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HomeMy WebLinkAbout10801 ORD - 04/19/1972THE STATE OF TEXAS COUNTY OF NUECES CITY OF CORPUS CHRISTI On this the 19th day of April, 1972, 'the City 4 Co it of the City of Corpus Christi, Texas, convened in r2 9!eeting, with the following members of said Council present, to -wit: Ronnie Sizemore, Mayor Charles Bonniwell Robert Bosquez, M.D. Harold Branch Commissioners Thomas Gonzales Gabe Lozano, Sr. J. Howard Stark T. Ray Kring, � Secretary with the following absent: a__" , constituting a quorum, at which time the following among other business was transacted: Mr. Sizemore, Mayor, presented for the consideration of the Council an ordinance. The ordinance was.ready by the City Secretary. The Mayor presented to the Council a communica- tion in writing pertaining to said proposed ordinance, as follows: "Corpus Christi, Texas April 19, 1972 "TO THE CITY COUNCIL Corpus Christi, Texas Gentlemen: "The public importance and pressing need for the permanent improvements to be constructed by use of the proceeds of bonds contemplated to be issued pursuant to an ordinance 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 authorizing the issuance of bonds as an emergency measure. You will please consider this request in connection with the ordinance which is to be introduced for passage by the City Council on this subject. "Yours very truly, /s/ Ronnie Sizemore, R Commissioner moved that the Charter , provision prohibiting ordinan4es44om being passed finally on the date introduced be suspended for the reasons stated in the written request of the Mayor and stated in the emergency clause of he ordinance. The motion was seconded by Commissioner The motion was carried by an unanimous vote by the ity Council, viz: AYES: Commissioners Bonniwell, Bosquez, h; Gonzales, Lozano and Stark. NAYS: None. The Mayor requested that the records shown that he voted Aye. This was done. Commissioner ed that the ordinance be sed finally. The motion was seconded by Commissioner The motion was carried by the following vote: AYES: Commissioners Bonniwell, Bosquez, B1, Gonzales, Lozano and Stark. NAYS: None. The Mayor requested that the records show that he voted Aye. This was done. The Mayor announced that the ordinance had been passed. The ordinance is as follows: I ORDINANCE NO. BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS, PROVIDING FOR THE ISSUANCE OF $4,806,000 CITY OF CORPUS CHRISTI, TEXAS, GENERAL IMPROVEMENT BONDS, SERIES 1972, BEAR- ING INTEREST AT THE RATES HEREINAFTER SET FORTH, AND PROVIDING FOR THE LEVY, ASSESSMENT AND COL- LECTION OF A TAX SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AND TO CREATE A SINKING FUND FOR THE REDEMPTION THEREOF AT MATURITY; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH AND DECLARING AN EMERGENCY. WHEREAS, it is deemed advisable and to the best interest of the City that various purpose bonds authorized at an election heretofore held in said City be combined in a single issue and sold at this time, the date of the elec- tion, amount of bonds authorized thereat,.purpose, amount of bonds previously sold and the amount now to be sold being as follows: DATE OF AMOUNT PROPOSITION NUMBER AMOUNT PRE - AMT NOW ELECTION AUTHORIZED AND PURPOSE VIOUSLY SOLD OFFERED 6/27/64 $ 200,000 4 -Fire Station $ 100,000 $ 100,00 7/13/68 2,500,000 2- Airport 2,400,000 100,00 2/14/70 1,700,000 1 -Park 1,150,000 550,00 2/14/70 251005000 4- Sanitary Sewer 1,010,000 300200 2/14/70 2,470,000. 2- Drainage Imp. 1,380,000 1,090,00 2/14/70 4,910,000 6- Street Improvement 2,244,000 2,666,00 ; and WHEREAS, it is hereby officially found and determined: that a case of emergency or urgent public necessity exists which requires the holding of the meeting at which this Ordinance is passed, such emergency or public necessity being that the procee from the proposed bonds are required as soon as possible and wit' out delay for necessary and urgently needed public improvements; that this meeting was open to the public as required by law; and that public notice of the time, place, and purpose of this meet- ing was given as required by Vernon's Ann. Civ. St. Article 6252 -17, as amended. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: 1©801- 1 1. That said City's coupons bonds to be designated the "City of Corpus Christi, Texas, General Improvement Bonds, Series 1972," are hereby authorized to be issued and delivered in accordance with the Constitution and laws of the State of Texas in the principal amount of $4,806,000 for the following purposes, to -wit: $100,000 for the purpose of providing funds for permanent public improvements, to -wit: the construction of two fire stations; $100,000 for the purpose of enlarging, improving and equipping the City's Airport, including runway and taxiway extensions and improvements; $550,000 for the purpose of improving lands for parks, including Cole Park fishing pier and seawall, pools at Brownlee and Winnebago and in the Greenwood area, acquisition along the Bayfront and at Ben Garza Park, building expansion at T. C. Ayers and Ben Garza, and improvements at Greenwood, Timon Parkway, Airport, Candle - wood, Country Club, Moody, Lexington, South Bay, Stonegate, Main Drive, and Hillcrest and other park improvements; $300,000 for the purpose of constructing improvements to the sanitary sewer system, including residential lines in Flour Bluff and along Leopard Street, Oso Treatment Plant improvements, Lawnview trunk line, and the Kostoryz Station force main, and other sanitary sewer improvements; $1,090,000 for the purpose of constructing drainage improvements, including Brownlee- Leathers Area, Mayfield Road and Starlite Lane, Richter Street area, Norton, Gardendale Area, McBride, Staples - Wooldridge Outfall, Flour Bluff Area, Westchester, Santa Fe, Hearn Road Outfall, Kostoryz Road and other neighborhood drainage improvements; and $2,666,000 for the purpose of improving the streets of the City, including South Staples from Padre Island Drive to Saratoga, North Alameda, McBride Lane, Gollihar from Caddo to Airline, Horne Road, Padre Island Drive lighting, West Point Road, Green- wood Drive, Violet Road, McKenzie Road, Prescott, Airline from Alameda to Ocean Drive, N.A.S. Drive, Ayers from Norton to Port, neighborhood streets and sidewalks, and other street and side- walk improvements. 2. That said bonds shall be dated April 10, 1972, shall be numbered consecutively from 1 through 962, shall be in the denomination of $5,000 each, except Bond Number 1 which shall be in the denomination of $1,000, and shall mature and become due and payable serially on January 10 in each of the years, and in the amounts, respectively, as set forth in the following schedule: YEAR AMOUNT YEARS AMOUNT 1973 $ 81,000 1983 $275,000 1974 125,000 1984 275,000 1975 125,000 1985 275,000 1976 150,000 1986 275,000 1977 200,000 1987 275,000 1978 275,000 1988 275,000 1979 275,000 1989 275,000 1980 275,000 1990 275,000 1981 275,000 1991 275,000 1982 275,000 1992 275,000 3. That as to said bonds scheduled to mature on and after January 10, 1983, said City shall have the right and optio to redeem such bonds prior to their scheduled maturities, in whole or in part, in their inverse numerical order, on Janu- ary 10, 1982, or on any interest payment date thereafter, for the principal amount thereof plus accrued interest to the date fixed for redemption, plus a premium of 22%, such premium to be reduced 4 of 1% on January 10 of each year thereafter. At least thirty days before the date fixed for any such redemption, the City shall cause a written notice of such redemption to be published at least once in a finalcial publica- tion printed in the City of New York, New York. By the date fixed for any such redemption, due provision shall be made with the paying agents for the payment of the principal amount of the bonds to be so redeemed, plus accrued interest thereon to the date fixed for redemption and any premium as required above. If the written notice of redemption is published, and if due provision for such payment is made, all as provided above, the bonds, which are to be so redeemed, thereby automatically shall be redeemed prior to maturity, and they shall not bear interest after the date fixed for redemption, and shall not be regarded as being outstanding except for the purpose of receiving the funds so provided for such payment. 4. That said bonds shall bear interest from their date, until maturity or redemption, at the following rates: all bonds scheduled to mature during the years 1973 through 1981 - -- 5.90 % per annum; all bonds scheduled to mature during the years 1982 through 1986 - -- 5.00 % per annum; all bonds scheduled to mature during the years 1987 through 1988 - -- 5.20 % per annum; all bonds scheduled to mature during the years 1989 through 1990 - -- 5.25 % per annum; all bonds scheduled to mature during the years 1991 through 1992 - -- 4.00 % per annum; with said interest to be evidenced by interest coupons payable on January 10, 1973, and semi - annually thereafter on each July 10 and January 10. '5. That the principal of and interest on said bonds shall be payable to bearer, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of proper bond or interest coupon, at Corpus Christi State National Bank, Corpus Christi, Texas, or, at the option.of the bearer, at The Chase Manhattan Bank, N.A., New York, New York, or at Harris Trust and Savings Bank, Chicago, Illinois, which places shall be the paying agents for said bonds. I 6. That each of said bonds and interest coupons shall be signed by the imprinted or lithographed facsimile signature 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. 7. That the form of said bonds, including the form of Registration Certificate of the Comptroller of Public Accounts of the State of Texas to be printed and endorsed on each bond, and the form of the interest coupons to be attached to said bonds, shall be, respectively, substantially as follows: (FORM OF BOND) NO. UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF NUECES CITY OF CORPUS CHRISTI, TEXAS GENERAL IMPROVEMENT BOND SERIES 1972 $5,000 On January 10, 19_, the City of Corpus Christi, in t County of Nueces, State of Texas, promises to pay to bearer the principal amount of FIVE THOUSAND DOLLARS and to pay interest thereon, from the date hereof, at the rate of % per annum, evidenced by interest coupons payable January 10, 1973, and semi - annually thereafter on each July 10 and January 10 while this bond is outstanding. The principal of this bond and the interest coupons attached hereto shall be payable to bearer, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of this bond or proper interest coupon, at the Corpus Christi State National Bank, Corpus Christ', Texas, or, at the option of the bearer, at The Chase Manhattan Bank, N.A., New York, New York, or at Harris Trust and Savings Bank, Chicago, Illinois, which places shall be the paying I agents for this Series of bonds. This bond is one of a Series of coupon bonds dated April 10, 1972, issued in the principal amount of $4,806,000 for the following purposes, to -wit: $100,000 for the purpose of providing funds for permanent public improvements, to -wit: the construction of two fire stations; $100,000 for the purpose of enlarging, improving and equipping the City's Airport, includ ing runway and taxiway extensions and improvements; $550,000 for the purpose of improving lands for parks, including Cole Park fishing pier and seawall, pools at Brownlee and Winnebago and in the Greenwood area, acquisition along the Bayfront and at Ben Garza Park, building expansion at T. C. Ayers and Ben A, Garza, and improvements at Greenwood, Timon Parkway, Airport, Candlewood, Country Club, Moody, Lexington,.South Bay, Stonegate Main Drive, and Hillcrest and other park improvements; $300,000 for the purpose of constructing improvements to the sanitary sewer system, including residential lines in Flour Bluff and along Leopard Street, Oso Treatment Plant improvements, Lawnview trunk line, and the Kostoryz Station force main, and other sanitary sewer improvements; $1,090,000 for the purpose of constructing drainage improvements, including Brownlee- Leathers Area, Mayfield Road and Starlite Lane, Richter Street area, Norton, Gardendale Area, McBride, Staples - Wooldridge Outfall, Flour Bluff Area, Westchester, Santa Fe, Hearn Road Outfall, Kostoryz Road and other neighborhood drainage improvements; and $2,666,000 for the purpose of improving the streets of the City, including South Staples from Padre Island Drive to Saratoga, North Alameda, McBride Lane, Gollihar from .Caddo to Airline, Horne Road, Padre Island Drive lighting, West Point Road, Green- wood Drive, Violet Road, McKenzie Road, Prescott, Airline from Alameda to Ocean Drive, N.A.S. Drive, Ayers from Norton to Port, neighborhood streets and sidewalks, and other street and side- walk improvements. The bonds of this Series scheduled to mature on and after January 10, 1983, may be redeemed prior to their schedule maturities, in whole, or in part in inverse numerical order, at the option of said City, on January 10, 1982, or on any interes payment date thereafter, for the principal amount thereof plus accrued interest to the date fixed for redemption, plus a premium of 22%, such premium to be reduced k of 1% on January of each year thereafter. At least thirty days before the date fixed for any such redemption the City shall cause a written notice of such redemption to be published at least once in a financial publication printed in the City of New York, New York. By the date fixed for any such redemption, due provision shall be made with the paying agents for the payment of the principal amount of the bonds to be redeemed, plus accrued interest thereon to the date fixed for redemption, and any premium as required above. If the written notice of redemption is published, and if due provision for such payment is made, all as provided above, the bonds, which are to*be so redeemed, thereby automatically shall be redeemed prior to maturity, and they shall not bear interest after the date fixed for redemption and shall not be regarded as being outstanding except for the purpose of receiving the funds so provided for such payment. It is hereby certified and recited that this bond has been duly and validly voted, authorized, issued, and delivered in accordance with the Constitution and laws of the State of Texas; that this bond is a general obligation of said City, issued on the full faith and credit thereof; and that the ad valorem taxes, upon all taxable property in said City, neces- sary to pay the interest on and principal of this bond, as such interest comes due, and such principal matures; have been irrevocably for such purpose, within the limit prescribed Ilaw. In witness whereof, this bond.and the interest coupons tached hereto have been signed by the imprinted or lithographed facsimile signature of the Mayor of said City and counteisigned b�l the imprinted or lithographed facsimile signature of the City Secretary of said City, and the official seal of said City has ben duly impressed, or printed, or lithographed on this bond. Secretary, City of Corpus Mayor, City °Texasspus Christi, Christi, Texas (FORM OF REGISTRATION CERTIFICATE) COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO. I hereby certify that this bond has been examined, tified as to validity, and approved by the Attorney General the State of Texas; and that this bond has been registered the Comptroller of Public Accounts of the State of Texas. Witness my signature and seal this Comptroller of Public Accounts of the State of Texas (FORM OF INTEREST COUPON) NO. On , 19_, the City of Corpus Christi, in the County of Nueces, State of Texas, promises to pay to bearer, unless due provision has been made for the redemption prior to maturity of the bond to which this interest coupon is attached, the amount of Dollars in lawful money of the United States of America, without exchange or collection charges) to the bearer, upon presentation and surrender of this interest coupon, at the Corpus Christi State National Bank, Corpus Christ Texas, or, at the option of the bearer, at The Chase Manhattan Bank, N.A., New York, New York, or at Harris Trust and Savings Bank, Chicago, Illinois, said amount being interest due that i, t day on the bond, bearing the number hereinafter designated, of that issue of City of Corpus Christi, Texas, General Improvement Bonds, Series 1972, dated April 10, 1972. Bond No. City Secretary Mayor 8. That a special fund or account, to be designated the "City of Corpus Christi, Texas, General Improvement Bonds, Series 1972, Interest and Sinking Fund" is hereby created and shall be established and maintained by said City at its official depositary bank. Said Interest and Sinking Fund shall be kept separate and apart from all other funds and accounts of said City, and shall be used only for paying the interest on and principal of said bonds. All taxes - levied and collected for and on account of said bonds shall be deposited, as collected, to the credit of said Interest and Sinking Fund. During each year while any of said bonds or interest coupons appertaining thereto are outstanding and unpaid, the City Council of said City shall compute and ascertain the rate and amount of ad valorem tax, based on the latest approved tax rolls of said City, with full allowances -being made for tax delinquencies and costs of tax collections, which will be sufficient to raise and produce the money required to pay the interest on said bonds as such interest comes due, and to provide a sinking fund to pay the principal of such bonds as such principal matures, but never less than 2% of the original principal amount of said bonds as a sinking fund each year. Said rate and amount of ad valorem tax is hereby ordered to be levied and is hereby levied against all taxable property in said City for each year while any of said bonds or interest coupons appertaining thereto are outstanding and unpaid, and said ad valorem tax shall be assessed and i collected each such year and deposited to the credit of the aforesaid Interest and Sinking Fund. Said ad valorem taxes necessary to pay the interest on and principal of said bonds, as such interest comes due, and such principal matures, are hereby pledged irrevocably for such purpose, within the limit (prescribed by law. 9. The sa//l11e o the bonds herein authorized /t/Jo� � � at a price of par and accrued interest to date of delivery, plus a premium'of 9- Y1- 00, is hereby confirmed. Delivery of such bonds shall be made to such purchasers as soon as may be after the passage of this ordinance upon payment therefor in accordance with the terms of the.sale. 10. That the Mayor of said City is hereby authorized to have control of said bonds and all necessary records and proceedings pertaining to said bonds pending their delivery and their investigation, examination, and approval by the Attorney General of the State of Texas, and their registration by the Comptroller of Public Accounts of the State of Texas. Upon registration of said bonds, said Comptroller of Public Accounts (or a deputy designated in writing to act for said Comptroller) shall manually sign the Comptroller's Registration Certificate prescribed herein to be printed and endorsed on each bond, and the seal of said Comptroller shall be impressed, or printed, or lithographed on each of said bonds. 11. It is hereby officially found and determined that the meeting at which said bonds were authorized was open to the public as required by law and public notice of the time, place, and purpose of said meeting was given as required by Vernon's Ann. Civ. St. Article 6252 =17, as amended. i 12. That the City covenants that the proceeds from the sale of the Bonds will be used as soon as practicable for the purpose for which the Bonds are issued and will not be used to acquire, or to replace funds which were used directly or indirectly to acquire, securities (within the meaning of Section 165(g)(2)(A) or (B) of the Internal Revenue Code of 1954, as amended, (the "Code ")), or obligations (other than obligations described in subsection (a)(1) of Section 103 of the Code), which produce a yield which is "materially higher" (within the meaning of subsection (d)(2)(A) of Section 103 of the Code) than the yield on the Bonds- except for a temporary period pending such use, to the extent permitted by Section 103(d)(4)(A) of the Code. The District further covenants that such proceeds will not be used directly or indirectly so as to cause all or any part of the bonds to be or.become "arbitrage bonds" within the meaning of Section 103(d) of the Internal Revenue Code of 1954, as amended. 13. The fact that the contemplated use of the proceeds of the bonds is necessary for the orderly development and growth of the City of Corpus Christi, Texas, creates a publ . emergency and an imperative public necessity requiring the suspension of the Charter Rule providing that no ordinance or resolution shall be passed finally on the date it is intro- duced and that such ordinance or resolution shall be read at three several meetings of the City Council and the Mayor having declared that such public emergency and imperative necessity exist, and having requested that said Charter Rule be suspended and that this ordinance take effect and be in full force and effect from and after its passage, it is accordingly so ordained. 14. That all ordinances and resolutions or parts thereof in conflict herewith are hereby repealed. PASSED AND APPROVED this the 19th day of April, 1972. ATTEST: 1 City Secretary Cit} of Corn&s Christi, Tex The foregoing ordinance was approved'prior to passage as to form and correctness this If9day of April, 1972. City Attorney, City of Corpus Christi, Texas s CORPUS CHRISTI, TEXAS DAY. OF iC.L.Q.. , TO THE MEMBERS OF THE CITY COUNCIL CORPUS CHRISTI, TEXAS FOR THE REASONS SET FORTH IN THE EMERGENCY CLAUSE OF THE FOREGOING ORDINANCE, A PUBLIC EMERGENCY AND IMPERATIVE NECESSITY EXIST FOR THE SUSPEN- SION 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, REQUEST THAT YOU SUSPEND SAID CHARTER RULE OR REQUIREMENT AND PASS THIS ORDI- NANCE FINALLY ON THE DATE IT IS INTRODUCED OR AT THE PRESENT MEETING OF THE CITY COUNCIL. RESPECTF LYE a 0 MAYOR THE CITY OF CORD RISTI, TEXAS THE CHARTER RULE WAS SUSPENDED BY THE FOLLOWING VOTE: RONNIE SIZEMORE CHARLES A. BONNIWELL ROBERTO BOSQUEZ, M.D. _Ca-L,Q, REV. HAROLD T. BRANCH THOMAS V. GONZALES GABE LOZANO, SR. J. HOWARD STARK THE ABOVE ORDINANCE WAS PASSED BY THE FOLLOWING VOTE: BONNIE $IZEMDRE CHARLES A. BONNIWELL _ ROBE RTO BOSQUE 2, M.D. REV. HAROLD T. BRANCH THOMAS V. GONZALES GABE LOZANO, SR. n // J. HOWARD STARK 0 } CITY '0- F :CORPUS CHRISTI-,'TtXAS TO THE CITY COUNCIL Corpus Christi, Texas Gentlemen: ZIP CODE 78408 ASST. CITY ATTORNEYS �efCrM+eD- w+- BRRDBwfeW ewnfeeb-- BneH�IBw ROBERT W. COFFIN MfhRtEB- �- BRBMNltL HAL GEORGE JAMES MOKIBBEN, — BOB L. TERRY Bill McKinney Bill Monkres Clyde Jackson The public importance and pressing need for the permanent improvements to be constructed by use of the proceeds of bonds contem- plated to be issued pursuant to an ordinance 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 authorizing the issuance of bonds as an emergency measure. You will please consider this request in connection with the ordinance which is to be introduced for passage by the City Council on this subje You very truly O O Ronnie Size re MAYOR •µT MAYOR RO NNIE SIZEMORE — -h N - -�' V _� CITY MANAGER R. MARVIN TOWNSEND��ll -;1, �8gy # - CITY COUNCIL CI SECRETARY • CHARLES A SONNIWELL ♦ T. RAY KRING MAYOR PRO TEM LEGAL DEPARTMENT ROBERT' BOSOUCZ. M.D. JAMES R. RIGGS . CITY ATTORNEY CITY OFFICES -� REV HAROLD T. BRANCH V. G LES - so UTH S POST OFFICE Bo y THOMAS GABE LOZANO. EA. April 19, 1972 NE mlZl Ba GDII TO THE CITY COUNCIL Corpus Christi, Texas Gentlemen: ZIP CODE 78408 ASST. CITY ATTORNEYS �efCrM+eD- w+- BRRDBwfeW ewnfeeb-- BneH�IBw ROBERT W. COFFIN MfhRtEB- �- BRBMNltL HAL GEORGE JAMES MOKIBBEN, — BOB L. TERRY Bill McKinney Bill Monkres Clyde Jackson The public importance and pressing need for the permanent improvements to be constructed by use of the proceeds of bonds contem- plated to be issued pursuant to an ordinance 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 authorizing the issuance of bonds as an emergency measure. You will please consider this request in connection with the ordinance which is to be introduced for passage by the City Council on this subje You very truly O O Ronnie Size re MAYOR 17 1 _ CITY OF CORPUS CHRISTI, TEXAS Lc rY tBID TABULATION - $4,806,000 GENERAL IMPROVEMENT BONDS, SERIES 1972 +± 1 BIDS OPENED:' 11:00 A.M., C.S.T., APRIL 19, 1972 Bidder pis Trust & Savings Bank (low bid accepted) ae Northern Trust Company -ne First.Boston Corporation ne First National Bank of Fort Worth astman Dillon, Union Securities & Co. -nearson, Hammill & Co., Inc. _. G. Becker & Co., Inc. :first City National Bank of Houston .:an Kampen Wauterlek & Brown, Inc. :n Nuveen & Co., Inc. .:ovules, Winston & Co., Inc. - nderwood Neuhaus & Co., Inc. ::orpus Christi State National Bank .:auscher Pierce Securities Corp. =an Brothers, Inc. _helps, Fenn & Co. Goldman, Sachs & Co. shields & Co. F. Rothschild & Co. =st National Bank in Dallas =Terrill Lynch, Pierce, Fenner & Smith, Inc. �iornblower & Weeks - Hemphill, Noyes =irst National Bank of Miami Girard Bank - Philadelphia Fort Worth National Bank Paine, Webber, Jackson & Curtis Texas Commerce Bank N.A. E. F. Hutton & Co., Inc. = lcKinney, Rose & Co., Inc. atinental Illinois National Bank & ;fist Company of Chicago _.. W. Pressprich & Co., Inc. Stone & Webster Securities Corp. First National Bank in St. Louis Iteinho.idt & Gardner Prescott, Merrill, Turben & Co. ,Bank of the Southwest, N.A. A. S. Hart & Co., Inc. Coughlin & Co., Inc. ldman, Sachs & ComQany Effective Total Less Net Interest Interest Cash Interest Rate Cost Premium Cost 5.0416% $2,762.090.50 $2,841.00 $2,759,249.50,' 5.0619 2,770,345 00 -- .2,770,345.OG 5.067494 2,774,759.75 1,345.77 2,773,413.99 5.0748 2,777,443.44 30.00 2,777,413.41 5.08911 2,789,079.37 3,831.54 2,785,247.8;' 5.108405 2,796,149.37 344.95 2,795,804.4! s! 7 r Bid Tabulation - Continued Page 2 ° Effective Total Less Net Interest Interest Cash Interest Bidder Rate Cost Premium Cost =st National City Bank 5.1089 $2,799,220.00 $3,109.48 $2,796,110.52 z5ankers Trust Company Hirst National Bank of Chicago :teynolds Securities, Inc. industrial National Bank of Rhode Island ,T. H. Morton & Co. (Div. of Amer. Sec.) :tells & Christensen Inc. public National Bank of Dallas =cantile National Bank at Dallas 5.1206 2,805,280.25 2,800.00 2,802,480.25 sotan, Mosle- Dallas union, In ,t. texas Bank & Trust Co. of Dallas z;hite, Weld & Co., Inc. ?irst of Texas, Inc. AWL- Hayden, Stone Dominick & Dominick, Inc. Pity National Bank & Trust Co. stern Bros. & Company =gan Guaranty Trust Company of New York 5.1438 2,816,683.00 1,477.00 2,815,206.00