HomeMy WebLinkAbout12885 ORD - 10/29/1975• vp:10 /28/75:lst
AN ORDINANCE
APPROPRIATING $8,327,396.99 FROM THE FOLLOWING
SOURCES: PROCEEDS OF SALE OF JUNIOR LIEN WATER
REVENUE BONDS TO TEXAS WATER DEVELOPMENT BOARD,
PRINCIPAL, OF $7,895,000.00, PREMIUM OF $12,396.99,
AND $420,000.00 OUT OF EXISTING WATER REVENUE
BOND INTEREST AND SINKING FUND RESERVES, FOR THE
PURPOSE OF ADVANCE REFUNDING OF EXISTING OUTSTAND-
ING FIRST MORTGAGE WATER REVENUE BONDS; AND DECLAR-
ING AN EMERGENCY.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS:
SECTION 1. There is hereby appropriated the sum of $8,327,396.99
from the following sources:
Proceeds of sale of Junior Lien Water Revenue
Bonds to Texas Water Development Board:
Principal $7,895,000.00
Premium 12,396.99
and
From the Water Revenue Bond Interest
and Sinking Fund Reserves $420,000.00
for the purpose of advance refunding of existing outstanding First Mortgage
Water Revenue Bonds.
r
SECTION 2. The necessity to appropriate the sumo hereinabove
for the purposes set forth 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 necessity
to exist, and having requested the suspension of the Charter rule and that
this ordinance 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 ORDAINED, this the � of October, 1975.
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APPROVED:
ZCl DAY OF OCTOBER, 1975:
S City orney
MAYOR a,
THE CITY OF CORPUS CHRISTI, TEXAS
12885
CITY OF'CORPUS CHRISTI, TEXAS
CERTIFICATION OF FUNDS
(City Charter Article IV Section 21)
October 29, 1975
I certify to the City Council that $ 8,327,396.99 , 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: From Proceeds of sale of junior lien bonds & premium $7,907,396.99
439 Water Revenue Bond Interest & Redemption Fund 420,000.00
Fund No. and Name TOTAL $ F, 327,3 .99
Purpose For the purpose of advance refunding of existing
outstanding first mortgage Water Revenue Bonds
from which it is proposed to be drawn, and such money is not appropriated for
any other purpose.
October 29 , 19-25_
Director o' Fi anc
FIN 2 -55
Revised 7/31/69
CORPUS CHRISTI, TEXAS
TO THE W16ERS OF THE CITY COUNCIL
COPPUS 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 18 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 18 INTRODUCED, OR AT THE PRESENT MEETING OF THE
CITY COUNCIL.
RESPECTFULLY,
MAYOR
TH CITY OF CORPUS CHRISTI, TEXAS
THE CHARTER RULE WAS SUSPENDED BY THE FOLLOWING VOTE:
JASON LUBY
DR. BILL TIPTOa
EDUARDO DE ASES
RUTH GILL
BOB GALLEY
GABE LOZANO, SR.
EDWARD L. SAMPLE
THE ABOVE ORDINANCE WAS PASSED BY THE FOLLOWING VOTE:
JASON LUBY
DR. BILL TIPTON
EDUARDO DE ASES
RUTH GILL
BOB GALLEY
GAGE LOZANO, SR.
EDWARD L. SAMPLE ��