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Show CONSTITUTIONAL AMENDMENT NO. 1 Proposing to Amend Section 1, Artlcli XIV, of tho Constitution of Utah Relating to Statd Indebtedness Indebted-ness A concurrent resolution providtni an amendment to Se-nlon 1, Artlcb NIT . of the Constitution of tho Stat' of I tah. relating to state dM limits titm. Re It enacted by th I.eialature ol the State of I' tab. two-tblrde of al Uie members elected to each of tin two houses concnrrlng t heroin: 8cM?tlon 1 That It is proponed b amend Section 1. Article 14, of the Constitution of the State of Utah. that tbe same will read as follows: Sec. i To meet casual deflclte ot failures In revenue, and for necoaaarj expenditures for public purposes, in eluding tbe erection of public build Ittgu, and for the payment of all ter rILoTlnl indebtedness assumed by th taie, the state may contract debta not exceeding In the aggr'ai at any one time, an amount eual to 2 pur eentnm of the Talue of the taxable property oi the state, as shown by tb! last assessment for atato purposes, previous to the Incurring of sucn in eis But the state ahull nevci contract any Indebtedness, except a In the next section provided. In excess of aucn amount, and all moneys arising aris-ing from loans herein uuthotised, shall be applied solely to tbe purr-one (or which they were obtained. Sec 2. Tbe secretary of state is hereby directed to submit thli pro posed amendment to the electors ot the state at the next general election elec-tion la the manner provided by law Sec 5 If adopted by the electors of the state, this amendment shall take affect January 1, 19C3 |