To maintain and enhance educational excellence, high academic standards, class size reductions, quality programs and retain outstanding teachers, shall the Woodside Elementary School district continue its current special tax of $196 beginning July 1, 2001 for eight (8) years adjusted annually by changes in the Consumer Price Index, not to exceed 4% annually, to increase the District's appropriations limit accordingly, with exemption for parcels owned and occupied by persons sixty-five (65) years of age and older.