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<br />DES:mf 1/24/83 <br />~S:djg-c 2/28/83R <br /> <br />Section 1. This Council hereby finds and declares as follows: <br /> <br />(a) The recitals, and each and all of them, hereinabove are <br /> <br />true; and <br /> <br />(b) The full amount of principal indebtedness approved in <br /> <br />the election referenced in the recitals hereinabove is <br /> <br />not necessary for the objects and purposes for which <br /> <br />said amount was originally approved. <br /> <br />Section 2. The prinicipal amount of Redwood City General <br /> <br />Improvement District No. 1-64 reclamation bonded indebtedness <br /> <br />heretofore approved by the voters pursuant to the bond election held <br /> <br />December 10, 1968 within the District shall be, and hereby is, <br /> <br />cancelled and voided. <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />2 <br />