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249 WHEREAS , on this day , to-wit , Monday , the 14th day of December , 1936 , 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 indebtedness in the principal sum of $350 ,000 in accordance with the pro- visions of the ordinance calling the election at which this proposition is submitted , for the object and pur- pose of acquiring the following municipal improvement of said City , to-wit : A general improvement fund to be used for the purpose of acquiring other general ob- ligation bonds of the City of Redwood City or bonds issued by or for districts therein , or bonds issued for street work or other public improvements in the City of Redwood City under any act of the Legislature of the State of California providing for the perfor- mance of street work or other public improvements or for the issuance of bonds to represent or be secured by assessments levied for such work or improvements ; such general improvement fund to be created under and subject to the provisions of an act of the Legislature of the State of California approved July 20 , 1935 , being Chapter 774+ of the Statutes of 1935? 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 proposition was as follows , to-wit : Number of votes cast in Number of votes cast against favor of said proposition_ said proposition 1168 90 3 . That the total number of votes cast at said special election was 1258 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 said Election Precinct Number : proposition: proposition: 1 157 138 19 2 165 146 19 3 117 107 10 4 136 122 14 5 189 Igo 6 141 131 10 7 215 212 3 138 132 6 That one ballot was 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 incurr- ing 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 he is hereby , instructed to enter this resolution on the minutes of this Board as a statement of the result of said election. Following up the results of the election , Councilman Christensen , seconded by Councilman McNulty presented for introduction Ordinance providing for the issuance of $350 ,000 principal amount of General Improvement Fund Bonds of 1937 of the City of Redwood City; prescribing the date and form of said bonds and of the coupons to be attached thereto; fixing the maximum rate of interest of said bonds , and prescribing the maturity thereof , authorizing the execution of said bonds and coupons , and providing for the levy of a tax to pay the principal and interest thereof. Carried. Councilman Eva, seconded by Councilman Christensen , proposed the adoption of a resolution authorizing the Mayor of Redwood City and the Acting City Manager of Redwood City to enter