Lake Charles Proposition Number 1 - Tax in Lieu of

Shall the City of Lake Charles, Louisiana (the "City"), under authority of La. R.S. 47:338.1, et seq., be authorized to levy and collect within the City, in perpetuity, a tax of two percent (2%) ("Tax") beginning July 1, 2024, with collections from the tax estimated to be $54,000,000 for one entire year, upon the sale at retail, the use, lease or rental, consumption and storage for use or consumption of tangible personal property, and upon sale of services as defined in La. R.S. 47:301 to 47:317, inclusive, with proceeds of the Tax dedicated and used for funding the operation, maintenance and capital expenditures of the fire, police, public works and other departments of the City, including the payment of the salaries and benefits of City personnel, economic development or any other municipal purposes, and which Tax will be in lieu of two 1% (collectively 2%) sales taxes currently being levied within the City pursuant to elections held within the City on May 3, 2014 and November 8, 2016 which are currently scheduled to expire February 29, 2040 and December 31, 2026, respectively?