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Home My WebLink About07772 ORD - 10/27/1965ORDINANCE NO. BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS, AUTHORIZING THE ISSUANCE OF FOUR (4) BONDS TO REPLACE BONDS OF CITY OF CORPUS CHRISTI, TEXAS, GENERAL IMPROVE- MENT BONDS, SERIES 1963 -A, WHICH WERE LOST, AND RESOLVING OTHER MATTERS RELATED TO THE SUBJECT; AND D RGLNCY. WHEREAS, the City Council of the City of Corpus Christi, Texas, has issued, sold and delivered the following bonds of the City: City of Corpus Christi, Texas, General Improvement Bonds, Series 1963 -A, dated October 1, 1963, $3,750,000; and WHEREAS, four (4) bonds of the above described Series of bonds are more particularly described as follows, to -wit: Bonds numbers 452, 453, 454, and 455 in the denomination of $5,000 each, bearing interest at the rate of 3.20% per annum, payable semi - annually on each October 1 and April 1 while said bonds are outstand- ing with the last interest payment having been paid on April 1, 1965. Said bonds are outstanding and unpaid and shall mature on October 1, 1978, unless called for early redemption; and WHEREAS, said described bonds were purchased on May 12, 1965, by the First National Bank in Dallas, Dallas, Texas, from The Citizens and Southern National Bank, Atlanta, Georgia, and due to an unforseen accident, these bonds were lost. The First National Bank in Dallas has made a thorough search of their 7'7'72 premises and it is their belief that said bonds were inadvertentl sent through the machines which shred all waste paper of the Bank and WHEREAS, the First National Bank in Dallas, Dallas, Texas, has provided satisfactory indemnification to the City of Corpus Christi for the replacement of these numbered bonds and coupons and said Bank has provided an Affidavit signed by the Authorized Official of said Bank stating the facts in reference to the receipt and subsequent loss of said bonds; and WHEREAS, pursuant to law, Chapter 334, Acts 1965, 59th Legislature, Regular Session, the City of Corpus Christi is fully authorized to provide for the replacement of any bonds which have been lost. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI: SECTION 1, That there is hereby authorized to be issued, Replacement Bonds to replace bonds numbers 452, 453, 454 and 455 of City of Corpus Christi, Texas, General Improvement Bonds, Series 1963 -A, which were lost. Said Replacement Bonds w i 11 be in the same form as said lost bonds and will be in all respects of like tenor and effect as the bonds which they are to replace and said coupons which will appertain to said Replacement Bonds will have their first coupon maturity on October 1, 1965. SECTION 2, Said Replacement Bonds shall bear the date of the original issue of said bonds, October 1, 1963. SECTION 3. That each of said bonds and interest coupon shall be signed by the imprinted or lithographed facsimile signa- ture of the Mayor of said City and countersigned by the imprinted or lithographed facsimile signature of the City Secretary of said City, and the official seal of said City shall be impressed or printed or lithographed on each of said bonds. The facsimile SIGNATURE OF THE MAYOR AND THE CITY SECRETARY SHALL BE THOSE OFFICIALS WHO ARE PRESENTLY HOLDING OFFICE IN THE CITY OF CORPUS CHRISTI, TEXAS. SECTION $. THAT SAID BONDS SHALL BE SUBMITTED TO THE ATTORNEY GENERAL OF THE STATE OF TEXAS FOR HIS APPROVAL. IF THE ATTORNEY GENERAL FINDS THAT SUCH BONDS HAVE BEEN ISSUED IN ACCORDANCE WITH THE PROVISIONS OF LAW HE SHALL APPROVE SAME AND SAID BONDS SHALL BE TRANSMITTED TO THE COMPTROLLER OF PUBLIC ACCOUNTS FOR REGISTRATION. THE COMPTROLLER SHALL REGISTER ALL SUCH REPLACEMENT BONDS IN THE SAME MANNER AS THE ORIGINAL BONDS WERE REGISTERED, GIVING IT THE SAME REGISTER NUMBER AS THE ORIGINAL BONDS EXCEPT THAT SUCH NUMBER SHALL BE PRECEDED BY THE - LETTER R. THE ' COMPTROLLER SHALL DATE HIS REGISTRATION CERTIFICATE AS OF THE DATE OF REGISTRATION OF THE REPLACEMENT BOND. THE COMPTROLLER OF PUBLIC ACCOUNTS SHALL THEN BE INSTRUCTED BY THE CITY OF CORPUS CHRISTI TO DELIVER SAID BONDS TO THE FIRST NATIONAL BANK IN DALLAS, DALLAS, TEXAS. SECTION 6. ALL PROVISIONS OF THE ORDINANCE AUTHORIZING THE SERIES OF BONDS WHICH WERE LOST WHICH ARE NOT IN CONFLICT WITH THIS ORDINANCE ARE HEREBY ADOPTED BY REFERENCE AND SHALL BE A PART OF SAID ORDINANCE. SECTION 7.' THE PUBLIC IMPORTANCE AND PRESSING NEED FOR THE CITY OF CORPUS CHRISTI TO AUTHORIZE THE ISSUANCE OF FOUR (4) BONDS TO REPLACE BONDS OF CITY OF-CORPUS CHRISTI, TEXAS, GENERAL IMPROVEMENT BONDS, SERIES 1963 -A, WHICH WERE LOST, CREATE AN EMERGENCY AND AN IMPERATIVE PUBLIC NECESSITY REQUIRING THE SUSPENSION OF RULES AND CHARTER PROVISIONS REQUIRING ORDINANCES TO BE CONSIDERED AND VOTED UPON AT THREE REGULAR MEETINGS. I,• THEREFORE, REQUEST THAT THE CITY COUNCIL PASS THE PROPOSED ORDINANCE AUTHORIZ- ING THE ISSUANCE OF FOUR (4) BONDS TO REPLACE LOST BONDS OF CITY OF CORPUS CHRISTI, TEXAS, GENERAL IMPROVEMENT BONDS, SERIES 1963 -A, AS AN EMERGENCY. YOU WILLA, PLEASE CONSIDER THIS REQUEST IN CONNECTION WITH THE ORDINANCE WHICH HAS BEEN INTRODUCED IN THE CITY COUNCIL ON THIS SUBJECT. PASSED AND APPROVED THIS THE 0?7 DAY OF OCTOBER, 1 65. ATTEST: Y SECRETARY THE IT�`f 0 .'CORP S CHRISTI, TEXAS THE FOREGOING ORDINA WAS APPROVED PRIOR TO PASSAGE AS TO FORM AND CORRECTNESS THIS THE 2_TH DAY OF OCTOBER, 1965- CITY ATTORNEY, CITY OF CORPUS CHRISTI, _ TEXAS CORPUS CHRISTI, TEXAS DAY OF ��, �9_ -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; 1, 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, YOR THE CITY OF"OR�PUS CHRISTI, TEXAS THE CHARTER RULE WAS SUSPENDED BY THE FOLLOWING VOTE: DR. MCIVER FURMAN aL� .LACK BLACKMON PATRICK J. DUNNE DR. P. JIMENEZ, JR. KEN MCDANIEL RONNIE SIZEMORE WM. H. WALLACE THE ABOVE ORDINANCE WAS PASSED BY THE FOLLOWIN VOTE: DR. MCIVER FURMAN JACK BLACKMON PATRICK J. DUNNE DR. P. JIMENEZ, JR. KEN MCDANIEL RONNIE SIZEMORE WM. H. WALLACE