City of Shreveport Proposition No. 3 of 3
Shall the City of Shreveport, State of Louisiana (the "City"), incur debt and issue bonds, in one or more series, not exceeding the amount of Seventy-Seven Million Eight Hundred Sixty Thousand Dollars ($77,860,000), to run twenty (20) years from date thereof, with interest at a rate or rates not exceeding nine per centum (9%) per annum, if taxable and not exceeding seven per centum (7%) per annum, if tax-exempt (the estimated millage rate to be levied in the first year of issue is 4.89 mills), for the purpose of constructing, acquiring, and/or improving streets, highways, bridges, and drainage systems, and appurtenances thereto and acquiring the necessary land or rights therein, equipment and furnishings therefore, which bonds will be general obligations of the City and will be 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?