Lake Charles Proposition Number 2 - 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, a tax of one half of one percent (0.5%) ("Tax") for a period of twenty-five (25) years commencing January 1, 2025, with collections from the tax estimated to be $13,500,000 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 construction, acquisition, maintenance and repair of the City's roads, bridges, drainage, sewerage systems, operating and other capital expenditures of the fire, police, public works and other departments of the City, economic development or any other municipal purposes, which Tax will be in lieu of the two 0.25% (collectively 0.5%) sales taxes currently being levied within the City pursuant to elections held within the City on May 3, 2014 and October 24, 2015 which are currently scheduled to expire March 31, 2025 and December 31, 2030, respectively?