Show proposed constitutional amendment no 3 SENATE resolution NO 0 A concurrent resolution providing an amendment to section 1 article XIV of the constitution of the state ot of utah relating to state debt limitation be it enacted by the legislature I of the state of 0 utah two thirds of 0 all the members elected to each of 0 the two houses concurring therein section 1 that it Is proposed to amend section 1 article 24 ot of the constitution sti ution of the state ot of utah so that the same will read as follows section 1 to meet casull casual deficits or failures allures in revenue and fo for r feces nary eary expenditures tor for public purposes including the erection ot of public buildings and for the payment of 0 all territorial indebtedness assumed by the state the state may contract debts not exceeding in the at ag regate a at t any one time an amount equal to 2 per ol of the value of 0 the taxable property of the state as shown by the last assessment tor for state purposes previous to the incurring of such indebtedness debt edness but the state shall never contract any indebtedness except a as in the next section provided in e excess x of such amount and all moneys arising from loans herein authorized shall be applied solely to the purposes for or which they were wera obtained sec bee 2 the secretary ot of state Is 1 hereby directed to submit this proposed amendment to the electors of the state at the next general election in the manner provided by law see sec 3 if adopted by the electors of the state thle this amon amendment dment shall take effect january 1 1921 approved march 18 1919 |