Parishwide School District Proposition
(Bond)
Shall the Parishwide School District of Ascension Parish, Louisiana (the "District"), incur debt and issue bonds to the amount of not exceeding One Hundred Ten Million Dollars ($110,000,000), in one or more series, to run not exceeding twenty (20) years from date thereof, with interest at a rate or rates not exceeding seven per centum (7%) per annum, for the purpose of acquiring and/or improving lands for building sites and playgrounds, including construction of necessary sidewalks and streets adjacent thereto; purchasing, erecting and/or improving school buildings and other school related facilities within and for the District and acquiring the necessary 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 15.08 mills currently being levied to pay General Obligation Bonds of the District?