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Kww:I is jm 6/15/55 <br />RESOLUTION NO. <br />PROVIDING FOR ISSUANCE OF BONDS, PROVIDING FOR THE <br />PLEDGE OF PARKING REVENUES AND COVENANTS FOR THE <br />PROTECTION OF THE BONDS, AND DIRECTING LEVY OF ANNUAL <br />AD VALOREM ASSESSMENTS TO PAY THE PRINCIPAL AND <br />INTEREST THEREOF <br />PARKING DISTRICT NO. 1 <br />RESOLVED, by the City Council of the City of Redwood City, <br />California, that <br />WHEREAS, a verified petition for the formation of Parking <br />District No. 1 of the City of Redwood City, signed by the owners <br />of real property in the proposed district, as shown by the last <br />equalized assessment roll, owning real property of an assessed <br />value of not less than 35% of the total assessed value of all <br />taxable real property in the district, as shown by said assessment <br />roll has been filed in the office of the City Clerk, pursuant to <br />the Parking District Law of 1951, as modified by Ordinance No. 785 <br />Relating to Proceedings Heretofore or Hereafter Taken Pursuant <br />to the Parking District Law of 1951, adopted January 17, 1955, <br />by said City Council pursuant to its Charter. <br />WHEREAS, the City Clerk has examined said petition and has <br />certified to this Council that said petition is signed by the re- <br />quisite number of qualified signers; <br />WHEREAS, on the 20th day of December, 1954, this Council <br />adopted Resolution No. 1806 Approving Petition and Directing Pre- <br />paration of Report, wherein said Council approved said petition, <br />found that said petition had been signed by the requisite number <br />of qualified signers, agreed to allocate and pledge that portion <br />of the net revenues of on- street parking meters proposed to be <br />allocated and pledged in said petition, and determined that the <br />public interest, convenience and.necessity require that parking <br />meters be continued to be maintained as proposed in said petition, <br />and directed the preparation of a report as required by Section <br />35257 of the Streets and Highways Code, part of said law; <br />WHEREAS, said report has <br />fice of the City Clerk and has <br />Council; <br />WHEREAS , on the 20 th day <br />adopted its Resolution No. 1808 <br />District in the City of Redwood <br />been prepared and filed in the of - <br />Deen read and approved by this <br />of December, 1954, this Council <br />of Intention to Form Parking <br />City and to Issue Bonds to Pay <br />