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of seventy-five thousand dollars ($75,000) shall <br />be authorized only by ordinance of the City Council <br />adopted by the affirmative vote of at least five <br />sevenths (5/7ths) of all members of the Council. <br />Any such ordinance shall be subject to the referendum <br />provisions of this charter. <br />(f) Any lease of real property for a term of <br />more than one (1) calendar month shall be authorized <br />by resolution of the Council or the Board of Port <br />Commissioners as the case may be. Any lease of <br />real property for a lesser period shall be authorized <br />by the City Council or the Board of Port Commissioners, <br />as the case may be, by motion duly made and carried. <br />(g) No lease of city property shall be made <br />for a term longer than ten (10) years excepting that <br />real property in the port area may be leased for a <br />term not exceeding fifty (50) years. <br />(h) No city property shall be exchanged for <br />other property until an appraisal of all property <br />included in the exchange has been made by the City <br />Assessor and the value of the property to be received <br />by the city equals or exceeds the value of the <br />property to be disposed of by the city." <br />Said Charter Amendment Proposition No. 1 shall be submitted <br />to the electors in the form of a proposition printed on the ballot <br />at said general municipal election as follows: <br />"CHARTER AMENDMENT PROPOSITION NO. 1 <br />Shall Charter Amendment Proposition No. 1 amending <br />Section 3-1/2 of the Charter of the City of Redwood City <br />to clarify existing procedures and establish additional <br />procedures governing public notice, public bid, minimum <br />sale price, appraisals, and other matters relative to <br />the acquisition, sale, lease, exchange, or disposition <br />of city property, be approved? <br />YES //_7 <br />3 - NO u <br />