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Show L COMPLETE TEXT OF PROPOSITION NO. 4 STATE SCHOOL FUND AMENDMENTS I"A; i.'iM.i! ',I. ' s '1 'll UK I h !! TO eonatrued as a limitation ht the rate of taxation m tangible property for district school purposes and not on the amount KiU'.M F SOI RCKS FOR of funds available therefore antf, further, no moneys allocated LK(il sl.ATI RK PROPOSING (iNsTlirnnX. !l ' ilir. Oh ' M MM 1. KKIAT1NG TO WHIHK I MFORM SCHOOL A f t A ilAt..M e ToTTj tn laXai Iil H! " l:nl"s.s Li s ' mm III Mr n MKI) I thirds of .1 i InSi at ofl'tali, 1mi q: v;,;! m "ii i" '.! h nj tlm two himsesvoting v ' i' . 'n .unond Artii ' r 'll x h-- . in favor of the Sec i.lii i Km proyjded by statute fur the (a) proceeds of the ''it- - l..r been ot ma hereafter he gianted ii s',,i(.(! I,, it Sate. for the support of the and secondary schools, (b) !r;: eiai i f cefi'rmr 'i cl the net proceeds of the sales of i'O-r- ' -i ( : a' ' JjX .id l.i mii r .it mn. i ii i. iMvingwiihinihesiatesandsoldhy .'i-- i ipn m to the admission of this state .ol risen lies derived from the use of cm si nnd or state lands, other it t . i! i .r i.t tier spei ific purposes, and fdl : 'Li. ' ; i "t-- s o ' i'v i. ; t ' M 'i " e. in ! ' ' a- - at -- a. n t I to Oie legislature, shall be u.d to he i ailed the State School I, Olds, shall be expended for the I pi,, lii fe.e- . ee. ' e jn.i . .i-- arid secondary Me sefeed Ftttfd-t-h- e proceeds jt.ff.ie to fpe strh by- the escheat or e this stater the n( noefr and the pff.eeeds the safe He- - brw- - of .... .j ... ttte4 . a , ........ .. , - - .;s-- - .e.f nr-- e-e ,. .... - s . . -r- -i if -- e fOerl - property fromsehool anted for spots fie el ef-- which h-- n-- eo et .... g M..-re'- serf fstot - . than 'terse r te t S-- Section 5. amendment effect July The prosisi. "S l! lit ion -- 7 A CTT . A A nTTTTrTxr V 111 aiu . X, Sec. 5, of the Section The lieutenant governor is directed to submit this proposed amendment to the electors of the State of Utah at the next general election in the manner provided by law. a htftd to he School support of the ate jrad nppoptoned tn poo-ni- AW HUM T Section 3. Statutes and regulations in existence on the effective date of this amendment that are riot inconsistent with the amendment shall continue in force and effect until repealed or changed by statute. of t.,.-e-h.nn- A A. Dll Sec. 5. The proceeds of the sale of lands reserv ed by an Act of Congress, approved February 21st, 185"), for the establishment of the University of Utah, and all the lands granted by an Act of Congress, approved July 16th, 1894, shall constitute permanent funds, to be safely invested and held by the State; and except as provided by statute for the necessary cost of land administration, the income thereof shall be used exclusively for the support and maintenance of the different institutions and colleges, respectively, in accordance with the requirements and conditions of said Acts of Congress. 'p.'iao-- i.' 1 ftM L TTT Section 2. It is proposed to amend Article Utah Constitution, to read: ,i 'li'j't . fl A (2) There js established a Uniform School Fund which shall consist of revenue from three sources: (a) interest from the State School Fund; (b) except as appropriated by the legislature for the State School Fund, revenues derived from the use of renewable resources from school or state lands, other than those granted for specific purposes; and ( c) other revenues which the legislature may appropriate. If the interest generated by the State School Fund exceeds the amount of interest required to fund the Uniform School Fund. as appropriated annually by the legislature, the excess shall pass through to the General Fund. The Uniform School Fund shall be maintained and used for the support of Ute states public elementary and secondary schools and appropriated as the Legislature shall provide. ARTICLE X. SFCS. 3 tsriTCTIi'. i A A. JJrtinvu bah he 26 If approved by the electors of tdie stale the proposed by this joint resolution shall take 1987 |