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2Ht The Council thanked Mr. Long for his excellent report. Mr. Long stated that he was unable to continue to serve on this Committee and asked that his resignation be accepted. Vice-Mayor Spiliotopoulos thanked Mr. Long for all the time and effort he had given to the City of Pleasanton, and that his resignation from the Valley-wide Smog Committee was accepted with regret. Report of the City Council Citizens Advisorv Committee on Industrial Development Mr. Fales suggested that after the Council has had time to review the report of the Advisory Committee on Industrial Development, a study session be scheduled. REPORTS OF BOARDS AND COMMISSIONS There were no reports of Boards and Commissions other than those presented in the Consent Calendar. ~ ..... 00 '"":) U U REPORTS OF THE CITY MANAGER Review of Bids; Award of Contract Re; Demolition of Buildin~ located on the Peters Avenue Right-of-Way Mr. Campbell reported that the bids received on the Demolition of Buildings located on the Peters Avenue right-of-way have been reviewed and recommended that the contract be awarded to Ferma Corporation for $1,896.00. It was moved by Councilman Beratlis and seconded by Councilman Reid that Re- solution No. 69-243, awarding the contract for the demolition of buildings on the Peters Avenue right-of-way to Ferma Corporation for $1,896.00, be adopted. ~he roll call vote was as follows: AYES: Councilmen Beratlis, Reid and Vice-Mayor Spiliotopoulos NOES: None ABSENT: Councilman Rega and Mayor Gerton Report Re: Part-time staffin~ for Mayor's Conference Vice-Mayor Spiliotopoulos asked Mr. Fales to reschedule this matter for the next Council meeting when all members of the Council should be present. Matters for the Information of the Council Mr. Fales stated that in regard to Councilman Reid's concern over the cal-Vet Financing problem, he had the report of the City Attorney forwarded to the Council. The report explained that the presently authorized $250,000,000 of bonds to fund the Cal-Vet financing program cannot be sold at an interest rate greater than 5% and nobody will buy them at that rate. The report, dated October 8, 1969, listed four alternatives for persons desiring to purchase homes in Pleasanton. The report also stated that there is a constitution amendment to be placed on the June, 1970. ballot, which would. if adopted, authorize a raise in the interest rate to 7% on these bonds. Mr. Fales stated that he and Councilman Reid were meeting with Mr. Frank Nicol, the State Director of the Department of Veterans Affairs, in Sacramento, to deter- mine what can be done in arranging some interim Cal-Vet financing which would allow sale of the bonds within the current Cal-Vet interest rate ceiling. After some discussion on this matter, it was moved by Councilman Reid and se- conded by Councilman Beratlis that Resolution No. 69-244. urging the State Legis- lature to take positive action in support of an increase in the interest rate for the bonds used to fund the Cal-Vet Program. including support of a lIYes" vote on the proposed constitutional amendment which will appear on the ballot in June, 1970, be adopted. The roll call vote was as follows: AYES: Councilmen Beratlis, Reid and Vice-Mayor Spiliotopoulos NOES: None ABSENT: Councilman Rega and Mayor Gerton It was moved by Councilman Reid and seconded by Councilman Beratlis that Re- solution No. 69-245. urging the State Department of Veterans Affairs to provide as quickly as possible Cal-Vet Financing to those to whom unconditional financing commitments have been made and urging the State Department of Veterans Affairs to provide at least interim financing to those to shom conditional commitments have been made. be adopted. The roll call vote was as follows: AYES: Councilmen Beratlis, Reid and Vice-Mayor Spiliotopoulos NOES: None ABSENT: Councilman Rega and Mayor Gerton 3.