School District No. 5 Proposition No. 2 of 2
(Bond)
Shall School District No. 5 of the Parish of Jefferson Davis, State of Louisiana (the "District"), incur debt and issue bonds not exceeding $1,750,000, in one or more series, to run not exceeding 20 years from date thereof, with interest at a rate not exceeding 6% per annum, for the purpose of financing capital expenditures for school purposes for the District, including constructing, acquiring and/or improving schools and related facilities, together with equipment and furnishings 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 estimated increase in the millage rate to be levied in the first year of issue above the 3.10 mills currently being levied to pay General Obligation Bonds of the District?