Show proposed constitutional amendment no 3 SENATE CONC concurrent resolution NO 0 A concurrent resolution providing an amendment to section 1 article XIV of the constitution of the state of utah relating to state debt limitation be it enacted by the legislature of the state ot of utah two thirds ot of all the members elected to each of the tha two houses concurring therein section 1 that it Is proposed to amend section 1 article 14 ot of the constitution ution of the state of utah so BO that the same will read as follows section 1 2 to meet meat casual deficits or failures in revenue and tor for necessary expenditures tor for public purposes including the tha erection of public buildings and for forthe forth the payment of all territorial indebtedness assumed by the state the state may contract contra c t d debts L abts not exceeding exceed lne in the ag aggregate agree regate ate at any one time an amount equal to 2 per of the value of the ta taxable x able property of the state as shown by tho the last assessment for state purposes previous to the incurring of such indebtedness debt edness but the state shall never contract any indebtedness except as in the next suction section provided in excess of such amount and all moneys arising from loans herein authorized shall be applied solely to the purposes tor for which they were obtained sec 2 the secretary of state Is hereby directed to submit I 1 this his proposed amendment to the electors of the state at the next general election in the manner provided by law soc sec 3 it if adopted by the electors of the state this amendment shall take effect january 1 1921 approved march 18 23 1919 |