HomeMy WebLinkAbout15233 ORD - 11/21/1979THE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI .
On this the- ?1st day of November, 1979, the City
Council of the City of Corpus Christi, Texas convened in
Regular Meeting, with the following members of said Council
present, to -wit:
Luther Jones,
Edward L. Sample,
Dr. Jack Best,
David Diaz,
Jack K. Dumphy,
Betty N. Turner,
Cliff Zarsky,
R. Marvin Townsend,
J. Bruce Aycock,
Harold F. Zick,
Bill G. Read,
with the following absent:
Mayor,
Mayor Pro -Tem,
Councilmen,
City Manager,
City Attorney,
Director of Finance,
City Secretary,
None
constituting a quorum, at which time the following among
other business was transacted:
Mr. Townsend 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 ordi-
nance, as follows:
"Corpus Christi, Texas
November 21 , 1979 '
"TO THE CITY COUNCIL
Corpus Christi, Texas
Gentlemen:
"The public importance and pressing need for the
permanent improvements to be constructed by use of the
proceeds of bonds contemplated to be issued pursuant to
an ordinance create an emergency and an imperative public
necessity requirina the suspension of rules and Charter
provisions requiring ordinances to be considered anca voted
upon at three regular meetings. I, therefore, request
that the City Council pass the proposed ordinance author-
izing 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 the subject.
"Yours very truly,
/s/ Luther Jones
Mayor"
MICROFILMED
AUG 281980
}
Councilman
Diaz
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 emer-
gency clause of the ordinance. The motion was seconded by
Councilman Turner The motion was carried by an
unanimous vote by the City Council, viz.:
AYES: All present voted Aye.
NAYS: None.
The Mayor requested that the records show that he
voted Aye. This was done.
Councilman
Diaz
moved that the ordinance
be passed finally. The motion was seconded by Councilman
Turner
vote:
. The motion was carried by the following
AYES: All present voted Aye.
NAYS: None.
The Mayor requested that the records show that he
voted Aye. This was done.
The Mayor announced that the ordinance had been passed.
The ordinance is as follows:
ORDINANCE NO. //,...f.5..5.3R
BY THE CITY COUNCIL OF THE CITY OF CORPUS
CHRISTI, TEXAS, PROVIDING FOR THE ISSUANCE
OF $7,375,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS, SERIES 1979,
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 bonds authorized at an election
heretofore held in said City be sold at this time, the
date of the election, amounts of bonds authorized thereat,
purposes, and the amount now to be sold being as follows:
DATE OF AMOUNT PURPOSE AMOUNT PRE- AMT.NOW
ELECTION AUTHORIZED PURPOSE VIOUSLY SOLD OFFERED
11-8-77 $11,710,000 Sanitary Sewers $ 5,280,000
11-8-77 825,000 Airport 525,000
11-8-77 100,000 Transit 25,000
11-8-77 4,310,000 Parks and Recrea. 1,150,000
11-8-77 1,690,000 Public Buildings 450,000
11-8-77 915,000 Public Safety Bidgs. 150,000
11-8-77 3,000,000 Storm Sewer 385,000
11-8-77 9,425,000 Streets 1,635,000
$2,630,000
300,000
75,000
725,000
120,000
185,000
1,400,000
1,940,000
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 proceeds 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 1979" are hereby authorized to be issued and delivered
in accordance with the Constitution and the laws of the State
of Texas in the principal amount of $7,375,000 for the pur-
pose of providing $2,630,000 for constructing improvements
to the Sanitary Sewer System, including improvements to
Broadway, Westside, Oso, Laguna Madre, and Allison Plants;
rehabilitation of McArdle trunk lines; replacement of Port
Avenue trunk lines; extension of Five Points area trunk
lines; extension of laterals in Flour Bluff, Calallen and
Annaville areas, and other Sanitary Sewer improvements;
$300,000 for constructing airport improvements at the City's
International Airport, including expansion of terminal
building, parking and access facilities, aircraft parking
ramps, and other airport improvements; $725,000 for improv-
ing lands for park purposes and recreation facilities,
including Cole Park, Corpus Christi Beach and Bayfront Parks,
various neighborhood parks; marina improvements; parks
maintenance facilities; tennis courts and lighting; Kennedy
Causeway facilities; softball fields, and other park im-
provements; $120,000 for public buildings, coliseum and
museum improvements, multicultural center in existing Bay-
front Arts and Science Park, and library in northwest area
of City, for cultural enhancement; $75,000 for buying buses
to operate the City's public bus transportation system, con-
structing bus-stop shelters and improving maintenance and
administrative facilities for said system; $1,400,000 for
constructing drainage improvements, including extension of
storm sewers in Lincoln Terrace, Cabaniss Acres, Flour
Bluff and Annaville areas and other storm sewer improve-
ments; $1,940,000 for improving the streets of the
City, including various neighborhood streets, Port Avenue
2
from Agnes to Buford and SH 286 to Ayers; Carroll Lane
from Staples to Gollihar and Padre Island Drive to Tiger
Lane; Everhart Road from Padre Island Drive to Staples;
Horne Road, from Columbia to Old Brownsville Road; Nueces
Bay Boulevard from IH 37 to Broadway; Airport Road from
Morgan to Agnes; McArdle Road from Ayers to Carroll Lane;
Saratoga from Staples to Weber; Baldwin Boulevard from
Highway 44 to Highway 9, and other street improvements; and
$185,000 for police and fire department buildings, animal
shelter improvements and related permanent improvements.
2. That said bonds shall be dated November 15, 1979,
shall be numbered consecutively from 1 through 1475, shall
be in the denomination of $5,000 each, and shall mature and
become due and payable serially on November 15 in each of
the years, and in the amounts, respectively, as set forth
in the following schedule:
YEARS AMOUNTS YEARS AMOUNTS
1980 $ 200,000
1981 200,000
1982 200,000
1983 250,000
1984 450,000
1985 450,000
1986 425,000
1987 400,000
1988 400,000
1989 400,000
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
$ 400,000
400,000
400,000
400,000
400,000
400,000
400,000
400,000
400,000
400,000
3. That as to said bonds scheduled to mature on
and after November 15, 1990, 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 November 15, 1989, or on any interest
payment date thereafter, for the principal amount thereof
plus a premium of 2-1/2%, such premium to be reduced 1/4
of 1% on November 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 finan-
cial publication printed in the City of New York, New
3
York. By the date fixed for any such redemption, due provisior
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 redemp-
tion 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.
4. That said bonds shall bear interest from their
date, until maturity or redemption, at the following rates
per annum:
Bonds maturing 1980 through 1988 7.50 %
Bonds maturing 1989 through - 7.125 %
Bonds maturing 1990 through - 6.20 %
Bonds maturing 1991 through - 6.25 %
Bonds maturing 1992 through - 6.30 %
Bonds maturing 1993 through - 6.35 %
Bonds maturing 1994 through 6.40 %
Bonds maturing 1995 through - 6.50 %
Bonds maturing 1996 through 6.60 %
Bonds maturing 1997 through - 6.70 %
Bonds maturing 1998 through 1999 5.50 %
Bonds maturing - through
with said interest to be evidenced by interest coupons
payable on May 15, 1980, and semiannually thereafter on each
November 15 and May 15.
5. That the principal of and interest on said bonds
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 or proper bond
or interest coupon at Corpus Christi National Bank, Corpus
Christi, Texas, or at the option of the holder, at The Chase
Manhattan Bank, N. A., New York, New York, or at Harris
4
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 signa-
ture 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 1979
On November 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 May 15, 1980, and semiannually thereafter on each
November 15 and May 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
National Bank, 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.
5
0
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 1475, of the
denomination of $5,000 each, dated November 15, 1979, issued
in the aggregate principal amount of $7,375,000 for the
purpose of providing $2,630,000 for constructing improve-
ments to the Sanitary Sewer System, $300,000 for construct-
ing airport improvements at the City's International Airport,
$725,000 for improving lands for park purposes and recrea-
tion facilities, $120,000 for public buildings, $75,000 for
purchasing buses and other transportation improvements,
$1,400,000 for constructing drainage improvements, $1,940,000
for improving the streets of the City, and $185,000 for
police and fire department buildings, animal shelter improve-
ments and related permanent improvements.
The bonds of this Series scheduled to mature on and
after November 15, 1990 may be redeemed prior to their
scheduled maturities, in whole, or in part in inverse numer-
ical order, at the option of said City, on November 15,
1989, 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 2-1/2%, such premium
to be reduced 1/4 of 1% on November 15 of each year there-
after. 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
publication 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 prin-
cipal 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 re-
demption 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
6
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 de-
livered 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
attached hereto have been signed by the imprinted or litho-
graphed 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 offi-
cial seal of said City has been duly impressed, or printed,
or lithographed on this bond.
xxxxxxx xxxxxxx
City Secretary, City of Corpus Mayor, City of Corpus
Christi, Texas Christi, 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 Gen-
eral 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
Comptroller of Public Accounts of
the State of Texas
7
NO.
(FORM OF INTEREST COUPON)
On 15, 19 , the City of Corpus Christi, in
the County of Nueces, State of Texas, promises to pay to
bearer the amount shown on this interest coupon, in lawful
money of the United States of America, without exchange or
collection charges to the bearer, unless due provision has
been made for the redemption prior_to scheduled maturity of
the bond to which this interest coupon appertains, upon
presentation and surrender of this interest coupon, at the
Corpus Christi National Bank, 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 Improve-
ment Bonds, Series'1979, dated November 15, 1979. Bond
No.
XXXXXXX XXXXXXX
City Secretary Mayor
8. That a special fund or account, to be designated
the "City of Corpus Christi, Texas General Improvement
Bonds, Series 1979 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 apper-
taining thereto are outstanding and unpaid, the City
Council of said City shall compute and ascertain the rate
and amount of ad valorem tax, based on the latest ap-
proved tax rolls of said City, with full allowances being
made for tax delinquencies and costs of tax collections,
8.
which will be sufficient to raise and produce the money
required to pay the interest on said bonds as such inter-
est 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 Inter-
est 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 National Bank in Dallas, Dallas, Texas
and Associates
, at a price of par and
accrued interest to date of delivery, plus a premium of
$422.50
(b) That the City Manager of said City is hereby
authorized to have control of said bonds and all necessary
records and proceedings 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.
9
10. It is hereby officially found and determined that
the meeting at which said bonds were authorized was open to
the public, and public notice of the time, place and pur-
pose of said meeting was given, all as required by Vernon's
Ann. Civ. St. Article 6252-17, as amended.
11. That for the interest scheduled to come due on
the bonds herein authorized on May 15, 1980 there is hereby
appropriated from City funds lawfully available for such
purpose a sufficient amount of money to pay said interest.
12. 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 bohds
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(c) 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(c) 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(c),
or any regulations or rulings pertaining thereto.
13. 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 requir-
ing 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
10
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.
14. That all ordinances and resolutions or parts
thereof in conflict herewith are hereby repealed.
PASSED AND APPROVED this the 21st day of November,
1979.
Mayo
Tex1as
ATTEST:
City'Secretary,itC y of C rpus
Christi, Texas
of Corpus Christi,
The foregoing ordinance was approved prior to passage
as to form and correctness this the ,qday of November,
1979.
11
THE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI .
I, the undersigned, City Secretary of the City of
Corpus Christi, Texas, do hereby certify that the above
and foregoing is a true, full and correct copy of an
ordinance passed by the City Council of the City of
Corpus Christi, Texas (and of the minutes pertaining
thereto) on the 21st day of November, 1979, authorizing
the issuance of $7,375,000 of City of Corpus Christi,
Texas General Improvement Bonds, Series 1979, which
ordinance is duly of record in the minutes of said City
Council and said meeting was open to the public, and
public notice of the time, place and purpose of said
meeting was given, all as required by Vernon's Ann. Civ.
St. Article 6252-17, as amended.
EXECUTED UNDER MY HAND AND SEAL of said City, this
the/day of November, 1979.
tlty Secretary, lty o Corpus
Christi, Texas
(SEAL)
Corpus Christi, exas
2/ day of
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,
MAYOR/
/THE CITI,./4 CORPUS CHRISTI, TEXAS
The Charter rule was suspended by the following vote:
Luther Jones
Edward L. Sample
Dr. Jack Best
David Diaz
Jack K. Dumphy
Betty N. Turner
Cliff Zarsky
The above ordinance was passed
Luther Jones
Edward L. Sample
Dr. Jack Best
David Diaz
Jack K. Dumphy
Betty N. Turner
Cliff Zarsky
by the
following vote:
15233
GENERAL CERTIFICATE
THF 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 November 8, 1978, the
date of the passage of the ordinance authorizing the issuance
of the most recently dated, issued and outstanding tax obli-
gations of said City.
2. That no litigation of any nature has ever been
filed pertaining to, affecting or contesting: (a) the issu-
ance, delivery, payment, security' or validity of the proposed
City of Corpus Christi, Texas Genera3 Improvement Bonds,
Series 1979, dated November 15, 1979, in the aggregate prin-
cipal amount of $7,375,000; (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 exist-
ence, 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 1979 ad valorem
tax rolls as shown below, no litjgation 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 28th day of September, 1977, the date
the City Council called the election authorizing the issuance
of said Bonds, and on the 9th day of November, 1977, the date
the City Council canvassed the returns of said election, the
following persons were the duly elected or appointed and
qualified officials of said City:
Jason Luby,
Eduardo De Ases,
David Diaz
Ruth Gill
Bob Gully
Gabe Lozano, Sr.
Edward L. Sample
R. Marvin Townsend,
J. Bruce Aycock,
Harold F. Zick,
Bill G. Read,
Alton T. White, Jr.,
Mayor
Mayor Pro -Tem
Councilmen
City Manager
City Attorney
Director of Finance
City Secretary
Tax Assessor -Collector
•
4. That on the 21st day of November, 1979, the date an
ordinance was passed authorizing the issuance of City of
Corpus Christi, Texas General Improvement Bonds, Series 1979,
and at the present time, the following persons were and are
the duly elected or appointed and qualified officials of said
City:
Luther Jones,
Edward L. Sample,
Dr. Jack Best,
David Diaz,
Jack K. Dumphy,
Betty N. Turner,
Cliff Zarsky,
R. Marvin Townsend,
J. Bruce Aycock,
Harold F. Zick,
Bill G. Read,
George H. Moff,
Mayor,
Mayor Pro -Tem
Councilmen
City Manager,
City Attorney,
Director of Finance,
City Secretary,
Tax Assessor -Collector
5. That the currently effective ad valorem Tax Rolls of
said City are those for the year 1979, being the most recently
approved Tax Rolls of said City; that the City Council 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 taxa-
ble 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 Eaualization has finally approved the same; and
that the valuation of taxable property in said City, and the
aggregate amount of exemptions, and the net effective taxable
value of taxable property in said City, according to the afore-
said Tax Rolls for said year, as delivered to the City Secretary
of said City, and finally approved and recorded by the City
Council of said City, are as follows:
Assessed Value:
Exemptions:
Taxable Values:
$ 2,843,997,358
$ 112,383,270
$2,731,614,088
SIGNED AND SEALED this the 21st day of No mber, 1979. _
City' Secretary
City of Corpus
(SEAL)
APPROVED AS TO FORM AND CORRECTNESS this
, 1979.
(M3'ypir
Christi, Texas Ciof Cus
Christi, Texas
Director of Fin- e
City of Corpus risti, Texas
ity Attorney
City of Corpus hristi, Texas
day of
FF.;
CERTIFICATE CONCERNING OFFICIAL STATEMENT
THE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI .
On behalf. of'the City of Corpus Christi, Texas (the
"City") we the duly appointed and acting City Manager and
Director of Finance of the City do hereby certify that the
Official Statement prepared for use in connection with the
offering and sale of City of Corpus Christi, Texas General
Improvement Bonds, Series 1979 and City of Corpus Christi,
Texas Tax and Revenue Certificates of Obligation, Series
1979 has been authorized and approved by the City Council of
the City, and to the best of our knowledge and belief and
after reasonable investigation:
(a) Neither the "Official Statement" nor any amendment
or supplement thereto contains any untrue statement of a
material fact necessary to make the statements therein in
light of the circumstances in which they were made, not mis-
leading;
(b) Since the date of the "OfficiaJ Statement" no
event has occurred which would have been set forth in an
amendment or supplement to the "Official Statement" which--
has
hichhas not been set forth in sue- amendment or supplement; and
(c) There has been no material adverse change in the
operation or financia] affairs of the City since the date
of such "Official Statement".
DATED the day of November, 1979.
j(SEAL)
ATTEST:
City__ ecre ary, City of
Corpus Christi, Texas
City M'4nager, City of
Corpus Christi, Texas
Dire tor of Finance
Corpus Christi, Tex
City National Bank of Austin
Austin, Texas
Gentlemen:
CITY OF CORPUS CHRIST?, TEXAS GENERAL IMPROVEMENT
BONDS, SERIES 1979, $7,375,000 -
The ISSUER and the PURCHASERS of the captioned Series
of Bonds have designated your bank as the place, and as their
agent, for the delivery and payment of the Bonds. Upon no-
tice of their registration, you are hereby authorized and di-
rected to pick up the Bonds at the Bond Division of the Office
of the Comptroller of Public Accounts, and to hold the Bonds
for safekeeping pending said delivery and payment.
When you receive the Bonds, please send Bond Number One
of said Series to McCall, Parkhurst & Horton, Attorneys at
Law, Dallas, Texas, for examination and return to you. Upon
your receipt of the final unqualified approving legal opinion
of said Attorneys as to the validity of the Bonds, you are au-
thorized and directed to deliver the Bonds to the PURCHASERS
thereof, to -wit:
First National Bank in Dallas,
Dallas, Texas and Associates,
when you have received payment for the Bonds, in immediately
available funds, in the sum of the principal amount or par
value thereof and accrued interest to the date of delivery,
plus a premium of $422.50.
You are further authorized and directed to remit all of
the aforesaid proceeds received from the delivery and payment
of the Bonds, immediately upon receipt, and by the fastest
means available, to the credit of the ISSUER of the Bonds, at
its OFFICIAL DEPOSITORY, 4s follows:
, Texas
Enclosed herewith are four signed but undated copies of
each of the TREASURER'S RECEIPT, the SIGNATURE IDENTIFICATION
AND NO -LITIGATION CERTIFICATE, and the CLOSING CERTIFICATE
for said Series of Bonds. You are hereby authorized and di-
rected to date all copies of each of said documents concurrent-
ly with the date of delivery of and payment for the Bonds. If
any litigation or contest should develop or be filed, or if any
event should occur, or any knowledge should come to our atten-
tion, which would change or affect the veracity of the state-
ments and representations contained in any of said documents,
the undersigned will notify you thereof immediately by telephone
and telegraph. With this assurance you can rely on the absence
of any such litigation, contest, event, or knowledge, and on
the veracity and currency of each of said documents at the time
of delivery of and payment for the Bonds, unless you are noti-
fied otherwise as aforesaid. After all copies of each of said
documents have been dated in accordance with the foregoing in-
structions, please send all of them to McCall, Parkhurst &
Horton.
Attest:
„..„&,;„
'City Secretary
Sincerely yours,
CITY OF CORPUS CHRISTI, TEXAS
By
cc: M. E. Allison & Company
1615 National Bank of Commerce
San Antonio, Texas 78205