HomeMy WebLinkAbout01753 ORD - 12/18/1944- THE STATE OF TEBAS )
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COUNTY OF HCEGES )
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CITY OF CORPUS CHRISTI) -
NOTICE OF SPECIAL IdYMEI IG OF THE CITY COUNCIL
Notice is hereby given to the members of the City Council, the
City Secretary, and the City Attorney of the City of Corpus Christi,
Texas, Of a special meeting of the Council to be held in the City Hall '.
at 1000 a.m., Monday, December 18, 1944, for the purpose of consider-
ing the passage of an ordinance authorising the issuance of *2,500,000.00
of State Aid Seawall and Breakwater Bonds as heretofore authorized at an
election held on the 25th day of November, 1944, sad to take such other
action in reference to said issue of bonds me may be necessary or con-
venient and to transact routine business of tam City Council.
This notice is given this the 18th dayof December, 194.
A. C. Mc0aughan (Signed)
WOE, of Corpus Christi, Texas
I hereby certify that 2 have received copy of the notice of
special meeting of the City Council called for December 18, 19L�1, vdaioh
copy was either served upon me personally or was left' at my usual place
of abode, and that said notice was so served upon ,:. prier to said �ct-
ing on December 18, 19"
Jps. nrlreur
Segrest
Comsu.ssicuers
T. R.-F, ring
CITY Score arf
'" I, if. Singer
Ci Ktt orney
THE STATE OF T?.XAS )
COUNTY OF NUECES - )
CITY OF CCU �S CHRISTI)
T -the undersigned, City Secretary of the City of Corpus Christi,
Texas, de hereby oertify that the above and foregoing is a true, full and
correct copy of a notice of special meeting of the City Council, calling
said special meeting ea December 18, 194, the original of which is among
the records of my office..
aiTiTilrdS3 & HAiSD and seal of off, this 20,11 d of December,
191ly.
U),-.y Secretary, .i v o orpus- eras
Te'x as
jq 93
.'<
THE STATE OF 'INX05
ca;RTY OF rUcxs ,
CITY CF CORPUS CHRISTI
On 18th this the _day of December, I944„ the City Council i
of the City of Corpus Christi, Texas, convened in special meeting,
with the following members of said Council present, to —wit:
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A. C. McCaughan, kayor,
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Joseph Mireur,
B. G. Moffett, Commissioners,
D. A. Segrest,
T. R; &ring, City Secretary,
with the following abeam: S. P. Williams , conatitutinS a quorum, ?t
which time the following business was transacted:
Lr. Joseph Mireur nresented for the consideration
of the Council au ordinance.
The Mayor presented to the Council a communication in writing
I pertaining to said propossd ordinance, as follows:
"Corpus Christi, Texas,
December 18 . 1944.
To the City Council - -
Corpus Christi, Texas.
Uentlemen:
1
For the reason set forth in the emergency clause, Section
15 of an Ordinance entitled, 'An Ordinance authorizing the issuance of
bonds for the principal sum of 01000,000.00 for the purpose of constructing
seawalls and breakwaters, or either, to be located wholly within the City
Limits of the City of Corpus Christi, so as to protect said City from
calamitous overflows, making provision for the payment of principal and
interest on said bonds and declaring an emergency,' I hereby declare that
a public emergency exists requiring that the Charter Rule providing that
no Ordinance or resolution shall be passed finally on the date it is
introduced, except iu cases of public emergencies, be suspended and I
hereby request that said Rule be suspended and that said Ordinance be passed
finally on the date it is introduced so that it shall take effect and be in -!
full force and effect from and after its passage. -
Yours very trul
f
A. C. &cCaughan, !:afore.
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t
s
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Mr, Mireur made a motion that the Charter provisions
prohibiting ordinances from being finally passed 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
Mr. Moffett and was carried by unanimous vote of the Council, viz:
kYrS: Commissioners Mireur, Moffett and Segrest
MAYS: None
;,Y,HNT Mr. Williams
Mr. Segrest_ _ made a motion that the ordinance be passed finally.
The motion was seconded by Commissioner .Moffett and was carried by
unanimous vote of the Council, viz:
AYES: Commissioners Hireur, X=2=, Moffett and Segrest
NAYS: None
ADS NT• Mr. Williams
The iaayor requested to be recorded as voting "lye," which was done.
The Mayor announced that the Ordinance bad passed. The ordinance
is as follows:
AN CRDINANCF.
kUTHuRlZIa THE ISSUANCE OF BC;TI)S FOR THE PRINCIPAI
SUT� OF $'+1,500,000.00 FOR THE PURPOSE OF CCNSIRUCTING
S'+E m. ,IS AND &'2Frll'4FAT' OR EITHLR, TC BE LOCATED . _
-:FOLLY iIITHIY Th—° CITY LIItITS OF TAE CITY OF COI—IUS
CEBLSTI, so as to protect said city from calamitous
OV7RFUNS, Mk%LNG PROVISION FOh THE PATALDJT OF P2LVCT' ?AL.
AND IIdT&MT ON SaID BOIZS : ND DICURING i• -iG &'fu.G INCY.
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oHERI 5, the 35th Legislature of the State of Texas, at its Regular
Session in 1917, passed an fact, designated Chapter 116 of the General Laws,
donating and granting to the City of Corpus Christi the net amounts of the
State ad valorem taxes collected upon property and from persons in the
County of Nueces, including the railroading stock belonging to railroad 1
companies, for a period of fifteen (15) years, commencing with the fiscal year,
beginning September 1, 1917, the money thereby granted and donated to be
trust funds for the purpose of siding the City of Corona Christi in paying
the interest and sinking fund upon an issue or issues of bonds, the proceeds
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of which bonds to be used exclusively in constructing and maintaining
breakwaters, seawalls and shore protections out into Corous Christi Bay; and ii
WHEREAS, the 37th Legislature of the State of Tenn, at its
Regular Session, 1921, passed an Act, designated Chapter 138 of the General
Laws, donating and granting to the City of Corpus Christi the net amounts
of all State ad valorem taxes collected upon the property and from persons
in the Counties of Jim Wells, Jim Hogg, Brooks, 6leberg, Willacy and Duval
and all the net amounts of the State ad'valoram taxes collected upon the
Property and from persons in the County of Nueces not theretofore donated to
the City of Corpus Christi by Act of the 35th Legislature of the State of
Texas, being Chapter 116 of the General Laws, 1917, incihding such State ad
valorem taxes as may be due said counties on the railroading stock belonging
to railroad companies, for a period of twenty —five years, commencing with
the fiscal year beginning 9epteubw 1, 1921, the money thereby granted and
donated to be a trust fund for the purpose of aiding the City of Corpus Christi!
in paying the interest and sinking fund upon an issue or issues of bonds, the
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proceeds of which bonds to be used exclusively for the construction of a
seawall or breakwater so as to protect the said city from calamitous overflows;;
and
WHEREAS, the 46th Legislature of the State of Texas, at its
Regular; Session, 1939s passed an Act by House Bill Number 52 of such session,
extending the donation period provided in the Act of the 37th Legislature
for an additional ten (10) year period, making such donation end September,
1956; and
WSC;REAS, the moneys that will be derived by the City under said
donations under the present State tax rate and the present valuations of
Property in said Counties, together with the tax hereinafter levied upon the
taxable property in said City will be more than sufficient to pay the interest
and provide and maintain the sinking fund on the issue of $1,500,000.00
hereinafter provided for and authorised to be issued; and
IHER :A4, at an election dale and legally called and held in the
City,of Corpus Christi on the 25th day of November, 1944, a majority of
the qualified electors in the City of Corpus Christi, who own taxable'
a
property in said City and who had duly rendered the same for taxation voting
at said election, voted in favor of the issuance of "$1,5002000.00 Seawall l
and Breakwater Construction Bonds by a vote of 635 votes -For the ;ssuance of
the Bondsa and 48 votes " Against the Issuance of the Bonds "; and '
"MERBAS, the provisions of the Constitution of the State of Texas]
Providing that cities shall incur no debt in any manner unless provision is
made at the time of creating the same for levying and collecting a sufficient
tax to pay the interest therson and provide at 13ast two (2%) par cent as a
sinking fund, have been fully complied with under the General Laws of the
State regulating and providing for the levy and collection of taxes due the
State, under said Chapter 138, General Laws, 1921, as amended by said H. B. 52,?
passed at the Regular Session of the 46th Legislature, and under the tax Is
hereinafter made;
BE IT ORDAINED By THE U17y COUNCIL W THE CITY OF CORPUS CHRISTI„
TMS:
le That the bonds.of said City to be called -City of Corpus {
0hristi, Texas, State Aid Seawall and Breakwater Corstruction Bonds, series
1944 ", be issued under and by virtue of the Constitution and Laws of the
State of Texas, including Uhapter 138, of the General Laws passed at the Regular
Session of the 37th Legislature as amended by the 46th Legislature of the
State of Texas, at its Regular Session, 1939, House Bill No. 52, and the amity
Charter of the Uity of Corpus Christi, in the principal sum of (hie Idnion
Five Hundred Thousand 41k500,0(10.00) Dollars, for the purpose of constructing
seawalls and breakwaters, or either, to be located wholly within the city limits
Of the City of Uorpus Christi, so as to protect said Uity from calamitous
overflows.
2. That said bonds shall be numbered consecutively from One (1)
to Fifteen Hundred (1500) both inclusive, shall be of the denomination
of One Thousand (+1,000.00) Dollars each, aggregatiE One killicr Five Hundred
Thousand Dollars (01i500,000.00).
3. That they shall be dated the let day of December, 1944,
and shall become due and payable serially as follows;
BONDS NLWMS MATURITY DATES AMOUNTS -
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1 to 250, both incl., June 1, 1945, $250,000.00
251 to 500, " " June 1, 1946, 250,000.00
501 to 550, " " June 1, 1947, - 50,000.00
551 to 600, " n June 1, 1948, 50,000.00
601 to 650, " June 1, 1949, 50,000.00
651 to 700, " " June 1, 1950, 50,000.00
701 to 750, " " Jena 1, 1951, 50,000.00
751 to 850, " ° June 1, 1952, 100,000.00
851 to 1000, " " June 1, 1953,- 150,000.00
1001 to 1150," !' June 1, 1954, 150,0W•0
3.151 to 1325," " June 1, 1955, 175,000.00
1326 to 1500," " June 1, 1956, 175,000.00
4. In Bonds Nos. Seven Hundred Fifty One (751) to Fifteen
Hundred (1500), both inclusive, the City shall reserve the option of calling
each such bond for redemption prior to maturity at oar and accrued interest,
on any interest payment date on and after June 1, 1951, by giving thirty
days' notice in writing to the place of payment and by publication of such
notice in a financial publication having general circulation in New York
City. Said Notice spell appear in said publication in at least one issue,
the date of said issue being not less than thirty days prior to the date so
fimed for redemption. If any such bond is called for redemption in said manner
!� and if funds sufficient to _pay the principal and accrued interest thereof
shall have been duly placed in the bank of payment and it shall not be ;resented
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for payment it shall not thereafter bear interest.
5. That said bonds shall bear interest at the rate of Two (2%)
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per cent per annum, payable June 1, 1945 and semi. - annually thereafter on
December let arzd June 1st of each year.
6. That the principal and interest -of -said series of bonds
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shall be payable on presentation and surrender of bond or proper coupon at
"fly a Christi National Bark Cnr s_ CI-J,+9 Tnr
7. That each of said bonds shall be signed by the Mayor, i
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countersigned by the City Secretary and registered by the City Treasmror, and
the corporate seal of the City of Corpus Christi shall be impressed upon each
of them.
8. That the facsimile signatures of the k"or and City Secretary l
may be lithographed on the coupons attached to said bonds, and shall have the
same effect as if they had been signed by them.
9, The form of bonds shall be substantially as follows:
NOi
$1,000.00
UNITED STATES OF AMERICA
STATE OF TEXAS
CCUNTf OF NOCES
CITY OF CORPUS CHRISTI
STATE AID SNAWAM AND BRsAKPATER CONSTRUCTION 30ND
SERIES 1944
The City of Corpus Christi, in the County of Nueces, State of
Texas, for value received, hereby promises to pay to the bearer hereof
on the let day of June, 19_� the sum of
ONE THCUSAND DOLLARS
in lawful money of the United States of America, with interest thereon from
the date hereof at the rate of Two (2e) per cent per annum, interest payable
Jura 1, 1945, and semi - annually thereafter on the let day of December and
the 1st day of June of each year, principal and interest payable upon
presentation and surrender of bond or proper coupon at
This bond is one of a series of Fifteen hundred (1500) Bonds,
numbered from one (1) to Fifteen Hundred (1500), both inclusive, of the
denomination of One Thousand (01,000.00) Dollars each, aggregating One
iZllion Five Hundred Thousand ($1,5001000,00) Dollars, issued for the purpose
of constructing seawalls asst breakwaters, or either, to be located wholly
within the city limits of the city of Corpus Christi, 80 as to protect said
city from calamitous Bverflow, under and by virtue of the Constituticn end
r
la-.vs cf the utate of Texas, including Chai.I it 136 of the General Laws passed
by the 37th Legislature at its Regular Session., 1921: as amended by the 46th
legislature at its Regular Session, 1939, by House Dill No. 52 of such f
session, extending the donation period to September, 1956, and the City
Charter of the City of Corpus Christi, and in pursuance of an ordinance passed
by tine City Council of the City of Corpus Christi, Texas, on the day 1
Of December, 1944, which ordinance is of record in the minutes of said City
Council.
s
*{lhe City reserves the right to redeem this bond prior to maturity �
on any interest payment dote on and after June 1, 1951, by paying the par
value thereof Plus accrued interest to date fixed for payment, ay provided thirty ;
days, (30) notice in writing is given to the place of payment, and by puclicatyon
• I
G
of such notice in a financial publication having general circulation in
New York City. Said notice shall appear in said publication in at least
one issue, the date of said issue being not less than thirty (30) days prior
to the date so fired for redemption, and if this bond is cared for payment
in said manner and money is placed in said place of payment prior to
the date so fixed for redsmption sufficient to pay the principal and
interest to said date, if this bond is not so presented for payment, it
shall not thereafter bear interest).
AND IT IS F.MMy CERTIFIED AND RECITED that the issuance of this
bond and the series of which it is a part, is duly authorized by law and
by a vote of the resident qualified electors who own taxable property in
said city and who have 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 25th day of November, 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 i.
happened in regular and due time, form and manner as required by law; that
State Aid has been granted to the City of Corpus Christi for the purpose of
paying the principal and interest of said series of bonds, the State of
Texas having donated and granted to the said City the net amounts of all
state ad valorem taxes for general revenue purposes co.lected upon the
property and persons in the Coomties of Jim Nella, Jim Hogg, Brooks,
%leberg, sillacy and Duval, and all the net amount of the State ad valorem
taxes for general revenue purposes collected upon the property and persons
in the County of Nueces'not theretofore donated to said City for a period of',
twenty —five (25) years and further extended by Act of the r'orty —sixth
Legislature, Regular Session, 1939, by House Bill Number 52 of such session,
extending such donation period from Qeptember 1, 1921 to September, 1956;
that sufficient and proper provision 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 interest coupons hereto annexed as the
same shall become due; and that the total indebtedness of said Uity of
Corpus Christi, including the entire series of bords of which this is one,
does not exceed any constitutional or statutory limitation.
Z WITNESS *EER", the City of Corpus Christi, by its City
Council has caused its corporate seal to be affixed hereto, and this bond
to be signed by its Mayor, countersigned by its City Secretary, and registered
by its City Treasurer, and to interest coupons hereto attached to be
executed by the lithographed signatures of the mayor and the City Secretary;
the date of thia bond, in conformity with the ordinance above referred to
being the let day of December, 1944.
COU1,'1%RSIGR`ED:
City Secretary, City of Corpus
Christi, Texas.
Mayor, City of Corpus Chriatip Texas.
REGISTERED:
City Treasurer,
City of corpus Christi, Texas.
*(This paragraph should be omitted from bonds Nos, l.to 750, both inclusive). i
10. The form of coupons shall be substantially as follows:
I,
No._ $
CU W 1ST DAY OF
. 19
The Vity of Corpus Christi, Texas, will pay to bearer at the
In the City of
f
State of Texas, the sum of
( ) Dollars, in lawful ,nonep of the United States of America,
being months' interest due that day on the City of Corpus Christi _
State Aid Seawall and Breakwater Construction Bond, Series 1944, dated
Decerber 1, 1944. BOND NO.
City Secretary, City of Corpus Christi, Mayor, City of corpus Christi,
Texas. Tel :as.
11. The following certificate shall be printed on the back of
each bond:
OFFICE OF COMPTROLLER
ST6.TL OF Th US
I H&4EBI C&TIFY that there is on file and of record in my office
a certificate of the Attorney General of the State of Texas, to the effect
I
that this bond has been examined by him as required by law and that he
finds that it has been issued in conformity with the Constitution and laws
i
of the State of Texas, and the Charter of said City and that it is a valid and '
binding obligation upon said City of Corpus Christi, Texas, and said bond
has this day been registered by me.
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WITIgM MY HAND and seal of office at .ustin, Texas, this the
day of , 1944. {
Comptroller of Public Accounts
of the State of Texas.
12. That to pay the interest on said bonds as the same shall
became due and to create a sinking fund to retire the principal thereof at
maturity, there shall be annually levied and collected a tax sufficient to
pay said principal and interest as it matures and for said purpose there is
hereby levied for the year 194 and each succeeding year while said bonds
are outstanding and unpaid a tax of twenty Cents (20 f) on each
X100.00 valuation of taxable property in said City upon which a tax is
authorized by the law to be levied, or so much thereof as shall be necessary
for said purpose, if any, and so much in addition thereto as may be necessary,
if any. The said tax of and,at the rate aforesaid shall be and is hereby
levied in each of said years at the time other City taxes are levied in said
years and the said tax aball.be assessed and collected, set aside and :(
appropriated for the payment of principal and interest of said bonds and I
for no other purposeg said tax to be levied, assessed and collected in such
year or years as the funds derived from the State of Texas, under Chapter 138, s
Acts of the Regular Session of the Thirty — seventh Legislature in 1921, as !
i
amended by Chapter 9 of the Special Laws of the 46th Legislature, Regular
Session, 1939, by House Bill. Number 52 of such session, extending the donation
period to September, 1956, are insufficient for the purpose of paying the
interest on and principal of what is known as the City of Corpus Christi
State did Seawall and Breakwater Construction Bonds, Series 1944, as the same
becomes due and payable, and which bonds were issued by virtue of ordinance
duly and legally passed by the City Council of the City of Corpus Christi
directing and authorizing the issuance of the said City of Corpus Christi
State Aid Seawall and Breakwater Construction Bonds. -
APPROPRI9TICN
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There is hereby appropriated to the interest and sinking
fund of this issue of bonds from money available therefor the sum of Two
Hundred Thousand Dollars ($200,000.00). It is the intention of the City
Council that the money thus appropriated shall be used along with the proceeds
of the tax levied herein to pay the principal of and interest on the bonds of
this issue as such principal matures and interest accrues. The $200,000.00
appropriated hereby has been received from the State of Texas as a part of the
Proceeds from ad valorem taxes heretofore levied by the State of Texas for
general purposes and donated to the City for the purpose of paying the
principal of and interest on Seawall and Breakwater bonds as provided in
the laws cited in this Section 12. The officers of the city are directed to
do any and all things necessary or convenient to accomplish and carry into
effect this appropriation.
13. IT IS FMHM CRDAIMM that A. C. McCaughan, the Mayor
of said city, shall be authorized to take and have charge of all necessary
records pending the investigation by the Attorney General and shall take and
have charge and control of the bands herein authorized pending their approval
by the Attorney General and registration by the Comptroller of Public Accounts.]
14. That all ordinances and parts of ordinances in conflict
herewith are hereby repealed.
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15. The fact that the improvements contemplated by reason of f
the issuance of said bends are essential to the protection of the property and
health of the inhabitants of the City of Corpus Christi and that there is an
urgent need for immediate protection of property and lives from tropical G
storms, and the fact that the improvements to be derived from the sale of the
said bonds are necessary for the orderly development, growth and protection
of the Port and City of Corpus Chriati, and the boats and ships in the
shipping District of Corpus Christi, creates a public emergency and a public
imperative necessity, requiring the suspension of the Charter Rule providing
that no ordinance or resolution shall be passed finally on the date that it is
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li introduced, and that such ordinance or resolution shall be read at three
several meetings of the City Council and the Mayor having declared that such
public emergency and imperative necessity exists and having requested that
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said Charter Rule be suspended and that this ordinance take effect and be in
f full force and effect fro, : and after its passage, it is accordingly so `-
t
ordained. -
PASSED ON THE �9 DAY OF DECEUM, 1944
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APPROVED ON THE DAY OF DEC30M, 1944
ATTEST— - Ma s, ity of -orpus Christi, Texas
i
City Secretary.fUlty of -
Corpus Christi, Texas
AP D AS TO PORM:
City At or
City of Corpus Christ Texas
1155