Section 1. The following proposal to amend Wyoming Constitution, Article 16, Section 5 is proposed for submission to the electors of the State of Wyoming at the next general election for approval or rejection to become valid as a part of the Constitution if ratified by a majority of the electors at the election:

Article 16, Section 5. Limitation on municipal, county or school district debt.

No city or town shall in any manner create any indebtedness exceeding four per cent (4%) of the assessed value of the taxable property therein, except that [an] additional indebtedness [of four per cent (4%) of the assessed value of the taxable property therein] may be created for sewage disposal systems {as the legislature may by law prescribe.}

Indebtedness created for supplying water to cities or towns is excepted from the limitation herein.

No county shall in any manner create any indebtedness exceeding two per cent (2%) of the taxable property therein.

No school district shall in any manner create any indebtedness exceeding ten per cent (10%) on the assessed value of the taxable property therein for the purpose of acquiring land, erection, enlarging and equipping of school buildings.

All limitations herein shall refer to the last preceding general assessment.

Section 2. That the Secretary of State shall endorse the following statement on the proposed amendment:

This amendment will remove the constitutionally specified limit on the amount of debt a municipality can create for sewer projects and would allow the legislature to prescribe by law the debt limit for municipal sewer projects.

*Note: Words in [brackets] indicate deletion of text. Words in {curly brackets} indicate addition of text.