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Candidates and year-round swimming

March 29, 2013

I've written to the Leader previously on year-round swimming at the public pools and it would be interesting to know about the City Council candidates’ positions on this issue.

However, there is a larger issue that has a greater impact on Burbank that has not been examined, to my knowledge, for several years. That is the failed $10-million investment in Lehman Brothers securities by the city of Burbank.

I understand there is pending litigation on this issue, but some unknown part of Burbank's claims were dismissed by a New York court last October. The new city treasurer reported last August, “The City received the first distribution from Lehman Brothers in April 2012, realizing a loss of $1,405,311 on approximately $2 million.”

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Because the city's finances are frequently stated as a reason for not having a full year of pool access, perhaps this is relevant after all. Or perhaps it's relevant to the unexpected resignations of the former treasurer and city manager.

Bob Schmitt
Burbank

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