HomeMy WebLinkAboutMinutes City Council - 06/11/1968 - SpecialMINUTES
CITY OF CORPUS CHRISTI, TEXAS
SPECIAL COUNCIL MEETING
June 11, 1968
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 MOD niel
W. J. Roberts
City Manager R. Marvin Townsend
City Attorney I. M. Singer
City Secretary T. Ray Kring
Mayor Jack R. Blackmon called the roll of those in attendance.
Mayor Blackmon announced the purpose of the special meeting was for
receiving proposals on the sale of $2,500,000 General Improvement Bonds, Series
1968, and for the transaction of any other business as may properly come before
the Council.
Proposals were opened by City Secretary T. Ray Kring, and read by-Fis-
cal
yFis-
cal Agent,M.E. Allison, on the sale of $2,500,000 General Improvement Bonds,
Series 1968, from.the following firms: Halsey, Stuart & Company, Inc., & Asso-
ciates; First National City Bank, Nev York & Associates; Harris Trust & Savings
Bank, & Associates of Chicago; Continental Illinois National Bank & Trust Company
of Chicago and. Associates; First National Bank in Dallas & Associates; Morgan
Guaranty Trust Company of New York & Associates; Rowles, Winston & Co., Inc. &
Associates; John Nuveen & Co., Inc., & Associates; Lehman Brothers & Associates;
Republic National Bank of Dallas, & Associates; Mercantile Trust Co., N.A. & Asso.
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 Harris Trust and Savings Bank, Chicago, and Associates, at an effective
interest rate of 4.539,9%. (Bid Tabulation #19-68)
Motion by Roberts, seconded by McDaniel and passed, that the sale of
$2,500,000 General Improvement Bonds, Series 1968, be awarded to Harris Trust
and Savings Bank, Chicago, & Associates.
City Manager Townsend presented for the consideration of the Council
an ordinance. The Mayor presented to the Council a communication in writing
pertaining to said proposed ordinance, as follows:
Minutes
Special Council Meeting
June 11, 1968
Page 2
"Corpus Christi, Texas
June 11, 1968
" TO TSB CITY COUNCIL
CORPUS CHRISTI, TEXAS
Gentlemen:
The public importance and pressing need for the permanent improvements
to he constructed by use of the proceeds of the bonds voted at elections held on
October 6, 1956, January 28, 1961, June 27, 1964 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 therefore request that the City Council pass the pro-
posed ordinance authorizing the issuance of 22,500,000 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,
/8/ Jack R. Blackmon,
Mayor."
Commissioner M&Daniel 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 Sizemore, The
motion was carried by a nnanimoua vote by the City Council, viz:
AYES: Commissioners Bradley, Jimenez, Lozano, McDaniel, Roberts and
Sizemore.
NOES: None.
The Mayor requested that the records show that he voted Aye. This vas
done.
Commissioner Roberts moved that the ordinance be passed finally. The
motion was seconded by Commissioner Bradley. The motion was carried by the follow-
ing vote:
AYES: Commissioners Bradley, Jimenez, Lozano, McDaniel, Roberts 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
June 11, x.968
Pae 3
ORDINANCE NO. 8899
BY THE CITY COUNCIL OF TEM CITY OF CORPUS CHRISTI, TEXAS, PROVIDING FOR THE
ISSUANCE OF $2,500,000 CITY OF CORPUS CHRISTI, TEXAS, GENERAL IMPROVEMENT BONDS,
SERIES 1968, BEARING INTEREST AT THE RATES HEREINAFTER SET FQRTR, AND PROVIDING
FOR TRE LEVE', ASSESSMENT AND COLLECTION OF A TAX SUFFICIENT TO PAY THE QST.
ON SAID BONDS AND TO CREATE A SINKING FUND FOR THE REDEMPTION THEREOF AT MATURITY;
REPEALING ALL ORDINANCES IN CONFLICT HEREWITH AND DECLARING ANEMERGENCY.
There being no further business to come before the Council, the Special
meeting was adjourned.
THE STATE . OF TEXAS
COUiv Y , OF NUECES
NOTICE OF SPECIAL MEETING
-CITY OF CORPUS CHRISTI b
TO THE NEMB:iE.S OF THE CITY COUNCIL, THE.CITY . MANAGER, THE CITY
SECRETARY ADD TP7 CITY ATTORNEY TO TEE CITY OF CORPUS CHRISTI, TEXAS:
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 Corpus
Christi, Texas, in the Council Chamber of the City Hall, at 11:00 o'clock,
on the llth day Of June
19 68, for the purpose of
receiving proposals for the sale of $2,500,000 General Obligation Bonds, and
for the transaction of any other business as may properly come before the
Council.
41.
DATED this the Uth day o±Y
une
,1968.
CONST
tto
K R. BLA •- si , MAYOR
ty of Corpus Christi, Texas'
MEETING
We, the undersigned members of the City Council, the City Manager,
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
ed.
DICK BRADLEY
GAD-
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COi IraSSIONii
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