The maximum school tax rate of 120 cents upon the dollar of the property grand list of the City, as provided for in section 102 of this charter, shall, notwithstanding the provisions of section 102, be 100 cents upon the dollar of said list, unless a majority of the legal voters of said City, present and voting thereon at the annual City meeting to be held on the first Tuesday in March 1950, shall vote favorably upon the following question to be voted upon by ballot: "Shall the provisions of section 102 of the City charter providing for a maximum school tax of 120 cents upon the dollar of the property grand list of the City be approved?"