Proposition - Excise Tax

Shall the City of Healdton be authorized to adopt, levy, and assess an excise tax in the amount of one-half percent (1/2%) upon the gross receipts or gross proceeds derived from all goods sold or services rendered in the City of Healdton, Oklahome, taxable as set out in chapter 27, article II, secions 27-17 through 27-37 of the code of ordinances of the City of Healdton as amended and in addition to all other city, county, or state excise taxes adopted, levied, and assessed, and designate that revenue rom such additioanl excise tax be capital improvements for the city limited to water and sewer to include debt service obligations incurred for such capital improvements as well as operating cost assocaited with the operation, care, and maintainance of such infrastructure provided that the collection of such additional tax shall terminate twenty (20) years from the date said tax is firts levied and assessed.