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Show 1 I ONftTITUTIONAU AMENDMEMT NO. 1 Proposing te Amend Section 1, Artlole XIV, of the Constitution of Utah Relating ts gtate Indebtedness Indebted-ness A concurrent resolution providing j an amendment to Section 1, Article XIV, of the Constitution of the State ; of Utah, relating to state debt limita- , tlon. I Be it enacted by the Legislators of ! the State of Utah, two-thirds of all the members elected to each of the two houaes concurring therein: I Section L That it is proposed to amend Section 1. Article 14. of the Constitution of the State of Ut&h, to that tho sane will read as follows: Sec. 1. To meet caiual deficits or failures in revenue, sad for necessary rpendltores lor public purposes. In-cjudiag In-cjudiag tho erection of public build-tries, build-tries, &nd for the payment of all territorial ter-ritorial Indebtedness assumed by the ' state, the state may contract debts, : not exceeding is the aggregate at any one time, an amount equal to 2 per-centnm per-centnm of the value of the taxable property of the state, as shown by the laet assessment for state purposes, previous to the Incurring of such Indebtedness In-debtedness But the state shall never contract any Indebtedness, axcopt as In the next section provided, in excess of such amount, and all moneys arte. ; lag from loans herein authorized, shall te applied solely to the purposes for which they were obtained. Sec. 2s The secretary of state Is hereby directed to submit this proposed pro-posed amendment to tho electors of the state at the rext general elec- , tlon la the manner provided by law. Sec If adopted by the electors of the slate, this amendment shall ta:;e effect January 1, Wl? |