Shall the City Council of the City of Saginaw, Texas, be authorized to issue and sell the bonds of said City, in one or more series or issues, in the aggregate principal amount of $37,550,000 for the purpose of designing, constructing, reconstructing, improving, extending, expanding, upgrading and developing streets, roads, sidewalks, thoroughfares and related improvements in the City, including pedestrian right of ways, related drainage, utility relocation, signalization, landscaping, lighting, and signage.