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RJC.ek 6/23/64-7 QRD.!.NAN,g,E N o. 11 r--4I ,.,iLJ.I. AN ORDINANCE AMENDING SECTIONS 6 AND 7 OF ORDINANCE NO. 785 (PARKING DISTRICT PROCEDURAL ORDINANCE), RELATING TO CONTRIBUTIONS AND LOANS TO THE PARKING DISTRICT ORGANIZED UNDER THE PARKING DISTRICT LAW OF 1951 THE COUNCIL OF REDWOOD CITY DOES ORDAIN AS FOLLOWS: SECTION l. Section 6 of Ordinance No. 785, entitled WAn Ordinance Relating to Proceedings Heretofore or Hereafter Taken Pursuant to the Parking District Law of 1951," adopted January 17, 1955, is hereby amended to read as follows: "Section 6. Loans and Contributions to Project. To expedite the making of any such improvement, the Council may, at any time, transfer into the acquisition and construction fund, out of available funds, such sums as may be deemed necessary, and make such acquisitions or improvements or both, and pay such incidental expenses therefrom as deemed advisable, and such sumS so transferred shall be deemed a loan to such special fund, and shall be repaid from the proceeds of the bonds or ad valorum assess- ments or net revenues thereafter issued, levied or collected. The City may, from time to time, make contributions to a project if it shall be determined that the public interest and general welfare shall be served thereby.- SECTION 2. Section 7 of the abovementioned Ordinance No. 785 is hereby amended to read as follows: "Section 7. Loans and Contributions to District. The City may, at any time, make contributions or loans to any parking district organized under the parking District Law of 1951 for any purpose which is found by the Council to be necessary or beneficial to the public interest and general welfare of the entire City.. SECTION 3. This ordinance shall be effective 30 days after its adoption. * * *