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<br />WHEREAS; the earning power of money is an ad jun(~t of the
<br />successful operation of all bu~iness in which c:Lties con-
<br />stitute no exception a nd to deprive municipali1~ies of .
<br />this source of revenue, thereby augmenting the earnings
<br />of banks by the unremunerated use of public funds is an
<br />unjust discrimination, and
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<br />WHEREAS, the enforcement of this act must result in great
<br />losses of revenue to the cities uf the state of Oregon
<br />at a time when municipalities are still struggl:lng under
<br />the burden of heavy bond and !jarrant debt and the added
<br />responsibility of bringing to'current requirement the
<br />hal ted and retarded development resulting from '~he years
<br />of the depression and diminished revenues, now '~herefore
<br />be it '
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<br />II The Finance Committee had no recommendation to :nake relative to the re-
<br />,22ji quest of L. E. Carter, Secretary to the Westminster Foundation.
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<br />11 Statement of bills from the Public, Library for the month of April was
<br />~ presented and ordered filed; report citing the activities of the dog-control of-
<br />II ficer from the inception of his employment up to May 22, 1937 was presented and
<br />;3 I also ordered filed. .
<br />
<br />I Petition requesting the north side of 7th Avenue West between the alley
<br />I running north from 7th Avenue West between Olive and Charnel ton Streets be limited
<br />24 I to one hourvwas presented and referred to the Police Committee for study.
<br />I I f~
<br />II Proposed resolution on the Wagner-Steagall Housing Bill to provide
<br />assistance to the states and political subdivisions for the elimination of unsafe
<br />I and insanitary housing conditions for the provision of decent and sanitary dwellings
<br />Ii for families of low income, and for the reduction of unemployment and the stimulatio
<br />of business activity, to create a United States Housing Authority was presented and
<br />l5 II referred to the Judic iary Committee and Ci ty Attorney for study.
<br />
<br />I An ordinance vacating that portfon of the alley running east 'and west
<br />I through Block 3, Skinner's Donation to Eugene, Oregon, lying between Lots 4 and 5,
<br />, naving been read the first time on August 24, 1936 was read the second time and
<br />ii passed its third reading by unanimous consent of the council under suspension of
<br />II the rule and was placed on its final passage. The ayes and nays were called;
<br />1.1 councilmen voting aye, Hendershott, Reid, Page, Hanns, Farr.ington, Bond and Carlson;
<br />I nay, none, absent, none. Councilman Lamb' presiding as Mayor did not take part in
<br />26 Ii the voting. The ordinance was declared passed and numbered 8512.
<br />/ I
<br />I An ordinance vacating the folloWing described area, to-wit: beginning
<br />r at' the intersection of the south line of' Fifth Avenue West wi th the east line of
<br />Ii the alley running North and South between Willamette Street and Olive Street in the
<br />~ City of Eugene, run thence south 160 feet,thsnce west 14 feet, thence north 160
<br />II feetF thence east 14 feet to the place of beginning, having been read the first time
<br />lion April 26, 1937, was read the second time and passed its third reading by unani'-
<br />i mous consent of the council under suspension of the rule and was placed on its final
<br />I passage. The ayes and nays were called, councilmen voting aye, Hendershott, Reid,
<br />Page, Hanns, Farrington, Bond, Carlson; nay, none; absent, none. Councilman Lamb
<br />presiding as Mayor did not take part in th~voting. The ordinance was declared pass d
<br />and numbered 8513.
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<br />RESOLVEljl, that the City of Portland, acting through its
<br />Ci ty Council, does hereby oppose and decry the I:macted
<br />legislation as vitally opposed to the financial interest
<br />and welfare of cities of Oregon, and that it most earnest-
<br />ly and urgently appeals to our Senators and Congressmen
<br />at Washington to use their utmost efforst for the repeal
<br />of any limitation upon the right of municipalitIes to con-
<br />tract upon favorable terms with deposi t<llry bank::; for a
<br />reasonable interest earning 'upon deposits, whet::1er for
<br />demand or time account, (or if repeal cannot be had, for
<br />their support in Congress of H. R. 4215, introd'.lced by Mr.
<br />Eicher, postponing the effective date of the lilnitation
<br />of interest on demand depos its to August 24, 19,42, or any
<br />similar proposal for such relief). And be it f'.lrther re-
<br />solved that the City Auditor of the CitY'Qf Portland be
<br />directed to forward copies of this resolution ~) each
<br />Representa t i ve and Senator of Oregon in Congres,s, al so to
<br />ask that the Executive Commi ttee of the League i::>f Oregon
<br />Cities adopt a similar resolution; likewise, that the
<br />City Auditor be also directed to mail a copy of this re-
<br />solution to each Finance Officer' of those cities who are
<br />members of the League of Oregon Cities.
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<br />Adopted by the Council, May ~1'2, 1937.
<br />of the City of Portland.
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<br />Geo. R. '~unk, Auditor
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