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Home My WebLink AboutMinutes City Council - 04/19/1972 - SpecialMINUTES CITY OF CORPUS CHRISTI, TEXAS SPECIAL COUNCIL MEETING April 19, 1972 11:00 A. M. PRESENT: Mayor Ronnie Sizemore Mayor Pro Tem Chas. A. Bonniwell Commissioners: Roberto Bosquea, M.D. City Manager R. Marvin Townsend Thomas V. Gonzales City Attorney ,;aures R. Riggs Gabe Lozano, Sr. City Secretary T. Ray Kring J. Howard Stark Mayor Ronnie Sizemore called the meeting to order and announced the purpose of the special meeting was for receiving proposals on the sale of $4,806,000 City of Corpus Christi General Improvement Bonds, Series 1972, and the transac- tion of any other business as may properly come before the Council. He asked that it be noted that a quorum of the Council and required Charter Officers Were present to hold a valid meeting. Proposals were opend and read by Director of Finance Harold F. Zink, an the sale of $4,806,000 General Obligation Improvement Bonds, Series, 1972, from the following firms: Harris Trust & Savings Bank (The Northern Trust Company; The First Boston Corporation; The First National Bank of Fort Worth; Eastman Dillon, Union Securities & Co.; Shearson, Hammil & Co., Inc.; A. G. Becker & Co., Inc.; First City National Bank of Houston; and Van Kampen Wauterlek & Broom, Inc.); John Nuveen & Co., Inc.(Rowles, Winston & Co., Inc.; Underwood Neuhaus & Co., Inc.; Corpus Christi State National Bank; and Rauscher Pierce Securities Corp.); Lehman Brothers, Inc. (Phelps, Fenn & Co.; Goldman, Sach & Cc.; Shields & Co.; and L.F. Rothschild & Co.); First National Bank in Dallas (Merril Lynch, Pierce, Fenner & Smith, Inc.; Hornblower & Weeks -Hemphill, Noyes; First National Bank of Miami; Girard Bank - Philadelphia; Fort Worth National Bank; Paine, Webber, Jackson & Curtis; Texas Commerce Bank N.A.; E. F. Hutton & Co., Inc.; and McKinney, Rpse & Co., Inc.); Continental Illinois National Bank & Trust Company of Chicago (R. W. Pressprich & Co., Inc.; Stone & Webster Securities Cofp.; First National Bank in St. Louis; Reinholdt & Garner; Prescott, Merrill, Turben & Co.; Bank of the South- west, N.A.; A. S. Hart & Co., Inc.; Coughlin & Co., Inc.); Goldman, Sachs & Co.; First National City Bank (Bankers Trust Company; First National Bank of Chicago; Reynolds Securities, Inc.; Industrial National Bank of Rhode Island; W. H. Morton & Co. - Div. of Amer. Sec.; Wells & Christensen, Inc.); Republic National Bank of Dallas, Mercantile National Bank at Dallas;(Rotan, Mosle-Dallas Union, Inc.; Texas Bank & Trust Co. of Dallas; White, Weld & Co., Inc.; First of Texas, Inc.; • Minutes Special Council Meeting April 18, 1972 Page 2 CBWL-Hayden, Stone; Dominick & Dominick, Inc.; City National Bank & Trust Co.; and Stern Bros. & Company); and Morgan Guaranty Trust Company of New York. The foregoing proposals were referred to the Director of Finance Harold F. Zick for tabulation and recommendation, and a brief recess was declared for this purpose. The meeting was reconvened and Director cf Finance Zick reported that the low bid had been received from Harris Trust & Savings Bank, Chicago Illinois at an effective rate of 5.0416 % (Bid Tabulation #1-72). Mayor Ronnie Sizemore presented for the consideration of the Council an ordinance. The Mayor presented to the Council a communication in writing per- taining to said proposed ordinance, as follows: "TO THE CITY COUNCIL CORPUS CHRISTI, TEXAS Gentlemen: "Corpus Christi, Texas April 18, 1972 "The public importance and pressing need for the permanent improvements to be constructed by use of the proceeds of bonds contemplated to be issued pur- suant to an ordinance 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 proposed ordinance authorizing the issuance of bonds as an emergency measure. You will please consider this request in con- nection with the ordinance which is to be introduced for passage by the City Council on this subject. "Yours very truly, /8/ Ronnie Sizemore Mayor" Commissioner Bosquez moved that the Charter provision prohibiting ordin- ances 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 Lozano. The motion was carried by an unanimous vote by the City Council, viz: AYES: Commissioners Bonniwell, Bosquez, Gonzales, Lozano and Stark. AYES: None. The Mayor requested that the records show that he voted Aye. This was done. Commissioner Bonniwell moved that the ordinance be passed finally. The motion was seconded by Commissioner Lozano. The motion was carried by the r, , Minutes April 18, 1972 Special Meeting Page 3 following vote: AYES: Commissioners Bonniwell, Bosquez, Gonzales, Lozano and Stark. 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. 10801 BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS, PROVIDING FOR THE ISSUANCE OF $4,$06,000 CITY OF CORPUS CHRISTI, TEXAS, GENERAL IMPROVEMENT BONDS, SHR/HS 1972, 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 BONpS AND TO CREATE A SINKING FUND FOR THE REDEMPTION THEREOF AT MATURITY; REPEAL* ING ALL ORDINANCES IN CONFLICT HEREWITH AND DECLARING AN NMERGENCY. There being no further business to come before the Council, the Special Meeting was adjourned at 11:45 A.M. , April the 19th,, 1972. THE STATE OF TEXAS COUNTY OF NUECES NOTICE OF SPECIAL MEETING CITY OF CORPUS CHRISTI X 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 19th day of April , 1972 for the purpose of receiving proposals for the sale of $5,596,000 General Obligation Improvement Bonds, and for the transaction of any other business as may properly come before the Council. DATED this the 19th day of �� , 19 72 OF RONNIE SIZEMI' May 4010 City of Corpus Chris exas 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 place therein named and for the purpose therein sta)ed. i ROBERTO BOSQUEZ, M.D., CodfmissiXner'\ REV. HAROLD T. BRANC., Commissioner fc THOMAS GONZALES CHA 010."1�� ONNIWELL, Mayor Pro Tem GAB' �•ZAN0 oner S R. RIGGS, ty A ,4 e ommissioner HDWARD STARK, Commissioner Aer R. MARVIN T Y KRING� END, City Manger T. RA ity ( k ecreta ry