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Show CONSTITUTIONAL AMENDMENT NO. 1 Propoelnfl to Amend Section 1, ArtloN XIV, of the Constitution of Utah , Relating to 8tato Indebted-I Indebted-I nest A concurrent resolution proridlnj en amendment to Section 1, Artlcl JCrV, of tho ConsUtntion of tho State cf UUh, relatlnc to state debt llmlta, Hon- Be it enacted by the Legislature ol the State of Utah, two-thirds of aU th members elected to eaoh of th two housoa concurring therein: Section L That it la proposed tc amond Section 1, Article 14, of th Conetitutlon of the State of Utah, that the same will read as follows : 6ec L 'To meet casual deficits ? failure In revenue, and for necessary expenditures fpr public purposes, Including In-cluding tho erection of public buildings, build-ings, and for tho payment of all ter-j ter-j ritorlal Indebtedness assumed by th ' state, the state may contract debts, not exceeding in the aggregate at any one time, an amount eqnal to 2 per centum of the value of the taxable proporty of the state, as shown by the last assessment for state purposes, previous to the Incurring of such Indebtedness. In-debtedness. But tho state shall neror contract any lndobtodneas, except as In tho next noctlon provided, In excess of sn'.h amount, and all moneys arts-ln;; arts-ln;; from loans herein authorized, shall applied solely to tho purposes tor which thoy were obtained. Soc. 2. The secretary of state Is hereby directed to submit this proposed pro-posed amendment to the electors of tho Btato at the noxt general election elec-tion In the manner provided by law. Sec, 8." If adopted by tho electors of the stato, this amendment shall take effect January 1, 1923. |