HomeMy WebLinkAbout12437 ORD - 01/22/1975JRR:jkh:oc:1/21/75
1st
AN ORDINANCE
AUTHORIZING THE EMPLOYMENT OF HOBBY H.
McCALL AND M. E. ALLISON, SR. TO PROVIDE
LEGAL AND FINANCIAL SERVICES, RESPECTIVELY,
RELATING TO THE PROPOSED SALE OF $6,800,000
GENERAL IMPROVEMENT BONDS ON FEBRUARY 26,
1975; APPROPRIATING $23,500 FROM VARIOUS
BOND FUNDS, AS OUTLINED HEREINAFTER, THE
ESTIMATED COSTS OF THE BOND SALE; AND
DECLARING AN EMERGENCY.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI, TEXAS:
SECTION 1. That authorization is hereby given for
the employment of Hobby H. McCall and M. E. Allison, Sr., to
provide legal and financial services, respectively, relating
to the proposed sale of $6,800,000 General Improvement Bonds
on February 26, 1975, said estimated costs being as follows:
Bond Attorney $ 7,250
Financial Advisor 13,595
Prospectus Printing 1,000
Bond Printing 1,100
Postage 200
Contingencies 355
23,500
SECTION 2. There is hereby appropriated the sum
of $23,500 out of various bond funds as hereinafter set forth
for estimated costs of the aforesaid bond sale:
SECTION 3. The necessity for making the appropriation
as described hereinabove and to authorize employment of bond
counsel and financial advisor for the proposed February 26, 1975,
General Improvement Bond sale 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 but that such ordinance
or resolution shall be read at three several meetings of the
City Council, and the Mayor having declared such emergency and
12437
Fund
Bonds Sold
Percent
A ropr1- ion
207
Public Building Bond
00,000
13.24%
3,111.40
Fund (Health Bldgs.)
208
Auditorium Bond Fund
4,400,000
64.70%
15,204.50
220
Street Bond Fund
900,000
13.24%
3,111.40
295
Storm Sewer Bond Fund
600,000
8.82%
2,072.70
56,800,000
100.00%
$ 23,500.00
SECTION 3. The necessity for making the appropriation
as described hereinabove and to authorize employment of bond
counsel and financial advisor for the proposed February 26, 1975,
General Improvement Bond sale 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 but that such ordinance
or resolution shall be read at three several meetings of the
City Council, and the Mayor having declared such emergency and
12437
necessity to exist, and having requested the suspension of
the Charter rule and that this ordinance take effect and be
in full force and effect from and after its passage, IT IS
ACCORDINGLY SO ORDAINED, this the oc� day of January, 1975.
ATTEST:
4fiSecretary MAYO
THE CITY OF CORPUS CHRISTI,
APPROVED: TEXAS
019 DAY OF JANUARY, 1975:
I�Mw S ��
ty Atto ey
EXEC., ASST.,
CITY OF CORPUS CHRISTI, TEXAS
CERTIFICATION OF FUNDS
(City Charter Article IV Section 21)
January 17, 1975
I certify to the City Council that $ 23,500 , the amount required
for the contract, agreement, obligation or expenditures contemplated in the
above and foregoing ordinance is in the Treasury of the City of Corpus Christi
to the credit of:
Fund No. and Name See Schedule M Below
Project No.
Project Name Bond Issuance Expense (cost of selling
$6,800,000 General Improvement Bonds on
e ruary ,
from which it is proposed to be drawn, and such money is not appropriated for
any other purpose.
Fund
207 Public Building Bond Fund
208 Auditorium Bond Fund
220 Street Bond Fund
295 Storm Sewer Bond Fund
FIN 2 -55
Revised 7/31/69
��'4 S
23,500.00
Qe,,-.x / -/ , 19�
.(�WTka'
irector of F' ce
Proj . No. Ii /
207 -72 N
Amount
3,w . o
2CI- 72 -OJW
15,2o4.50
220 -72 -0
3,711.40
295 -72 -0
2,072.70
23,500.00
s - •
Corpus Christi, Texas
day of , 19
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; I, 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.
Respectfully,
MAYOR
THE CITY OF CORPUS CHRISTI, TEXAS
The Charter rule was suspended by the following vote:
Jason Luby
James T. Acuff
Rev. Harold T. Branch
Thomas V. Gonzales
Ricardo Gonzalez
Gabe Lozano, Sr.
J. Howard Stark
The above ordinance was passed by the following vote:
Jason L+ ±hy
James T. Acuff
Rev. Harold T. Branch
Thomas V. Gonzales
Ricardo Gonzalez
Gabe Lozano, Sr.
J. Howard Stark