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Council on the 17th day of August, 1959, has not been made by <br /> the owners of one -half of the value of the said designated ter - <br /> ritory as shown by the last equalized assessment roll of the <br /> County of San Mateo, California, nor by public and private owners <br /> equal to one -half of the value of said designated territory as <br /> determined by said Council. <br /> -4- <br />