OCR Text |
Show Proposed Constitutional Amendment Amend-ment No. 3. SENATE CONCURRENT RESOLUTION coiicnricnt resolution providing an j smendmenl to section 1, Article XTV. JRH of the Constitution of the state of f . '" Utah, relating to State debt limitatron. llaaLiil lie it enacted by the Legislature of the IHhBh Strite of i'tah. two-thirds of all the mem- hers elec ted to each of the two HOUSSS pSjw concurring therein. BflBWH action l That it ir proposed to amend Section 1. rtlcie h of the constitution Wcl'sT of the stnt,. of i t-,h ?o that the eamo will read as follows,. HfKs Section 1. To meet casual deficits or rWKai failures in revenue, and for necessary ex- BKi pendltures tor public purposes, includirig ffaHiKil ihe i't f putlii buildings and for tfjHvfiJ the payment of all territorial Indebtedness t1 assumed by the Stat the State may con jlffliijal tract debts, not, exceeding In th aggre- alfiH SCc Knte ni any one time, an mount equal to llwwi 2 psreentum of the value of the taxable iIHnSs? property of the State, as shown by bbbbbbB the last assessment for State purposes. IBSnr previous lo the incurring of such Indcbt- fifffiv edns. But the state ahall never con- sbsmK tract n Indebtedness except as in ttis bsBBsE next section provided, In excess of 8 such amount, nnd all moneys arising 3jHfr from loans herein authorized shall he ap- StMMHBj pile l solely to the purposes for which they oatEs were obtained. IisebIR Sec. 2 The Serreiar- of State is hereby BMBM directed to submit this proposed amend HkKS ment to the electors of the State at tho BBflvE next genfinl election in the manner pro- 325?M-?r'-' ided by law. gjsffllFP Sec. 3. If adopted by the electors of glffili ' the State this amendment shall take cf- rfi IL'V feci Januar) I. ppro ad March 18, 1919. |