Recreation District No. 2 Proposition No. 2 of 2
(Bond)
Shall Recreation District No. 2 of the Parish of St. Mary, State of Louisiana (the "District"), incur debt and issue bonds to the amount of not exceeding $2,550,000, to run not exceeding 10 years from the date thereof, with interest at a rate not exceeding 6% per annum, for the purpose of acquiring, constructing, improving, maintaining or operating parks, playgrounds, recreation centers and other recreational facilities, together with the necessary furnishings and equipment therefor, title to which shall be in the public, which bonds will be general obligations of the District 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, with no increase in the estimated millage rate to be levied in the first year of issue above the 13.34 mills currently being levied to pay General Obligation Bonds of the District?