Parishwide Proposition No. 4 of 4
(Bond)
Shall the Parish of St. John the Baptist, State of Louisiana (the "Parish"), incur debt and issue not exceeding $58,000,000 of general obligation bonds (the "Bonds"), in one or more series, to run not exceeding 20 years from the date thereof, to bear interest at a rate not exceeding 7% per annum, and to be payable from ad valorem taxes to be levied and collected in the manner provided by Article VI, Section 33 of the Louisiana Constitution of 1974, as amended, and other constitutional and statutory authority, for the purposes of constructing, acquiring and improving public roads, highways and bridges, the Parish waterworks system and other public improvements in the Parish, title to which shall be in the public, with an estimated 11.25 mills to be levied in the first year of issue to pay said Bonds, which amount is 1.25 mills less than the amount currently being levied to pay all existing general obligation bonds of the Parish?