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HomeMy WebLinkAbout13833 ORD - 07/13/1977jkh:7 -13 -77 -1st TEXAS: AN ORDINANCE n AMENDING ORDINANCE NO. 13159, PASSED AND APPROVED BY THE CITY COUNCIL ON MAY 5, 1976, PERTAINING TO THE ESCROW AGREMENT WITH THE UNITED STATES OF AMERICA AND CORPUS CHRISTI BANK AND TRUST, BY AMENDING THE.TOTAL AMOUNT TO BE PLACED IN THE ESCROW ACCOUNT FROM THE SUM OF $1,489,000 TO $1,689,000, SAID ADDITIONAL SUMS BEING NECESSARY TO.COVER INCREASED CONSTRUCTION COSTS; APPROPRIATING FOR PLACEMENT INTO THE ESCROW FUND ACCOUNT $200,000, OF WHICH APPROPRIATION $100,860 IS TO COME FROM INTEREST EARNED OR ANTICIPATED TO BE EARNED DURING THE DURATION OF THE CONSTRUCTION CONTRACT FROM THE ESCROW ACCOUNT APPLICABLE TO PROJECT NO. 291 -72 -11.1, CORPUS CHRISTI BEACH RESTORATION, AND $99,140 IS TO BE OUT OF THE NO. 126 GENERAL REVENUE SHARING FUND; AND DECLARING AN EMERGENCY. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, SECTION 1. That Ordinance No. 13159, passed and approved by the City Council on May 5, 1976, pertaining to the Escrow Agreement with the United States of America and Corpus Christi Bank and Trust, be and the same is hereby amended by amending the total amount to be placed in the Escrow Account From $1,489,000 to $1,689,000, said additional sums being necessary to cover increased construction costs of Corpus Christi Beach Restora- tion. SECTION 2. -That there is hereby appropriated for placement into the Escrow Fund Account the sum of $200,000, of which appropriation $100,860 is to come from interest earned or anticipated to be earned during the duration of the construction contract from the Escrow Account applicable to Project No. 291 -72 -11.1, Corpus Christi Beach Restoration, and $99,140 is to be appropriated from the No. 126 General Revenue Sharing Fund. SECTION 3. The necessity to amend the ordinance providing for Escrow Agreement and appropriation of certain sums,to provide for restoration of Corpus Christi Beach, so as to place additional funds necessary to cover increased construction costs creates a public emergency and an impera- tive 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, having requested the suspension of the MICROFILMED 23833 JUL 0 7 1980 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 4; �day of ' July, 1977. ATTEST: City Secretary ORp�p.7em THE CITY OF CORPUS CHRISTI, TEXAS APPROVED: _ /!�;, DAY OF JULY, 1977: J. BRUCE AYCOCK, CITY ATTORNEY By Assistant Ci D ttorney CITY OF CORPUS CHRISTI, TEXAS CERTIFICATION OF FUNDS (City Charter Article IV Section 21) July 11, 1977 I certify to the City Council that $ 100,860 , 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 291 Park Bond Fund Project No. 291 -72 -11.1 Project Name Corpus Christi Beach Restoration from which it is proposed to be drawn, and such money is not appropriated for any other purpose. $93,152 Interest earned as of May 31 7,708 Interest anticipated for June & July $100,860 This amount represents interest earned on the Escrow Account with Corpus Christi Bank & Trust for C.C. Beach Restoration Project. tv1� FIN 2 -55 Revised 7/31/69 CITY OF CORPUS CHRISTI, TEXAS CERTIFICATION OF FUNDS (City Charter Article IV Section 21) July 11, 1977 I certify to the City Council that $ 99,140 , 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 120 Revenue Sharing Fund Project No. 120 -1984 Project Name Unappropriated Balance from which it is proposed to be drawn, and such money is not appropriated for any other purpose. To be used to supplement interest earned on Escrow Account with Corpus Christi Bank & Trust on C.C. Beach Restoration Project in order to increase the Escrow 3 19 Account to cover additional costs resulting from actual bids received by the Corps of Engineers on the sand cover contract. Director of finance 'X FINN 2 -55 Revised 7/31/69 Corpus Christi, xas /3 day of , 19 7 7 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 suspension 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 ordinance finally on the date it is introduced, or at the present meeting of the City Council. Respectfully, Pro•_em THE CITY OF CORPUS CHRISTI, TEXAS The Charter rule was suspended by tt1lowing lowing te: Jason Luby Eduardo de Ases David Diaz Ruth Gill Bob Gulley Gabe Lozano, Sr. Edward L. Sample The above ordinance was passed by ttowingvo te: Jason Luby Eduardo de Ases David Diaz Ruth Gill Bob Gulley Gabe Lozano, Sr. Edward L. Sample w 123833