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CC 08-18-69 CITY OF CUPERTINO, State of California 10300 Torre Avenue, Cupertino, California 95014 Phone: 252-4505 CC-20 MINUTES OF THE REGUIAR MEETING THE CITY COUNCIL HELD AUGUST l8, 1969 IN THE COUNCIL CHAMBERS, CITY HALL, CUPERTINO, CALIF. The meeting was called to order at 8:02 p... by Mayor Dempster, who subsequently led the assemblage in the flag salute. call to order flag salute Councilmen present: Beaven, Fitzgerald, Noel, Stokes, Dempster. Also present: City Attorney Anderson; City Manager Storm; City Clerk - Finance Director Ryder; Director of Public Works Yarborough; Planning roll call Director Sisk; Senior Planner Laurin; Chief Building Inspector Benevich; Director of Parks & Recreation Parham; Recording Secretary Lucie M. Matzley. Mayor Dempster introduced Mr. Graves who presented a gift from the Mayor of Baztan, Spain, to the Mayor and Councilmen of Cupertino. Mr. Graves explained that, while visiting Baztan, he had presented the Mayor of that town with the Cupertino seal accompanied by a letter from Mayor Dempster, which event· had received press coverage and which, in turn, had prompted the gift to the City of Cupertino. gift to city Mayor Dempster recognized Mr. Howard Campen, County Executive, who addressed the Council and the citizens of Cupertino, urging them to support propositions A, Band C during the September l6, 1969 election. Mr. Campen explained' proposition A to be one for mass rapid transit, the proposal for which had been studied by the County Transportation Policy Committee as well as the Taxpayers Association, both of whom had endor.sed the program after a thorough study. According to Mr. Campen, l/2 cent, to be taken from the current sales tax, shall be utilized for support that program, totaling in an $ll million dollar fund for the mass rapid ~rged transit system. Proposition B was explained as being a County bond issue of $41 million to be paid out of existing sales taxes. This proposal I had also been studied and f~'-~ feasible by the same organizations which had studied the proposal fo:r' proposition A. Proposition C would be for a bond issue for County parks. Mr. Campen stressed the importance of these propositions to the betterment of the community and urged the C.uncil's cooperation in endorsing the proposal as well as urging citizen support for all three measures at the September l6, 1969 ballot. Councilman Stokes stated that he had reviewed the proposal and found it to be in order. Mr. Stokes moved that the Council adopt Resolution 1858 officially endorsing Measures A, B and C to be presented 1;0 the tax- payers. Councilman Fitzgerald seconded. Ayes: Councilmen Beaven, Fitzgerald, Noel, Stokes, Dempster Noes: None Absent: None Res 1858 adopted ~ Councilman Noel asked that on page 5, third paragraph, of the minutes of August 4, 1969 the following clarification be noted: " should the proposal for the exchange of land go to the electnrate and the people vote in approval of favor of same, would the Federal Government be influenced". minutes Councilman Noel moved to approve the minutes of August 4, 1969 as corrected, Councilman Beaven seconded. The motion passed 3 - 0 with Councilmen Stokes and Fitzgerald abstaining. I page 2 Minutes of the City Council August 18, 1969 CC-20 staff City Manager Storm introduced the new Planning Director, Mr. James Sisk, introduced to the Council and the assemblage. written communi- cations omissions included audience comments date approved planning 7-v-69 City Clerk Ryder advised the Council of receipt of the following written communicat ions: 1. Boundary agreement from the City of Saratoga; 2. Letter from George Ditz of Ditz-Crane relative to a park site proposal on Somerset Square; 3. Bid opening results for opening of Alves Water Mains, which was to be discussed under "New ;Business". City Clerk Ryder also advised the Councilmen that discussion of Application 14-TM-69 had inadvertently been omitted from the agenda but would come up for discussion. Councilman Noel moved, Councilman Fitzgerald seconded and it was passed unanimously to cover the items not listed on the agenda. When Mayor Dempster called for oral communications, Mr. John Foggiato of 21315 Rumford Drive asked, since the park site exchange was apparently a thing of the past, when some of the programs slated for the parks would be initiated and urged the Council to use their 'influence to have construction commence ac soon as possible pri~r to the start of the rainy season. Mayor Dempster advised the gentleman to contact the Director of Parks and Recreation for the information needed. Mr. Al Spiers stated that he had contacted the Cupertino Chamb~r of Commerce as requested by the Council to ascertain the feasibility of scheduling the Pioneer Day Parade for the second to last Saturday in October rathAr than the last weekend as in previous years. Mr. Spiers commented that the Chamber of Commerce had indicated no conflicts for that date and had approved the proposal. Councilman Stokes moved, Oouncilman Noel seconded and it was passed unanimously to approve the re-scheduling of the parade to the second to last Saturday in October as requested. Report of Commissions A. Planning Commission Mr. Roy Rosendahl, the applicant for Application 7-v-69, presented the proposal wh;'ch had been denied by the Planning CommHUon, and stated that a hardship would indeed exist if he were not permitted to construct seven units on the site ·authorized for six units as he would be losing some $1,000 in income per year. Mr. Rosendahl disagreed with arguments that additional traffic would be created and asked that the City Council give favorable consideration to the request. When Mayor Dempster called for awiience collUnents, Mr. Roy Sebral stated that he was one of 31 signers to a petition opposing the request for an additional unit and commented that the opposition was based upon the following considerations: 1) there are presently a number of cars parked on the street and additional units would permit an increase in the number of cars; 2) additional units wOl'ld decrease rentals and bring in people with lower income; 3) there are no playgrounds for children anywhere near the area; in fact, this area is strictly for older people; and 4) there are many lots in Cupertino and Sunnyvale where increased units would be permitted. Mr. Sebralemphasized that the residents in that area had purchased their site because of the strict requirements in an effort to continue thE¡ high level of construction and tenants. Minutes of the City Council August 18, 1969 7-v-69 cont'd Mr. Louis Chetaud as well as another audience member voiced their oppo- sitioh to the request, in essence repeating the same considerations as had previously been stated. It was the consensus of the Council that hardship, as defined by the Ordinance, had not been demonstrated, although Councilman Stokes dis- agreed that the area was for older people and that one additional unit would increase the traffic appreciably. Councilman Stokes moved to deny Application 7-v-69, Councilman Noel seconded. The motion passed 4 - 1, with Councilman Dempster dissenting. CC-20 page 3 7-v-69 denied Mr. David Schanding, the Facilities Chairman of the Cupertino Swim and Racquet Club, presented Application 19-TM-69 and briefly à.iscusst:d the proposaL Councilman Fitzgerald moved for approval Of Application 19-TM-69, Council-19-TM-69 man Beaven secoDà.ed and it was passed uñanimously. approved B. Architecture and Site Approval Committee Application 347-HC-69 was briefly discussed and unanimously a:pproved upon the motion by COUl!Cilman Stokes and the second by Councilman NoeL Mr. Max Michaelson presented Application 429-HC-69 and, by use of a plot and elevation plan, discussèd the proposal offering to show the Council descriptive slides of the proposed construction. In noting that the minutes of H Control under date of August l3, 1969 stated that this presentation was the most thorough, well-defined and complete application that had ever been presented to the Architecture and Site Approval Committee, Councilman Fitzgerald moved for approval of Application 429-HC-69, Councilman Noel seconded and it was passed unanimously. C. Parks & Recreation Commission There had been no meeting of the Commission, there were no minutes. Public Hearings Appeal of Applications l7-Z-69, lo-u-69 and ll-U-69 by James G. Boghosian requesting the Council to reverse the decision of the Planning Commission resolutiors as follows: Res. #663 denying Application l7-Z.69; Res. #665 denying Application ll-u-69; Res. #681 deuying Application lO-u-69. Also Application 14-TM-69, same applicant; for a tentative map approximately 2.35 acres locatp.~ on the southWèst corner of Homestelld Road. and Maxine Avenue. Approval recommended by Planning Commission Res.# 664 Attorney Dan Donovan, representing the applicants (Moose Lpdge) reiter- ated his previous statements and explained that the application had four parts, only one of which had been approved by the Planning Commission; i.e. the tentative map. A. h control 347-HC-6 approved arks l7-Z-6 o-U- ll-u-6 legends 4-TM-6 legend page 4 Minutes of the City Council August 18, 1969 CC-20 Appeal of applications cont'd According to Mr. Donovan, two Use Permits were sought, one for the Moose Lodge on Lot #1 and one for the construction of a service station on Lot #2, and if the Use Permit for the service station wouJd be denied, it would be impossible for the Moose Lodge to operate as the land owners had made the sale of Lot #1 contingent upon the securing of a Use Permit í'or a service station on Lot #2. Mr. Donovan also pointed out that this service station would not only benefit the land owner and the gasoline companies, as is the usual t:ase, but most specifically the members of the Moose Lodge who would be able to operate and meet expenses through the revenue derived from the service station. Mr. Dean Fi~kenbinder, Secretary-Manager of the Moose Lodge, presented a brief synopsis of the Lodge's background and its charitable aetivities in the communities as well as throughout the United States and urged that the City Council consider the applications favorably. Mrs. Christine Jones, the present occupant of the existing house on the site, stated that there had been many occasions where passing motorists had come off the freeway in search of a service station and that, in her opinion, a service station was needed at that site. Mr. John Cabrall voiced his opposition to the proposal and said that there are other people who are opposed to the proposal as well but who are unable to attend the meeting to protest. "'r. Jim O'Dean was opposed to the planned sign. Mr. Bob Carnon, a member of thè. Moose Lodge, stated that the only complaints seemed to be against the servic.: station but that it should be borne in mind that the service station would make the effective functioning of the Lodge possible. p. h. closed Councilman Fitzgerald moved, Councilman Noel seconded and it was passed unanimously to close the public hearing. Councilman Fitzgerald stated that he was surprised that the applicant had not made a stronger point for the service station as he could find no fault with the location as it was on the City's boundary and it would probably be to the convenience of the surrounding residents. Councilman Beaven commented that he was in· favor of the Moose Lodge facility but that he could 00+, see the need for yet another service station as there was one in existence, one in the planning stages and still another one proposed at this time. Mr. Beaven was unimpressed by the petition by thirty-one signers, noting that the signatures included people from Palo Alto and from Campbell wl.o did not live in the area and who might have never even seen the site. Mr. Beaven also felt that the Planning Commission, comprised of five intelligent people, had denied the applications for a very good reason in order to effectuate an orderly development of the City, and three service stations are disor'~er. Counoilman Noel commented that he was in favor of the Moose Lodge but that he was opposed to the idea that, whenever a developer wishès to construct a corner site, he first turns to gasoline companies for the largest return on his in- vestment. Mr. Noel felt that the Moose Lodge had, in his opinion, not employed their initiative to obtain financing frOb. other sources and that a different approach should be considered as he was opposed to service stations. Councilman Stokes stated that he was in complete agreement with his fellow Council- men who had analized the applications along the same thoughts he had had. Minutes of the City CO\"''1~il August 18, 1969 Appeal of applications cont'd Discussion ensued as to the method by which this multiple application should be disposed of and City Attorney Anderson rendered his legal opinion on the matter. Mr. Donovan suggested that the following method be employed: grant the commercial zoning for the front parcel; deny the Use Permit for the service station; grant some quasi-public zoning for the rear portion of the site with a Use Permit for the Moose Lodge conditioned upon some other use being found for the front portion of the site, all subject to a Use Permit; and approve the Tentative Map. Councilman Stokes voiced his objection to this approach and stated that he would not elect to pass on any matter "subject to" as the Planning Commis- sion as well as the City Council might wish to impose additional conditions upon any use. He suggested that the entire application be denied and that the applicant re-app¡Y, satisfying all the criteria discussed and suggested at this meeting. CC-20 page 5 Councilman Stokes moved for approval of Planning Commission Resolution 663, Councilman Noel seconded. The motion passed 4 - 1 with Councilman Dempster dissenting. Councilman Stokes moved for approval of Planning COIIIIII:iasion Resolution 665, Councilman Noel seconded. The motion passed 3 - 2 with Councilmen Fitz- gerald and Dempster dissenting. CO\Ulcilman Stokes moved for approval of' Planning Commi8sion Resolution 68¡, lQ-U-69 Councilman Noel seconded. The motion was defeated 3 - 2 with Councilmen approved Beaven, Fitzgerald and Dempster dissenting. CO\Ulcilman Stokes moved fOI denial of Application l4-TM-69, Councilman Beaven seconded and it was passed unanimous¡Y. 17-Z-69 denied ll-u-69 denied l4-TM-69 denied Councilman Stokes moved that appli~ation 10-u-69 be referred back to the lo-u-69 Planning Commission. Councilman Noel seconded and it was passed unanimous~ referred Councilman Stokes moved that, if the applicant re-applies for another application for this property within sixty d8¥S, that the necessary filing fees waived fees be waived. Councilman Noel seconded and it was passed unanimously. The meeting reconvened at 10:20 p.m. Mayor Dempster called a recess at 10:10 p.m. recess B. Application l8-Z-69:Cupertino Swim & Racquet Club for rezoning l8-z-69 . from single-family agricultural-re81dential 40,000 sq.tt. lots legend (Al-40)zone to single-family residential 7,500 sq.ft. lots (Rl-7.5) zone, approximate¡Y 2.18 acres located on the soutbwest corner of Rae Lane and extension of Linda Viste. Drive. (Ordinance No. 446 under first reading). The application was briefly discussed; there were no audience comments. Councilman Stokes moved, Councilman Noel seconded and it was passed unani- mously to close the public hearing. p. h. closed page6 18-z-69 approved Res. 1853 1. adopted Res. l854 2. adopted Res. 1855 3. adopted Res. l856 4. adopted Res. 1857 5. adopted Minutes of the City Council August 18, 1969 CC-20 Application l8-z-69 cont'd Councilman Noel moved for approval of Application 18-z-69 and that the Mayor's reading of Ordinance No. 446 constitutes a first reading. Councilman Stokes seconded and it was passed unanimously. Resolutions No. 1853: approving payroll for period ending August 15, 1969 City Treasurer Fitzgerald presented the payroll. Councilman Stokes moved for adoption, Councilman Noel seconded. Ayes: Councilmen Fitzgerald, Noel, Stokes, Dempster Noes: J\!one Absent: Councilman Beaven No. 1854: approving miscellaneous and general expenditures City Treasurer Fitzgerald presented the list of expenditures. Councilman Stokes moved for adoption, Councilman Noel seconded. Ayes: Councilmen Beaven, Fitzgerald, Noel, Stokes, Dempster Noes: None Absent: None No. 1855: authorizing execution of an agreement with the County of Santa Clara relating to the im,provement aDd maintenaJ1ce of Peninsula Avenue and a portion of University Way Councilman Stokes moved for adoption, Councilman Noel seconded. Ayes: Councilmen Beaven, Fitzgerald, Noel, Stokes, Dempster Noes: None Absent: None No. l856: accepting dedication of real property for roadway purposes from Wilbert D. Silva and Marian D. Silva; approximately .05 acre located on the east side of Bubb Road across Terrace Drive Councilman Stokes moved for adoption, Councilman Nop.l seconded. Ayes: Councilmen Beaven, Fitzgerald, Noel, Stokes, Dempster Noes: None Absent: None No. 1857: accepting a grant of easement from Cupertino Union School District; approximately 1.6204 acres located west of Homestead High School, 800 feet south of Homestead Road Councilman Stokes moved for adoption, Councilman Noel seconded. Ayes: Councilmen Beaven, Fitzgerald, Noel, Stokes, Dempster Noes: None Absent: None Minutes of the City Council August 18, 1969 Unfinished Business A. 1969-1970 Tax Rates Considerable discussion ensued during which each of the Councilmen voiced his individual opinion on the ramifications attendant to the reduction of the tax rate or level of services provided and the overall effect on existing and projected surpluses. Councilman Noel moved that the rate of $0.17 per $100 assessed valuation be the tax rate of the City of Cupertino for the fiscal year 1969-70 and to be applied to General Fund purposes; that the rate of $0.054 per $lOO assessed valuation be the tax rate of the City of Cupertino for the fis- cal year 1969-1970 and to be applied to the redemption and interest expen- se of the City Hall bonds; that the rate of $0.116 per $100 assessed valuation be the tax rate of the City of Cupertino for the fiscal year 1969-70 and to be applied to the redemption and interest expense of the park bonds. Councilman Stokes seconded. Ayes: Councilmen Beaven, Fitzgerald, Noel, Stokes, Dempster Noes: None Absent: None B. Reports on cost of vandalism in City Parks and proposal for preventive maintenance Councilman Stokes noted the report as submitted by the Parks and Rec- reation department and stated that he had wanted to see a comparison between a permanent policing cost and the currently existing method. Director Parham suggested that a custodian be employed at a cost of $700 a year to police the grounds for an additional hour to 11 p.m., one hour after curfew. In noting the $7,000 cost for maintenance due to vandalism, Councilman Noel commented that this. sum was not too excessive considering the surrounding municipalities; funds for preventive maintenance. Mayor Dempster disagreed stating that any fund having to be spent for damage done by vandals is bad and that reducing the tax rate and then spending $400 a month for. correcting damage caused by vandalism was a diametrically opposed argument, and that the City Council as well as every citizen has the responsibility to attempt to eliminate and reduce vandalism. Councilman Stokes moved to give minute order approval to the increase in custodial supervision for one additional hour as recommended. Councilman Fitzgerald seconded ánd it was passed unanimously. C. Cost study on yard rubbish pickup After some discussion, Councilman Stokes moved to authorize that the City proceed with the proposed refuse collection .for sometime in October, with written notification to all residents as to date, time, etc., and that, after the collection has taken place, a complete report be submitted to the City Council of the amount of rubbish collected, what types and the total cost, and that a recommendation be made by staff for a continuation of the program, a limitation or increase or any other alternative. Councilman Noel seconded and it was passed unanimously. CC-20 page 7 tax rates Res. 1860 adopted vandalism report increase authorized rubbish cost page 8 Minutes of the City Council August 18, 1969 CC-20 Unfinished Business cont'd D. This matter had previously been disposed of. E. Report on staff research relative to a deferment for the construction of masonry wall Mr. Don Bandley, Realtor, made the presentation and Mr. Filice, the represen- tative for the adjoining property owners, stated that the proposal as outlined by the realtor would be agreeable to his clients. variance approved Councilman Stokes moved to approve the deferment with the condition that this approval is on a temporary basis until such time as the adjacent site is developed, and that this approval is subject to a yearly review. Councilman Noel seconded and the motion passed 4 - 0 with Councilman Fitzgerald ab- staining. F. Proposed Neighborhood Park site - Ditz-Crane park site purchase approved After having stated that the opportunity offered by Mr. Ditz would be the last one for the City to acquire a public park site on that location, Council- man Stokes moved that the City authorize the purchase of the land at a cost of $25,000 with the understanding that this does not constitute any commitment for development at this time. Further, that the City Manager be directed to negotiate with the P. G. and E. representative ,or an agreement of acquisition for the property adjacent to the sité and that terms of purchase price, conditions, improvements, etc. be worked out. Councilman Noel seconded and it was passed unanimously. Councilman Stokes, in referring to the minutes of the last meeting during which he had been absent, asked that the position of the City Council be clarified as the motion had not defined the intent or the Council's disposition of the park site exchange proposal. Councilman Noel replied that he had been the one to make the statement that the exchange proposal was dead, based upon the following considerations: 1) the letter as received from HUD; 2) the report from staff on the subject; and 3) the opinion as rendered by the City Attorney. Councilman Stokes stated that he was in complete agreement with the editorial as written in a recent issue of a local newspaper in that he would not take the word of an employee of HUD somewhere in Washington, totally unfamiliar with the area and the proposal, and as a result completely discharge the matter. Mr. Stokes felt that the people of Cupertino had not been given an opportunity to speak on the matter in depth as the meeting had not provided for open discussion. Mr. Stokes further felt that a public hearing should be conducted during which all parties could be heard and that he, personally, was in favor of acquiring the horse ranch and a portion of some other property either by an exchange or through a separate acquisition. Mayor Dempster disagreed that a realtor proposed exchange should even be discussed and that, if at all, the matter should be placed on bid for the sale of one site and the purchase of another, but that an intermediary was Minutes of the City Council August lB, 1969 Unfinished Business cont'd certainly not needed or desired since the City might place itself in a fairly questionable position. If at all, according to Mr. Dempster's opinion, the City should be handling all matters and not a realtor, and that there was no reason why another site could not be acquired. Councilman Fitzgerald was of the opinion that the City had lost its opportunity to acquire the horse ranch and he agreed with Councilman Stokes that the City had "dropped the ball". In answer to Councilman Noel's statement that he was in favor of re-discussing the matter, Coun- cilman Beaven felt that this was a complete reversal from his previous statements as the opportunity for dialogue had been at the last Council meeting and that Councilman Noel had helped to cut off further conver- sation. Mr. Beaven felt that only one proposal had been made and that others would undOubtedly be forthcoming, all to be heard and discussed in open hearing and with the electorate present. Mayor Dempster suggested that the Council wait with any action until after the September l6, 1969 bond election results are known. Council- man Stokes stated that he had not intended this discussion to lead to any positive action at this meeting but that he had been interested in the Council's feelings toward the purchase of the horse ranch and on what basis, and that he felt that all matters need to be discussed in open public hearings. Coúncilman Beaven agreed and proposed the follow- ing approach: l) to get a professional appraisal of the land which is, in effect, owned by lï,OOÖ'taxpayers; 2) ascertain that value of the horse ranch site; 3) obtain a separate sale rather than an exchange which would not necessarily have to be for any given acreage but could be for less so that the horse ranch could still be purchased. Councilman Beaven moved that the City Council refer this matter to the Parks and Recreation Commission for an in-depth report following the outcome of the County bond election and that a report be made at the October 6, 1969 meeting. Councilman Stokes seconded and it was passed unanimously. G. Building plans for Library to be reviewed at the Oct. 6 meeting. New Business A. Award of contract for relocation of Alves Water Mains CC-20 page 9 matter referred Director of Public Works Yarborough reported that four bids had been re-', ceived for the relocàtion with the low bidder, R. M. Maloney, Inc., sub- mitting a bid for $45,095.00. Councilman Stokes moved, Councilman Noel seconded and it was passed unan- imously to approve the proposal subject to being approved by the State bid approved" of California. B. Ordinance No. 447 regulating the issuance of permits to sell fireworks and repealing all 'ècretofore enacted ordinancea pertaining thereto. Ord. 447 legend page lO deferred Minutes of the City Council August 18, 1969 CC-20 New Business cont'd Councilman Stokes moved to continue this matter to the next meeting to be placed under a Public Hearing. Councilman Noel seconded and it was passed unanimously. Report of Officers treasurer A. City Treasurer There was no further report from the City Treasurer. manager B. City Manager Res. l859 adopted attorney pub.works D. storm sewer approved approval authori- zation Mr. Storm presented Resolution No. 1859 setting forth the Council's oppos- ition to the elemination of the exempt status of municipal bonds from taxation. Councilman Beaven stated that he had reviewed the proposal and that he, personally, was gratified to see tax loopholes plugged; however, Mayor Dempster disagreed stating that the passage of such tax reform would make it almost impossible for schools and municipalities to obtain the necessary financing for munLcipal improvements. Councilman Noel moved for adoption of Resolution No. 1859. Councilman Fitz- gerald seconded. Ayes: Councilmen Beaven, Fitzgerald, Noel, Stokes, Dempster Noes: None Absent: None C. City Attorney There was no further report from the City Attorney Director of Public Works Councilman Noel moved, Councilman Stokes seconded and it was passed unanimously to give minute order approval to the installation of the storm sewer line within the Central Park property as recommended by the Public Works Department. Councilman Stokes moved, Councilman Noel seconded and it was passed unani- mously to give minute order approval to improvements constructed in con- junction with Tract #4553, Montebello Unit 4. Councilman Stokes moved, Councilman Noel seconded and it was passed unani- mously to give minute order approval to improvements constructed in conjunc- tion with Tract #4510, Villa De Anza. There were no further reports from the Planning Department, the Building Department or the Parks and Recreation Department. Minutes of the City Council August l8, 1969 H. City Clerk - Finance Director Finance Director Ryder asked for permission to disburse the City's contribution to the Cupertino Chamber of Commerce. Councilman Fitzgerald moved, Councilman Noel seconded and it was passed unanimously to authorize the Finance Director's disbursement of $lS,OOO as the City's contribution to the Cupertino Chamber of Commerce Discussion ensued on the proposal for the investment of surplus City monies as submitted by the Finance Director. Councilman Fitzgerald felt that local banks depend heavily on the deposit of the funds and that any action should bear this dependence in mind. Councilman Beaven moved that the suggestion as submitted by the Finance Director in connection with the placement of available funds be ap- proved. Councilman Fitzgerald seconded. The Authorization to include: (a) Surpluses in those funds having revenues in whole or in part from ad valorem taxes on property to be invested in legal government securities or in time certificates of deposit, whichever will provide the greater yield. (b) Surpluses in those funds having revenues from subventions and grants or sources other than ad valorem taxes on property to be placed in time certificates of deposit with local banks Such deposits to be placed so as to provide comparatively uniform balances among the banks, assuming interest rates are competitive. Discussion ensued on this matter and Councilman Firzgerald reiterated his opinion that all funds should be deposited in local banks, regard- less of interest rates available elsewhere. The other Councilmen dis- agreed stating that these funds belong to the citizens of Cupertino who have a right to the highest return on their money. The motion passed 4 - 1 with Councilman Fitzgerald dissenting. Mayor Dempster declared the meeting adjourned at 12:25 a.m. to meet in regular session on Tuesday, September 2, 1969 because of the holiday on Monday, September 1, 1969. ATTEST: APPROVED: ',,- Ci ty Clerk CC-20 page 11 clerk disburse- ment OK'd placement of funds authorized adjournment