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Home My WebLink About12787 RES - 09/03/1975h JKH:hb:9 /3/75 A RESOLUTION AUTHORIZING FILING OF APPLICATION FOR FINANCIAL ASSISTANCE FROM THE TEXAS WATER DEVELOPMENT BOARD; AND DESIGNATING THE OFFICIAL REPRESENTATIVES OF THE CITY TO ACT IN SUCH RESPECTS; AND DECLARING AN EMERGENCY. WHEREAS, the City of Corpus Christi is in need of additional capacity in its basic water supply system which can be provided by the construction of the Nueces River Project, Texas by the Bureau of Reclamation, Department of Interior, United States of America, as is described in detail in the Feasibility Report prepared July 1971 entitled, Nueces River Project, Texas by the Bureau of Reclamation; and WHEREAS, under the terms and provisions of Public Law 93 -493 passed by the Congress on October 27, 1974 which authorizes the construction fi of the Nueces River Project, Texas, consisting of the Choke Canyon Dam and a' Reservoir on the Frio River as well as other facilities described therein,' t contains a requirement that funds be advanced to the Bureau of Reclamation 1 by the local sponsors, the amount of such advance funds being now estimated in excess of $19,427,125; and WHEREAS, the City of Corpus Christi has heretofore joined in a submission to the Texas Water Development Board of a Notice of Intention filed for the purpose of establishing eligibility of the Nueces River Project, Texas and the City of Corpus Christi for financial assistance available from the Texas Water Development Board; and WHEREAS, at a hearing held on the 19th day of August, 1975, at which said Notice of Intention was considered by the Texas Water Development Board the City was informally advised to explore various methods of financing prior to the submission of a formal application and was encouraged to consider an application which would provide financial assistance to the City of Corpus Christi in the refunding of $7,105,000 City of Corpus Christi First Mortgage Waterworks Revenue Bonds as well as a portion of the funds required to be advanced under the provisions of Public Law 93 -493 for construction of the Nueces River Project, Texas; and WHEREAS, THE City Manager, staff, and financial advisor of 1278 the City of Corpus Christi have explored various methods of financing available to the City for making available advance funds required by Public Law 93 -493 and have recommended to the City Council: That substan- tial benefits will accrue to the City by refunding the $7,105,000 City of Corpus Christi First Mortgage Waterworks Revenue Bonds; that financial assistance for the purpose of obtaining a portion of the required advance , funds for construction of the Nueces River Project -, Texas would be in the City's best interest; and, that the City should file an application for such financial assistance from the Texas Water Development Board in the manner hereinafter described; and WHEREAS, the City Council considers the Nueces River Project, Texas to be vital to the City of Corpus Christi and its environs and fully eligible for and requiring financial assistance from the Texas water Development Board through its purchase of bonds payable from a pledge of net revenues of the City's waterworks system; and WHEREAS, said City Council considers that the public interest requires State participation and that the project cannot be financed without State assistance; and WHEREAS, this City Council has determined to make formal , application for such assistance from the said Texas Water Development Board as provided by its Rules and Regulations; therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. The findings and determinations contained in the preamble hereof are adopted by this reference as a part of this resolution to the same effect as though here again recited. SECTION 2. That submission of a formal application addressed to the Texas Water Development Board requesting financial assistance in the sum of- $15,000,000 through the purchase of the City's waterworks and sewer system revenue bonds be and the same is hereby authorized. SECTION 3. That the City Manager and the Financial Advisor to the City are hereby designated the City's official representatives in -2- preparing, executing and submitting the aforementioned application. SECTION 4. That the City Manager and the City's Financial Advisor are hereby authorized to represent the City before said Texas Water Development Board, as their services may appear to be appropriate, in matters pertaining to said application. SECTION 5. The necessity to submit formal application to request financial assistance from the Texas Water-Development Board 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 that such emergency and necessity exist, and having requested the suspension of the Charter rule and that this resolution be passed finally on the date of its introduction and take effect and be in full force and effect from and after its passage, IT IS ACCORDINGLY SO RESOLVED, this the Jy of , 1975. ATTEST: O y Secretary MAY0Rplo em THE CITY OF CO US CHRISTI, TEXAS APPROVED: __3 _DAY OF , 1975: /,f "— City Attorney- —� CORPUS CHRISTI, TEXAS DAY OF j9 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, i /MAYOR Fla'JuIll THE CITY OF COR CHRISTI, TEXAS THE CHARTER RULE WAS SUSPENDED BY THE FOLLOWING VOTE: JASON LUBY ' DR. BILL TIPTON ' EDUARDO DE ASES RUTH GILL - BOB GULLEY GABE LOZANO, SR. EDWARD L. SAMPLE THE ABOVE ORDINANCE WAS PASSED BY THE FOLLOWING VOTE: JASON LUBY OR. BILL TIPTON EDUARDO DE ASES RUTH GILL BOB GULLEY - - GABE LOZANO, SR. EDWARD L. SAMPLE 5 ' RESOLUTION APPROVING APPLICATION FOR FINANCIAL ASSISTANCE FROM THE TEXAS WATER DEVELOPMENT BOARD THE STATE OF TEXAS X X CITY OF CORPUS CHRISTI COUNTY OF NUECES I ON THIS the 3rd day of September, 1975, the City Council convened in regular session, being open to the public, at the regular meeting place thereof, there being present and in attendance the following members: BILL TIPTON, EDUARDO DE ASES MAYOR PRO TEM COUNCIL MEMBER, RUTH GILL COUNCIL MEMBER BOB GULLEY COUNCIL MEMBER GABE LOZANO, SR. COUNCIL MEMBER EDWARD L. SAMPLE R. MARVIN TOWNSEND and COUNCIL MEMBER CITY MANAGER BILL G. READ CITY SECRETARY and the following absent: Jason Luby, Mayor, constituting a quorum, at which time the following, among other proceedings, was transacted. L CERTIFICATE OF THE SECRETARY. THE STATE OF TEXAS COUNTY OF NUECES I, the undersigned, City Secretary, DO HEREBY CERTIFY that the foregoing is a true and correct copy of a resolution approving application for financial assistance from the Texas Water Development Board, dated September 3, 1975, (and minutes pertaining to its adoption) and recorded in the minutes of said City. IN WITNESS WHEREOF, I have hereunto signed my name officially and affixed the seal of said City, this the 3rd day of September, 1975. ( S E A L ) MpOrgecretary City of Corpus Christi, Texas r , i