The URL can be used to link to this page

Home My WebLink About01767 ORD - 01/18/1945110 A RESOLUTION AWARDING TO THE - PURCHASER THEREOF THE CITY OF CORPUS. MISTI STATE -AID SEMCLU AND BREAKWATER BONDS, SERIES 1944, $1,500,000,00, BEARING 2% INTEREST, AND PRESCRIBING TAE DUTIES OF THE SEVERAL CITY OFFICIALS IN REFERENCE TM02TC; AND DECLARING.ATI MMGENCY ppMEAs, at a special meeting of the City Council held on December 18, 1944, the City Controller was directed to give published notice of intention of the City Council to sell its City of Corpus Christi State -Aid Seawall and Breakwater Bonds, Series 1944, bearing 2p interest, at a public sale to be held at 3 o'clock P— on Jaxmary 18, 1915; and WHEREAS, notice of said sale was duly given by publi- cation thereof in the following newspapers published in the City of Corpus Christi, and in the issues respectively indicated, as follows: Corpus Christi Caller on the 4th day of January, 1945, and on the 11th day of January, 1945- and in addition thereto by publication, of said notice in the Bond Bayer, a financial journal pu'olishad in tho City o£ ='a' York in the State o£ 1 York, and in the Texas Bond Reporter which is published in the City of ilalias, Texas) and - AdFRLi.,S, pursuant -.o said rotice bids here received by bond houses i and syndicates briefly Lidics.ted as follows: (1) Shields & Company Mullaney, Ross & Co. Coffin & Barr, Inc. Ball —, & Mein Ebrnblower & Weeks Newhard, Cook & Co. Dempsey & Co. J. M. Dai.n & Co. I311er, Kenower & Co. 'Emerson & Co. said bid being on behalf of said syndicate by Emerson & Company. Premium $31F,230.00 - Dollar price $102.282 per $100 par value. together with accrued interest from date of bonds to date of delivery. (2) Crummer & Company, Inc. John Nuveen & Company Braun, Bosworth & Co. Inc. William Blair & Commpany R. S. Dickson & Co. Inc. Weil, Roth & Irving Co. F. Brittain Kennedy & Co. McClung & Knickerbocker, Inc. Premium $27,11;7.00 Dollar Price 101.el (3) Phelps, Fenn. & Company, at al Premium $26,250.00 Dollar Price 101.75 (4) Ruse & Company The Ranson- Davidson Co., Inc. Premium $25,987.50 Dollar Price 101.7325 1 (5) Mercantile Commerce Bank & Trust Company, at al Premium $22,650.00 Dollar Price 101.51 (6) Dittmar and Company, at al Premium $20.275.00 Dollar Price 101.35 (7) Garrett and Company, at al Premium $116250.00 Dollar Price 100.95 and WEIREmS, of the bide received, that of Shields & Company; Coffin & Barr, Inc.; Hornblower & Weeks; Dempsey & Co.; hiller, Xenower & Co.; Mullaney, Ross & Co.; Bauman & Wain; Newhard, Cook & Company, J. M. Dain & Company and Emerson & Company, said bid being on behalf of said syndicate by Emerson & Company is considered to be the highest and best bid from the standpoint of the City; and WHEREAS, it is considered to be to the best interest of the City that said bid be accepted, NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF TEE CITY OF CORPUS CHRISTI, TEXAS: 1. That said bid filed by Shields &Company; Coffin & Barr, inc.; It orablower & Weeks; Dempsey & Co.; Miller, Henower & Co.; Mullaney, Roes & Co.; Hallman & Main; Newhard, Cook & Company, J. M. Dain & Co- mpany, and Emerson & Company, offering to pay for said bonds a price of par and accrued interest to date of delivery, plus a premium of $31,230.00. be and the same is hereby accepted; 2. That the Mayor, City Secretary, and City Controller be, and they are hereby, authorized, ordered, and directed to execute the acceptance of said bid in such form as shall be approved by the City Attorney; 3. That the Mayor, City Seoretary, City Controller and the City Attorney be and they are hereby authorized, ordered, and directed to do any and all things necessary or convenient to accomplish as speedily as possible the final delivery of said bonds in accordance with the terms of said contract of purchase; 4, The fact that the greater portion of the l:usinees part of the City of Corpus Christi, and all of the shiunin° district, is located on the edge .i of Corpus Christi bay only a few feet above sea level, and the facts that the itiprovements cortem ^sated herein, are essential zo the yrotection and health of the inhabitants of the pity of Corpus Christi and teat there is 7 an argent need for the i.-,vdiate r.tection, of the cr.perty and lives fro.. the trozical stcr;as, ai-d t'4e fact tP.at arch ipr oveme1ts 'are recessar? for the orderly develoi3t —t ar -d growth cf the City of Correa Christi and the rort of GcrloaB Christi, and the fact t�,at property, a great nu:i— of lives and boats in ",!a shipping district o£ the City of Corpus Christi were destroyed by pr--'.:r storms, rmd the fact twat the Ynrt of nor >as Gnriati and the properties thereof need �:rotection for all shipping ir_dustries, create a public emergency and an vicsratilre cu'r.iic necessity requirie, the auspersion of the ohcrter rule rrovidir� that no reaoDticn shall be ado,ted on the date it is introduced, and that such reaolution ehall be recd at three aavarol ;::eet:a,�s o= t' —' fits ro:_noil, aad t; -.e _-yc- `s.vi.„ declared t_ t; such ;:ob'ic erergency and in;erative necessity exist, s.:.d having requeoted taa i; said mile 'oe suspended, aid t_` ,a- this rasolutiun taro sf'_ec`_ end %e i- Pull force and effectt fror,, and after its adoption, IT 13, - CCC;iDIliGLY SG 23(17:1'D, "eD :.. -i =.:, D this the /—O d= , d_ rsnuary, 1945= 'fiaycr, Cit of .orous Ghx'-sti, Ye as, 'T— City 6scretary `r (6-'u L) AP :.- ,o - i,.,��.� = CixL Q UCity „tt Grney City of Corpus Christi C.,,.. Cb�.,i. T.... a. c January 18. 1945 To the City Council Corpus Christi, Texas Gentlemen:. Due to the fact that the greater portion of the business part of the City of Corpus Christi and all of the shipping district are located on the edge of Corpus Christi Bay, only a few feet above sea level, and the facts that the improvements contemplated to be made on such Bayfront are essential to the health and protection of the residents of the City of Corpus Christi, end that there is an urgent need for the immediate protection for the property and lives from the tropical storms in this area, and the fast that such improve- ments are necessary for the orderly development and growth of the City of Corpus Christi and the Port of Corpus Christi, and the fact that property, a great number of lives, and boats in the shipping district of the City of Corpus Christi were destroyed by prior storms, and said City needs protection, create a public emergency and impera- tive public necessity requiring the suspension of the Charter rule or requirement that no Ordinance or Resolution be passed finally on the date of its introduction and that said Ordinanoe or Resolution shall be read at three several meetings of the City Council; I, thersf� c, hereby request that you suspend such Charter rule or re- quirement and pass this Resolution finally on the date it is intro- duced, or at the present meeting of the City Council. Very truly yours, A. C. McCaughan, Mayor City of Corpus Christi, Texas Z Christii, Texas L7,1945 , 1945 TO THE IMMM OF THg CITY COUNCIL OF THE CIT9 OF.COWB CHRISTI Corpus Christi, Texas Gentlemenr For the reasons set forth in the emergency clause of the foregoing Ordinances a public emergency and imperative neces- sity exist for the suspension of the Charter rule or requirement that no Ordinance or Resolution shall be passed finally on the date it is introduced, and that such Ordinance or Resolution shall be read at three several meetings of the City Council; I, therefore, hereby request that you suspend such Charter rule or requirement and peas this Ordinance finally on the date it is introduced, or at the present meeting of the City Council. Respect ly Mayor, of of orpus UM=1 T e x a s The Charter rule was suspended by the following vote. A. C. McCaughan Jos. Mireur Fd. P. Williams D. A. Segrest B. G. Moffett The above Ordinance was passed by the following vote: A. C. McCaughan Jos. Mireur Ed. P. Williams D. A. Segrest J B. G. Moffett TM STATE Oe MfXti; CMIM OF PUEUS CITI CF CCPFj6 CHktZ$TI : t'i'TICE CF S :ECLU iEET Nd _6E CITY CCtf,:C7: Notice is hereby e.iven to the : rb.rs of the City Council, the p� City Jecretary, and the City Attorney of the City of Ccrrus Christi, Teyae, of a special eB.Uh.E rf the Council co 'ne h.1d in the City Eall at 10: 30, A. L., Tuesday, January 18, 1545, for the purpose of considering the adoption of a resolution awarding to the o,schaser thereof the City of Corpus Christi State—�id Seawall and Erea}a+ater Hords, aeries 1944, 2%, ;11,500,000,00, and to take such other action in reference tc said issue Of bonds as rAy be _recessarr cr converient'and to uransact routine business of the City Council. This notice is given thls the 18th day of January, 1945, hayor, City of Ccr;us L'.�risti, T.xas, I hereby certify that 1 have received cony of the notice of special r :eetin, of the City Co.mci.l called for January I8, -1945, which cony rotas either served upm me personally or v;as le£t at ny usual place of abode, and that said notice was so served alor re ^ricr to said ruting on January 18, 1845=