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151 as provided by the laws of the State of California , and by said ordinance ; and WHEREAS , on this day , to-wit , Monday , the 30th day of September , 1935 , at the hour of eight o ' clock P . M. , the Council of said City of Redwood City met at its usual place of meeting and has canvassed the returns of said special election as required by law, and the result of said canvass is found to be as hereinafter stated and set forth: IT IS HEREBY RESOLVED , DETERMINED AND DECLARED by the Council of the City of Redwood City , as follows : 1 . That the proposition voted upon at said special election was as follows : PROPOSITION : Shall the City of Redwood City incur a bonded in- debtedness in the principal sum of $425 ,000 . 00 in accordance with the provisions of the ordinance calling the election at which this proposition is submitted , for the object and purpose of acquiring the following municipal improvement of said City , to-wit : A municipal investment bond fund to be used for the purchase of municipal securities or evidences of debt either of said. City of Redwood. City or of boroughs or districts therein; including municipal bonds of said City, bonds of boroughs or districts therein or any bonds or liens arising out of the construction or acquiring of public improvements by local assessment within said municipality? 2. That by said ordinance calling said special election it was provided that for the purposes of said election said City of Redwood City should be divided into eight special election precincts , and that the number of votes cast at said special election in favor of and against said propo- sition was as follows : Number of votes cast in Number of votes cast favor of said proposition: against said proposition: 1001 133 3. That the total number of votes cast at said special election was 1134 votes ; that the number of votes cast in each precinct for and against said proposition was as follows : Special Municipal Bond Votes for said Votes against Election Precinct Number : proposition:, said proposition: 1 113 10 2 150 14 93 19 110 20 5 146 16 6 113 10 7 lg5 19 g 91 25 That 3 ballots were spoiled and not counted; that more than two-thirds of all of the votes cast at said special election were in favor of said proposition and authorized the incurring of a bonded debt for the purpose set forth in said proposition , and that said proposition carried; and that the City Clerk of the City of Redwood City be , and is hereby , instructed to enter this re- solution on the minutes of this Board as a statement of the result of said election. Passed and adopted this 30th day of September , 1935 , by the follow- ing vote : Ayes : J. M. Eva, E . A. Fletcher , R . N. Jones , P. A. McCarthy , G. W. McNulty , C . G. Lambert . Noes: None . Absent : L. C . Christensen. Councilman Fletcher , seconded by Councilman McNulty , proposed the adoption of the following resolution directing that the item of 300 in the tax rate levied for the payment of delin- quent 1915 Act bonds be reduced and set at 100 , which resolution was unanimously adopted: RESOLUTION WHEREAS , the Council of the City of Redwood City , County of San Mateo , State of California, did on the 3d day of September , 1935 ,