Union Parish

In the event Proposition No. 1 (Bonds) and Proposition No. 2 (Millage) are approved by the voters, shall the Parish School Board of the Parish of Union, State of Louisiana, pursuant to Article VI, Section 29 of the Louisiana Constitution of 1974 and other constitutional and statutory authority, be authorized to levy and collect a tax of one-half of one percent (1/2%) (the "Tax") (an estimated $925,000 reasonably expected at this time to be collected from the levy of the Tax for an entire year) upon the sale at retail, the use, the lease or rental, the consumption, and the storage for use or consumption, of tangible personal property and upon the sale of services in the Parish of Union, State of Louisiana (the "Parish"), all as defined by law, with the net proceeds of the Tax (after paying the reasonable and necessary costs of administering and collecting the Tax) to be used for constructing, improving, maintaining and operating public schools, including paying salaries and benefits of teachers and school employees?

In the event Proposition No. 2 (Millage) and the Sales Tax Proposition are approved by the voters, shall Consolidated School District No. 1 of the Parish of Union, State of Louisiana (the "District"), incur debt and issue bonds to the amount of Thirty-Four Million Eight Hundred Forty Thousand Dollars ($34,840,000), to run twenty-five (25) years from date thereof, with interest at a rate not exceeding eight per centum (8%) 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, including, in particular, a new Junior High/High School at Farmerville, title to which shall be in the public, which bonds will be general obligations of the School Board 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?

In the event Proposition No. 1 (Bonds) and the Sales Tax Proposition are approved by the voters, shall Consolidated School District No. 1 of the Parish of Union, State of Louisiana (the "District"), levy a special tax of twenty-one and sixty-two hundredths (21.62) mills on all property subject to taxation within the District (an estimated $2,200,000 reasonably expected at this time to be collected from the levy of the Tax for an entire year) for a period of ten (10) years, beginning with the year 2007 and ending with the year 2016, for the purpose of constructing, improving, operating and maintaining schools in the District, including paying salaries and benefits of teachers and school employees, said tax to replace and cancel the 19.62 mills of taxes currently being levied (consisting of the 1.64 mills and 2.98 mills taxes authorized at a special election held on May 2, 1998 and the 15 mills tax authorized at a special election held on April 2, 2005)?