OCR Text |
Show Proposed Constitutional Amendment Amend-ment No. 3 SENATE CONCURRENT RESOLUTION A concurrent resolution providing an amendment to Section I, Article XIV. of the Constitution of the State of Hill l lnh. relating to State debt limitation MH Be it enacted fay the Legislature of the state of Utah, two-thirds of all the mem- B bers elected to each of the two Houses 1639 concurring therein: Section 1. That It Is proposed to mend BWB Section 1, Article 1-1. of the constitution BBM of the State of I'tah. so that the samo 199 will. read ns follow H Section 1. To meet casual deficits or H failures In revenue, and for necessarv rx 9 pendlturcs for punlic purposes. Including HHl the erection of public buildlncs. nnd for IE tho payment ot all teriitotlal indebtedness V assumed by the State, the State may con- BB tract debts, not exceeding in the acgre. AHC gate at any one time, an amount equal to Bale t percentum of the value of the taxable Bj property of the State, ns shown by H the last assessment for Sta-tc purposes. &9Ah pci-vlous to ihe incurring of such Indebt- H6h edness. But the State shall never con- BBpg tract any indebtedness except as In the next section provided, In excess of HBH i : h amount and all moneys arising BBSs from loans herein authorized shall be ap- BR i i oiel to the purposes for which they MB were obtained. IH Phi Secrets rj of SI I e Is he rc bj 'I directed to submit this proposed amend- HB ment to the electors of the State at the ktttvic next general election in tho manner pro- SBl-15 vldcd by law. HISa See, 3 If adopted bv the electors of Ect! the State, this amendment shall take ef- Approvi -J Siarch 18, 1910 |