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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