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Within sixty days after receipt of the report from the traffic engineer, the City Council shall consider the proposal to designate an area as a restricted residential parking area at a public hearing at which time proponents and opponents to the proposal shall be heard. Thereafter, the Council shall take final action on the proposal by granting the proposal, modifying the proposal, or denying the proposal. If the action is to grant the proposal or modify the proposal and grant it as modified such action shall be taken by resolution of the City Council containing the requirements set forth in 12.50.070. (Ord. 96-13 §6, 1996).