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<br /> opinion that times have changed and they should give consideration to the request of
<br /> the other banks. Councilman weymouth atated that he could understand the feeling
<br /> of all the banks; however, he suggested that they give consideration to placing
<br /> ' �100,000 each in the American Trust Bank, First Western Bank and the California-
<br /> Broadway Branch of the Bank of America, and �250,000 each of the Barik of America
<br /> #32 Branch and Wells F argo Bank. Councilman Weiss stated that they had a recom- ""'�
<br /> mendation from the City Auditor and City Treasurer and perhaps they should give this �
<br /> consideration. The Mayor read the reeommendation of the two department heads.
<br /> Councilman Stout moved that the reoommendation of the City Auditor and the City
<br /> Treasurer be approved (American Trust Company, First I�estern Bank and Bank of
<br /> �
<br /> America, Broadway-Jefferson Branch, and ��iells Fargo Bank each received �175,000) .
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<br /> This was f'ollowed by discussion in re�ard to how often or when this could be re-
<br /> considered by the City. The City Auditor stated that this could be changed after
<br /> any ninety day period. The present banks are now holding two active commercial
<br /> accounts in which they do not pay interest and that is why they made their recom-
<br /> mendation in the manner that it was presented. Councilman Weiss asked that the
<br /> maker of the motion add that the City Auditor and City Treasurer make a check of the
<br /> record and if they can find money place some of it under 180 day call basis. Council-
<br /> i man Stout a�reed to this and Councilman Weiss seconded the motion. Councilman Wey-
<br /> mouth amended the motion to place �100,000 each in the American Trust Bsnk, First
<br /> Western Bank, and Bank of America California-Broadway Branch and place �250,000 each
<br /> in the B ank oP America #32 and i�ells Fargo Bank. This was followed by discussion.
<br /> Coun�ilman Granger seconded the amendment. Councilman Herkner amended the amendment �
<br /> and moved to place �112,500 each in the American Trust Bank and Baxik of Am�arica '"`�
<br /> California-Broadway Branch; �75,000 in the First Western Bank; and �250,000 each in �
<br /> the Bank of America #32 and Wells Fargo Bank. This amendment lost for lack of a
<br /> second. This was followed by discussion after which �ouncilman Weymou th changed his
<br /> amendment to place �112,500 each in the American Trust Bank and the Bank of America
<br /> California-Broadway Branch; �75,004 in t,he First Westerh Bank; and �250,000 each in
<br /> the Bank of America #32 and Wells Fargo Bank, seconded by Councilman Granger and
<br /> carried with �ouncilmen Stout and Weiss voting N0.
<br /> Mr. Lubchenko addresaed the Council and thanked them for their consideration. He
<br /> suggested that they notify the other banks and put them on notice that they go along
<br /> with .the City on bond issues in the fliture.
<br /> ENGINEER REPORT ON �I.'HE YACHT HARBOR LEVEE. The Clerk read the following report: �
<br /> "tAFe vish to recommend acceptance of the Yacht Harbor Levee, constructed by Oscar C. �
<br /> Holmes, Inc.
<br /> ' A committee consisting of Councilman Sidney D. Herkner, Chairman of the Yacht Harbor
<br /> Committee, Councilman Ray A. Weyrnouth, �ity Manager E. A. Rolison, City Engineer Glenn
<br /> M. Jain, and Deputy City Engineer Melvin I. Moen, met Friday, June 21, to consider
<br /> this project. It was the unanimous opinion of the committee that the contractor had
<br /> performed all work required by the plans and specifications, and that the pro�ect �
<br /> should be ,accepted. The levee has cracked, and a portion has settled on the west ,
<br /> side adjacent to the Leslie 3alt Company pipe trestle. Due to the instability of the ;,,,�
<br /> foundation in this area, there will probably be additional settlement over a portion
<br /> of the levee, but we do not believe the levee contractor can be held responsible for
<br /> ' unstable conditions beyond the limits af the levee.
<br /> � It might be neeessary for the- City to perform some additional work at a later date to
<br /> again raise the completed levee to final established grade, and to perform some
<br /> additional work to realign the Leslie Salt Company pipe trestle."
<br /> , Councilman Herkner stated that the letter from the City Engineer covered the findings
<br /> of the co�nittee. Councilman Herkner moved approval of the City Engineerts recom-
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