HomeMy WebLinkAbout02296 ORD - 06/15/1948• . r
TFM STATE OF T XAS
COMITY OF IRMECHS fj
CITY OF CORPUS C RISTI { '
On this the 15th day of Juno, 1948, the City Council of the City
of Corpus Christi, Texas, convened in Regular Meeting, with the following
members of said Council present, to -wit:
wealey E. Seale, ;:cayor
George R. Clark, Jr. (�
John A. Ferris d
Commissioners
R. R. Henry
Joe T. Dawson (�
M. A. Cage, Jr. City Secretary,
with the following absent: , constituting a
quorum, at which the following among other business was transacted,
air. ' o
presented, for the c nsideration of
the Council, an Ordinance. The Ordinance was read by the City Secretary.
The Mayor presented to the Council a commlaication in writing pertaining
to said proposed Ordinance, as follows;
Corpus Christi, 'Texas
June 15th, 1948
TO THE bQUEBDRS OF THE; CITY COUNCIL
Corpus Caisti, Texas
Gentlemen;
For the reasons set forth in the emergency clause of the
foregoing ordinance, a public emrgency and imperative necessity
exist for the suspension of the Charter rule o requirement that n o
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; I, 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,
A 0
City of Corpus Christi, Texas
Commiesionar lx " "' de a mn ht t rer
provisions prohibiting ordinances from being
passed finally on the date
introduced be suspended for the reasons stated in the iiritten request of
the May— and stated i em noy clause of the ordinance. The ;notion
was seconded by Y The motion was carried by a
unanimous vote by the City Council, vie:
AYE'S: Commissioners Clark, Ferris, Henry and Dawson.
NAY'S: None.
L:r. / made a motion that the ordinance be
passed finally. The motion was seconded by Mr. The
motion was carried by the following vote:•
AYES: Commissioners Clark, Ferris, henry and Dawson.
NAY'S: Novo.
The 1%yor requested that the records show that he vote "ye.
This was done.
The M%yor announced that the Ordinance had been passed. The
Ordinance is as fellows:
j ORDINANCE %�b 2 2 9
AWARDING TO THE PURCHAM $2,200,000.00
CITY OF CORPUS CHRISTI, TEAS, WAT&RWJRISS
REVENUE BONDS, SERIFS 1948, AND DECLARING
AN EMERGENCY.
WHEREAS, the City Council of the City of Corpus Christi, Texas,
has had under consideration the sale of its Waterworks Revenue Bonds, Series
1948, more particularly described in the Official Offering of the City, dated
'! June 1, 1948, and maturing serially throughout the years 1949 to 1978, both
inclusive, as shown in such Official Offering; and
WHEREAS, after having received and considered all of the offers,
the City Council considers the offer of First of Boston Corporation,
Chicago, Illinois; First Southwest Company, Dallas, Texas; Underwood,
Neuhaus & Co., Houston, Texas; Dallas Union Trust Company, Dallas, Texas;
'! John Douglas & Co., Inc., Omaha, Nebraska; Fridley & Hess, Houston, Texas;
Thomas & Company, Pittsburgh, Pa.; Tripp & Co. Inc., New York, New York;
and R. A. Underwood & Company, Inc., Dallas, Texas, as the highest and best
bid, which bid is par and accrued interest to date of delivery, plus a
premium of $E777.77, fer the bonds to bear interest at rates as follows:
Bonds maturing in the years 1949 to 1953, both
inclusive, 4% per annoy
Bonds maturing in the years 1954 to 1959, both
inclusive, 2-3/4% per anmm;
Bonds maturing 1960 to 1978, both inclusive, 3 -1/4% per anmm;
W-Tr
WHEW, it is considered to be to the best interest of the City
that said bid be accepted;
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
I. That the bid of rirst of Boston Corporation, Chicago, Illinois;
First Southwest Company, Dallas, Texas; Underwood, Neuhaus & Co., Houston,
Texas; Dallas Union Trust Company, Dallas, Texas; John Douglas & Co., Inc.,
Omaha, Nebraska; Fridley & Hess, Hcuston, Texas; Thomas & Company, Pittsburgh,
Pa.; Tripp & Co., Inc., New York, New York; and R. A. Underwood & Co. Inc.,
Dallaa, Texas, for said bonds, being a bid of par plus accrued interest
to date of delivery, Plus a premium of $777.77 be and the same is hereby
BCceDted.
2. That the Mayor, City- Secretary and City Treasurer be and they
are hereby ordered and directed to do any and all things necessary to
complete the delivery of said bonds to the said First of Boston Corporation,
Chicago, Illinois; First Southwest Company, Dallas, Texas; Underwood,
Neuhaus & Co., Inc., Omaha, Nebraska; Fridley & Hess, Houston, Texas;
Thomas & Company, Pittsburgh, Pa; Tripp & Co., Inc., New York, New York;
and R. A. Underwood & Company, Inc., Dallas, Texas, in accordance with
the bid, and the receiving of the money for the benefit of the City.
3. The fact that the contemplated use of the proceeds of the
waterworks revenue bonds are necessary for the orderly development and
growth of the City of Corpus Christi, Texas, creates a nublic emergency
and an imperative public necessity requiring the suspension of the Charter
Rule providing 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 and the Mayor having
declared that such public emergency and imperative necessity exist, and
having requested that said Charter Rule be suspended and that this
ordinance take effect and be in full force and effect from and after its
passage, it is accordingly so prdaln^d.
PASSED AND APPROVED this the 15 day of June, 1948.
or, 'my of orpussti,
Texas.
ATTEST:
ity ecret ty oP Corous
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The foregoing Ordinance has been approved as to fora and
—tness this i,x day of June, 1948.
City a tcrneyA/