HomeMy WebLinkAbout13141 ORD - 04/21/1976THE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI
On this the 21st day of April, 1976, the City
Council of the City of Corpus Christi, Texas, convened in
Regular Meeting, with the following members of said Council
and officials of said City present, to -wit:
Jason Luby, Mayor
Bill Tipton, DDS, Mayor Pro -Tem
Eduardo de Ases
Ruth Gill
Bob Gulley Councilmen
Gabe Lozano, Sr.
Edward L. Sample
R. Marvin Townsend, City Manager
J. Bruce Aycock, City Attorney
Harold F. Zick, Director of Finance
Bill G. Read, City Secretary
Alton White, Jr., Tax Assessor- Collector
with the following absent: None ,
constituting a quorum, at which time the following among other
business was transacted:
Mr. Luby, Mayor, presented for the consideration of
the Council an ordinance. The ordinance was read by the City
Secretary. The Mayor presented to the Council a communication
in writing pertaining to said proposed ordinance, as follows:
"Corpus Christi, Texas
"TO THE CITY COUNCIL
Corpus Christi, Texas
Gentlemen:
The public importance and pressing need for the
permanent improvements to be constructed by the use of the pro-
ceeds 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 ordi-
nances 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.-
;.&-aaso son very tru ,
Luby
Mayor"
Councilman Lozano moved that the Charter
provision prohibiting ordinances from 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 the ordinance. The
motion was seconded by Councilman Gill The motion was
carried by an unanimous vote by the City Council, viz:
AYES: Councilmen de Ases, Gill, Gulley, Lozano, Sample and
Tipton.
NAYS: None.
The Mayor requested that the records show that he voted Aye.
This was done.
Councilman Lozano moved that the ordinance be passed
finally. The motion was seconded by Councilman Gill . The
motion was carried by the following vote:
AYES: Councilmen de Ases, Gill, Gulley, Lozano, Sample and Tipton.
NAYS: None.
The Mayor requested that the records show that he voted Aye.
This was done.
The Mayor announced that the ordinance has been passed. The
ordinance is as follows:
•
ORDINANCE NO. ! I'f�cl
BY THE CITY COUNCIL OF THE CITY OF CORPUS
CHRISTI, TEXAS, PROVIDING FOR THE ISSUANCE
OF $3,500,000 CITY OF CORPUS CHRISTI, TEXAS,
GENERAL IMPROVEMENT BONDS, SERIES 1976,
BEARING INTEREST AT THE RATES HEREINAFTER
SET FORTH, AND PROVIDING FOR THE LEVY, ASSESS-
MENT AND COLLECTION 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
12/09/72 $3,600,000 4 - Sanitary Sewer $1,260,000 $1,135,000
12/09/72 3,525,000 5 -Park 1,800,000 1,390,000
12/09/72 300,000 7C- Service Center 75,000 - --
12/09/72 3,200,000 8 - Drainage 2,200,000 500,000
12/09/72 4,275,000 9 - Street 3,225,000 475,000
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 pro-
ceeds from the proposed bonds are required as soon as possible
and without 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 meeting 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. That said City's coupon bonds to be designated
the "City of Corpus Christi, Texas, General Improvement Bonds,
Series 1976" 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 $3,500,000 for the following
purposes, to -wit: $1,135,000 for the purpose of constructing
improvements to the sanitary sewer system, including Broadway
Plant improvement, Saratoga main, Calallen trunk, and lines in
the Flour Bluff, Calallen, Tulosa Midway, and Corpus Christi
beach areas and other sanitary sewer improvements; $1,390,000
for the purpose of improving lands for park purposes including
South (McGee) and Corpus Christi beach development, softball
field facilities, swimming pools at Flour Bluff and Woodlawn
Parks, museum improvements, and improvements at Bayfront, Los
Encinos, Woodlawn, Cole and various other parks; $500,000 for
the purpose of constructing drainage improvements, including
bay -front pump station modification, ditch improvements along
Flynn and Shea Parkways, and the Van Galen Ditch; local drainage
in the six points, Mayfield Lane, Casa Blanca, Arboleda,
Flour Bluff, and Lorraine Street areas, major drainage facilities
in the West Oso High School and Williams Drive areas, and other
drainage facilities; $475,000 for the purpose of improving the
streets of the City, including neighborhood streets, sidewalks
to school sites, traffic signals, street lighting, Leopard
Street resurfacing from Battlin Buc to Broadway, Airline from
Padre Island Drive to Williams Drive, Rostoryz from Padre Island
Drive to Holly Road, McArdle Road from Airline to Mt. Vernon
Park, North Staples from Leopard to Broadway, Nueces Bay
Boulevard from Leopard to IH 37, Waldron from Carribean to
Purdue, Starlite from Leopard to Sunny, Cooper Alley from
Mesquite to Tancahua and other street improvements.
•
2. That said bonds shall be dated April 15, 1976,
shall be numbered consecutively from 1 through 700, shall be
in the denomination of $5,000 each, and shall mature and become
due and payable serially on April 15 in each of the years, and
in the amounts, respectively, as set forth in the following
schedule:
YEARS AMOUNTS
YEARS AMOUNTS
1977 $100,000
1987 $200,000
1978 100,000
1988 200,000
1979 100,000
1989 200,000
1980 100,000
1990 200,000
1981 100,000
1991 200,000
1982 200,000
1992 200,000
1983 200,000
1993 200,000
1984 200,000
1994 200,000
1985 200,000
1995 200,000
1986 200,000
1996 200,000
3. That as to said
bonds scheduled to mature on
and after April 15, 1987, said City shall have the right and
option to redeem such bonds prior to their scheduled maturities,
in whole or in part, in their
inverse numerical order, on
April 15, 1986, 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 2'g%, such
premium to be reduced h of to
on April 15 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 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 pro-
vision 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:
Bonds maturing through - -- 6 s0 % per annum;
Bonds maturing Lq Y2 through - -- S,3y % per annum;
Bonds maturing �� through / - - -% per annum;
Bonds maturing /_17 through - -- L3~% per annum;
Bonds maturing lf?d through/ &, - -- i:Od % per annum;
with said interest to be evidence by interest coupons payable
on October 15, 1976, and semi - annually thereafter on each
April 15 and October 15.
S. That the principal of and interest on said bonds
shall be payable to bearer, in lawful money of the United
States cf America, without exchange or collection charges to
the bearer, upon presentation and surrender of proper bond or
interest coupon at Corpus Christi Bank & Trust, Corpus Christi,
Texas, or at the option of the holder, 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.
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.
$5,000
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI, TEXAS,
GENERAL IMPROVEMENT BOND
SERIES 1976
On April 15, 19_, the City of Corpus Christi, in the
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
October 15, 1976, and semi - annually thereafter on each April 15
and October 15 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 Bank & Trust, 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 this Series"of bonds.
This bond is one of a Series of bonds of like tenor
and effect except as to number, maturity, interest rate and
right of prior redemption, numbered 1 through 700, of the
denomination of $5,000 each, dated April 15, 1976, issued in the
•
principal amount of $3,500,000, for the following purposes,
to -wit: $1,135,000 for the purpose of constructing improvements
to the sanitary sewer system, including Broadway Plant improve-
ment, Saratoga main, Calallen trunk, and lines in the Flour
Bluff, Calallen, Tulosa Midway, and Corpus Christi beach areas
and other sanitary sewer improvements; $1,390,000 for the pur-
pose of improving lands for park purposes including South (McGee)
and Corpus Christi beach development, softball field facilities,
swimming pools at Flour Bluff and Woodlawn Parks, museum improve-
ments, and improvements at Bayfront, Los Encinos, Woodlawn, Cole
and various other parks; $500,000 for the purpose of constructing
drainage improvements, including bay -front pump station modifi-
cation, ditch improvements along Flynn and Shea Parkways, and
the Van Galen Ditch; local drainage in the six points, Mayfield
Lane, Casa Blanca, Arboleda, Flour Bluff, and Lorraine Street
areas, major drainage facilities in the West Oso High School and
Williams Drive areas, and other drainage facilities; $475,000
for the purpose of improving the streets of the City, including
neighborhood streets, sidewalks to school sites, traffic signals,
street lighting, Leopard Street resurfacing from Battlin Buc to
Broadway, Airline from Padre Island Drive to Williams Drive,
Kostoryz from Padre Island Drive to Holly Road, McArdle Road
from Airline to Mt. Vernon Park, North Staples from Leopard to
Broadway, Nueces Bay Boulevard from Leopard to IH 37, Waldron
from Carribean to Purdue, Starlite from Leopard to Sunny, Cooper
Alley from Mesquite to Tancahua and other street improvements.
The bonds of this Series scheduled to mature on and
after April 15, 1987, may be redeemed prior to their scheduled
maturities, in whole or in part, in inverse numerical order, at
the option of said City, on April 15, 1986, or on any interest
payment date thereafter, for the principal amount thereof plus
C
accrued interest to the date fixed for redemption, plus a premium
of 2'h %, such premium to be reduced 4 of 1% on April 15 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 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 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, necessary
to pay the interest on and principal of this bond, as such
interest comes due, and such principal matures, have been pledged
irrevocably for such purpose, within the limit prescribed by law.
In witness whereof, this bond and the interest coupons
I
attached hereto have been 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
has been duly impressed, or printed, or lithographed on this
bond.
City Secretary, City of Corpus Mayor, City of Corpus Christi,
Christi, Texas Texas
(FORM OF REGISTRATION CERTIFICATE)
COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO.
I hereby certify that this bond has been examined,
certified as to validity, and approved by the Attorney General
of the State of Texas; and that this bond has been registered
by the Comptroller of Public Accounts of the State of Texas.
Witness my signature and seal this
NO.
Comptroller of Public Accounts of
the State of Texas
(FORM OF INTEREST COUPON)
c
On , 19—, the City of Corpus Christi,
in the County of Nueces, State of Texas, promises to pay to
bearer, the amount of Dollars in
lawful money of the United States of America, without exchange
collection charges to the bearer, upon presentation and surrender
of this interest coupon, at the Corpus Christi Bank & Trust,
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, said amount being
interest due that day on the bond, bearing the number hereinafter
designated, of that issue of City of Corpus Christi, Texas,
General Improvement Bonds, Series 1976, dated April 15, 1976.
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 1976, Interest and Sinking Fund" is hereby created and
shall be established and maintained by said City at its official
depository 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 com-
pute 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 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. (a) That said bonds are hereby sold and shall be
delivered to First City National Bank of Houston; Rotan- Mosle, Inc., Joint
Managers and Texas Bank and Trust of Dallas , at a price of par and
accrued interest to date of delivery, plus a premium of $
(b) That the'Mayor of said City is hereby authorized ti
have control of said bonds and all necessary records and pro-
ceedings 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.
10. 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.
11. That the City covenants to and with the purchasers
of the bonds that it will make no use of.the proceeds of the
bonds at any time throughout the term of this issue of bonds
which, if such use had been reasonably expected on the date of
delivery of the bonds to and payment for the bonds by the
purchasers, would have caused the bonds to be arbitrage bonds
within the meaning of Section 103(d) of the Internal Revenue Code
of 1954, as amended, or any regulations or rulings pertaining
thereto; and by this covenant the City is obligated to comply
with the requirements of the aforesaid Section 103(d) and all
•
applicable and pertinent Department of the Treasury regulations
relating to arbitrage bonds. The City further covenants that
the proceeds of the bonds will not otherwise 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 the aforesaid
Section 103(d), or any regulations or rulings pertaining thereto.
12. 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 public 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 introduced 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.
13. That all ordinances and resolutions or parts
thereof in conflict herewith are hereby repealed.
PASSED AND APPROVED this the 21st day of April, 1976.
City of Corpus Christi, Texas
ATTEST:
City S Secretary
City of Corpus Christi, Texas
The foregoing ordinance was approved prior to passage
as to form and correctness this the 21st day of April, 1976.
114SWA
City Attorney
City of Corpus Christi, Texas
CORPUS CHRISTI, TEXAS
2LI* DAY OF APA1L p 19 7.L
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 SMALL 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,
LL:=' "_�a
THE CIiy OF CORPUS CHRISTI, TEXAS
THE CHARTER RULE WAS SUSPENDED BY THE ,, FOLLOWING VOTE:
JASON LUBY
DR. BILL TIPTON
EDUARDO DE ASES
RUTH GILL
Boo GULLEY
GABE LOZANO# SR, -
EDWARD L. SAMPLE
1
THE ABOVE ORDINANCE WAS PASSED BY THE FOLLOWING VOTE:
JASON LUSY
DR. BILL TIPTON
EDUARDO DE ASES
RUTH GILL
BOB GULLEY
GABE LOZANO, SR.
EDWARD L. SAMPLE
t
GENERAL CERTIFICATE
THE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI
We, the undersigned, hereby officially certify that
we are the Mayor, City Secretary and Director of Finance,
respectively, of said City, and we further certify as follows:
1. That said City is a duly incorporated Home Rule
City, having more than 5000 inhabitants, operating and existing
under the Constitution and laws of the State of Texas and the
duly adopted Home Rule Charter of said City, which Charter has
not been changed or amended since February 20, 1974, the date of
passage of the ordinance authorizing the issuance of the most
Recently dated, issued and outstanding tax obligations of said Ci-
2. That no ligiation of any nature has ever been
filed pertaining to, affecting or contesting: (a) the issuance,
delivery, payment, security or validity of the proposed City of
Corpus Christi, Texas, General Improvement Bonds, Series 1976,
dated April 15, 1976, in the aggregate principal amount of
$3,500,000; (b) the authority of the officers of said City to
issue, execute and deliver said bonds and interest coupons; or
(c) the validity of the corporate existence, the current Tax
Rolls, or the Charter of said City; and that with the exception
of the following cases contesting certain annexation proceedings
of the City, which if lost by the City would not reduce the
amount of the 1974 ad valorem tax rolls as shown below, no
litigation is pending pertaining to, affecting or contesting
the boundaries of said City, to -wit:
State of Texas ex rel. City of Corpus Christi
vs. Percy A. Hartman, et al, No. 115,034 -D,
105th Judicial District Court, Nueces County.
The City of Corpus Christi vs. Percy Hartman,
et al, No. 115,039E, 148th District Court,
Nueces County, Texas.
State of Texas ex rel. Lonnie Glasscock III vs.
City of Corpus Christi, et al, No. 15,776, 36th
Judicial District Court, San Patricio County,
Texas.
3. That on the 21st day. of April, 1976, the date an
Ordinance was passed authorizing the issuance of City of
Corpus Christi, Texas, General Improvement Bonds, Series 1976,
and at the present time, the following persons were and are the
duly elected or appointed and qualified officials of said City:
Jason Luby,
Bill Tipton, DDS,
Eduardo De Ases
Ruth Gill
Bob Gully
Gabe Lozano, Sr. .
Edward L. Sample .
R. Marvin Townsend,
J. Bruce Aycock,
Harold F. Zick,
Bill G. Read,
Alton White, Jr.,
Mayor
Mayor Pro -Tem
Councilmen
City Manager
City Attorney
Director of Finance
City Secretary
Tax Assessor - Collector
•
4. That the currently effective ad valorem Tax Rolls
of said City are those for the year 1975, being the most re-
cently approved Tax Rolls of said City; that the City Commissioner
of said City has caused the taxable property in said City to be
assessed as required by law; that the Board of Equalization of
said City has equalized and approved the valuation of taxable
property in said City for said year; that the Tax Assessor of
said City has duly verified the aforesaid Tax Rolls, and said
Board of Equalization has finally approved the same; and that
the valuation of taxable property in said City, and the aggre-
gate amount of exemptions; if any, of assessed values of resi-
dence homesteads of persons sixty five years of age or older
pursuant to Section 1 -b(b) of Article VIII of the Texas Constitu-
tion, and the net effective taxable value of taxable property
in said City, according to the aforesaid Tax Rolls for said year,
as delivered to the City Secretary of said City, and finally
approved and recorded by the City Commission of said City, are
as follows:
Assessed Value: $ 1,082,992,785
Homestead Exemptions: 22,996,005
Taxable Values: $ 1,059,996,780
SIGNED AND SEALED this the n2lday of April, 1976.
City Secretary Mayor
Director of in e
(SEAL)
APPROVED AS TO FORM AND CORRECTNESS this 21st day of
April, 1976.
G
ty Attorney, ffty of Corpus
risti, Texas.
A
CITY OF CORPUS CHRISTI, TEXAS
BID TABULATION - $3,500,000
GENERAL IMPROVEMENT BONDS, SERIES 1976 1 /'Ca
BIDS OPENED:
11:00
A.M., APRIL 21,
19,76
Effective
Total
Less
Net
Interest
Interest
Cash
Interest
BIDDER
Rate
Cost
Premium
Cost
First City National Bank of Houston
4.982963
$2,018,100.00
$ —
$22018,100.00
Rotan - Mosle, Inc.
Texas Bank & Trust Co. of Dallas
Guaranty National Bank & Trust
5.0128
2,030,200.00
—
- 2,030,200.00
First National Bank in Dallas
5.0166
2,031,850.00
111.00
2,031,739.00
Fort Worth National Bank
Paine, Webber, Jackson & Curtis
E. F. Hutton & Co., Inc.
Harris Trust & Savings Bank, Chicago
5.0266
2,035,800:00
33.00
2,035,767.00
The Northern Trust Company
The First Boston Corporation
B1yth,Eastman Dillon & Co.,.Inc.
Waterlek & Brown, Inc.
First Penn.co
John Nuveen & Co., Inc.
5.0489
2,045,675.00
875.00
2,044,800.00
Rauscher Pierce Securities Corp.
Rawles, Winston Div., Cowen & Co.
Underwood, Neuhaus & Co., Inc.
Republic National Bank of Dallas
5.0490
2,045,400.00
525.00
2,044,875.00
Republic National Bank of Dallas
Mercantile National Bank at Dallas
Loeb, Rhoades & Co.
White, Weld & Co., Inc.
Shearson Hayden Stone Inc.
United Missouri Bank. of Kansas City
Eppler, Guerin & Turner, Inc.
Weeden & Co., Inc.
5.05704
2,048,099.98
—
2,048,099.98
Bank of the Southwest, Houston
Allied Bank of Texas, Houston
Citibank, N.A.
5.0691
2,053,400.00
400.00
2,053,000.00
Bankers Trust Co.
First National Bank of Chicago
W.H. Morton & Co.
Reynolds Securities, Inc.
Bancnorthwest
.farrill Lynch, Pierce, Fenner & Smith
5.0728
2,054,350.00
—
2,054,350.00
Corpus Christi National Bank
5.21501
20121,750.00
9,670.50
2,112,079.50
CITY
OR CORPgS CHRISTI, TEAS'
BID TABULATION - $3,500,000
GENERAL INPROVEPLSNT BONDS, SERIES 1976_
BIDS OPENED: ' 11:00
A.M., APRIL 21,
1976
Effective
Total
Less
Net
Interest
Interest
Cash
Interest
BIDDER
Rate
Cost
Premium
Cost
First City National Bank of Houston
4.982963
$2,018,100.00
$ —
$2,018,100.00
Rotan- Mosle, Inc.
Texas Bank & Trust Go. of Dallas
Guaranty National Bank & Trust
5.0128
2,030,200.00
—
2,030,200.00
First National Bank in Dallas
5.0166
2,031,850.00
111.00
2,031,739.00
Fort Worth National Bank
Paine, Webber, Jackson & Cu=tis
E. F. Hutton & Co., Inc..
Harris Trust & Savings Bank, Chicago
5.0266
2,035;800:00
33.00
2,035,767.00
The Northern Trust Company
The First Boston Corporation•
Blyth,Eastm m Dillon & Co., Inc.
Waterlek & Brawn, Inc.
' First Penn.co
-
John Nuveen & Co.,'Inc.
5.0489
2,045,675.00
875.00
2,044,800.00
Rauscher Pierce Securities Corp.
Rowles, Winston Div., Cowen & Co.
Underwood, Neuhaus & Co., Inc.
Republic National Bank of Dallas
5.0490
2,045,400.00
525.00
2,044,875.00
Republic National Bank of Dallas
Mercantile National Bank at Dallas
Loeb, Rhoades & Co.
White, Weld & Co., Inc.
Shearson Hayden Stone Inc.
United Missouri Bank of Kansas City
Eppler, Guerin & Turner, Inc.
Weeden & Co., Inc.
5.05704
2,048,099.98
—
2,048,099.98
Bank of the Southwest, Houston
Allied Bank of Texas, Houston
Citibank, N.A.
5.0691
2,053,400.00
400.00
2,053,000.00
Bankers Trust Co.
First National Bank of Chicago
W.H. Morton & Co.
Reynolds Securities, Inc.
Bancnorthwest
Merrill Lynch, Pierce, Fenner & Smith
5.0728
2,054,350.00
—
2,054,350.00
Corpus Christi National Bank
5.21501
2,121,750.00
9,670.50
29112,079.50
OFFICIAL BID FORM
PROPOSALFOR
$3,500,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
The City Of Corpus Christi
Corpus Christi, Texas
Gentlemen:
April 21, 1976
Subject to the terms of the Official Statement and Bidding Conditions we offer to pay par plus accrued Interest to
date of delivery and a cash premium of $ -0- for $3,500,000 City of Corpus Christi, Texas, General Im-
provement Bonds, Series 1976 bearing Interest at the following rates:
For Bonds Maturing Coupon Rate
1977 through 81 6.50
1982 through 5.25
1983 through 88 4.75
1989 through 4.85
1990 through 96 5.00
We agree to accept delivery and make payment for the bonds without cost to us at City National
Bank, Austin, Texas; or at the
, and in accordance with the Bidding Conditions.
Cashiers Check No. Issued by City National Bank
payable unconditionally to the City of Corpus Christi, in the amount of $70,000 (has been made
available to you prior to the opening of this bid) as a Good Faith Deposit for disposition in accordance with the Bidding
Conditions. Upon delivery of the bonds, said check shall be (deducted from the purchase price) or
Strike out Inapplicable phrases.
_First City National Bank of Houston - joint n a*+ager
Account Manager
Rotan- Mosle. Inc. - joint manager
Texas Bank and Trust Company of Dallas
B�V
A,,}hQ ized gepresentati e
C. Ivan 4Vi{son (as agent
rpus Christi Bank & Trust
Accepted by the City Council on this a day of April, 1976.
M qty of Corpus 6490, T
ATTEST:
s!J "� ry�
City Please supply the following information which Is not a part of this bid:
Total Interest Cost $ 2.018. 100.00
Less Cash Premium $ -0-
Net Interest Cost $ Z-018,100.00
Effective Rate of Interest 4._982963
Receipt Is acknowledged on behalf of bidder of above - described Good Faith Check This day of . 1976.
By
$3,800,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
ACCUMULATED
YEAR
AMOUNT
BOND YEARS
1977
$100,000
100
1978
100,000
300
1979
100,000
600
1980
100,000
1000
1981
100,000
150D
1982
200,000
2700
1983
200,000
4100
1984
200,000
5700
1985
200,000
7500
1986
200,000
9500
1987
200,000
11700
1988
200,0DO
14100
1989
200,000
16700
1990
200,000
19500
1991
200,000
22500
1992
200,000
25700
1993
200,000
29100
1994
200,000
32700
1995
200,000
36500
1996
200,000
40500
Average Maturity 11.6 years
OFFICIAL BID FORM
PROPOSAL FOR
$3,500,000 CRY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
The City Of Corpus Christi
Corpus Christi, Texas April 21, 1976
Gentlemen:
Subject to the terms of the Official Statement and Bidding Conditions we offer to pay par plus accrued Interest to
date of delivery and a cash premium of $ 0 for $3,500,000 City of Corpus Christi, Texas, General Im-
provement Bonds, Series 1976 bearing Interest at the following rates:
For Bonds Maturing Coupon Rate
1977 through 85 4.50 %
86 through 88 4.75 %
89 through 92 5.00 %
93 through 96 5.40 %
through %
We agree to accept delivery and make payment for the bonds without cost to us at Austin
National Bank, Austin, Texas; or at the
and in accordance with the Bidding Conditions.
Cashier's Check No. 116827 issued by r n y Natian_al Bank and Trust, Corpus Christi, Texas
payable unconditionally to the City of Corpus Christi, in the amount of $70,000 (is attached hereto) (has been made
available to you prior to the opening of this bid) as a Good Faith Deposit for disposition in accordance with the Bidding
Conditions. Upon delivery of the bonds, said check shall be (deducted from the purchase price) or (returned to us).
Strike out Inapplicable phrases.
Guaranty National Bank and Trust
Account Manager
Accepted by the City Council on this
ATTEST:
day of April, 1976.
By
Authorized Re resentative
Charles A. Mella, III, V.P.& Cash.
Guaranty National Bank and Trust
Mayor, City of Corpus Christi, Texas
City Secretary
Please supply the following information which is not a part of this bid:
Total Interest Cost $ 2.030.200
Less Cash Premium $ —0—
Net Interest Cost $ 2- 030,200
Effective Rate of Interest 5 _ ni 2R %
Receipt Is acknowledged on behalf of bidder of above - described Good Faith Check This day of —ar- 1976. 0
By
$3,600,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
Average Maturity 11.6 years
ACCUMULATED
YEAR
AMOUNT
BOND YEARS
1977
$100,000
100
1978
100,000
300
1979
100,000
600
1980
100,000
1000
1981
100,000
1500
1982
200,000
2700
1983
200,000
4100
1984
200,000
5700
1985
200,000
7500
1986
200,000
9500
1987
200,000
11700
1988
200,000
14100
1989
200,000
16700
1990
200,000
19500
1991
200,000
22500
1992
200,000
25700
1993
200,000
29100
1994
200,000
32700
1995
200,000
36500
1996
200,000
40500
Average Maturity 11.6 years
OFFICIAL BID FORM
PROPOSAL FOR
$3,600,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
The City Of Corpus Christi
Corpus Christi, Texas
Gentlemen:
April 21, 1976
Subject to the terms of the Official Statement and Bidding Conditions we offer to pay par plus accrued interest to
date of delivery and a cash premium of $ 111.00 for $3,500,000 City of Corpus Christi, Texas, General Im-
provement Bonds, Series 1976 bearing interest at the following rates:
For Bonds Maturing
Coupon Rafe
1977 through 1988
4.75 %
1989 _per
4.85 %
1990 through 1992
5.10 %
1993 through 1996
5.25 %
through
%
We agree to accept delivery and make payment for the bonds without cost to us at
Bank, Austin, Texas; or at the
and In accordance with the Bidding Conditions.
Cashier's Check No. CS073789 issued by First National Bank in Dallas, Dallas, Texas
payable unconditionally to the City of Corpus Christi, In the amount of $70,000 (is attached hereto)
as a Good Faith Deposit for disposition in accordance with the Bidding
Conditions. Upon dellvery of the bonds, said check shall be (deducted from the purchase price) or otam).
Strike out inapplicable phrases.
FIRST NATIONAL BANK IN DALLAS
Account Manager
Fort Worth National Bank
rainp., Webber., Jackson & C ,rti
E.F. Hutton & Co., Inc.
Accepted by the City Council on this day of April, 1976.
ATTEST:
City Secretary
Please supply the following information which is not a part of this bid:
Total Interest Cost $ 2,031-850
Less Cash Premium $ 111
Authorized Representan e`
Parks B. Pedrick, Jr., Vice President
First National Bank in Dallas
Mayor, City of Corpus Christi, Texas
Net Interest Cost $ _9 na1 -zq9
Effective Rate of Interest 5.0166 %
Receipt is acknowledged on behalf of bidder of above - described Good Faith Check This 2 t d 1976.
By of w
$3,600,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
Average Maturity 11.6 years
ACCUMULATED
YEAR
AMOUNT
BOND YEARS
1977
$100,000
100
1978
100,000
300
1979
100,000
600
1980
100,000
1000
1981
100,000
1500
1982
200,000
2700
1983
200,000
4100
1984
200,000
5700
1985
200,000
7500
1986
200,000
9500
1987
200,000
11700
1988
200,000
14100
1989
200,000
16700
1990
200,000
19500
1991
200,000
22500
1992
200,000
25700
1993
2WD00
29100
1994
200,000
32700
1995
200,000
36500
1996
200,000
40500
Average Maturity 11.6 years
OFFICIAL BID FORM
PROPOSAL FOR
$9,800,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
The City Of Corpus Christi
Corpus Christi, Texas
Gentlemen:
April 21, 1976
Subject to the terms of the Official Statement and Bidding Conditions we offer to pay par plus accrued Interest to
date of delivery and a cash premium of $ 33.00 for $3,500,000 City of Corpus Christi, Texas, General Im-
provement Bonds, Series 1976 bearing Interest at the following rates:
For Bonds Maturing Coupon Rate
1977 through 1984 6.00
1985 through -0- 5.60
1986 through 1992 5.00
1993 through 1994 5.30
1995 through 1996 4.00
We agree to accept delivery and make payment for the bonds without cost to us at The American National
Bank, Austin, Texas; or at the
and in accordance with the Bidding Conditions.
Cashiers Check No. M 29901 Issued by Harris Trust and Savings Bank. Chicago. L11inois
payable unconditionally to the City of Corpus Christi, in the amount of $70,000 (is attached hereto) (has been made
available to you prior to the opening of this bid) as a Good Faith Deposit for disposition in accordance with the Bidding
Conditions. Upon delivery of the bonds, said check shall be (deducted from the purchase price) or (returned to us).
Strike out inapplicable phrases.
Harris Trust and Savings Bank, Chicago
Account Manager
The Northern Trust Company
The First Boston Corporation
Blyth Eastman Dillon & Company, Inc.
Wauterlek & Brown, Inc.
First Pennco
Accepted by the City Council on this day of April, 1976.
ATTEST:
By: Harris Trust and Savings Bank
By
Authorized Representative
Assistant Vice President
City of Corpus Christi, Texas
City Secretary
Please supply the following information which Is not a part of this bid:
Total Interest Cost $ 2,035,800.00
Less Cash Premium $ 33.00
Net Interest Cost $ 2,035,767.00
Effective Rate of Interest 5.0266
Receipt Is acknowledged on behalf of bidder of above - described Good Faith Check This At d of y�t_ 1976.
By nn,
s3,608,088 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
Average Maturity 11.6 years
ACCUMULATED
YEAR
AMOUNT
BOND YEARS
1977
$100,000
100
1978
100,000
300
1979
100,000
600
1980
100,000
1000
_ 1981,
100,000
1500
1982
200,000
2700
1983
200,000
4100
1984
200,000
5700
1985
200,000
7500
1986
200,000
9500
1987
200,000
11700
1988 m
200,000
14100
1989
200,000
16700 _
1990
200,000
19500
1991
200,000.
22500
1992
200,000
25700
1993
200,000
29100
1994
200,000
32700
1995
200,000
36500
1996
200,000
40500
Average Maturity 11.6 years
OFFICIAL BID FORM
PROPOSAL FOR
$3,500,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
The City Of Corpus Christi
Corpus Christi, Texas April 21, 1976
Gentlemen:
Subject to the terms of the Officia t l Stateme and BI din Conditions we offer to pay par plus accrued Interest to
date of delivery and a cash premium of $ v for $3,500,000 City of Corpus Christi, Texas, General Im-
provement Bonds, Series 1976 bearing interest at the following rates:
For Bonds Maturing Cou inotate
1977 through 8 � G '3/ b /,
through t� r '1--' 0.0 %
through S + s o %
through .8/ 7� 9?
through J'' e O %,
We agree to accept delivery and make payment for the bonds without cost to us at City National
Bank of Austin Bank, Austin, Texas; or at the
and in accordance with the Bidding Conditions.
Cashier's Check No. Issued by City National Bank of Austin, Austin, Texas
payable unconditionally to the City of Corpus Christi, in the amount of $70,000 { (has been made
available to you prior to the opening of this bid) as a Good Faith Deposit for disposition In accordance with the Bidding
Conditions. Upon delivery of the bonds, said check shall be (deducted from the purchase price)-er-ed=1;s;-00.
Strike out Inapplicable phrases.
JOHN NUVEEN & CO., INC. )
Account Monager oin
RAUSCHER PIERCE SECURITIES CORPORATION )Managers
ROWLES, WINSTON DIV., COWEN & CO.
UNDERWOOD, NEUHAUS b CO., INC. )
Accepted by the City Council on this
ATTEST:
day of April, 1976.
FIRST SOUTHWEST COMPANY
KIRCHNER, MOORE 6 COMPANY
RUSS SECURITIES CORPORATION
By
Authorized Representative
Mayor, City of Corpus Christi, Texas
City Secretary
Please supply the following Information
which is not a rt f this bid:
Total Interest Cost
$ Z/ O r ' 6 7-j-
Less Cash Premium
$ 9747
Net Interest Cost
$ �+ 9XZ7
Effective Rate of Interest
%
Receipt Is acknowledged on behalf of bidder of above - described Good Faith Check This
By
day of — 1976.
r
$3,SW,CW CRY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
Average Maturity 11.6 years
ACCUMULATED
YEAR
AMOUNT
BOND YEARS
1977
$100,000
100
1978
100,000
300
1979
100,000
600
1980
100,000
1000
1981
100,000
1500
1982
200,000
2700
1983
200,000
4100
1984
200,000
5700
1985
200,000
7500
1986
200,000
9500
1987
200,000
11700
1988
200,000
14100
1989
200,000
16700
1990
200,000
19500
1991
200,000
22500
1992
200,000
25700
1993
200,000
29100
1994
200,000
32700
1995
200,000
36500
1996
200,000
40500
Average Maturity 11.6 years
L. I r
OFFICIAL BID FORM
PROPOSAL FOR
$3,110000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
The City Of Corpus Christi
Corpus Christi, Texas
Gentlemen:
April 21, 1976
Subject to the terms of the Official Statement and Bidding Conditions we offer to pay par plus accrued interest to
date of delivery and a cash premium of $ SA 5.00 for $3,500,000 City of Corpus Christi, Texas, General Im-
provement Bonds, Series 1976 bearing Interest at the following rates:
For Bonds Maturing Coupon Rate
1977 through iwa°>_ &' c'
q ff 3 through I ct9 t S. u %
x1421 through a %
11913 through Il °t S 5, 2 s %
I"i 91, through 14.0 %
We agree to accept delivery and make payment for the bonds without cost to us at
City National Bank, Austin, Texas; or at the
and In accordance with the Bidding Conditions.
Cashier's Check No. Issued by City National Bank, Austin, Texas
payable unconditionally to the City of Corpus Christi, in the amount of $70,000 �herelo) (has been made
available to you prior to the opening of this bid) as a Good Faith Deposit for disposition in accordance with the Bidding
Conditions. Upon delivery of the bonds, said check shall be (deducted from the purchase price) or {�eternedaa}s
Strike out inapplicable phrases.
ublic National Bank of Dallas Dallas, Texas
Account Manager
and Associates
(See attached list of account members)
Accepted by the City Council on this day of April, 1976.
ATTEST:
By
Authorized Rap ?'entative
nneth K. Lindgren
Vice President
Mayor, City of Corpus Christi, Texas
City Secretary
Please supply the following Information which is not a part of this bid:
Total Interest Cost $ AiD45-`fOO,01)
Less Cash Premium $ Ta5.0 D
Net Interest Cost $ X o 4,4 r 87 5, u o
Effective Rate of Interest S 04Q o %
Receipt Is acknowledged on behalf of bidder of above - described Good Faith Check This
day of - 1976.
By
.a
$3,500,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
Average Maturity 11.6 years
ACCUMULATED
YEAR
AMOUNT
BOND YEARS
1977
$100,000
100
1978
100,000
300
1979
100,0DO
600
1980
100,000
1000
1981
100,000
1500
1982
200,000
2700
1983
200,000
4100
1984
200,000
5700
1985
200,000
7500
1986
200,000
9500
1987
200,000
11700
1988
200,000
14100
1989
200,000
16700
1990
200,000
19500
1991
200,000
22500
1992
200,000
25700
1993
200,000
29100
1994
200,000
32700
1995
200,000
36500
1996
200,000
40500
Average Maturity 11.6 years
OFFICIAL BID FORM
PROPOSAL FOR
$3,500,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
The City Of Corpus Christi
Corpus Christi, Texas April 21, 1976
Gentlemen:
Subject to the terms of the Official Statement and Bidding Conditions we offer to pay par plus accrued interest to
date of delivery and a cash premium of $ None for $3,500,000 City of Corpus Christi, Texas, General Im-
provement Bonds, Series 1976 bearing interest at the following rates:
For Bonds Maturing Coupon Rate
1977 through 1982 tiSn %
1983 through 1988 4.90
1989 through 1990 5.00
1991 through 1994 5.25
1995 through 1996 4.50
We agree to accept delivery and make payment for the bonds without cost to us at American Natfrmal
Bank, Austin, Texas; or at the
and in accordance with the Bidding Conditions.
Cashiers Check No. issued by Ae. ri can National Bank, Austin
payable unconditionally to the City of Corpus Christi, in the amount of $70,000 ( (has been made
available to you prior to the opening of this bid) as a Good Faith Deposit for disposition in accordance with the Bidding
Conditions. Upon delivery of the bonds, said check shall be (deducted from the purchase price) or
Strike out Inapplicable phrases.
Weeden & Ca=aiw, 711c., Hamt-rm, TExas
Account Manager
Bank of the Southwest, Houston
Allied Bank of Texas, Houston
Accepted by the City Council on this day of April, 1976.
ATTEST:
By r, - Ro<
Rg{3(esentativ�
W. G. Hogue `7- t W
Mayor, City of Corpus Christi, Texas
City Secretary
Please supply the following information which is not a part of this bid:
Total Interest Cost $ 2,048,099.98
Less Cash Premium $ —0
Net Interest Cost $ 2,048,099.98
Effective Rate of Interest 5.05704 %
Receipt is acknowledged on behalf of bidder of above - described Good Faith Check This day of , 1976.
$3,508,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
Average Maturity 11.6 years
ACCUMULATED
YEAR
AMOUNT
BOND YEARS
1977
$100,000
100
1978
100,000
300
1979
100,000
600
1980
100,000
1000
1981
100,000
1500
1982
200,000
2700
1983
200,000
4100
1984
200,000
5700
1985
200,000
7500
1986
200,000
9500
1987
200,000
11700
1988
200,000
14100
1989
200,000
16700
1990
200,000
19500
1991
200,000
22500
1992
200,000
25700
1993
200,000
29100
1994
200,000
32700
1995
200,000
36500
1996
200,000
40500
Average Maturity 11.6 years
OFFICIAL BID FORM
PROPOSAL FOR
$3,600,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
The City Of Corpus Christi
Corpus Christi, Texas
Gentlemen:
April 21, 1976
Subject to the terms of the Official Stcopm 0 and Bidding Conditions we offer to pay par plus accrued Interest to
date of delivery and a cash premium of $ for $3,500,000 City of Corpus Christi, Texas, General Im-
provement Bonds, Series 1976 bearing Interest at the following rates:
For Bonds Maturing
Coupon Rate
1977 through 1983
6.00
1984 through 1987
4.90
1988 through 1991
5.00
1992 through 1995
5.25
1996 through —0—
4.00
We agree to accept delivery and make payment for the bonds without cost to us at
Bank, Austin, Texas; or at the
and in accordance with the Bidding Conditions.
Cashiers Check NoBDM020382 issued by CITIBANK, N.A.
payable unconditionally to the City of Corpus Christi, In the amount of $70,000 (Is attached hereto) (has- bean mede
atwllchlesa
Va. Lprlucla- - opening_oLthlsbiid) as a Good Faith Deposit for disposition in accordance with the Bidding
Conditions. Upon delivery of the bonds, said check shall be (deducted from the purchase price) or (retained ioos).
Strike out indpplicable phrases.
CITIBANK, N.A.
Account Manager
BANKERS TRUST COMPANY
FIRST NATIONAL BANK OF CHICAGO
W. H. MORTON & CO.(DIV.OF AMER.EXP.CO.)
REYNOLDS SECURITIES, INC.
BANCNORTHWEST
Accepted by the City Council on this day of April, 1976.
ATTEST:
By 1 n 'Dl
�C
Authorized Re r se Ji M.
Margaret MCAulines, A
Mayor, City of Corpus Christi, Texas
City Secretary
Please supply the following information which is not a part of this bid:
Total Interest Cost $ 2,053,400.00
Less Cash Premium $ 400.00
Net Interest Cost $ 2,053,000.00
Effective Rate of Interest 5.0691
Receipt is acknowledged on behalf of bidder of above - described Good Faith Check This Z1 d f 0-4k 1976.
By Y Ac.+�
$3,688,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
Average Maturity 11.6 years
ACCUMULATED
YEAR
AMOUNT
BOND YEARS
1977
$100,000
100
1978
100,000
300
1979
100,000
600
1980
100,000
1000
1981
100,000
1500
1982
200,000
2700
1983
200,000
4100
1984
200,000
5700
1985
200,000
7500
1986
200,000
9500
1987
200,000
11700
1988
200,000
14100
1989
200,000
16700
1990
200,000
19500
1991
200,000
22500
1992
200,000
25700
1993
200,000
29100
1994
200,000
32700
1995
200,000
36500
1996
200,000
40500
Average Maturity 11.6 years
OFFICIAL BID FORM
PROPOSAL FOR
$3,500,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
The City Of Corpus Christi
Corpus Christi, Texas April 21, 1976
Gentlemen:
Subject to the terms of the Official Statement and Bidding Conditions we offer to pay par plus accrued Interest to
date of delivery and a cash premium of $ `1 for $3,500,000 City of Corpus Christi, Texas, General Im-
provement Bonds, Series 1976 bearing Interest at the following rates:
For Bonds Maturing
19,77 through $
�C upon Rafe
7J
P through 9 ��
5'-'V'0
J through gam/
x %
through I C' 7
`r✓
through
d
We agree to accept delivery and make payment for the bonds without cost to us at
America .rational
Bank, Austin, Texas; or at the
and in accordance
with the Bidding Conditions.
Cashier's Check No. issued by American lational Bank, Austin, Texas
payable unconditionally to the City of Corpus Christi, In the amount of $70,000
(has been made
available to you prior to the opening of this bid) as a Good Faith Deposit for dis osition in accordance with the Bidding
Conditions. Upon delivery of the bonds, said check shall be he
a) or (returned to us).
Strike out inapplicable phrases.
=711 LYTCIT P ERCE, =TITER & S11171, I-TC.
Account Manager
and ASSOCIATES
Accepted by the City Council on this day of April, 1976.
ATTEST:
By
Autifirized Representative
eaty eck
Merrill Lynch & Co, Inc.
Mayor, City of Corpus Christi, Texas
City Secretary
Please supply the following information
which Is not a part of this bid:
Total Interest Cost
$ 2, -ate �O OD
Less Cash Premium
Net Interest Cost
$ —�
$ 2, Oc!-' , Y:0, 2J
Effective Rate of Interest
`r
Receipt is acknowledged an behalf of bidder of above - described Good Faith Check This
By
day of 1976.
x3,600.000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
Average Maturity 11.6 years
ACCUMULATED
YEAR
AMOUNT
BOND YEARS
1977
$100,000
100
1978
100,000
300
1979
100,000
600
1980
100,000
1000
1981
100,000
1500
1982
200,000
2700
1983
200,000
4100
1984
200,000
5700
1985
200,000
7500
1986
200,000
9500
1987
200,000
11700
1988
200,000
14100
1989
200,000
16700
1990
200,000
19500
1991
200,000
22500
1992
200,000
25700
1993
200,000
29100
1994
200,000
32700
1995
200,000
36500
1996
200,000
40500
Average Maturity 11.6 years
OFFICIAL BID FORM
PROPOSAL FOR
$3,500,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
The City Of Corpus Christi
Corpus Christi, Texas April 21, 1976
Gentlemen:
Subject to the terms of the Official Statement and Bidding Conditions we offer to pay par plus accrued Interest to
date of delivery and a cash premium of $ X0.51- for $3,500,000 City of Corpus Christi, Texas, General Im-
provement Bonds, Series 1976 bearing interest at the following rates:
For Bonds Maturing Coupon Rate
1977 through 1.982 4.25 %
1983 through 1984 4.50 %
1985 through 1991 5.25 %
1992 through 1996 5.50 %
through %
We agree to accept delivery and make payment for the bonds without cost to us at Am rican National
Bank, Austin, Texas; or at the
, and in accordance with the Bidding Conditions.
Cashiers Check No. 75513 issued by Corpus Christi National Bank
payable unconditionally to the City of Corpus Christi, in the amount of $70,000 (is attached hereto) ohmobaboaaWle
as a Good Faith Deposit for disposition in accordance with the Bidding
Conditions. Upon delivery of the bonds, said check shall be (deducted from the purchase price) or
Strike out inapplicable phrases.
Corpus Christi National Bank. C pus Christi, Texas
Account Manager
By
A thorized Representative
Jerry W. Gates
Accepted by the City Council on this day of April, 1976.
Mayor, City of Corpus Christi, Texas
ATTEST:
City Secretary
Please supply the following information which is not a part of this bid:
Total Interest Cost $ 2,12.1_,750.00
Less Cash Premium $ 9,670.50
Net Interest Cost $ 2.L12,079.50
Effective Rate of Interest 5.21501
Receipt is acknowledged on behalf of bidder of above - described Good Faith Check This 21 day f 1976.
By
$3.5011,004) CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1976
Average Maturlty 11.6 years
ACCUMULATED
YEAR
AMOUNT
BOND YEARS
1977
$100,000
100
1978
100,000
300
1979
100,000
600
1980
100,000
1000
1981
100,000
1500
1982
200,000
2700
1983
200,000
4100
1984
200,000
5700
1985
200,000
7500
1986
200,000
9500
1987
200,000
11700
1988
200,000
14100
1989
200,000
16700
1990
200,000
19500
1991
200,000
22500
1992
200,000
25700
1993
200,000
29100
1994
200,000
32700
1995
200,000
36500
1996
200,000
40500
Average Maturlty 11.6 years