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Home My WebLink About06561 ORD - 06/20/1962THE STATE OF TEXAS COUNTY OF NUECES CITY OF CORPUS CHRISTI On this the 9,6 day of June, ,V62, the City Council of the City of Corpus Christi, Texas, convened in jp meeting, _at the regular meeting place, with the following membewthereof, to-wit" Ben F. McDonald, Mayor, Tom R. Swantner, Dr. ,James L. Barnard, J. R. De Leon, Commissioners, M. P. Maldonado, W. J. Roberts, Jim Young, T.•Ray Kring, City Secretary, being present, with the following absent: &EQ constituting a quorum of the City Council, at which time the following pro- ceedings were hadY Commissioner introduced Commissioner r.duced a resolution and ved that it be adopted. The. otio. was The motion carrying with it the adoption of the resolution prevailed by the following vote* AYES: Commissioners Swantner, Barnard, De Leon, Maldonado,4Roberts and Young and Mayor McDonald. NOES: None. The resolution as adopt6d is as follows: RESOLUTION BY THE -CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,'TEXAS, EXERCISING ITS OPTION TO REDEEM CERTAIN BONDS AND PROVIDING FOR NOTICE THEREOF; AND DECLAR I NG AN EMERGENCY. WHEREAS ,-heretofor6'o'n the 16th day of January, 1957, the City Council of the City of•Corpus Christi, Texas, passed an ordinance authorizing the issuance Of-'$11750)000-00 City of Corpus Christi, Texas, 6561 Airport Bonds, Series 1957, dated February 1, 1957, bearing 4-,'%; 3 -3/4% in- terest, payable semi - annually, and maturing serially throughout the years 1959 to 1972, both inclusive, with option of prior payment retained in Bonds Numbers Five Hundred One (501) to One Thousand Seven Hundred Fifty (1,750)1 both inclusive, on February 1, 1962, or on any interest payment date there- after; and WHEREAS, said bonds were duly approved by the Attorney General of the State of Texas, were registered by the Comptroller of Public Accounts of the State of'Texas and were sold and delivered in accordance with law; and WHEREAS, the City has an option effective August 1, 1962, to redeem, at a price of par and accrued interest, all of the above described bonds which are now outstanding; and WHEREAS, it is considered and adjudged to be to the best interest of the City that said bonds of the above described issue which are now outstanding be called for redemption; BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: 1. That the following described bonds are hereby called for redemption, the date of redemption being fixed on the 1st day of August, 1962: City of Corpus Christi, Texas, Airport Bonds, Series 1957, dated February 1, 1957, originally issued in the amount of $11750,000.00, now outstanding in the amount of $1,250,000.00, represented by Bonds Numbers 501 to 1750, both inclusive, of the denomination of $1,000.00 each, bearing interest at the rate of 3 -3/4;6 per annum, and maturing serially throughout the years 1963 to 1972, both inclusive - - - - - - - - - - - - - $1,250,000.00 2. Funds will be available at the Corpus Christi State National Bank, Corpus Christi, Texas, for the payment of the bonds. In the event said bonds are not presented for redemption, they shall thereafter cease to bear interest0from and after the date so fixed for redemption. 3. The City Secretary of the City of Corpus Christi, Texas, is hereby directed to give notice of intention to redeem said bonds in the following manner: by notice in writing to the Corpus Christi State National Bank, Corpus Christi, Texas, and by publication in The Bond Buyer, New York, New York, at least thirty days before the date fixed for redemption. 4. THE MAYOR, CITY SECRETARY, AND CITY TREASURER ARE HEREBY DIRECTED TO DO ANY AND ALL THINGS NECESSARY OR CONVENIENT TO CARRY OUT THE PROVISIONS OF THIS RESOLUTION. 5. THE FACT THAT THERE IS NOT SUFFICIENT TIME TO PERMIT CONSIDERATION OF THIS RESOLUTION AT THREE REGULAR MEETINGS AND THE PUBLIC IMPORTANCE OF IMMEDIATE.ACTION AS CONTEMPLATED BY THIS RESOLU- TION CREATES A PUBLIC EMERGENCY AND AN IMPERATIVE PUBLIC NECESSITY REQUIRING THE SUSPENSION OF THE CHARTER RULE THAT NO ORDINANCE OR RESOLUTION SHALL BE PASSED FINALLY ON THE DATE OF ITS INTRODUCTION AND THAT SUCH ORDINANCE OR RESOLUTION SHALL BE READ AT THREE SEVERAL MEETINGS OF THE CITY COUNCIL, AND THE MAYOR, HAVING DECLARED SUCH EMERGENCY AND NECESSITY TO EXISTS HAVING REQUESTED THE SUSPENSION OF SAID CHARTER RULE AND THAT THIS RESOLUTION BE PASSED FINALLY ON THE DATE OF ITS INTRODUCTION ANDTRAT SUCH RESOLUTION TAKE EFFECT AND BE IN FULL FORCE AND EFFECT FROM AND AFTER ITS PASSAGES IT IS ACCORDINGLY SO RESOLVED, THIS THE 40 DAY OF JUNEY 1962. ATTES V. MAYOR THE CITY OF CORPUS CHRISTI EXAS, CITY SECR TA APPROVED AS TO LEGAL FORM THIS _DAY OF JUNE, 1962: CITY ATTORNEY 0 D tk .'f 1 Y i CORPUS CHRISTI, TEXAS / DAY OF y 19 4 TO THE MEMBERS OF THE CITY COUNCIL CORPUS CHRISTI, TEXAS FOR THE REASONS SET FORTH IN THE EMERGENCY CLAUSE OF THE FORE- GOING ORDINANCE, A PUBLIC EMERGENCY AND IMPERATIVE NECESSITY EXIST FOR THE SUSPENSION OF THE CHARTER RULE OR REQUIREMENT THAT NO ORDINANCE OR RESOLUTION SHALL BE PASSED FINALLY ON THE DATE IT IS INTRODUCED, AND THAT SUCH ORDINANCE OR RESOLUTION SHALL BE READ AT THREE MEETINGS OF THE CITY COUNCIL; 1, THEREFORE, HEREBY REQUEST THAT YOU SUSPEND SAID CHARTER RULE OR REQUIREMENT AND PASS THIS ORDINANCE FINALLY ON THE DATE IT IS INTRODUCED, OR AT THE PRESENT MEETING OF THE CITY COUNCIL. RESPECTFULLY, MAYOR THE CITY OF CORPUS CI TEXA S THE CHARTER RULE WAS SUSPENDED BY THE FOLLOWING VOTE: BEN F. MCDONALD ,. TOM R. SWANTNER DR. JAMES L. BARNARD JOSE R. DELEON M. P. MALDONADO W. J. ROBERTS r ,! JAMES H. YOUNG ' THE ABOVE ORDINANCE WAS PASSED BY THE FOLLOWING VOTE: BEN F. MCDONALD c TOM R. SWANTNER r DR. JAMES L. BARNARD A& JOSE R. DELEON M. P. MALDONADO W. J. ROBERTS JAMES H. YOUNG YF ' F ; i 1<