To attract and retain qualified teachers, improve and maintain instructional programs and small class size, shall Burlingame Elementary School District increase its current parcel tax to $297/year/taxable parcel, with a cost of living increase of not more than 4% per year (with exemptions for parcels owned and occupied by persons 65 years or older) for eight years beginning July 1, 2002, and shall the District's annual appropriations limit be raised by such amount?