HomeMy WebLinkAboutMinutes City Council - 09/07/1967 - SpecialMINUTES
CITY OF CORPUS CHRISTI, TEXAS
SPECIAL COUNCIL MEETING
September 7. 1967
11:00 A.M.
PRESENT;
Mayor Jack R. Blackmon
Mayor Pro Tem Ronnie Sizemore
Commissioners;
Dick Bradley, Jr.
Dr. P. Jimenez, Jr.
Gabe Lozano, Sr.
Ken McDaniel
W. J. Roberts
City Manager Herbert W. Whitney
City Attorney I. M. Singer
City Secretary T. Ray Kring
Mayor Jack R. Blackmon called the meeting to order.
City Secretary T. Ray Kring called the roll of those in attendance.
Mayor Blackmon announced the purpose of the special meeting was for
receiving proposals on the sale of $3,550,000 General Improvement Bonds, Series
1967, and for the transaction of any other business as may properly come before
the Council.
Proposals were opened and read on the sale of $3,550,000 General Im-
provement Bonds, Series 1967, from the following; First National Bank in Dallas
and Associates; Bowles, Winston & Co., and Associates; Harris Trust and Savings
Bank, Chicago, and Associates; Mercantile National Bank at Dallas (Joint Mgr.)
Republic National Bank (Joint Manager) & Associates; John Nueveen & Co., Inc. and
Rauscher Pierce & Co., Inc., Joint Mgrs.; First National City Bank, New York &
Associates; Morgan Guaranty Trust Company of New York, and Associates; Lehman
Brothers and Associates; Continental Illinois National Bank and Trust Company of
Chicago & Associates; Halsey, Stuart & Co., Inc., & Associates.
The foregoing proposals were referred to Director of Finance Harold Zick
for tabulation and recommendation, and a brief recess was declared for this purpose.
Mayor Blackmon reconvened the meeting.
Director of Finance Zick reported that the low bid had been received from
First National Bank in Dallas, Texas, at an effective interest rate of 4.06081%.
(Bid Tabulation #67-38
City Manager Whitney presented for the consideration of the Council an
ordinance. The ordinance was read by the City Secretary. The Mayor presented
to the Council a communication in writing pertaining to said proposed ordinance,
as follows;
Minutes
Special Council Meeting
September 7, 1967
Page 2
"Corpus Christi, Texas
September 7, 1967
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 the bonds voted at elections held on
June 27, 196+ and January 28, 1967, create an emergency and an imperative public
necessity requiring the suspension of rules and Charter provisions requiring
ordinances to be considered and voted upon at three regular meetings. I, there-
fore request that the City Council pass the proposed ordinance authorizing the
the issuance of $3,550,000 General Improvement Bonds as an emergency. You will
please consider this request in connection with the ordinance which has been
introduced in the City Council on this subject.
"Yours very truly,
/s/ Jack R. Blackmon
Mayor."
Commissioner Roberts moved that the Charter provision prohibiting
ordinances from being passed finally on the date introduced be suspended for the
reasons stated in the written request of the Mayor and stated in the emergency
clause of the ordinance. The motion was seconded by Commissioner McDaniel. The
motion was carried by a unanimous vote by the City Council, viz:
AYES: Commissioners Bradley, Roberts, Jimenez, Lozano, McDaniel and
Sizemore,
NOES: None.
The Mayor requested that the records show that he voted Aye. This was done.
Commissioner Sizemore moved that the ordinance be passed finally. The
motion was seconded by Commissioner Lozano. The motion was carried by the follow-
ing vote:
AYES: Commissioners Bradley, Roberts, Jimenez, Lozano, McDaniel and
Sizemore.
NOES: 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:
Minutes
Special Council Meeting
September 71, 1967
Page 3
ORDINANCE BO. 8594
BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS, PROVIDING FOR THE
ISSUANCE OF $3,550,000 CITE' OF CORPUS CHRISTI, TEXAS, GENERAL IMPROVEMENT BONDS,
SERIES 1967, BEARING INTEREST AT TB RATES HEREINAFTER SET FORTH, AND PROVIDING
FOR THE LEVY, ASSESSMENT 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.
Thee being no further business to come before the Council, the Special
meeting was adjourned,
THE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI ;
NOTICE OF SPECIAL .P+TING
TO THE ; ,rvB S OF THE CITY COUNCTr-, Vii, ; CITY MANAGER, TIM C I T.t:
SECRETARY AND THE CITY ATTORI E'Y TO THE CITY OF CORPUS CHRISTI, AS
NOTICE is hereby given that a special meeting of the City Council
of the City of Corpus Christi, Texas, will be held in the City of Compus
Christi, Texas, in the Council Chamber of the City Hall, at 11:00 o'clock,
A:LH., on the 7th day of September , 1967, for the purpose of
receiving proposals for the sale of $3,550,000 General Improvement Bonds, and
for the transaction of any other business as may properly come before the
Council.
DATED this the 7th day of September ,.19 67 .
foito
JACK R. BLACKMON, MAYOR
City of Corpus Christi, Texas
CONST_JJT TO Iii:,"LING
We, the undersigned members of the City Council, the City Wager,
the City Secretary and the City Attorney to the City of Corpus Christi,
Texas, hereby accept service of the foregoing .notice, waiving any and all
irregularities in such service and consent and agree that said meeting
shall be at the time and place therein named and for the purpose therein
stated.
DICK Bt
COMMISSIOIIER RO E \S'_2 ,t
ONMISSIONER
GABS
iv�ISSION
1. M. S`TNG�
ATTORAEY
. RAY KLING, C ' y Sec: e tary