Show TEXT COMPLETE STATE A JOINT RESOLITION AMEND THE EDUCATION THE STATE OF THE UTAH SCHOOL FUND PROPOSING LEGISLATURE RELATING CONSTITUTION MODIFYING THE AND REVENUE THE OF PROPOSITION NO AMENDMENTS construed as a limitation in the rate of taxation on tangible property for district school purposes and not on the amount of funds mailable therefore and further no moneys allocated te the Uniform School Fund shall he considered in fixing the TO TO PUBLIC SOURCES FOR SCHOOL UNIFORM rates of taxation FUND THIS RESOLUTION AND 5 Be it PROPOSES OF THE UTAH TO AMEND ARTICLE X SECS CONSTITUTION by Section I It is proposed to amend Article to read: X Sec 8 specified m Seetien ? of Article XIU l(2) There is established a Uniform School Fund which shall consist of revenue from three sources: fa) interest from the State School Fund: ifbl except as appropriated by the 3 the Legislature of the State of Utah of all mem here elected to each of the two houses voting in favor thereof: resolved 4 FUND SCHOOL legislature for the State School Fund revenues derived from use of renewable resources from gchool or state lands other than those granted for specific purposes: and fd other revenues which the legislature may appropriate If the interest generated by the State School Fund exceeds the amount of interest required to fund thellniform School Fund the of the Utah Constitution 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 the state's Sec 3 (1) (The! Except as provided by statute for the necessary cost of land administ ration (a) proceeds of the sales of all lands that have been or may hereafter be granted by the United Stated to this state for the support of the common public elementary and secondary schools i(b) and five per centum 5 of the net proceeds of the sales of public elementary and secondary schools and appropriated as the Legislature shall provide Section 2 United States public lands lying within the states and sold by the United States subsequent to the admission of this state It Is proposed Utah Constitution Sec to amend Article X Sec S of the to read: the sale of lands reserved by an Act of Congress approved February 21st 1855 for the establishment of the University uf Utah and all the lands granted by an Act uf Congress approved July 16th 1834 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 into the Union (c) all revenues derived from the use of nonrenewable resources from school or Btate lands other than those lands granted for other specific purposes and fd) other revenues as appropriated by the legislature shall be and remain a permanent fund to be called the State School Fund the interest of which only shall be expended for the support of the common public elementary and secondary schools The interest on the State School Fund the proceeds of ah property that may accrue to the state hy the escheat or forfeiture ah unclaimed shares and dividends of any S The proceeds of exclusively for the support and maintenance Of the different institutions and colleges respectively in accordance with the requirements and cunditions of said Acts of Congress corporation incorporated under the laws of this atate the proceeds of the sales of timber and the proceeds of the sale or other disposition of minerals or other property from ochool aod state lands other than those granted for apeetfie Section 8 Statutes and regulations in existence on the effective date of this amendment that are not inconsistent with the amendment shall continue in force and effect until repealed or changed by statute purposed shall with such other revenues as the legislature may from time to time allot thereto constitute a fund to he known as the Uniform behool f und which Uniform School Fund shall he maintained and used for the support of the Section 4 Jhe lieutenant governor is directed to subnit this proposed amendment to the electors of the State ofltah at the next general election in the manner provided bylaw common and puhlte schools of the state and apportioned In such a manner as the fegtsfatare shall provide: The pmvhoens of Section Article UH4 of this Gonstitution shoH he Section 5 If approved by the electors of the state the amendment proposed by this joint resolution shall take effect July 11387 26- |