Valencia (Valencian Community, Spain)

Valencia is the capital and biggest city of Valencian Community and former Kingdom of Valencia. It uses the same, historical flag of Valencian Communtiy, so I thought about a design only for the city.

This is the flag:

















It the senyera of former Crown of Aragon (nine yellow-red horizontal stripes) with a stylized crown, a privilege dating from the second half of 14th century.

My proposal takes the crest from current coat of arms — probably originary from belief that Crown of Aragon's crest contained a bat instead of a wyvern — and puts it on a cairó, a rotated square associated there with civic heraldry. This is the result:
















This crest, being golden and black, is very hard to contrast. In my second attempt, I used a more pan-Catalan color scheme:
















I'm more inclined towards second scheme, but I think Valencian people would be proud of both.

Comments and suggestions are welcome.
Which one of designs do you prefer?