Road District No. 101 Proposition
Shall Road District No. 101 of the Parish of Tangipahoa, Louisiana (the "District"), incur debt and issue bonds in an amount not to exceed Four Hundred One Thousand Eight Hundred Dollars ($401,800.00), to mature no later than twenty (20) years from the date of issuance thereof, bearing interest at a rate not exceeding four percent (4%) per annum, for the purpose of opening, constructing and improving public roads, highways and bridges in the District, title to which shall be in the public, which bonds will be general obligations of the District and payable from ad valorem taxes to be levied and collected in the manner provided by Article VI, Section 33 of the Constitution of the State of Louisiana of 1974, and statutory authority supplemental thereto with an estimated three (3) mills to be levied in the first year to provide for the payment of principal and interest on said bonds?