St. Martin Parish

Shall St. Martin Parish School District, Louisiana (the "District"), incur debt and issue bonds not exceeding $40,350,000, in one or more series, to run not exceeding 20 years from date thereof, with interest at a rate not exceeding 8% per annum, for the purpose of acquiring and/or improving lands for building sites and playgrounds, if necessary, 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, and specifically for those projects in the "Capital Improvement Plan" to be approved by the School Board prior to the election, title to which shall be in the public; which bonds will be general obligations of the District payable from ad valorem taxes to be levied and collected in the manner provided by Article VI, Section 33 of the 1974 Louisiana Constitution and statutory authority supplemental thereto, with no increase in the estimated millage rate to be levied in the first year of issue above the 21.50 mills currently being levied to pay General Obligation Bonds of the District?

Shall the Parish School Board of the Parish of St. Martin, State of Louisiana (the "Parish School Board"), under the provisions of Article VI, Section 29 of the 1974 Louisiana Constitution, and other constitutional and statutory authority, be authorized to continue to levy and collect the existing one percent (1%) sales and use tax (the "Tax") approved at an election held on July 21, 1990 (an estimated $6,600,000 reasonably expected at this time to be collected from the Tax for an entire year), in perpetuity from and after May 31, 2014 (the present expiration date for the Tax), with the proceeds of the Tax heretofore or hereafter received by the Parish School Board, to be rededicated for any lawful purpose of the Parish School Board, including but not limited to, capital improvements, technology, security and salaries and related benefits for teachers and other school personnel, with the proceeds of the Tax to be subject to funding into bonds from time to time for any one or more capital purposes, to the extent and in the manor permitted by the laws of Louisiana?