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HomeMy WebLinkAbout020870 ORD - 02/06/1990CERTIFICATE FOR ORDINANCE THE STATE OF TEXAS COUNTY OF NUECES CITY OF CORPUS CHRISTI We, the undersigned officers of said City, hereby certify as follows: 1. The City Council of said City convened in REGULAR MEETING ON THE 23RD DAY OF JANUARY, 1990, at the regular designated meeting place, and the roll was called of the duly constituted officers and members of said City Council, to -wit: Betty Turner Frank Schwing, Tom Hunt, Leo Guerrero, Ed Martin, Joe McComb, Cliff Moss, Mary Rhodes, [vacancy], Juan Garza, Hal George, Jorge G. Garza, Armando Chapa, and all said persons were absentees: Mayor, Councilmembers, City Manager, City Attorney, Director of Finance, City Secretary, present, except the following thus constituting a quorum. the following was transacted Whereupon, among other business at said Meeting: a written ORDINANCE AUTHORIZING THE ISSUANCE OF REPLACEMENT BONDS FOR THE CITY OF CORPUS CHRISTI, TEXAS GENERAL IMPROVEMENT BONDS, SERIES 1978, BOND NUMBERS 1666 THROUGH 1668 AND 1679 THROUGH 1685 WITH COUPONS ATTACHED, AND OTHER MATTERS RELATED THERETO was duly introduced for the consideration of said City Council and read in full. It was then duly moved and seconded that said Ordinance be passed on first reading; and, after due discussion, said motion, carrying with it the passage of said Ordinance on first reading, prevailed and carried by the following vote: AYES: All members of said City Council shown present above voted "AYE". NAYS: /VC An_ MICROFILMED 2. Said City Council convened in REGULAR MEETING ON THE 30TH DAY OF JANUARY, 1990 and all officers and members of said City Council were present, except the following absentees: /r J ; V f_ thus constituting a quorum. Whereupon, among other business transacted at said Meeting, said Ordinance was duly introduced at a second meeting for the consideration of said City Council and read in full. It was then duly moved and seconded that said Ordinance be passed on second reading; and, after due discussion, said motion, carrying with it the passage of said ordinance on second reading, prevailed and carried by the following vote: AYES: All members of said City Council shown present above voted "AYE". NAYS: /Y N L- 3. Said City Council convened in REGULAR MEETING ON THE 6TH DAY OF FEBRUARY, 1990 and all officers and members of said City Council were present, except the following absentees: /`�) 1�7' C lam! L K u Elz- thus constituting a quorum. Whereupon, among other business transacted at said Meeting, said Ordinance was duly introduced at a third meeting for the consideration of said City Council and read in full. It was then duly moved and seconded that said Ordinance be passed on third reading; and, after due discussion, said motion, carrying with it the final passage of said ordinance on third reading, prevailed and carried by the following vote: AYES: All members of said City Council shown present above voted "AYE". NAYS: Al( AJC 4. That a true, full, and correct copy of the aforesaid Ordinance passed at the Meetings described in the above and foregoing paragraphs is attached to and follows this Certificate; that said Ordinance has been duly recorded in said City Council's minutes of said Meetings; that the above and foregoing paragraphs are true, full, and correct excerpts from said City Council's minutes of the respective Meetings pertaining to the passage of said Ordinance; that the persons named in the above and foregoing paragraphs are the duly chosen, qualified, and acting officers and members of said City Council as indicated therein; that each of the officers and members of said City Council was duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the aforesaid Meetings, and that said Ordinance would be introduced and considered for passage at said Meetings, and each of said officers and members consented, in advance, to the holding of said Meetings for such purpose; and that said Meetings were open to the public, and public notice of the time, place, and purpose of said Meetings was given, all as required by Vernon's Ann. Civ. St. Article 6252-17, as amended. SIGNED AND SEALED this 44t City Secretary Mayor (SEAL) ORDINANCE NO. . >2 C S 7 t AN ORDINANCE AUTHORIZING THE ISSUANCE OF REPLACEMENT BONDS FOR THE CITY OF CORPUS CHRISTI, TEXAS GENERAL IMPROVEMENT BONDS, SERIES 1978, BOND NUMBERS 1666 THROUGH 1668 AND 1679 THROUGH 1685 WITH COUPONS ATTACHED, AND OHTER MATTERS RELATED THERETO WHEREAS, the City Council of the City of Corpus Christi, Texas, by Ordinance No. 14176 passed February 15, 1978 (the "1978 Ordinance") provided for the issuance of and sold its City of Corpus Christi, Texas General Improvement Bonds, Series 1978 in the aggregate principal amount of $11,000,000 dated February 15, 1978; and WHEREAS, ten (10) bonds of the above described series of bonds, to -wit: Bond Numbers 1666 through 1668 and 1679 through 1685, each in the denomination of $5,000, bearing interest at a rate of 5.00% per annum, payable semiannually on each February 15 and August 15 (Interest Coupon No. 21 and subsequent coupons appertaining thereto unpaid), and maturing February 15, 1995 (the "Bonds") are outstanding and unpaid; and WHEREAS, a notarized affidavit of Shearson Lehman Hutton Inc., the owner of the Bonds (the "Owner"), to the effect that the Bonds were forwarded by United States Mail on July 12, 1988, from the Owner's Sarasota, Florida office to the Owner's New York, New York office, but were never received in New York or returned in Florida and are believed to be lost or destroyed in the mails, is on file in the offices of the City of Corpus Christi, Texas (the "City"), and such statement has been accepted by the City Council of the City as sufficient evidence that the Bonds have been lost, within the meaning of Article 715a of the Revised Civil Statutes of Texas, and a certified copy of such statement is attached hereto as a permanent part hereof; and WHEREAS, at the time of loss, Coupon Number 21, coming due on August 15, 1988, and subsequent coupons were attached to each of said Bonds, and therefore none of said coupons have been presented for payment; and WHEREAS, the Owner desires that replacement bonds be issued to replace the aforesaid lost Bonds and appurtenant coupons; and WHEREAS, by Acts 1965 of the 59th Legislature of the State of Texas, Chapter 334, commonly known as Article 715a of the Revised Civil Statutes of Texas, the City Council of the City is authorized to issue without an election bonds to replace any bonds theretofore lawfully issued which are outstanding and which have been destroyed, lost or stolen, provided that such replacement bonds may be issued only upon indemnification satisfactory to the City Council of the City establishing proof of ownership and the circumstances of the loss, theft or destruction of the bonds for which replacement bonds are being sought; and WHEREAS, a Bond of Indemnity Number 35846 92738-3177 dated May 24, 1989, executed by an authorized representative of Federal Insurance Company, as Obligor, has been received and is on file in the offices of the City, and such Bond of Indemnity is acceptable to the City Council of the City as sufficient indemnity under the provisions of Article 715a of the Revised Civil Statutes of Texas, and a certified copy of such Bond of Indemnity is attached hereto as a permanent part hereof. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: Section 1. That there is hereby authorized to be issued ten (10) replacement bonds to replace the Bonds. Said replacement bonds and the interest coupons appertaining thereto shall be in the same form and in all respects of like tenor and effect as the Bonds, and the interest coupons appertaining thereto, as set forth in the 1978 Ordinance, except that such replacement bonds and the interest coupons appertaining thereto shall be signed manually, or in facsimile, as provided by law, by the proper officials holding office at the time of their issuance. Section 2. That said replacement bonds shall be dated February 15, 1978, which is the date of the Bonds. Section 3. That said replacement bonds and all interest coupons appertaining thereto shall have the letter "R" preceding the Bond Number and following the Interest Coupon Number. Section 4. That after said replacement bonds have been executed, it shall be the duty of the Mayor of the City or some officer, employee or attorney of the City acting through authority from him, to deliver the replacement bonds to the Attorney General of Texas for examination and approval. After approval by the Attorney General of Texas, the replacement bonds shall be delivered to the Comptroller of Public Account of the State of Texas for registration. The replacement bonds thus registered shall remain in custody of the Mayor of the City, or subject to his order, until the delivery thereof to the Owner of the original Bonds being replaced thereby. Section 5. That the Comptroller of Public Accounts of the State of Texas is hereby authorized and directed to register the replacement bonds in the same manner as the original Bonds were registered, giving them the same registration numbers as the original Bonds except that such numbers shall be preceded by the letter "R". The Comptroller shall date his registration certificate as of the date of registration of the replacement bonds. Section 6. That all provisions of the 1978 Ordinance providing for the issuance of the series of bonds of which the Bonds were a part and which are not in conflict with this ordinance are hereby adopted by reference and shall be a part of this ordinance. Section 7. That the preparation and passage of this ordinance by the City Council and the performance of each and every, all and singular, the acts ordered hereby and all acts or expenditures incidental thereto shall be at no cost to the City and shall be borne entirely by and be the sole liability of the Owner of the lost Bonds which has requested the issuance of replacement securities as provided herein. PASSED AND APPROVED on January 1990, and, passed finally, on this 1990. 23, 1990, January 30, 6th day of February, Mayor, City Texas City Secretary, City of Corpus Christi, Texas (SEAL) APPROVED A d'O FORM: City Attorney, City of Corpus Christi, Texas of Corpus Christi, GENERAL CERTIFICATE THE STATE OF TEXAS COUNTY OF NUECES CITY OF CORPUS CHRISTI • • • • We, the undersigned, hereby officially certify that we are the Mayor and City Secretary, respectively, of said City and we further certify as follows: 1. That this certificate is executed with reference to the City of Corpus Christi General Improvement Bonds, Series 1978 (the "Series 1978 Bonds"), Replacement Bonds Numbers R-1666 through R-1668 and R-1679 through R-1685 (the "Replacement Bonds"). 2. That the payment of interest and principal on the Series 1978 Bonds has been made at all times as required by Ordinance No. 14176 of the City of Corpus Christi, Texas providing for the issuance of the Series 1978 Bonds, dated February 15, 1978. 3. That no litigation of any nature has ever been filed pertaining to, affecting, or contesting: (a) the issuance, delivery, payment, security, or validity of the Series 1978 Bonds, (b) the authority of the officers of said City to issue, execute and deliver said bonds, (c) the validity of the corporate existence or the Charter of said City; and that no litigation is pending pertaining to, affecting or contesting the boundaries of said City. 4. That on February 6, 1990, the date the ordinance was adopted on third reading authorizing the issuance of the Replacement Bonds, the following persons were duly elected or appointed and qualified officials of said City: Betty Turner Frank Schwing, Tom Hunt, Leo Guerrero, Ed Martin, Joe McComb, Cliff Moss, Mary Rhodes, [vacancy], Juan Garza, Debra J. Andrews, Hal George, Jorge G. Garza, Armando Chapa, Mayor, Councilmembers, City Manager, Assistant City Manager City Attorney, Director of Finance, City Secretary, SIGNED ANID_.SEALED this (( City Secretary, City o! Corpus Christi, Texas (SEAL) ILL,_t2 )L -LJ / /9,7K: , / e c ( Mhyor, City of Corpus Christi, Texas APPROVED AS TO FORM AND CORRECTNESS this JA/KC/9, /9V`, City Attorney, City of Corpus Christi, Texas SIGNATURE IDENTIFICATION AND NO -LITIGATION CERTIFICATE THE STATE OF TEXAS COUNTY OF NUECES CITY OF CORPUS CHRISTI We, the undersigned, hereby certify as follows: (a) That this certificate is executed and delivered with reference to the issuance of Replacement Bonds, Numbers R-1666 through R-1668 and R-1679 through R-1685, to replace Bonds Number 1666 through 1668 and 1679 through 1685 of the City of Corpus Christi, Texas General Improvement Bonds, Series 1978, dated February 15, 1978, which were lost. Said Replacement Bonds are in the denomination of $5,000 each and bear the date of the original bonds which they replace, February 15, 1978. (b) That we officially executed and signed said Replacement Bonds and the interest coupons attached thereto, by causing our facsimiles of our manual signatures to be im- printed or lithographed on each of said Replacement Bonds, and we hereby adopt said facsimile signatures as our own, respectively, and declare that said facsimile signatures constitute our signatures the same as if we had manually signed each of said Replacement Bonds and interest coupons in our respective official capacities. (c) That at the time we so executed and signed said Replacement Bonds we were, and at the time of executing this certificate we are, the duly chosen, qualified, and acting officers indicated therein and authorized to execute the same. (d) That no litigation of any nature has been filed or is now pending to restrain or enjoin the issuance or de- livery of said Replacement Bonds or interest coupons, or which would affect the provision made for their payment or security, or in any manner questioning the proceedings or authority concerning the issuance of said Replacement Bonds or interest coupons, and that so far as we know and believe no such litigation is threatened. (e) That neither the corporate existence nor boundaries of said issuer is being contested, that no litigation has been filed or is now pending which would affect the au- thority of the officers of said issuer to issue, execute or deliver said Replacement Bonds or interest coupons, and that no authority or proceedings for the issuance of said Replacement Bonds or interest coupons have been repealed, revoked, or rescinded. (f) That we have caused the official seal of said issuer to be impressed, or printed or lithographed on each of said Replacement Bonds; and said seal on said Replacement Bonds has been duly adopted as, and is hereby declared to be, the official seal of said issuer. EXECUTED and delivered this r _�(,` / l %L MANUAL SIGNATURES OFFICIAL TITLES BANK SEAL Mayor, City of Corpus Christi City Secretary, City of Corpus Christi The signatures of the officers subscribed above are hereby certified to be true and genuine By Bank Authorized Officer APPROVED AS TO FORM AND CORRECTNESS this 3-1)14,2;0 / j %1' City Attorney, C� ity of Corpus Christi CERTIFICATE FOR AFFIDAVIT STATE OF TEXAS § COUNTY OF NUECES § CITY OF CORPUS CHRISTI § I, the City Secretary of the City of Corpus Christi, Texas, do hereby certify that the attached notarized affidavit containing a statement establishing the ownership of the Bonds described therein and the facts surrounding the loss of said Bonds is a true and correct copy of the original of said document on file in the records of the City of Corpus Christi, Texas. Date: 'hue City Secretary, City of corpus Christi, Texas (SEAL) (C., cy �� AutHONIA1 RY COUNCIL . V( CPUAf MAIL 1 OSS AFFFDAVITS DETAILS OF SHIPMENT FW of Mailing: form 4074(Nen, 3/791 SHEARSON LEHMAN HUTTON INC 1980 LANDINGS BLVD, SARSOTA, FL 34231 Meiling: 7/12/88 IAldk..) SHEARSON LEHMAN HUTTON INC, P.O. BOX 804, BOWLING GREEN STATION NEW YORK, N.Y. 10274 N.W .fid Name. of CERT# 1666 THRU 1668 and 1679 THRU 1685.0 5,000 EACH Shames Principal Amount of Bonds and/or Coupons: Corporation or has CITY OF cysorStock5.00% DUE Description of issue: RR-IiM--d in Name of: R Endorsed, Indicate Hee: BEAR CORPUS CHRISTI, TX, GENERAL IMPROVEMENT BOND, SERIES 1978 2/15/95 1ST COUP DUE stl(d5/8V5CA BOND Rt G')F %/44`� n OPS oth car 0114°Ct. ER AFFIDAVIT OF MAILING AFFIDAVIT OF NON -RECEIPT STATE OF: FLORIDA �a I N COUNTY OF: SARASOTA .4' The undersigned, deponent, being first duly sworn, deposes and says that, in accordance with the records of the above named Sender, the above described securities were forwarded by United States Mail on the date specified in a postpaid envelope addressed to the above named Addressee. The said Addressee has reported the nondelivery of the said se rities. The securiti: a not been returned to the above named Sender and they are believed to have been lost or destroyed in the I- iis. Deponent agrees on behalf of above named Sender that if the securities should ver cont 1 into eir hero • custody or power, deponent will immediately surrender the original securities for cancellation. Indicate here whether deponent is an officer, partner or employee of Sender. Subscribed and sworn to before me this STATE OF: NEW YORK Deponent's signature Deponent's address i V - Notary Pub( (Indic to NY CONIISS101 EXP SEPI 76,1990 1010E0 )MIO GENERAL INS. NOD. COUNTY OF: NEW YORK The undersigned deponent(s), being first duly sworn depose(s) and say(s) that the above described securities have never been re- ceived by the above named Addressee or any person or persons acting on (its) (his) (her) (their) behalf. Deponent(s) agrees) (on behalf of the above named Addressee) that if the securities should ever come into (its) (his) (her) (their) cpstody or power, deponents) will immedi- ately notify the above named Sender and will surrender the original securities for cancellatjpn. If Addressee is a firm or corporation indicate here whether officer, partner or employee - EMPLOYEE Of more than one addressee or registered owner, all must sign) Subscribed and Sworn to before me this F EDDY ROJAS Notary Public, Stale of New'ibk No.31-4918486 �s Qualified in New York County cp Camn!ttton Fxp:rca Feb. 11,18 Oeponentls) Signaturals) Deponent(s) address ONE WESTERN UN4-0N IAT) PLAZA NEW YORK, NY 10004 11n:cats date commission expires/ Parts 1 - 41WH) rES1 - Customer Original Signatures; 5 (YELLOW) - Pile; 5 (PINK) - Security Notice. CUSTOMER MUST SIGN PARTS 1,2,3 and CERTIFICATE FOR LOST INDEMNITY BOND STATE OF TEXAS § COUNTY OF NUECES § CITY OF CORPUS CHRISTI § I, the City Secretary of the City of Corpus Christi, Texas, do hereby certify that the attached Bond of Indemnity is a true and correct copy of the original of said document on file in the records of the City of Corpus Christi, Texas. Date: -� - 7 'l C S ,1.i �� � City Secretary, City of Corpus Christi, Texas (SEAL) _I CJI -1U0173 CHUBB GROUP of Insurance Companies FEDERAL INSURANCE COMPANY BOND NO. 35846 92738-3177 BOND OF INDEMNITY (OPEN PENALTY) KNOW ALL MEN BY THESE PRESENTS, that FEDERAL INSURANCE COMPANY a corporation duly organized and existing under and by virtue of the laws of the State of New Jersey and duly authorized to transact the business of Insurance in the State of New York and all other States in the United States of America and having an office and place of business in New York State at 100 William Street, New York, N.Y. 10038, and at 717 North Harwood, Suite 300, Dallas, Texas 75201-6502, as Obligor (hereinafter called the "Obligor" is held and firmly bound unto CITY OF CORPUS CHRISTI MTRUST CORP., N.A individually and/or as Trustee, Depositary, Fiscal, Paying or Disbursing Agent, Registrar, Transfer Agent, (and unto any other Trustees, Depositaries, Fiscal, Paying or Disbursing Agents or Agencies, Registrars and/or Transfer Agents), their respective legal representatives, successors and assigns (hereinafter collectively called "Obligees"), in an aggregate sum, lawful money of the United States of America, sufficient to indemnify the Obligees under the conditions of this bond as hereinafter set forth, but not exceeding the maximum amount for which Obligor may obligate itself on the date of this bond in respect of any one risk or hazard under any law governing the validity or performance of this bond, said sum to be paid to Obligees, their respective legal representatives, successors or assigns, as interest may appear; for which payment well and truly to be made the Obligor binds itself, its legal representatives, successors and assigns, jointly and severally, firmly by these presents. SEALED with its seal and executed in THREE counterparts the 24th day of May, 1989. WHEREAS, the Obligor represents that SHEARSON LEHMAN HUTTON, INC. is/are the unqualified owner(s) of $50,000 CITY OF CORPUS CHRISTI, TEXAS GENERAL IMPROVEMENT BOND, SERIES 1978, 5.00% DUE 02/15/95, BOND NUMBERS 1666 THRU 1668 & 1679 THRU 1685 @ $5,000 EACH WITH COUPON21 DUE 08/15/88 SCA IN BEARER FORM (such security or securities being hereinafter called "original" or "originals"), and that the same has/have been mislaid, lost, destroyed, or wrongfully taken and cannot be found or produced, by virtue of which the Ohlirtor nas requested Obligees to issue and deliver to SHEtRSON LEHMAN HUTTON, INC. or his/her/its order a new or duplicate instrument or instruments (hereinafter sometimes called "duplicate" or "duplicates"), or to pay to SHEARSON LEHMAN HUTTON, INC. or credit to his/her/its account the amount due on said original or originals without surrender or pros.;fltafion thereof .F.0- cancellation or stamping or for any other purpose; and PRI TED P-84622 (50M) UFA =orm 30-02-0003 (Ed 2-84) WHEREAS, on the faith of the foregoing representations and in consideration of this bond of indemnity, Obligees have complied or have agreed to comply with said requests. NOW, THEREFORE, THE CONDITIONS OF THIS OBLIGATION ARE, that if the Obligor, the legal representatives, successors or assigns of the Obligor or any of them, shall in case the original or originals be found or come into the hands, custody or power of any of them, or into the hands, custody or power of any person, deliver or cause the same to be delivered unto Obligees in order to be cancelled, and shall also at all times defend, indemnify and save harmless obligees from and against any and all claims, actions and suits, whether groundless or otherwise, and from and against any and all liabilities, losses, damages, costs, charges, counsel fees and other expenses of every nature and character by reason of the original or originals and/or the issuance of a duplicate or duplicates in lieu thereof or in lieu of any instrument or instruments of purported like issue and amount which because of alteration, change or counterfeit may or may not be identified as the said mislaid, lost stolen or destroyed original or originals, or the making of any payment, credit, transfer, registration, conversion, exchange, or delivery in respect of the original or originals without surrender thereof and/or in respect of the duplicate or duplicates, whether or not caused by based upon or arising out of the honoring or refusing to honor the criginal or originals when presented by anyone, and/or whether or not caused by, based upon, or arising out of inadvertence, accident, oversight or neglect on the part of Obligees, or any of them, or their respective officers, agents, clerks or employees and/or omission or failure to inquire into, contest or litigate the right of any applicant to receive any payment, credit, transfer, registration, conversion, exchange, issue or delivery in respect of the original or originals and/or the duplicate or duplicates issued in lieu thereof, and/or caused by, based upon or arising out of the release of any security or the satisfaction of any instrument or instruments, under which the original or originals and/or duplicate or duplicates are issued or secured, and/or caused by, based upon or arising out of any other matter or thing whatsoever, then this Obligation shall be void; otherwise shall remain in full force and effect. Obligor further agrees that if the mislaid, lost, stolen, or destroyed original or originals be found or come into the hands, custody or power of any person or into the hands, custody or power of the Obligees or any of them for any purpose other than cancellation without reissue, the Obligor will forthwith on demand obtain and deliver to the Obligees either such original or originals or such duplicate or duplicates or will pay to the obligees a sum of money sufficient to enable the Obligees to purchase in the open market securities of the same issue and amount as the original or originals. Obligor further agrees that, in case of any default under the conditions of this bond, the Obligor waives and releases any and all right or claim against Obligees, or any of them whether by way of subrogation or otherwise, for any loss, expense or liability incurred by the Obligor caused by, based upon or arising out of the enforcement of this bond by the Obligees or any of them. (No inaccuracy in the description of the securities herein referred to as original or originals shall alter, modify or affect the obligations of the Obligor hereunder.) Obligor agrees that its liability bogy?under shall be absolute, subject only to the conditions h3_ein expressed. FEDERAL INSURANCE COMPANY BY/. Attorney -in -Fact POWER OF ATTORNEY ,....w all Men by these Presents, That the FEDERAL INSURANCE COMPANY, 15 Mountain View Road, Warren, New Jersey, a New Jer. .upora- tion, has constituted and appointed and does hereby constitute and appoint Mark A. Cook, Robert Briganti, Assistant Secretary, Malcolm Burton, Assistant Secretary, Dorothy Kern, Marie Hughes, Jean B. Kenney, Jeannine Fuscaldo, Chantal Cabrol and Gail Victor of New York, New York. each its true and lawful Attorney -in -Fact to execute under such designation in its name and to affix its corporate seal to and deliver for and on its behalf any and all Lost Instrument Bonds wherein the said FEDERAL INSURANCE COMPANY is named as Obligor. In Witness Whereof, me said FEDERAL INSURANCE COMPANY has, pursuant to Its By -Laws, caused these presents to be signed by Its Assistant Vice -President and Assistant Secretary and Its corporate seal to be hereto affixed this 1st day of April, 1988. \\A< Rich rd Hight Assistant Secretary STATE OF NEW YORK County of New York } SS FEDERAL SURANCE CO PANY By _ George McClellan Assistant Vice President On this 1st day of April 1988, before me personally came Richard Hight, to me known and by me known to be Assistant Secretary of the FEDERAL INSURANCE COMPANY, the Corporation described In and which executed the foregoing Power of Attorney and the said Richard Hight being by me duly sworn, did depose and say that he Is Assistant Secretary of the FEDERAL INSURANCE COMPANY and knows the corporate seal thereof. that the seal affixed to the foregoing Power of Attorney is such corporate seal and was thereto affixed by authority of the By -Laws of said Company and that he signed said Power of Attorney as Assistant Secretary of said Company by like authority, that he is aouainted with George McClellan and knows him to be Assistant Vice- President of said Company, and that the signature of said George McClellan subscribed 10 said Powe' of Attorney is in the genuine handwriting of said George McClellan and was thereto subscribed by authority of said By -Laws and in deponent's presence. Acknowledged and Sworn to before me on the date above written 1t/ // P%il` �L 2 Mary E McG gh Nota biro Notary P State of New York No. 01 MC46385 Qualified Mn Queens County — Cenillcate filed ir1(gfieens County Commission Expires June 30, 1990 Financial Statement of Federal Insurance Company as of December 31, 1987 IN THOUSANDS OF DOLLARS STATUTORY BASIS ASSETS United States Treasury Bonds United States Government Secured New Housing Bonds State and Municipal Bonds Other Bonds Preferred Stocks Common Stocks Other Invested Assets Short Term Investments LIABILITIES AND SURPLUS TO POLICYHOLDERS $ 446,805 Outstanding Losses and Claims $ 1,962,485 Unearned Premiums 786,935 45,351 Expense Reserves 61,727 1,774,743 Dividends Payable to Policyholders 20,409 98,267 Non -Admitted Reinsurance 20,059 0 Loss Portfolio Transfer —130,037 154,631 Other Liabilities 180,771 40,695 70,770 TOTAL INVESTMENTS 2,631,262 Investment in Affiliates: Vigilant Insurance Co Great Northern Insurance Co Pacific Indemnity Company Chubb Life Insurance Co Bellemead Development Corp Chubb Ins. Co. of Canada Other Cash Net Premiums Receivable Reinsurance Recoverable on Paid Losses 48,329 Other Assets 116,321 TOTAL ADMITTED ASSETS $ 4,112,343 111,025 39,975 204,491 176,993 254,308 35,578 42,018 20,803 431,240 TOTAL LIABILITIES Common Stock Paid -in Surplus Unassigned Funds Unrealized Appreciation of Investments SURPLUS TO POLICYHOLDERS TOTAL 2 902 349 13,987 561,253 390,752 244,002 1,209,994 $ 4,112,343 Investments are valued in accordance with requirements of the National Association of Insurance Commissioners. NOTARIAL ACKNOWLEDGEMENT CITY, COUNTY & STATE OF NEW YORK, ss 24th May 89 Dorothy Kern On this day of 19 before me personally came to me known, who, being by me duly sworn, did depose and say that he is an Attorney -in -Fact of the FEDERAL INSURANCE COMPANY, the Corporation described in and which executed the annexed instrument; that he knows the corporate seal; that it was so affixed by order and authority of the Board of Directors of said corporation, and that he signed his name thereto by like order and authority. Notarial Seal STATE OF NEW YORK County of New York NOTARY ELBA SANTIAGO RY PUBLIC, clan *r No 48464 TO NeW Yetil Qualified in Fr.,nx Certificate Filed in NeGoorily Commissn Fxia ` Yrk fumy p,res a-.uerY s1,, IC VO CERTIFICATION Ac owledged an on the dale Sworn 10 be ve wrinec e me Not Public I. the undersigned. Assistant Secretary of the FEDERAL INSURANCE COMPANY, do hereby certify that the fallowing is a true excerpt from the By -Laws of the said Company as adopted by its Board of Directors on March 11. 1953 and most recently amended March 5, 1986 and that this By -Law Is In Lull force and ettect "ARTICLE XVIII. Section 2. All bonds, undertakings, contracts and other Instruments other than as above for and on behalf of the Company which it Is authorized by law or its charter to execute, may and shall be executed in the name and on behalf of the Company either by the Chairman or the Vice -Chairman or the President or a Vice -President. jointly with the Secretary or an Assistant Secretary, under their respective designations, except that any one or more officers or attorneys -in -fact designated in any resolution of the Board of Directors or the Executive Committee, or in any power of attorney executed as provided for in Section 3 below, may execute any such bond. undertaking or other obligation as provided In such resolution or power of attorney. Section 3 All powers of attorney for and on behalf of the Company may and shall be executed in the name and on behalf of the Company, either by the Chairman or the Vice -Chairman or the President or a Vice -President or an Assistant Vice -President. jointly with the Secretary or an Assistant Secretary, under their respective designations. The signature of such officers may be engraved, printed or lithographed. The signature of each of the following officers. Chairman, Vice Chairman. President, any Vice President, any Assistant Vice President. any Secretary, any Assistant Secretary and the seal of the Company may be affixed by facsimile to any power of attorney or to any certificate relating thereto appointing Assistant Secretaries or Attorneys -In -Fact for purposes only of executing and attesting bonds and undertak- ings and other writings obligatory in the nature thereof, and any such power of attorney or certificate bearing such facsimile sgnature or facsimile seal shalt be valid and binding upon the Company and any such power so executed and certified by such facsimile signature and facsimile seal shall be valid and binding upon the Company with respect to any bond or undertaking 10 which It is attached." further certify that said FEDERAL INSURANCE COMPANY is duly licensed to transact fidelity and surely business ,n each of the States of the United States of America. District of Columbia. Puerto Ricoand each of the Provinces of Canada with the exception of Prince Edward Island and r5 also duly licensed to become sole surety on bondsundertakings, etc., permitted or required by law. I. the undersigned Assistant Secretary of FEDERAL INSURANCE COMPANY. do hereby certify that the foregoing Power of Attorney is In full force and effect. 24th May Given under my hand and the seal of said Company al Warren N J this day of 19 89 Form 21 10-0334 (Rev. 4-88) N Y REG MAIL P-92741 (50M) PRINTED IN SA CHUB B CHUBB GROUP OF INSURANCE COMPANIES 92738-3177 November 7, 1989 McCall, Parkhurst & Horton 717 North Harwood, 9th Floor Dallas, Texas 75201-6597 Att: Gregory B. Salinas RE: REPLACEMENT OF IOST BONDS OF CITY OF CORPUS CHRISTI, TEXAS GENERAL IMPROVEMENT BONDS, SERIES 1978, BOND NOS. 1666-1668 AND 1679-1685, 5.00%,DUE FEBRUARY 15, 1995 Dear Mr. Salinas: Your letter of October 2 addressed to our insuredhas been referred to us for reply. Please be advised that this letter will authorize you to delete the words "Limited Tax" from our bond of indemnity and we have done the same on our file copy. Also we are enclosing copies of the stop letter to Mrrust Corp. N.A. and their response as requested. Yours very truly, 'YdJERAL II3 L1RPI'CE COMPANY l (Miss) Mares Hughes Registered Mail Loss Dept. MH:jm CC: Shearson Lehman Hutton Inc. Your File No. 3147005M.B Att: Raymond Thomas IAL_A CHUBS CHUBB GROUP OF INSURANCE COMPANIES 92738-3177 January 12, 1990 McCall, Parkhurst & Horton 717 North Harwood, 9th Floor Dallas, Texas 75201 - 6597 Att: Gregory B. Salinas RE: REPLACEMENT OF LAST BONDS OF CITY OF CORPUS CHRISTI TEXAS GENERAL IMPROVEMENT BONDS, SERIES 1978, BOND NOS. 1666-1668 AND 1679-1685, 5.00%, Due FEI+RUARY 15, 1995 Dear Mr. Salinas: We have been advised by our insured that Coupon No. 1 as indicated in our bond of indennity is incorrect and should be described as Coupon No. 21 and SCA. Please arund our bond accordingly. Yours very truly, YrEERAL INSURANCE COMPANY A �: , _, (Miss) Marie Hughes Registered Mail LosS;Dept. MH:jm CC: Shearon Tehran Hutton Inc. Your File No. 314700MR Att: Raymond Thomas February 6, 1990 First City, Texas - Austin, N.A. 823 Congress Avenue Austin, Texas 78767 Re: City of Corpus Christi, Texas General Improvement Bonds, Series 1978, Replacement Bonds, Numbers R-1666 through R-1668 and R-1679 through R-1685 Ladies and Gentlemen: The Issuer of the captioned Replacement Bonds has designated your bank as the place, and as their agent, for the delivery of the Bonds. Upon notice of their registration, you are hereby authorized and directed to pick up the Bonds at the Economic Analysis Center of the Office of Comptroller of Public Accounts and to hold the Bonds for safekeeping pending said delivery. When you receive the Replacement Bonds, you are authorized and directed to forward the Replacement Bonds by registered or certified mail to: Shearson Lehman Hutton, Inc. Attention: Ada Garvin Certificate Replacement Dept., 17th Floor One Western Union International Plaza New York, New York 10004 when you have received a check from Shearson Lehman Hutton, Inc. in payment of your expenses in the amount of $57.50. Enclosed herewith is a signed but undated copy of the Signature Identification and No -Litigation Certificate for said Replacement Bonds. You are hereby authorized and directed to date the Certificate concurrently with the date of delivery and payment of the expenses relating to the Replacement Bonds. If any litigation or contest should develop or be filed, or if any other event should occur, or any knowledge should come to our attention, which would change or affect the veracity of the statements and representations contained in said document, 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 said Certificate, at the time of delivery and payment of the expenses relating to the Replacement Bonds, unless you have been notified otherwise, as aforesaid. After the Certificate has been dated in accordance with the foregoing instructions. please send it to McCall. Parkhurst & Horton. Sincerely yours, CITY OF CORPUS CHRISTI, TEXAS By cc: McCall, Parkhurst & Horton Shearson Lehman Hutton, Inc. 1 Mayor February 6, 1990 The Attorney General of Texas Public Finance Division Executive Office Building 411 West 13th St., 7th Floor Austin, Texas 78701 Re: City of Corpus Christi, Texas General Improvement Bonds, Series 1978, Replacement Bonds, Numbers R-1666 through R-1668 and R-1679 through R-1685 Dear Sir: The captioned Bonds are being sent to your office, and it is requested that you examine and approve the Bonds in accordance with law. After such approval, please deliver the Bonds to the Comptroller of Public Accounts for registration. Enclosed herewith is a signed but undated copy of the Signature Identification and No -Litigation Certificate for said Bonds. You are hereby authorized and directed to date said Certificate concurrently with the date of approval of the Bonds. If any litigation or contest should develop pertaining to the Bonds or any other matters covered by said Certificate, the undersigned will notify you thereof immediately by telephone and telegraph. With this assurance, you can rely on the absence of any such litigation or contest, and on the veracity and currency of said Certificate, at the time you approve the Bonds unless you are notified otherwise, as aforesaid. Sincerely yours, CITY OF CORPUS CHRISTI, TEXAS By C.r :rte-rii;i Mayor cc: McCall, Parkhurst & Horton February 6, 1990 The Comptroller of Public Accounts Attn: Arlene Chisholm 111 East 17th Street Austin, Texas 78774 Re: City of Corpus Christi, Texas General Improvement Bonds, Series 1978, Replacement Bonds, Numbers R-1666 through R-1668 and R-1679 through R-1685 Dear Mrs. Chisholm: The approved captioned Replacement Bonds will be delivered to you by the Attorney General of Texas. You are hereby requested to register the Bonds as required by law and by the proceedings authorizing the Bonds. The Registration Numbers on the Bonds should be the same as the number on each respective Bond it replaces, except that it should be preceded by the letter "R". After such registration, you are hereby authorized and directed to deliver the Bonds to First City, Texas - Austin, N.A., Austin, Texas. Please send to McCall, Parkhurst & Horton, Attorneys at Law, 717 North Harwood, 9th Floor, Dallas, Texas 75201, five copies of each of the following: (1) Attorney General's Approving Opinion; (2) Comptroller's Signature Certificate (dated as of the date of registration of the replacement bonds). Thank you for your assistance. Sincerely yours, CITY OF CORPUS CHRISTI, TEXAS Mayor cc: McCall, Parkhurst & Horton CERTIFICATE FOR ORDINANCE THE STATE OF TEXAS COUNTY OF NUECES CITY OF CORPUS CHRISTI We, the undersigned officers of certify as follows: 1. The City Council of said City MEETING ON THE 23RD DAY OF JANUARY, 19 designated meeting place, and the roll duly constituted officers and members of to -wit: Betty Turner Frank Schwing, Tom Hunt, Leo Guerrero, Ed Martin, Joe McComb, Cliff Moss, Mary Rhodes, [vacancy], Juan Garza, Hal George, Jorge G. Garza, Armando Chapa, and all said persons were absentees: 0 Mayor, said City, hereby convened in REGULAR 90, at the regular was called of the said City Council, Councilmembers, City Manager, City Attorney, Director of Finance, City Secretary, present, except the following thus constituting a quorum. Whereupon, among other business the following was transacted at said Meeting: a written ORDINANCE AUTHORIZING THE ISSUANCE OF REPLACEMENT BONDS FOR THE CITY OF CORPUS CHRISTI, TEXAS GENERAL IMPROVEMENT BONDS, SERIES 1978, BOND NUMBERS 1666 THROUGH 1668 AND 1679 THROUGH 1685 WITH COUPONS ATTACHED, AND OTHER MATTERS RELATED THERETO was duly introduced for the consideration of said City Council and read in full. It was then duly moved and seconded that said Ordinance be passed on first reading; and, after due discussion, said motion, carrying with it the passage of said Ordinance on first reading, prevailed and carried by the following vote: AYES: All members of said City Council shown present above voted "AYE". NAYS: N G /V L- 208'70 2. Said City Council convened in REGULAR MEETING ON THE 30TH DAY OF JANUARY, 1990 and all officers and members of said City Council were present, except the following absentees: NO AO fc. thus constituting a quorum. Whereupon, among other business transacted at said Meeting, said Ordinance was duly introduced at a second meeting for the consideration of said City Council and read in full. It was then duly moved and seconded that said Ordinance be passed on second reading; and, after due discussion, said motion, carrying with it the passage of said ordinance on second reading, prevailed and carried by the following vote: AYES: All members of said City Council shown present above voted "AYE". NAYS: /V D N 3. Said City Council convened in REGULAR MEETING ON THE 6TH DAY OF FEBRUARY, 1990 and all officers and members of said City Council were present, except the following absentees: 74A-702. % O P N F/2 thus constituting a quorum. Whereupon, among other business transacted at said Meeting, said Ordinance was duly introduced at a third meeting for the consideration of said City Council and read in full. It was then duly moved and seconded that said Ordinance be passed on third reading; and, after due discussion, said motion, carrying with it the final passage of said ordinance on third reading, prevailed and carried by the following vote: AYES: All members of said City Council shown present above voted "AYE". NAYS: NO /VC 4. That a true, full, and correct copy of the aforesaid Ordinance passed at the Meetings described in the above and foregoing paragraphs is attached to and follows this Certificate; that said Ordinance has been duly recorded in said City Council's minutes of said Meetings; that the above and foregoing paragraphs are true, full, and correct excerpts from said City Council's minutes of the respective Meetings pertaining to the passage of said Ordinance; that the persons named in the above and foregoing paragraphs are the duly chosen, qualified, and acting officers and members of said City Council as indicated therein; that each of the officers and members of said City Council was duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the aforesaid Meetings, and that said Ordinance would be introduced and considered for passage at said Meetings, and each of said officers and members consented, in advance, to the holding of said Meetings for such purpose; and that said Meetings were open to the public, and public notice of the time, place, and purpose of said Meetings was given, all as required by Vernon's Ann. Civ. St. Article 6252-17, as amended. SIGNED:\AND SEALED this / -)rte n—z/' /CLI City Secretary Mayor (SEAL) ORDINANCE NO. 72 O,' 70 AN ORDINANCE AUTHORIZING THE ISSUANCE OF REPLACEMENT BONDS FOR THE CITY OF CORPUS CHRISTI, TEXAS GENERAL IMPROVEMENT BONDS, SERIES 1978, BOND NUMBERS 1666 THROUGH 1668 AND 1679 THROUGH 1685 WITH COUPONS ATTACHED, AND OHTER MATTERS RELATED THERETO WHEREAS, the City Council of the City of Corpus Christi, Texas, by Ordinance No. 14176 passed February 15, 1978 (the "1978 Ordinance") provided for the issuance of and sold its City of Corpus Christi, Texas General Improvement Bonds, Series 1978 in the aggregate principal amount of $11,000,000 dated February 15, 1978; and WHEREAS, ten (10) bonds of the above described series of bonds, to -wit: Bond Numbers 1666 through 1668 and 1679 through 1685, each in the denomination of $5,000, bearing interest at a rate of 5.00% per annum, payable semiannually on each February 15 and August 15 (Interest Coupon No. 21 and subsequent coupons appertaining thereto unpaid), and maturing February 15, 1995 (the "Bonds") are outstanding and unpaid; and WHEREAS, a notarized affidavit of Shearson Lehman Hutton Inc., the owner of the Bonds (the "Owner"), to the effect that the Bonds were forwarded by United States Mail on July 12, 1988, from the Owner's Sarasota, Florida office to the Owner's New York, New York office, but were never received in New York or returned in Florida and are believed to be lost or destroyed in the mails, is on file in the offices of the City of Corpus Christi, Texas (the "City"), and such statement has been accepted by the City Council of the City as sufficient evidence that the Bonds have been lost, within the meaning of Article 715a of the Revised Civil Statutes of Texas, and a certified copy of such statement is attached hereto as a permanent part hereof; and WHEREAS, at the time of loss, Coupon Number 21, coming due on August 15, 1988, and subsequent coupons were attached to each of said Bonds, and therefore none of said coupons have been presented for payment; and WHEREAS, the Owner desires that replacement bonds be issued to replace the aforesaid lost Bonds and appurtenant coupons; and WHEREAS, by Acts 1965 of the 59th Legislature of the State of Texas, Chapter 334, commonly known as Article 715a of the Revised Civil Statutes of Texas, the City Council of the City is authorized to issue without an election bonds to replace any bonds theretofore lawfully issued which are outstanding and which have been destroyed, lost or stolen, provided that such replacement bonds may be issued only upon indemnification satisfactory to the City Council of the City establishing proof of ownership and the circumstances of the loss, theft or destruction of the bonds for which replacement bonds are being sought; and WHEREAS, a Bond of Indemnity Number 35846 92738-3177 dated May 24, 1989, executed by an authorized representative of Federal Insurance Company, as Obligor, has been received and is on file in the offices of the City, and such Bond of Indemnity is acceptable to the City Council of the City as sufficient indemnity under the provisions of Article 715a of the Revised Civil Statutes of Texas, and a certified copy of such Bond of Indemnity is attached hereto as a permanent part hereof. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: Section 1. That there is hereby authorized to be issued ten (10) replacement bonds to replace the Bonds. Said replacement bonds and the interest coupons appertaining thereto shall be in the same form and in all respects of like tenor and effect as the Bonds, and the interest coupons appertaining thereto, as set forth in the 1978 Ordinance, except that such replacement bonds and the interest coupons appertaining thereto shall be signed manually, or in facsimile, as provided by law, by the proper officials holding office at the time of their issuance. Section 2. That said replacement bonds shall be dated February 15, 1978, which is the date of the Bonds. Section 3. That said replacement bonds and all interest coupons appertaining thereto shall have the letter "R" preceding the Bond Number and following the Interest Coupon Number. Section 4. That after said replacement bonds have been executed, it shall be the duty of the Mayor of the City or some officer, employee or attorney of the City acting through authority from him, to deliver the replacement bonds to the Attorney General of Texas for examination and approval. After approval by the Attorney General of Texas, the replacement bonds shall be delivered to the Comptroller of Public Account of the State of Texas for registration. The replacement bonds thus registered shall remain in custody of the Mayor of the City, or subject to his order, until the delivery thereof to the Owner of the original Bonds being replaced thereby. Section 5. That the Comptroller of Public Accounts of the State of Texas is hereby authorized and directed to register the replacement bonds in the same manner as the original Bonds were registered, giving them the same registration numbers as the original Bonds except that such numbers shall be preceded by the letter "R". The Comptroller shall date his registration certificate as of the date of registration of the replacement bonds. Section 6. That all provisions of the 1978 Ordinance providing for the issuance of the series of bonds of which the Bonds were a part and which are not in conflict with this ordinance are hereby adopted by reference and shall be a part of this ordinance. Section 7. That the preparation and passage of this ordinance by the City Council and the performance of each and every, all and singular, the acts ordered hereby and all acts or expenditures incidental thereto shall be at no cost to the City and shall be borne entirely by and be the sole liability of the Owner of the lost Bonds which has requested the issuance of replacement securities as provided herein. PASSED AND APPROVED on January 23, 1990, January 30, 1990, and, passed finally, on this 6th day of February, 1990. Mayor, City of Corpus Christi, Texas ATTEST: City Secretary, City of Corpus Christi, Texas (SEAL) APPROVED AS, TO FORM: City Attorney, City of Corpus Christi, Texas ghat the foregoing ordinance was read for the first time and passed to its second reading on this the 3 day of yll,C , 19 9,0 , by the following vote: Betty N. Turner David Berlanga, Sr. Leo Guerrero Tom Hunt y Edward A. Martin Joe McComb Clif Moss Mary Rhodes Frank Schwing, Jr. That the foregoing ordinance was read for the second time and p1ssed to its third reading on this the./.1) ( day of' ,'Life it(,Lh.Cr , 19 �' , by the following vote: Betty N. Turner lL6)( , Edward A. Martin i David Berlanga, Sr. �S,e-rz<}_ �,(_. Joe McComb �t Leo Guerrero (�(I-L y • Clif Moss itil ) Tom Hunt iii I Mary Rhodes ilia . Frank Schwing, Jr. 7/ That the foregoing ordinance; was read for the third time and passed finally on this the hy', day of ( r ,, rti2 f�, 19' fl , by the following vote: Betty N. Turner (3i(. i,� Edward A. Martin David Berlanga, Sr. Leo Guerrero Tom Hunt 'Y( ✓" Joe McComb Clif Moss Mary Rhodes Frank Schwing, Jr. PASSED AND APPROVED, this the day of ATTEST. fY41 i City ecretary MAYOR IjPPRO ED. Z AYOF;;;1‘44-42.") City Attorney 99.046.01 r (L� y (ts-r , 19) ( THE CITY OF CORPUS CHRISTI, TEXAS