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DES:djg-c 12/8/83 PROPOSITION C: Shall Section 47g of the Redwood City Charter be amended to provide that the Board of Port Commissioners shall report annually to the Council on the Port's activities and future plans and objectives? SECTION 6. (a) The Council of Redwood City hereby proposes, on its own motion, to amend the Charter of the City of Redwood City by amending Section 48d thereof to read as follows: "SECTION 48d. REPAYMENT OF FUNDS: "All moneys once apportioned or appropriated to the Board, and all income from the operation of the port and its facilities, or all net income from leases or other sources, shall remain in its control or until expended; provided, the Board may f~em ~~me ~e ~~me shall annually pay over to the General Funds of the city profits from the operation of the port and any surplus funds which in its judgment may not be needed for port purposes. "FURTHER PROVIDED, that the council may annually, prior to July 1 of each year, require that the Board pay over to the city treasurer sufficient funds to pay interest and principal payments falling due for the fiscal year succeeding such demand on any bonds issued specifically for the improvement of the Port of Redwood City. "On receipt of such demand, it shall be mandatory on the Board that such payment be made." (b) Said Charter amendment proposal shall be submitted to the electors of the City of Redwood City at the General Municipal Election to be held in the City on April 10, 1984, in the form of a proposal to amend said Charter by amending Section 48d thereof. On the ballots and on the voting machines to be used at said election, in addition to all other matters required by law to be printed thereon, shall appear the following: PROPOSITION D: Shall Section 48d of the Redwood City Charter be amended to provide that the Board of Port Commissioners shall annually pay to the General Funds of the City any Port profits and 8