodneoe allewod m tree section eholl be ineurtod for other thou etnotiy eounty. erty, town or oohool dietnot purposes pro ) V ! 13) A city of the first and or second class woeJJ authorized as provided in Section throe 3 of tfiis artielo Article, may be allowed to incur s larger indebtedness, not to exceed four per centum, and any other city of the thud olaae or town, not to exceed eight per. 17 f 4 |