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Show t CONSTITUTIONAL AMENDMENT NO. 1 Proposing to Amend Section 1, Article XIV, of the Constitution of Utah Rolstlisg to Starts Indebtedness Indebted-ness A conTirrnt resolution providing an amendment to Section 1, Article Xrv, of the Oonstltatlon of the State of Utah, relating to state debt limitation. limita-tion. Bo It enacted by the Lelalature of : the estate of Utah, two-thirds of sU the members elect ed to each of the two house concvrrlnc thoroin: Section 1 That it it propoaod to amend Section 1, Article 14, of the Constitution of the Stat of Utah, so that tho same will read (uj follows Sor. 1 To meet casual deficits or ' failures in revenue, and for necesaary crpendrtures for public purpose. In eluding the erection of public building, build-ing, and for the payment of all territorial ter-ritorial indebtedness assumed by the state, the state may contract debts. nnt Tcrwvi!n - In lh i'Trln nr nnv oue time, an amount equal to 2 per-cntum per-cntum of the reloe of the tsxablo property of the state, as shown by tho Ips'. assessment for s'ate purposes, previous to the lncorrlntr of such Indebtedness In-debtedness Bat the state shall oovor contract any Indebtedness, rnrcept as In the next section pTovidod. In excess of such amount, sod all moneys aria, lng from loans herein authorized, shell he applied aolely to the purposes for which they were obtained. Sec. 1 The secretary of state is hereby directed to snbmlt this proposed pro-posed amendment to the electors of the state at the next general election elec-tion la the manner pro-rid ed try law Ssc 8. If adopted by the electors of the state, this amendment shall sake effect January 1, 1923. |