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environmental study done for this project, that no significant environmental impact would occur as outlined in the City's guidelines and that a negative declaration is appropriate in connection with the application of the City of Pleasanton for approval of the Master Plan for Veteran's Plaza, be adopted. The roll call vote was as follows: AYES: Councilmembers Brandes, Butler, Mohr, Wilson, and Mayor Mercer NOES: None ' ABSENT: None It was moved by Councilmember Brandes, and seconded by Councilmember Mohr, that Resolution No. 76-540, approving the application of the City of Pleasan- ton of the Master Plan for Veteran's Plaza as submitted by Singer Hodges Inc., be adopted. The roll call vote was as follows: AYES: Councilmembers Brandes, Butler, Mohr, Wilson, and Mayor Mercer NOES: None ABSENT: None MATTERS CONTINUED FOR DECISION There were no matters continued for decision presented at this meeting. REPORTS OF BOARDS AND COMMISSIONS There were no Reports of Boards and Commissions presented at this meeting. ~ REPORTS OF THE CITY MANAGER ~ Report Relating to Location of Bank Facilities in the Downtown Area Mr. MacDonald advised that if Councilmembers owned stock in banks they [] would have to abstain from participation in this item. Councilmembers Butler, Mohr, and Mayor Mercer stated they owned bank stock. Mr. MacDonald stated that a draw to see who would participate in the item would be required. By the draw Mayor Mercer was entitled to participate. Mr. Swift presented his report (SR 87:530) dated December 1, 1987, regard- ing this matter. Councilmember Brandes stated he felt the banking policy has served its purpose and he felt it should be eliminated; if it is kept then business parks should be exempt. Councilmember Wilson stated the policy has served the City well since 1973 and he felt it should be retained in its present form. Mayor Mercer stated there are eight banks in downtown at the present time. He suggested that a policy be established that if there are less than eight banks in the downtown then no other banking institutions or savings and loans can be approved in any other area until the minimum eight banks are occupied in downtown, otherwise banks can locate at any site they so choose. Also downtown banks are eligible to relocate at any other site. After discussion, it was moved by Mayor Mercer, and seconded by Council- member Brandes, that Resolution No. 87-541, amending Resolution No. 73-34, by establishing a policy that the number of banks in the downtown remain at a minimum of eight banking institutions and savings and loan companies, that existing banking institutions and savings and loans shall have the right to move out of downtown, and if for any reason a bank or financial institution 8 - 12-1-87