The limitation upon the tax provided by section 99 of this charter for City purposes shall be 200 cents upon the dollar of the property grand list, in the event that a majority of the legal voters of the City of Burlington 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: "Shall the City Council be authorized to assess annually upon the property grand list for City purposes a tax which shall not exceed 200 cents upon the dollar thereof?"