HomeMy WebLinkAbout02237 ORD - 03/09/1948AN oRDiNANCE YO. 2237
DECLARING THE AUTHORITY INVESTED IN THE CITY COUNCIL
OF THE. CITY OF CORPUS CHRISTI TO ISSUE BONDS BY
VIRTUE OF APT ELECTION HELD IN THE CITY OF CORPUS
CHRISTI, TEXAS, ON THE 4TH DAY OF OCTOBER, A. D..
1947, FOR THE PURPOSE OF AUTHORIZING THE CITY COUN-
CIL TO ISSUE TYVO MILLION FIVE HUNDRED THOUSAND
($2,500,000.00) DOLLARS OF STORM SEWER IMPROVEMENT
BONDS; SEVEN HUNDRED AND EIGHTY -FIVE THOUSAND ($785,-
000.00) DOLLARS OF STREET IMPROVEMENT.BONDS; NINE
HUNDRED AND FIFTY THOUSAND (050,000.00) DOLLARS OF
SANITARY SEWER IMPROVEMENT BONDS; ONE HUNDRED THOU-
SAND.($100,000.00) DOLLARS OF AIRPORT IMPROVEMENT
BONDS; SIXTY THOUSAND. {$60,000.00) DOLLARS OF PUBLIC
BUILDINGS CONSTRUCTION AND IIAPROVEMENT BONDS; ONE_
HUNDRED AND FIFTY THOUSAND 0150,000.00) DOLLARS OF
PARK 114PROVEMENTS AND PARK BUILDING CONSTRUCTION
BONDS; FIFTEEN THOUSAND (015,000.00). DOLLARS OF BAY-
FRONT L =HEAD AND BAYFRONT T -BEAD IMPROVEMENT BONDS
AND TYPO HUNDRED AND FORTY THOUSAND (.0,000.00)
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DOLLARS OF SWIMMING POOL CONSTRUCTION BONDS TO BE
CANCELLED, HELD FOR NAUGHT, OF NO FORCE AND EFFECT,
TERMINATED, REVOKED AND THE SAPS TO BE NULL AND VOID
AND DECLARING ALL ACTS..AND ORDINANCES PASSED IN
COMIECTION WITH SAID BOND ELECTION TO BE REPEALED,
REVOKED, TERMINATED AND OF NO FORCE AND EFFECT-AND
HEREIN DECLARED NULL AND VOID AND ORDAINING THAT NONE
OF SAID.BONDS SHALL BE ISSUED BY VIRTUE OF THE AUTHO-
RITY GRANTED SAID CITY COUNCIL BY THE ELECTION ,ABOVE
MENTIONED; CONTAINING A SEVERABILITY CLAUSE AND
DECLARING AN EMERGENCY.
WHEREAS, heretofore on the 16th day of September, A. D. 1947, the
City Council of the City of Corpus Christi, Texas, passed an Ordinance,
same being Ordinance No. 2150, calling an election to be held in said
City on the 44th day of October, A. D. 1947, on the following propositions;
PROPOSITION NUMBER 1
"Shall the City Council of the City of Corpus Christi be authorized
to issue the bands of said City in the sum of Two Million Five Hundred
Thousand Dollars (12,500,000.00), maturing serially in such install-
ments as the City Council may prescribe within a period of not exceeding
thirty (30) years from the date of the issuance of said bonds, bearing
interest at a rate or rates not to exceed three (3/) per cent per annum,
payable semi - annually, and to levy a tax on all of the taxable property
within the City sufficient to pay the annual interest and provide a
sinking fund to pay then bonds at maturity, for the purpose of improving,
enlarging, and extending the Storm Water Sewer Systems in and for said
City, as authorized by the Constitution and the laws of the State of
Texas and the Charter of said City ?"
PROPOSITION NUMBER 2
"Shall the City Council of the City of Corpus Christi be authorized to
issue the bonds of said City in the amount of Seven Hundred and aghty-
five Thousand Dollars ($785,000.00), maturing serially in such install-
ments as the City Council may prescribe within a period of not exceeding
twenty (20) years from the date of the issuance of said bonds, bearing
interest at a rate or rates not to exceed three (3j) per cent per annum,
payable semi - annually, and to levy a tax on all taxable property within
said City sufficient to pay the annual interest and provide a sinking
fund to pay the bonds at maturity, for the purpose of making permanent
street improvements within the City, as authorized by the Constitution
and the laws of the State of Texas and the Charter of said City ?"
a_� �7 =,
PROPOSITION NMMER 3
"Shall the City' Council of the City of Corpus Christi be authorized
to issue the bonds of said City in the sum of Nine Hundred and Fifty
Thousand Dollars ($950,000.00), maturing serially in such install-
ments as the City Council may - prescribe within a period of not exceeding
thirty (30) years from the date of the issuance of said bonds, bearing
interest at a rate or rates not to exceed three (3 %) per cent per
annum, payable semi - annually, said bonds to be redeemable at the option
of the City at any interest paying date after the end of twenty (20)
years from the date of issuance, and to levy a tax on all taxable property
within said City sufficient to pay the annual interest and provide a
sinking fund to pay the bonds at maturity, for the purpose of improving,
enlarging and extending the sanitary sewer systems in and for said City,
as authorized by the Constitution, and the laws of the .State of Texas
and the Charter of said City ?"
PROPOSITION NmER 4
"Shall the City Council of the City of Corpus Christi be authorized
to issue the bonds of said City in the sum of One Hundred Thousand
Dollars ($100,000.00), maturing serially in such installments as the
Cit Council may prescribe within a period of not exceeding twenty
(Z years from the date of the issuance of said bonds, bearing interest
at a rate or rates not to exceed three (3 %) per cent per annum, payable
semi- annually, and to levy a tax on all of the taxable property within
the City sufficient.to pay the annual interest and provide a sinking
fund to pay the bonds at maturity, for the purpose of aonstruoting-im-
provembnts to. the'munioipal airport of said City, extending and improving
the drainage systems thereof, and purchasing the necessary sites and
right of ways therefor as authorized by the Constitution and the laws
of the State of Texas and the Charter of said City ?"
PROPOSITION NMER 5
"Shall the City Council of the City of Corpus Christi, Texas, be
authorized to issue the bonds of said City in the sum of Sixty Thousand
Dollars ($60,000.00), maturing serially in such installments as the
City Council may prescribe within a period not exceeding ten (10)
years from the date of the issuance of said bonds, bearing interest
at the rate or rates of not to exceed three (31.) per cent per annum,
payable semi. - annually, and to levy a tax on all of the taxable property
within the City sufficient-to pay tho.annual interest and provide a
sinking fund to pay the bonds at maturity, for the purpose of building,
constructing, improving, altering, and repairing municipal public
buildings and acquiring necessary lands and sites therefor, within the
corporate limits of the City of Corpus Christi, Texas, as authorized
by the Constitution and the laws of the State of Texas and the Charter
of-said City ?"
PROPOSITION NUMBER 6
"Shall the City Council of the City of Corpus Christi, Texas, be
authorized to issue the bonds of said City in the sum of One Hundred
and Fifty Thousand Dollars ($150,000.00), maturing serially in such
installments as the.City Council may prescribe within a period of not
exceeding twenty (20) years from the date of the issuance of said bonds
bearing interest at the rate or rates of not to exceed three (3%) per
cent per annum, payable semi - annually, and to levy a tax on all.of the
taxable property within the City sufficient to pay the annual interest
and provide a sinking fund to pay the bonds at maturity, for the pur-
pose of the following permanent improvements, to�wit. constructing,
building, equipping and improving pleasure grounds, parks and playgrounds
in and for said City, for securing and acquiring the necessary lands
and sites therefor and for improving, extending and equipping pleasure
grounds, parks and playgrounds now owned by said City, as authorized
by the Constitution and the laws of the State of Texas and the Charter
of said City ?"
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PROPOSITION NULdBER 7
"Shall the City Council of the City of Corpus Christi, Texas, be
authorized to issue the bonds of said City in the amount of Fifteen
Thousand Dollars (015,000.00), maturing serially in such installments
as the City .Council may prescribe within a period of not exceeding
ten (10) years from the date of the issuance of said bonds, bearing
interest at the rate or rates of not to exceed three (3%-) per cent
per annum, payable semi - annually, and to levy a tax on all taxable
property, within said City sufficient to pay the annual interest and
provide a sinking fund to pay the bonds at maturity, for the purpose
of paving, providing roadways, parking areas, and other permanent
fmpfovements on, about or adjacent to the Bayfront T Heads and the
Bayfront L -Head within and owned by the City of Corpus Christi, Texas,
as authorized by the Constitution and the laws of the State of Texas
and the Charter of said.City ?"
PROPOSITION NUMBER 8
"Shall the City Council of the City of Corpus Christi, Texas, be
authorized to issue the bonds of said City in the sum of Two Hundred
and .Forty Thousand Dollars .($210,000.00), maturing serially in such
installments as the City Council may prescribe within a period of
not exceeding Twenty (20) years from the date of the issuancs of said
bonds, bearing interest at the rate or rates of not to exceed three
(3f) per cant per annum, payable semi - annually, and to levy a tax
on all taxable property within said City sufficient to pay the annual
interest and provide a sinking fund to pay the bonds at maturity,
for the purpose of the following permanent improvements, to-wit-
constructing and equipping.swiumxing pools in and for said City and
for securing and acquiring the necessary lands and sites therefor as
authorized by the Constitution and the laws of the State of Texas and
the Charter of said City ?"
and,
WHKREU, on the 4th day of October, A.' D. 1947, said election
was held; and,
'MREAS, on the 7th day of October, 1947, a canvass was made of
. said election "pis evidenced'by Ordinance No. 2160 passed and approved by
the City Council on aforesaid date, setting out the results of said eleo-
tion and by virtue of said ordinance it was ordained that%
"1. That the propositions to issue Storm Sewer Improvement
Bonds, Street Improvement Bonds, Sanitary Sewer System Improvement Bonds,
Public Buildings Construction and Improvement Bonds, Park Improvement
and park Buildings Construction Bonds and Bayfront L -Head and Bayfront T-
Head Improvement Bonds, above mentioned, were sustained by a majority of
the resident, qualified electors who own taxable property in said City
and who have duly rendered the same for taxation, voting at said election
and the City Council of the City of Corpus Christi, Texas, is hereby
authorized to issue said bonds in accordance with the said propositions.
"2. That the propositions to issue Airport Improvement Bonds
and Swimming Pool Construction Bonds failed to carry by a majority vote
�3_
of the resident, qualified electors who own taxable property in said
City and who have duly rendered the same for taxation, voting at said
election" and,
WHEREAS, no bonds authorized by said election have been
issued by the City Council of the City of Corpus Christi; and,
REREAS, a portion of said bonds authorized by said election
were offered for sale and no bids were received on same; and,
AREAS, it is impossible to sell said bonds at an interest
rate of three (3y) per cent or less as was authorized in said election;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF CORPUS CHRISTI, TEXAS:
SECTION 1. That the preamble to this Ordinance is hereby
ordained to be a part of same.
SECTION 2. That the authority invested in the City Council
by virtue of an election held on the 4th day of October, A. D. 1947, as
canvassed and set out in Ordinance No. 2160, passed and approved by the
City Council of the City of Corpus Christi on the 7th day of October,
A. D. 1947, is hereby declared and ordained to be cauoelled; terminated,
held for naught, of no force and effect, is a nullity and is to be null
and void and that all acts and ordinances in connection with said eleo-
tion.and said authority invested in the Council-by vir;tue.of said 61e0tion
are hereby declared to be null and void, of no further force and effect
and are hereby repealed and declared a nullity.
SECTION 3. It is hereby ordained that the Storm Sewer Improvement
Bonds, Street Improvement Bonds, Sanitary Sewer System Improvement Bonds,
Public Buildings Construction and Improvement Bonds, Park Improvement and
Park Buildings Construction Bonds and Bayfront L -Head and Bayf rout T »Head
Improvement Bonds, authorized to be issued by virtue of the election held
on October 4. 1947, as aforesaid shall not be issued, and the authority
and right to issue same is hereby terminated by this Ordinance. That no
tax shall be levied for payment.of said bonds or interest thereon.
SECTION 49" It is further ordained that none of the bonds above
mentioned nor any portion of them shall ever be issued by the City of Corpus
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Christi, Texas, but that the proceedings incident to and connected with
the calling of the election and the election on such bonds are hereby
ordained to be repealed, to hereafter be void and of no further force
and effect.
SECTION 5. If any section, paragraph; subdivision, clause,
phrase or provision of this Ordinance shall be adjudged invalid or held
unconstitutional, the same shall not affect the validity of this Ord!-
nance as a whole or any part or provision thereof other than the part
so decided to be invalid or unconstitutional.
SECTION 6. The fact that it is impossible to market the bonds
set out in this ordinance which were authorized to be issued by an elec-
tion held on the 4th day of October, A.D. 1947, because of the fact that
no buyers:, *ill purchase the bonds at par and accrued interest at the
rate of three (3j) per cent per annum and the fact that bonds .should be
issued at this time in order to do necessary improving in the City of
Corpus Christi to promote the health, safety and general welfare of the
citizens of Corpus Christi and the fact that it is necessary to issue
new bonds with a higher rate of interest than three (3%) per cent per
annum in order to make such needed improvements creates a public emergency
and public imperative necessity requiring the suspension of the Charter
rule. that no ordinance ors 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, and the 'Mayor having declared
that such public emergency and imperative necessity exist, and having
requested that such Charter rule be suspended, 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 -7?— day of FelarueaW, A. D. 194B.
ATTEM City of Corpus Christi, Texas
i
Corpus Christi, Texas
Pelar-M 1948
TO THE 1EMBERS OF THE CITY COUNCIL
Corpus Christi, Texas
Gentlemen:
For the reasons set forth in the emergency clause of the
foregoing ordinance, a public emergency and imperative necessity
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 meetings of the City Council; T, therefore, hereby request that
you suspend said Charter rule or requirement and pass this ordinance
finally on the date it is introduced, or at the present meeting of
the City Council.
Respectfully,
Y
City of Corpus Christi, Texas
The Charter rule was suspended by the following vote:
Wesley E. Seale
George R. Clark, Jr.
John A. Ferris
R. R. Henry
Joe T. Dawson
The above ordinance was passed by the ollowing vote.
Wesley E. Seale
George R. Clark, Jr.
John A. Ferris
R. R. Henry
Joe T. Dawson