Ord 400 10-4-1937 - Laserfiche WebLink

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I . { 1 Ordinance is proposed to be incurred is the acquisition , con- struction and completion of the municipal improvement as stated in said. Proposition No . 2 . Section 3 . The estimated cost of the municipal improvement referred to in Section 1 of this Ordinance under the designation "Proposition No . 1" is the sum of $5751000 ( including therein the amount of just compensation , together with severance damages to be paid by the City of Redwood City to the Pacific Gas and Electric Company , and also including the cost of additions and betterments to said property ) , and the amount of the principal of the indebtedness proposed to be incurred for said municipal improvement is the said sum of $575 , 000 . The estimated cost of the municipal improvementreferred to in Section 1 of this Ordinance under the designation " Propo- sition No . 2" is the sum of $575 , 000 , and the amount of the principal of the indebtedness proposed to be incurred for said municipal improvement is the sum of $575 , 000 . The Council of the City of Redwood City proposes to issue and sell bonds of the City of Redwood City in the aggregate principal amount of $575 , 000 for the object and purposes specified in either of said propositions designated as " Proposition No . 1" and " Proposition No . 2 , " respectively , in Section 1 of this Ordinance , if two-thirds of the qualified electors voting on said propositions , respectively , vote in favor of either or both of said propositions ; subject to the specific condition that in the event both of said propositions shall be adopted , said Council shall not be authorized to issue or sell in the aggregate more than $575 , 000 principal amount of bonds authoriz- ed at said election . If both of said propositions shall be _ 6_