HomeMy WebLinkAboutMinutes City Council - 06/17/1970 - SpecialPRESENT:
Mayor Jack R. Blackmon
Mayor Pro Tem Gabe Lozano
Commissioners:
Dick Bradley, Jr.
Ken McDaniel
W. J. Roberts
Ronnie Sizemore
MINUTES
CITY OF CORPUS CHRISTI, TEXAS
SPECIAL COUNCIL MEETING
June 17, 1970
11:00 A.M.
City Manager R, Marvin Townsend
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 $4,500,000 City of Corpus Christi, Texas, General
Improvement Bonds, Series 1970, and for the transaction of any other business as
may properly come before the Council.
Bids were opened by City Secretary T. Ray Kring, and read by Director
of Finance, Harold Zick, on the sale of $4,500,000 City of Corpus Christi, Texas
General Improvement Bonds, Series 1970, from the following firms: John Nuveen & Co.,
Inc.; Republic National Bank of Dallas; First National Bank in Dallas; Morgan
Guaranty Trust Co. of New York & Associates; Harris Trust & Savings Bank, Chicago;
Lehman Brothers; Hibbard, O'Connor & Weeks, Inc.; First National City Bank; (Alternate
No. 2, Optional); John Nueven & Co., Inc., First National Bank in Dallas; and
Lehman Brothers; (Alternate No. 1, Non -Optional).
The foregoing bid proposals were referred to Director of Finance Harold
Zick for tabulation and recommendation.
Mayor Blackmon declared a brief recess to await tabulation of the fore-
going bids.
The meeting was reconvened, and Director of Finance Harold Zick reported
that the low bid had been received from John Nuveen & Co., Inc., & Assoc. at an effective
interest rate of 6.5442%. (Bid Tabulation #17-70)
Mayor Blackmon 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:
"Corpus Christi, Texas
June 17, 1970
"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
Minutes
Special Council Meeting
June 17, 1970
Page 2
an ordinance createian 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 proposed ordinance authorizing 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 this subject.
"Yours very truly,
/s/ Jack R. Blackmon,
Mayor."
Commissioner Sizemore 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 Roberts. The
motion was carried by a unanimous vote by the City Council, viz:
AYES: Commissioners Bradley, Lozano, McDaniel, Roberts and Sizemore.
NAYS: None.
The Mayor requested that the records show that he voted Aye. This was
done.
Commissioner Bradley moved that the ordinance be passed finally. The
motion was seconded by Commissioner Lozano, The motion was carried by the following
vote:
done.
AYES: Commissioners Bradley, Lozano, McDaniel, Roberts and Sizemore.
NAYS: None.
The Mayor requested that the records show that he voted Aye. This was
The Mayor announced that the ordinance had been passed. The ordinance
is as follows:
ORDINANCE NO. 9796
BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS, PROVIDING FOR THE ISSUANCE
OF $4,500,000 CITY OF CORPUS CHRISTI, TEXAS, GENERAL IMPROVEMENT BONDS, SERIES 1970,
BEARING INTEREST AT THE 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.
There being no further business to come before the Council, the Meeting
was adjourned.
THE STATE OF TEXAS
COUNTY OF NUECES
NOTICE OF SPECIAL MEETING
CITY OF CORPUS CHRISTI
TO THE MEMBERS OF THE CITY COUNCIL, THE CITY MANAGER, THE CITY
SECRETARY AND THE CITY ATTORNEY TO THE 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, A. M., on the 17th day of June
19 70 for the purpose of receiving proposals for the sale of $4,500,000 City of
Corpus Christi, Texas General Improvement Bonds, Series 1970, and for the trans-
action of any other business as may properly come before the Council.
DATED this the 17th day of
June
,1970.
ACK R. LACKMON, Mayor
City of Corpus Christi, Texas
CONSENT TO 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 'lace therein named and for
h=�urp►Ze therein stated.
DICK BRADLEY, !`R. Commissioner
Commissioner
, Mayor Pro Tem
e
N E IZEMORE. C