City of Lafayette, Prop. #1 - 1% S&U (1961 Sales Tax Bond)- PC
What the ballot said
Shall the City of Lafayette, State of Louisiana (the "City"), incur debt and issue not exceeding One Hundred Thirty-Seven Million Eight Hundred Thousand Dollars ($137,800,000) of sales tax revenue bonds to mature over any term or terms not exceeding twenty-five (25) years from date thereof, to bear interest at a rate or rates not exceeding ten per centum (10%) per annum, to be sold at par, premium or discount, and to be issued in accordance with the provisions of Sub-Part F, Part III, Chapter 4, Title 39 of the Louisiana Revised Statutes of 1950, as amended, and other constitutional and statutory authority, for the purpose of purchasing, constructing, acquiring, extending and/or improving public works or capital improvements for said City or any portion thereof, including any necessary sites, equipment and furnishings therefor, as established and set forth in the Lafayette Consolidated Government's then current Capital Improvement Budget adopted after public hearings held in the manner contemplated by the Home Rule Charter of said Consolidated Government, paying the costs of issuance of such bonds and establishing a reserve for the payment thereof; provided, however, that such bonds shall be issued in such issues or series not exceeding the following aggregate principal amounts, including bond issuance costs and reserves, for each of the following lawful purposes: $113,400,000 for streets and bridges; $20,050,000 for drainage facilities; and $ 4,350,000 for recreation facilities; said bonds to be payable from and secured by an irrevocable pledge and dedication of the avails or proceeds of the one percent (1%) sales and use tax heretofore levied and now being collected in said City pursuant to elections held in said City on May 13, 1961, November 20, 1965 and March 22, 1977, subject only to the prior payment of the reasonable and necessary costs and expenses of collecting said tax, and to be issued on a parity with the outstanding sales tax bonds payable from said tax?
No precinct map: Lafayette Parish's precinct lines changed, and the published boundaries don't match these results.
6,797 votes cast.