HomeMy WebLinkAbout01694 ORD - 07/08/1944AN ORDINANCE
BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS, AUTHORIZING THE ISSUANCE OF BONDS IN THE
PRINCIPAL SUM OF ONE HUNDRED TWENTY-FIVE THOUSAND
DOLLARS ($125.000.00) FOR THE PURPOSE OF PURCHASING
SITES AND BUILDING FIRE STATIONS AND ACQUIRING FCR
THE CITY FIRE DEPARTMENT FIRE APPARATUS, EQUIPMENT,
VEHICLES AND ACCESSORIES; AND PROVIDING FOR THE LEVY.
ASSESSMENT AND COLLECTION OF TAE SUFFICIENT TO PAY
THE INTEREST AND CREATE A SINGING FUND FOR REDEMPTION
OF SAID BONDS; PRESCRIBING THE FORM OF BOND; AND
DECLARING AN EMERGENCY,
WHEREAS. on the 25th day of April, 19li4, the City Council
of the City of Corpus Christi; passed an ordinanoe calling an election
to be held in the City of Corpus Christi, Texas. on the 20th day of
May 1944, on the question of the issuance of One Hundred Twenty -five
Thousand Dollars ($125,000"00) Fire Department Improvement Bonds and
the levy of a tax in payment thereof; and
WHEREAS" said election was duly and legally held in the City
of Corpus Christi, Texas, on the 20th day of May, 1914. at which
election a majority of the legally qualified electors, owning taxable
property in said City and who had duly rendered the same for taxation,
voting at said election, sustained the proposition to issue the bonds
hereinafter described by the following votes
"FORTES ISSUANCE OF FIRE DEPARTMENT IMPROVEMENT
BONDS" 855 Votes
"AGAINST THE ISSUANCE OF FIRE DEPARTMENT IMPROVE -
MENT BSS" 267 Votes
Majority "FOR THE ISSUANCE OF FIRE DEPARTMENT IMPROVE-
MENT BONDS" 588 Votes
as is reflected in the election returns heretofore filed with the City
Secretary.
"1' I(0C14
NON, THEREFORE. BE IT OBD0INED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI:
SECTION 1. That the bonds of said City to be called " City
of Corpus Christi Fire Department Bonds, Series 1944" be issued under
and by virtue of the Constitution and Laws of the State of Texas and
the Charter of said City for the purpose of purchasing sites and building
fire stations and acquiring for tha City Fire Department fire apparatus,
equipment, vehicles and aooesaoriea in and for said City to the prin-
oipal sum of One Hundred Twenty -five Thousand Dollars ($125.000.00).
SECTION 2. That said bonds shall be numbered oonseoutively
from one (1) to one hundred twenty -five (125) both inclusive, and
shall be of the denomination of One Thousand Dollars (1,000.00) each,
aggregating One Hundred and Twenty -five Thousand Dollar. ($125,000.00)
SECTION 3. That they shall be dated the first day of June,
1944, and atoll become due and payable aerially as follows'
N0.
DATE OF MATURITY AMOUNT
1 to 4 Incl. June 1, 19145 $ 4,000.00
5 to 8 ° 1946 4.0o0.00
9 to 12 °. 1947 4 000.00
13 to 16 " - 1948 14000.00
17 to 20 - 1949 4,000.00
21 to 25 1950 5,000.00
26 to 30 7 " 1951 5,000.00
31 to 35 " " 1952 5,000.00
36 to 40 " " 195 5,000.00
1. to 45 e " 19514 5,000.00
46 to 50 " 1955 5,x.00
51 to 55 7 " 1956 5,000.00
56 to 60 7 " 1957 5,000.00
61 to 65 " " 1958 5,000.00
66 to 70 " 1959 5,000.00
71 to 75 196o 5,000.00
76 to 80 " 1961 5,000.00
81 to 85 " 1962 5,000.00
86 to 90 1963 5,000.00
91 to 95 1961, 5,000.00
96 to 101 1965 6,000.00
102 to 107 1966 _ 6,000.00
108 to 113 " 1967 6,000.00
114 to 119 1968 6,000.00
120 to 125 " 1969 6,000.00
SECTION 4. That they shall bear interest at the rates as
follows, Bonds maturing on June 1, 1945 to June 1, 1962, both inclusive.
two and one -half per cent (2b,) interest per annum:: Bonds maturing June
let, 1963 to June 1, 1969, both inclueive, two and one -fourth per cent (2}1)
interest per annum. Interest shall be payable June let, 1945.
and eemi- annually thereafter on the first day of June and the
first day of December of each year.
SECTION 5. That the principal and interest of said series of
bonds shall be payable upon the presentation and surrender of bond or
proper coupon at the office of the Corpus Christi National Bank, Corpus
Christi, Texas.
SECTION 6. That each of said bonds shall be signed by the
Mayor, countersigned by the City Secretary and registered by the City
Treasurer, and the oorporate seal of the City of Corpus Christi. Texas,
shall be impressed upon each of them.
SECTION 7. That the facsimile signatures of the Mayor and City
Secretary may be lithographed, engraved or printed on the coupons
attached to said bonds, and said facsimile signatures shall have the
same effect as if they had been executed manually by said officials.
SECTION 8. The form of said bonds shall be substantially as
follower
NO. $1,000.00
UNITED STATES OF AMERICA
STATE. OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI
CITY OF CORPUS CHRISTI, TEXAS, FIRE DEPARTMENT
BOND, SERrS 1944
The City of Corpus Christi, in Rueoes County, State of
Texas, a municipal corporation, duly incorporated under the
laws of the State of Texas, for value received hereby promiees
to pay to the bearer hereof on the first day of June, 19
the sum oft
ONE THOUSAND DOLLARS
in lawful money of the United States, with interest thereon from
date hereof at the rate of ( ,4).
per cent per annum, interest payable June 1st, 1945, and semi-
annually thereafter on the first day of June and the first day of
December of each year, both principal and interest payable upon
presentation and surrender of bond or proper coupon at the office
of Corpus Christi National Bank, Corpus Christi, Texas. This
City of Corpus Christi is hereby held and firmly bound, and its
faith and credit and all taxable e- property in said City are here-
by pledged for the prompt payment of the principal of this bond
at maturity and the interest thereon as it accrues.
This bond is one of a series of one hundred and twenty -five
(125) bonds numbered consecutively from one (1) to one hundred and
twenty -five (125) both inclusive, each being in the denomination
of One Thousand Dollars ($1,000.00), aggregating One Hundred Twenty -
five Thousand Dollars ($125.000.004 each issued by the City of Corpus
Christi for the purpose of purchasing sites and building fire stations
and acquiring for the City Fire Department fire apparatus, equipment
vehicles and accessories in and for said City, under and by virtue
of the Constitution and laws of the State of Texas and the Charter
of eaid City, pursuant to an ordinance passed by the City Council
of the City of Corpus Christi, which Ordinance is of record in the
minutes of said City Council. All of said bonds are of like tenor
and effect.excapt as to interest rate and maturity date.
The date of this bond, in conformity with the ordinance above
mentioned, is the first day of dune, 1944.
AND IT I8 HEREBY CERTIFIED AND RECITED that the issuance of this
bond, and the series of which it is a part, is duly authorised by law
and by a vote of the resident qualified electors who own tamable pro-
perty in said City and who had duly rendered the same for taxation
in the City of Corpus Christi, Texas, voting at an election held for
that purpose within said City on the 20th day of Nay, 1944; that all
acts, conditions and things required to be done precedent to and in
the issuance of this series of bonds, and of this bond, have been
properly done and performed and have happened in regular and due time,
form and manner, as required by law; that sufficient and proper pro-
vision for the levy and collection of taxes has been made, which, when
collected, shall be appropriated exclusively to the payment of this bond
and of the series of which it is a part, and to the payment of the
interest coupon hereto annexed,, as the same shall become due; that the
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SECTION 10e Substantially the following aortifioate
shall be printed oa the back of eaoh bonds
OFFICE OF COMPTROLLER
BUTE OF TEARS
I HEREBY CERTIFY that there in on file and of record in
my office a certificate of the Attorney - General of the State of
Teas to the effect that this bond has been examined by him as
required by lam, and that he Mule that it has been issued in
conformity with the Constitution and laws of the State of Teas
and the Charter of said City, and that it is a valid and binding
obligation upon said City of Corpus Christi, Teas, and said bond
has thin day been registered by me.
WITNESS NY HAND AND SEAL OF OFFICE at Austin, Teas. thin
the _ day of • 19 •
Domptroller of Publio Accounts of
the State of T E X A S.
SECTION 11. That a special fund. to be designated "City of
Corpus Christi Fire Department Ronde, Series 19144., Sinking Fond° shall
be created. and is hereby oreated, and the proceeds of all tame oolleoted
for and an account of this eerier of bonds shall be credited to said fund
for the redemption of Said bonds and interest thereon at maturity; and
said fund shall be used for no other purpose; that to create said fund
a tax of One and Seven- tenths Cents (1.7) an the one hundred dollar
(0100.00) valuation of taxable property in the City of Corpus Christi
is hereby levied for the year 1911; and for each year thereafter while
any of said bonds or interest are unpaid, and at the time other City
taxes are levied during said yearn there shall be oomputed and ascertained
what rate of tax, based upon the latest approved tax rolls of said City.
will be necessary, requisite and sufficient to fully make, raise and
produce in each of midyears the current interest and the required amount
of the principal for such year, or a proportionate part thereof, and a
tax at such rate within the permitted rate of Two Dollars and Fifty Cents
02.50) on the one hundred dollars (0100.00) valuation .ball be levied,
assessed and Collected during each of said years, and said
tax is hereby levied and ordered to be aeeeeeed and collected.
'and that the taxes oolleoted shall be applied to said purpose
and to no other purpose.
8ECTI0R 12. Be it further ordained that A. 0. McCaughan,
Mayor of said City, .hall be authorized to tale and have Charge
of all necessary records and the bonds, pending investigation by
the Attorney - General and regietratian by the Comptroller of Public
Accounts.
SECTIOR 13. The fact that the contemplated improvements to
the Fire Department are necessary immediately by reason of the
unprecedented growth of the City of Oorpce Christi and for the
orderly development and growth of the City of Corpus Christi creates
a public emergency and an imperative public necessity requiring the
e uspeaeion of the Charter Rule providing that no ordinance or Reeo-
lstion shall be passed finally an the date it ie introduced, and
that such Ordinance ar Resolution shall be read at three several
meetings of the City Council, and, the Mayor having declared that
such pnblio emergency and imperative necessity exist, and having
requested that said Charter Rule be suspended, and that this Ordinance
tale effeot and be in full force and effect from and after its passage,
IT IN ACCORDINGLY 80 ORDAINED.
PASSED AND APPROVED this the sf day of
ATTEST:
City /
story L 1 -
APPROVED AS TO I°G8I FORIC/
-7-
MAYOR. City of Corpus Christi, Texas
TO THE REBUS OF THE CITY CODUCIL
,OF THE CITY OF. CORPUS CHRISTI.
Corpus Christi. Tease
CentlemenI
Corpus Christi. Texas
For the reasons set forth in the emergency clause.
Section 13, of an Ordinance entitled °An Ordinance by the City
Council of the City of Corpus Chrieti. Terse, authorizing the
issuance of bonds in the principal emus of One Hundred Twenty -five
Thousand Dollars ($1250000.00) For the Purpose of Purchasing
Sites and building Fire Stations and acquiring for the City Fire
Department Fire Apparatus, equipment, vehicles and aeceseorieet
and providing for the levy. assessment and oolleotion of a tax for
redempption of said the Bonds preeo fund er
ribing the form of Boned and
Deolaring an Emergeneyep I hereby declare that a public tus Ordinance
exists requiring that the Charter Rule providing
or Resolution shall to passed finally an the date it is introdu°ed,
so that it shall take effect and be in full force and effect from
and after its passage.
Yours very truly,
M4YOR, City of Corpus Christi.
T e m a 0.
The Charter rule sae suspended by the following vote.
A. 0. McCaughan
Jos. Mirour
Ed. P. Williams
D. A. Segreet
St G. Moffett
The above Ordinance use passed by ollawing votes
A. 0. McCaughan
Joe. /drone
Ed. P. Gilliam.
D. A. Segreat
B. G. Moffett
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