HomeMy WebLinkAboutMinutes City Council - 07/09/1975 - Special (2)PRESENT:
Mayor Pro Tem Bill Tipton
Commissioners:
Eduardo de Ases
Ruth Gill
Bob Gulley
Gabe Lozano, Sr.
Edward Sample
MINUTES
CITY OF CORPUS CHRISTI, TEXAS
SPECIAL COUNCIL MEETING
July 9, 1975
11:00 A.M.
City Manager R. Marvin Townsend
Acting City Attorney Michael May
City Secretary Bill G. Read
Mayor Pro Tem Bill Tipton called the meeting to order and announced
the purpose of the special meeting was to receive bids on the sale of $2,000,000
Certificates of Obligation, Series 1975. He asked that it be noted that a quorum
of the Council and required Charter Officers were present to hold a valid meeting.
Mayor Jason Luby was absent.
Proposals were opened and read by Assistant Director of Finance,
Charles Daley, on the sale of $2,000,000 Certificates of Obligation, Series 1975,
from the following firms: First National Bank in Dallas (Hornblower & Weeks—
Hemphill, Noyes, Fort Worth National Bank, Paine, Webber, Jackson & Curtis, Texas
Commerce Bank N.A., E. F. Hutton & Co., Inc.); White, Weld & Co., Inc. (First
National Bank of Fort Worth, Loeb, Rhoades & Co.); Guaranty National Bank and
Trust of Corpus Christi (Texas Commerce Bank, Houston); Harris Trust & Savings
Bank, Chicago (Northern Trust Co., Chicago); Republic National Bank, Dallas
(Cullen Center Bank, Houston, Texas Bank & Trust, Dallas, Eppler Guerin & Turner);
Rauscher Pierce Securities Corp.; First City National Bank of Houston (Ratan Mosle,
Inc., Blyth, Eastman, Dillon); Weeden & Co., Inc.; Underwood Neuhaus & Co.; First
City National Bank, N.Y.
The foregoing proposals were referred to Assistant Director of Finance,
Charles Daley, for tabulation and recommendation, and a brief recess was declared
for this purpose.
Assistant Director of Finance, Charles Daley, reported that the low bid
had been received from First National Bank in Dallas & Associates at an effective
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interest rate of 5.07690%. (Bid Tabulation #39-75)
Mayor Pro Tem Tipton presented for the consideration of the Council an
ordinance. The ordinance was 'read by the City Secretary. The Mayor Pro Tem
presented to the Council a communication in writing pertaining to said proposed
ordinance, as follows:
"Corpus Christi, Texas
"TO THE MEMBERS OF THE CITY COUNCIL
Corpus Christi, Texas
Minutes
Special Council Meeting
July 9, 1975
Page 2
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 resolu-
tion shall be read at three meetings of the City Council; I, therefore, 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,
/s/ Bill Tipton
MAYOR PRO TEM
THE CITY OF CORPUS CHRISTI, TEXAS"
Commissioner Lozano moved that the Charter provision prohibiting
ordinances from being passed finally on the date introduced be suspended for the
reasons stated in the written request of the Mayor Pro Tem and stated in the
emergency clause of the ordinance. The motion was carried by an unanimous vote
by the City Council, viz:
AYES: Commissioners Sample, de Ases, Gill, Gulley, and Lozano.
NAYS: None.
The Mayor Pro Tem requested that the records show that he voted Aye.
This was done.
Commissioner Gulley moved that the ordinance be passed finally. The
motion was seconded by Commissioner Sample. The motion was carried by the follow-
ing vote:
AYES: Commissioners Sample, de Ases, Gill, Gulley, and Lozano.
NAYS: None.
The Mayor Pro Tem requested that the records show that he voted Aye.
This was done.
The Mayor Pro Tem announced that the ordinance had been passed. The
Ordinance is as follows:
ORDINANCE NO. 12696
BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS, AUTHORIZING THE
ISSUANCE:OF $2,000,000 CITY OF CORPUS CHRISTI, CERTIFICATES OF OBLIGATION, SERIES
1975; PROVIDING FOR THE LEVY, ASSESSMENT, AND COLLECTION OF A TAX SUFFICIENT TO
PAY THE INTEREST ON SAID CERTIFICATES AND TO CREATE A SINKING FUND FOR THE
REDEMPTION THEREOF AT MATURITY; PRESCRIBING THE FORM OF SAID CERTIFICATES OF
OBLIGATION; ORDAINING OTHER MATTERS RELATING TO THE SUBJECT; AND DECLARING AN
EMERGgNCY. " ,
There being no further business to come before the Council, motion by
Lozano, seconded by Sample and passed, that the Special meeting be adjourned at
11:35 a.m., July 9, 1975.
THE STATE OF TEXAS X
COUNTY OF NUECES X
CITY OF CORPUS CHRISTI
TO THE MEMBERS OF THE CITY COUNCIL, THE CITY MANAGER, THE CITY
SECRETARY AND THE CITY ATTORNEY TO THE CITY OF CORPUS CHRISTI, TEXAS:
NOTICE is hereby given that a special meeting of the City Council
of the City of Corpus Christi, Texas, will be held in the City of Corpus
Christi, Texas, in the Council Chamber of the City Hall, at 11:00
o'clock, A.SM , on the 9th day of July , 1975 , for the purpose
of
Issuance of Certificates of Obligation in the amount of approxi-
mately $2,000,000 to purchase the outstanding assets of Area 1 & 2
of the Corpus Christi Municipal Gas Corporation.
DATED this the 9th day of July , 197 5
JASON LUBY, Mayor
City of Corpus Christi, Texas
CONSENT TO MEETING
We, the undersigned members of the City Council, the City Manager,
the City Secretary and the City Attorney to the City of Corpus Christi, Texas,
hereby accept service of the foregoing notice, waiving any and all irregularities
in such service and consent and agree that said meeting shall bt the time and
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place therein named and for the purpose therein stated.
ON, -'or Pro Tem
EDUARDO DE ASES, Commissioner
WARD SAMPLE, C
sioner
BOB GULL , Commissioner
RUTH G
Ar
GA: LOZA I,
Commissioner
ioner
MICHAEL MAY, Acting City A
BI G. READ, City Secretary
torney