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392 In the same connection , it was decided that it would be satisfactory also to have the local Bank of America branch cover its deposits similarly by placing in the custody of the Central Bank of Oakland sufficient accentable securities , receipt for which to be made out in the name of the City Treasurer and subject to his order . In a letter to the Council , C . G . Uhlenberg , auditor , recommended that the account show- ing the expenditures in connection with the proposed acquisition of the electrical distribution system be written off , as well as the outlay to prepare the Perry Street Parking Lot . It WAS so ordered on motion of Councilman McCarthy , seconded by Councilman Fletcher . By its Manager , Roscoe Wyatt , the Chamber of Commerce asked that a study be made of the building ordinances with a view of reducing certain restrictions which may have a tendency to retard building . It was decided , on motion of Councilman. McCarthy , seconded by Councilman Fletcher , to refer the request to the Planning; Commission for its recommendation with the suggestion that perhaps the 70% restriction could be lessened to make it SO if the width of the lot , especially where the garage would be a part of the building . The Chamber of Commerce by its Manager , Roscoe Wyatt , asked the Council to give some thought to the nossibility of providing bleachers nt the Yacht Harbor . The matter was referred to the City Manager with the request that he obtain prices and make a report . Councilman Fletcher , seconded by Councilman McCarthy , proposed the adoption of resolution authorizing; the City Manager , on behalf of the City of Redwood City , to sign agree- ment with the Department of Public Works , St=ate Division of Fi ghways , concerning the expenditure of the 1/ 4 Cent Tax for streets of major importance covering the fiscal year ending June 30 , 1939 . Carried . In connection with the petition for the annexation of the Friendly Acres District to the City of Redwood City , the City Manager made report concerning a letter from Clyde W. Henry in which Mr . Henry stated a price of $13 , 500 for the present water system in the district . As this figure was prohibitive , the matter was practically dropped . There ensued considerable discussion_ as to whether or not the residents of the district wished to be annexed to Redwood City without any consideration of the water supply , and regardless of it . Most of the large delegation present in- dicated a willingness to vote for annexation if the election were held . So it was finally decided , on the showing of the apparent desire of the residents to have the election , t ^ start Proceedings , and accordingly Councilman Fletcher , seconded by Councilman Hohn , proposed the adoption of Resolution of Intention No . 1933-2 , setting up the boundaries of the district , indicating the intention of the Council to call a special election , ?nd setting a hearing for Monday , the 6th of June , at which time any protest or objections to the proposed annexation might be made . Carried .