Parishwide School Board Proposition No. 2 of 2
(Sales Tax Renewal)
Shall the Richland Parish School Board, renew the levy and collection of the one-half of one percent (1/2%) sales and use tax authorized at an election held on April 29, 2006 (the "Tax") (an estimated $8,750,000 reasonably expected at this time to be collected from the levy of the tax for an entire year), for an additional term of 10 years, beginning June 1, 2027, with the net proceeds of the Tax to be used to maintain and operate the public schools of Richland Parish: 1. $150,000 plus 10% of each year's net proceeds to the School Board to meet inflation costs; 2. 10% of each year's net proceeds to fund a reserve to pay for expenses of natural disasters, provided that if the balance in such fund exceeds $500,000, then this portion of the Tax may be used for purposes described in subparagraph 1 above; and 3. The balance each year allocated on a per-pupil basis to each school district; provided, however, that in the event of a disaster, the School Board may approve the use of a portion of the Tax to defray the costs of such disaster, with any such amount to be offset in subsequent allocations?