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Home My WebLink About02226 ORD - 02/17/1948THE STATE OF TEXAS COUNTY OF NUECES CITY OF CORPUS CHRISTI On this /7 day of February, A. D. 1918, the City Council of the City of Corpus Christi, Texas, convened in regular meeting with the following members of said Council present, to -wit: Wesley E. Seale, Mayor George R. Clark, Jr. (j John A. Ferris Commissioners R. R. Henry lj Joe T. Dawson M. A. Cage, Jr., City Secretary dith the following absent: None, constituting a quorum, at which time the following among other business was transacted: Mr. Wesley E. Seale, Mayor, presented for the consideration of the Council an Ordinance. The Ordinance was read by the City Secre- tary. The Mayor presented to the Council a communication in writing pertaining to said proposed Ordinance, as follows: Corpus Chris ti Texas February , 9 1948 TO THE CITY COUNCIL Corpus Christi, Texas Gentlemen: For the reasons set forth in the emergency clause, Section 2 of the Ordinance herein proposed to be passed for the giving of notice of the intention of the City Council to issue Waterworks Revenue Bonds in the sum of Two Million Two Hundred Thousand ($2,200,000.00) Dollars to be used for the payment of judgment in the case of Fred P. Hayward, et al, vs. the City of Corpus Christi, et al, same being Cuase No. 2666 on the docket of the Court of Civil Appeals, 10th Supreme Judicial District, Vfaco, Texas, the proposed ordinance creates a public emergency and I request that it be passed finally on the date introduced. Yours very truly, Wesleyale, Mayor City of Corpus Christi, Texas Commissioner (C_ZQ r made a motion that the Charter provision 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 Commissioner The motion was carried by a unanimous vote by the City Council, viz; Ayes: Commissioners Clark, Ferris, Henry and Dawson. Nayes: None. The Mayor requested to be recorded as voting "Aye ". Commissioner (j/ It Yk made a motion that the Ordinance be passed finally. The motion was seconded by Commissioner Y j The motion was carried by the following vote: Ayes; Commissioners Clark, Ferris, Henry and Dawson. Nayes: None. The Mayor requested to be recorded as voting "Aye ". The Mayor announced that the Ordinance had been passed. The Ordinance is as follows: AN ORDINANCE�� % b BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEAS, AUTHORIZING AND DIRECTING THE MAYOR AND CITY SECRETARY TO GIVE NOTICE IN PURSUANCE OF THE PRO- VISIONS OF THE "BOND AND TURRET LAY! OF 1931 "; PRO- VIDING FOR THE PUBLICATION OF SUCH NOTICE AND AFFORDING AN OPPORTUNITY TO THE (47ALIFIED VOTERS OF THE CITY OF CORPUS CHRISTI TO FILE A PETITION FOR A REFERENDUM ELECTION UPON THE QUESTION OF WHETHER OR NOT THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI SHALL SUBMIT TO SUCH 4UALIFIED VOTERS THE PROPOSITION WHETHER OR NOT BONDS SHALL BE ISSUED BY SAID CITY IN THE SUM OF TWO P14ILLION TWO HUNDRED THOUSAND ($2,200,000.00) DOLLARS, PAYABLE OUT OF THE REVENUES OF TIE WATERWORKS SYSTEM. FOR THE PURPOSE OF PAYING OFF A JUDGMENT AGAINST THE CITY OF CORPUS CHRISTI RENDERED BY THE COURT OF CIVIL APPEALS, 10TH SUPREME JUDICIAL DISTRICT, VPACO, TMS, AND AFFIRMED BY THE SUPREME COURT OF THE STATE OF TEXAS, SAID CASE BEING STYLED FRED P. HAUURD, ET AL VS. THE CITY OF CORPUS CHRISTI, ET AL, AND BEING NUMBERED 2666 ON THE DOCKET OF THE COURT OF CIVIL APPEALS AND DECLARING AN EMERGENCY. tiM REAS, the Court of Civil Appeals, 10th Supreme Judicial District, haco, Texas, has rendered a judgment in Cause No. 2666 on the docket of said court, styled Fred P. Hayward, et al vs. The City of Corpus Christi, et al, said judgment having been affirmed by the Supreme Court of Texas and being in the sum of One Million Eight Hun- dred and Thirty -three Thousand Five Hundred and Fifty -eight Dollars and Seven Cents ($1,833,558.07) and bearing interest at the rate of six (6/) per cent per annum from May 5, 1945, until the payment of said judgment; and, W iEREAS, there is now due approximately the sum of Two Million Two Hundred Thousand (32,200,000.00) Dollars, same being principal of the judgment, interest and costs; and, WHEREAS, a mandate has been issued by the Court of Civil Appeals, 10th Supreme Judicial District of Texas, in pursuance of the above mentioned judgment ordering the City of Corpus Christi to pay said judgment; and, dZDMEAS, it has been determined by the City Council that it is essential that said judgment be paid in order to comply with said mandate and in order to insure the financial stability of the City; and, WHEREAS, the City Council deems it necessary to issue bonds in the sum of Two Million Two Hundred Thousand (:y2,200,000.00) Dollars, payable out of the revenues of the City's waterworks system, as autho- rized under the laws of the State of Texas, the City Charter and in pur- suance of the Acts of 1945, of the 49th Legislature, page 605, Chapter 349, known as Article 1110a of Vernon's Annotated Civil Statutes of Texas; NOff, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXA1Ss SECTION 1. That the Mayor and City Secretary be authorized and directed to give notice and cause publication of said notice to be made, in compliance with the provision of Article 2368a of the Revised Civil Statutes of Texas, Acts of 1931, 1�2nd Legislature, page 269, Chapter 163; Acts of 1931, i2nd Legislature, First Called Session, page 12, Chapter 214, Section 1, known as the "Bond and warrant Law of 1931 ", a copy of which notice is attached hereto and made a part of this ordinance for all intents and purposes. NOTICE OF INTENTION TO PASS AN ORDIAANCS AUTUORIZING ISSUANCE Or WATEW -VORKS REVENUE BONDS FOR Tiffs PURPOSE OF PAYING A MONEY MIPENT AWARDED AGAINST T112 CITY 0? COR- PUS C.fIfiISTx. Notice is hereby given that the City Council of the City of r fter Corpus Christi, Texas, intends 0`!A& �th day of March, 1946, to pass an ordinance authorizing the issuance of City of Corpus Christi TiYaterworks Revenue Bonds, in an amount not exceeding Tyro Million Two Hundred Thousand 42,200,000.00) Dollars, bearinG interest at a rate not exceeding 4% per annum ar_d maturing serially in such installments as may be fixed by the City Council, the maximum maturity date or final installment to be not later than thirty -five (3) years after the date o: Baia bonds, for the purpose of Fay=in, the money judgment for C1ao Million Zitht lfundred and Thirty - throe 'T'i.ossaiid rive ilundrod laic: fifty -eight Dollars and Seven l,8'j3,y53.07) togetaor with interest thereon at the rate of 6 per aiuium from may 5, 1945 to the date of the pro?osed revenue bonds, said judgment awarded against the City in the case styled Fred P. Hey- ward, et al. vs. the City of Corpus Christi, et al, as said judgment was reformed by the Court of Civil Appeals in e;sea in Cause No. 2666 of said Court. Said bonds shall be issued in accordance with the laws of the State of Texas, including Chapter 349 to of the Regular :session of the 49th Legislature, effective June 16, 1945. and to the extent applicable Articles 1111 to 1118 of the Revised Civil Statutes of Texas as amended, and to the extant applicable Chapter 163 Acts of the Regular Session of the 42nd Legislature as amended. Said bonds shall be payable solely out of the revenues of and secured by a pledge of the net revenues of the City's waterworks system (the term "System" including all of the Cityts waterworks properties and everything pertaining thereto presently owned and hereafter acquired by the City), and further secured by a lien upon the properties constituting the System and a lien upon and grant of a franchise to operate such System in the event of its sale after default in the payment of such revenue bonds or interest thereon. Said bonds shall be conditioned that the holder thereof shall never have the right to demand payment thereof out of moneys raised or to be raised by taxation. The ordinance authorizing the issuance of the proposed waterworks revenue bonds will contain a provision expressly permitting issuance of additional revenue bonds to be secured by a pledge of the revenues and lien upon the properties of the system and upon such franchise, of equal dignity with the pledge and lions securing the waterworks revenue bonds to be issued under authority of this notice, provided that such additional waterworks revenue bonds will be issued for improvements, extensions, repairs and replacements of and to the System only to the extent and in t:le manner expressly permitted by said or after � ordinance -to be paused e�i(aroh. 19140, and in accordanoe with appliaable law. ,finer, the waterworks revenue bonds shall have been issued under the ordinance to bo passed puruu,ait to this notice the City will not thereafter be al:thorized to and will not issue any of the waterworks revenue bonds authorised for the same purpose eiVier by the election heretofore held. in said City on i;atober ] +, 1947, or by virtue of the notice of intention heretofore given by the Mayor of the City of Corpus Christi under date September 9, 1947. This notice is given pursuant to authorization by tins City "ounoil =der date Pebruary ./ , 1946- City of Corpus Christi, Texas won � ffia�� SECTION 2. The fact that the payment of the judgment to Fred P. Hayward, et al, is necessary to preserve the credit of the City of Corpus Christi and to conform to the mandate handed down by the Court of Civil Appeals, 10th Judicial District of Texas creates a public emergency and imperative necessity requiring the suspension of the Charter rule that no ordinance or resolution shall be passed finally on the date it is introduced and that such ordinance or reso- lution shall be read at three several meetings of the City Council, and the Mayor having declared that such public emergency and imperative necessity exist, and having requested that such Charter rule be sus- pended, and that this ordinance be passed finally on the date of its introduction and take effect and be in full force and effect from and after its passage, IT IS ACCORDINGLY SO ORDAINED. PASSED AND APPROVED this day of , A. D. 1948. t� City of Corpus Christi, Texas PROVED i0 AS TO LEGAL FORM- Corpus Christi, Texas 1948 TO THE CITY COUNCIL Corpus Christi, Texas Gentlemen: For the reasons set forth in the emergency clause, Section 2 of the Ordinance herein proposed to be passed for the giving of notice of the intention of the City Council to issue Waterworks Revenue Bonds in the sum of Two Million Two Hundred Thousand ( $2,200,000.00) Dollars to be used for the payment of judgment in the case of Fred F. Hayward, et al, vs. the City of Corpus Christi, et al, same being Cause No. 2666 on the docket of the Court of Civil Appeals, 10th Supreme Judicial District, viaco, Texas, the proposed ordinance creates a public emergency and I request that it be passed finally on the date introduced. Yours very truly, Wesley F,. e, Mayor City of Corpus Christi, Texas The Charter rule was suspended by the following vote: ifesley E. Seale George R. Clark, Jr. John A. Ferris R. R. Henry Joe T. Dawson The above ordinance was passed by the cllowing vote: Wesley E. Seale George R. Clark, Jr. �GL� John A. Ferris R. R. Henry Joe T. Dawson aaa�