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Home My WebLink About06926 ORD - 06/05/1963__:IMS:JKH:6 -4 -63 AN ORDINANCE AUTHORIZING AND DIRECTING THE CITY MANAGER TO ENTER INTO AN ESCROW! AGREEMENT BETWEEN -THE CITY AND NEWCORTEX, INC., WITH THE CORPUS CHRISTI STATE NATIONAL BANK AS ESCROW AGENT, PROVIDING FOR THE HOLDING OF A DEPOSIT OF $100,000.00 IN NEGOTIABLE UNITED STATES TREASURY BILLS AS SECURITY FOR THE PERFORMANCE OF THE OBLIGATIONS CONTAINED IN THE GOLF COURSE LEASE BETWEEN THE CITY AND NEWCORTEX, INC., IN LIEU OF THE PER- FORMANCE BOND, A COPY OF WHICH ESCROW AGREEMENT IS ATTACHED HERETO AND MADE A PART HEREOF; AND DECLARING AN EMERGENCY. WHEREAS, BY WRITTEN INSTRUMENT DATED JANUARY 31, 1963, AND RECORDED IN VOLUME 995 PAGES 390 -407, DEED RECORDS OF NUECES COUNTY, TEXAS, CITY, AS LESSOR, ENTERED INTO A LEASE WITH HARRINGTON & CORTELYOU, A PARTNERSHIP, WHICH LEASE HAS BEEN ASSIGNED TO AND ASSUMED BY NEWCORTEX, INC., WITH NEWCORTEX ASSUMING ALL OF THE LESSEES OBLIGATIONS THEREIN; AND WHEREAS, SAID LEASE REQUIRES A DEPOSIT OF CASH OR NEGOTIABLE SECURITIES OR DELIVERY OF A PERFORMANCE BOND IN THE AMOUNT OF $100,000.00 TO SECURE THE PERFORMANCE OF THE OBLIGATION OF THE LESSEE TO MAKE A MINI- MUM EXPENDITURE OF $200,000.00 IN CONSTRUCTING AN 18 -HOLE GOLF COURSE AND APPURTENANCES IN ACCORDANCE WITH THE TERMS OF SAID LEASE; AND WHEREAS, IT IS AGREEABLE TO THE PARTIES HERETO TO DEPOSIT THE SUM OF $100,000.00 IN NEGOTIABLE UNITED STATES TREASURY BILLS WITH THE CORPUS CHRISTI STATE NATIONAL BANK AS ESCROW AGENT TO SECURE THE PERFORM- ANCE OF THE CONDITIONS OF SAID LEASE: NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. THAT THE CITY MANAGER BE, AND HE IS HEREBY, AUTHORIZED AND DIRECTED TO EXECUTE, FOR AND ON BEHALF OF THE CITY OF CORPUS CHRISTI, AN ESCROW AGREEMENT BETWEEN THE CITY AND NEWCORTEX, INC., WITH THE CORPUS CHRISTI STATE NATIONAL BANK AS ESCROW AGENT FOR THE HOLDING OF $100,000.00 IN NEGOTIABLE SECURITIES, SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN SAID ESCROW AGREEMENT, A COPY OF WHICH IS ATTACHED HERETO AND MADE A PART HEREOF. . 6926 SECTION 2. THE NECESSITY FOR IMMEDIATE EXECUTION OF SUCH ESCROW AGREEMENT TO FACILITATE THE PROMPT COMMENCEMENT OF PERFORMANCE OF THE CONDITIONS REQUIRING INSTALLATION OF IMPROVEMENTS ON THE GOLF COURSE LEASED PREMISES CREATES A PUBLIC EMERGENCY AND AN IMPERATIVE PUBLIC NECESSITY REQUIRING THE SUSPENSION OF THE CHARTER RULE THAT NO ORDINANCE OR RESOLUTION SHALL BE PASSED FINALLY ON THE DATE OF ITS INTRODUCTION AND THAT SUCH ORDINANCE OR RESOLUTION SHALL BE READ AT THREE SEVERAL MEETINGS OF THE CITY COUNCIL, AND THE MAYOR HAVING DECLARED THAT SUCH EMERGENCY AND NECESSITY EXIST, AND HAVING REQUESTED THAT SUCH CHARTER RULE BE SUSPENDED AND THAT THIS ORDINANCE BE PASSED FINALLY ON THE DATE OF ITS INTRODUCTION AND -AKE EFFECT AND BE IN FULL FORCE AND EFFECT FROM AND AFTER ITS PASSAGE, IT IS ACCORDINGLY SO ORDAINED, THIS THE -C DAY OF JUNE, 1963. ATTEST: IV THE CITY OF CORPUS CHRISTI, TEXAS CITY- SECRETARY / / APPROVED AS TO LE FORM THI THE C� DAY OF , 1963' //% CITY ATTORNEY P.tiCR17l AQi�i3� 2� a'�t��ll;' ,is ea�e�aisted tks$s 3�'d ��` cst +r�ex �•5�3, - by and betwes the,'/ rat aoxpsc arhri0,ie7s: alat3t�g kltrmaixaP ; 'by Anti thrOA& It* UtY M.rsager,. 041tO e01W. and W-Wovtol,. 7na�, a. To=* eorporati6zk with 16tt9OV At ,Corpus Christi* Veaass, called "Ikvdortee, azd Corpus Chrlati Stayer, X4tional Zsaiias s. . moorta g ossoatuon with othevo corpus haria ti, Texas, Caiiatd "EEmolov, Aacntx,, and VMFVW, by 'l rIttto izst. nam t x adt' wry 31m ?$63, ataci recorded 33t'Ybls y 9 s` !�` 9 ' wed ftcorda at , rcea County,,, ` ex$*, Olty, as tesA6r; :dntor 4 iata a lrtse kith "arx"nooA 4 tbir't 7l t, .it par e 1 ;. e h Iaa" been assigned to aazd ass mod by tit;tf bwta2t, with lowaartgx ass mt- . dr.& sal of the r0#v a +s ; 0-lizatianyal tber*ln ;, and . VW, ;06.441 � :ice drda 'thy 3.eata�m try tat, t n F tr K , 9 t•- e and by Us .aaa�p�3asa 'Of user 3ees8"X coz+tea boa *zroad to aake, A miaa4mura eaper diture'.o! In con stxructitstt ors and APjvJrteWt �O laxs4a by ,Owed. 1e6ae, ces rt # 4ormloting -of an 1$-bole ',g0lf CCPLTa iW' X j =eSir v'O 4rlm oz range, a ±a lub bouso 'bua+li ns and a Water- system t tmh Itaam bei% oore fiartriculArly Oesorlbod at ' Q*ndatory +Coraatruduo'd Itenw, in Artlals XT-A of Said U-420' t* whUh Idai : refere ?ae :to here, tARd* jr6r M3 p v". With ttuah it �O tO constr=W In accord with rbwLpum Od a oclf eatipns .whjob bava beratarora bean opproYed by. City,: and- 40ontrootion to Leta bot later th mrixtT (tap) 4art &Aor 0o opproval, of m*1 phis, aA opeam— - vatlons and to he a0*14 ed ioithin taco ±9) yaearw and slaty, (60) 40gs Crams the 4ato of *Pprova l ar, f nal playas and speolticatlons; . and W=m i In Article ]Z ct $$Ad Ac tae it to vroviO4 that the Zee*** sba ll furnish to City at "rformance and payngn't bond, t4 to maltiier 4 40ROXit :or cash br beeotia"ble Simurit ts, or * tons tonh a oowmto #qft%)r uit==-4 to -busiotzo An *h* two or vozuo in OA *—,%MtA lot Uoo*=*O> #4,dAV*=n-v* eAt usst* gam A*o u* rAu4torr C=strwowz Utts to oor&=* with 'rte' � CU*% oommd o4t$ arA ovolfift0o= ArA that, Ztgfto* It* 4=44*400 V-4 *4-#--AUOtO0# W -ftv ul w-.lw4 gaterjAult U1,11# Amo vA*=::At tomift-46 to i�� vttAA ud ral--PlAt* « to ftmuh *o:;zjPlt 'p; r'-z-owuo sh tho C--W%t ot #100,000#o rc'.- *4h prozo* t alzIt=t om 2=00A *A -m�uol* V., 0. Tmu., gim o�ojx olud *=;woldo *blah are to to hold ior Z"r4l Mimi. V4"=* t* %h* r;�"Aaumx ot -thio A:.v=At. sw caft-Amg tus "=At U,41.4% AZZO OU V3 4=%witits am "Id ral IVA 04*14% V4 uu it *a% told wal Or tt* V4:h sl c *, 0 X-==ux twx w 040 tr tht* #4w#6tofw At cam V* AUU :dlloa tit ft v=!%10-Ar in to.101=44 vuh thotoov.-Vo mu poxx irA vt4lat"Ouou " trAto As or 444b� f'", r=--opus ho =to a #ua tx;=duv--* in tutu JA-,4z7*w-U,r4 00 c3f otal oftr UA "I "-W p" to #11 tstovlwo# V*l* Urst *v.,Oxl4= *!%Xu U vatstUd to,st:Ovo Pg= U41=* lz".k t-FIF j:t,-otuu* —ItAraloo wa ud OjtyL **Il# tir UrItlift 4:Ml4=v,. -4w XA tll* nvont wewcop,Uz 046U WI to 2ompl± to tote eftndatory' om tm4tion items" #ritbu tai rears ud Oixt (Sty) - 404 frm the dabs. of Ai+Vrovai or to a. vlma aZd #Peat fltaatiWaa„ or is tiro •event,, Vri.9r to zizh ti", [gortt*x O,asU 'Aho11'r tail to 4Arform its Olisattono tzder tho Saab amdt to In dofata+ *Zd the la "Of tae fin lly, aA1140aed boram -the- WO onstx�cti it ep s ccta�tlsts4, ',t3 a7ty ' io * ther ±af wactt, ° ev+azit ,City has 3 ± entitled to a1X; 01 Vwt of tho *Mti.mtbl+ie eaurltied -held ;a+y Zdorax sit- _b*reuWgr ail► coi,16 0 U. tide t xa+eaatao to. ca s e ttie atidistci Cana z ctissn' t aaccarding. to Vw t r�. l pUnb amd .opt aitleati exceeds than- '- azount of the XCZPtZ ble? aur9.titie 4 City, sU1Z be. OntitUd to a1�, of thet lteptie►ble 4*quXj IcW.. 'g unt nettaiary to Ooeplec * the Sulutory - coroitzio'dw, Item i4440 a 'to the r4ma3, V11ms and *V"%r3aat. OOw Ads` : C* *' *_Aiaiii; 400 W -C Sao* thov -4#y nhWU bs aantitIC4 :to ro;A J4 ,each ra .tan 4- the Vegdtixblr ,. curititaa -atd aba. 3, OVA3. the 4 A of '.dwplatiozs or tb* YMA0,011Y crn+strasction Xte= And Xettcartea Aball be tn#t ,led`to reaetvn tho rem 9r Of tho POS4tUbl* ,Sect 'Pitiali.._ Ocrow agent Mill, in Oither Ot such mrotC, doliver, MO,9044101a ,40ntt01#140 tQ { 401ty, gar, to Cur An* lltcwc6vteac, in "eor4zd* atlh tbe• *fora 0414 _Wu dt as arritum 410noo by- City of art *X, It, Se un4pratood 'rat the *A*tasablee fierur ties WA ti�-Zmorowc Aput WU3 .V*tare Octo� 31 j -1963, Vpon tha: vAturtty , thexof 8saxw Agrit` ti, hci24 the pxOoeaiiak In oaah br :mil rol avert. aals or 0=4 Vortiono or th±e procreft as, ida'Iecortex atraa l di otf provio",� 'howottep,, tilt ouch, poceedw may b+a war in obligat me of a i tilted Mattes of ',oar %ma or 61i. tatiatse aukraht* t9 the -cr+edit or tb* vniudw tit m* of Amato. Such relplaaaftt VoUrItits and all pzgceipd* thorcot Xbol �- lain UX40r' th* 06t trot. of E4crox ; tit t* bd ,b*3A subject to, 4 the Ta"OVIS ons or -Ole *agree rnt. -3 r I IC xv JA is-0 -4 UO U-t roo Aga* Zu.*U d AAA saA, mot oaf o Oswofta ter "lots tr vrls� exouto* is Oft. AD ti r -�A"* or 'Our# to tr *t or *I::* td# mr4 4mo* 00 to Ux t3 's 4=1 ios, -w 0*' 4u."t lot bf)t=# fto t.U%Ics# zovo 013, Otuv, x;:::tdtcA to Protot luWA Uzal, NrA vq#to *, it oy *=# s*=Or U cvj.:!ht U*.2vu )990 stAg U AUKA AU v=h aouto* sh* #=g* s* t,* umo as tmz� 44sts Ato W,4 ry to f4sudzto lor U# icturt. ,to tripluAto 04 uo 4AU Amt 007* A, M2,24 "low C411=410MUTZ VATS VATU'."AZ Z= *4w CORPUS CHRISTI, TEXAS DAY OF , 19j�j. 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; I, THEREFORE, HEREBY REQUEST THAT YOU SUSPEND SAID CHARTER RULE OR REQUIREMENT AND PASS THIS ORDINANCE FINALLY ON THE DATE IT IS INTRO- DUCED, OR AT THE PRESENT MEETING OF THE CITY COUNCIL. RESPECTFULLY, 0 THE CITY OF CORPUS CHRISTI, TEXAS. THE CHARTER RULE WAS SUSPENDED BY THE FOLLOWING VOTE: JAMES L. BARNARD JAMES H. YOUNG JACK R. BLACKMON JOSE R. DELEON M. P. MALDONADO W. J. ROBERTS W. H. WALLACE, JR. THE ABOVE ORDINANCE WAS PASSED BY THE FOLLOW NG VOTE: JAMES L. BARNARD JAMES H. YOUNG JACK R. BLACKMON JOSE R. DELEON M. P. MALDONADO W. J. ROBERTS W. H. WALLACE, JR.