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HomeMy WebLinkAboutMinutes City Council - 04/21/1976 - Specialw :..MINUSES CITY OF CORPUS CHRISTI, TEXAS SPECIAL COUNCIL MEETING April 21, 1976 11:00 A.M. PRESENT: Mayor Jason Luby Mayor Pro Tem Bill Tipton Council Members: Eduardo de Ases City Manager R. Marvin Townsend Ruth Gill City Attorney J. Bruce Aycock Bob Gulley City Secretary Bill G. Read Gabe Lozano, Sr. Edward Sample ' Mayor Luby called the meeting to order in the Council Chambers of City Hall. City Secretary Read called the roll and stated there was a quorum of the Council and the necessary Charter Officers present to have a legally constituted meeting. Mayor Luby announced the bid opening for the sale of $3,500,000 of General Obligation Bonds authorized at the election on December 9, 1972. Director of Finance Mr. Harold Zick opened and read bids from the following firms: City Bank of North America, New York City; Corpus Christi National Bank, Corpus Christi; First City National Bank of Houston; First National Bank of Dallas; Guaranty National Bank & Trust, Corpus Christi; Harris Trust & Savings, Chicago; John Nuveen & Co., Inc., Chicago; Merrill Lynch, Pierce, Fenner & Smith, Inc. and Associates; Republic National Bank of Dallas; and Weedan & Co., Houston. The Special Meeting was recessed at 11:25 a.m. for tabulation of the bids. The Special Council Meeting resumed at 11:42 a.m. Mr. Zick announced that the low bidder was the First City National Bank of Houston, with an effective rate of interest of 4.982963%. (Bid Tabulation #i14-76) Mr. Hobb McCall, the City's bond attorney: explained the procedures to be followed. Mr. Luby, Mayor, presented for the consideration of the Council a resolution. , The resolution was read by the City Secretap ry. The Mayor resented to the Council a communication in writing pertaining to said proposed resolution, as follows: "Corpus Christi, Texas "TO THE CITY COUNCIL Corpus Christi, Texas Gentlemen: -The public importance and pressing need for the permanent improvements to be constructed by the use of the proceeds of bonds contemplated to be sold pursuant to an offering made by an Official Statement to be authorized, ratified and approved by a - resolution create an emergency and an imperative public necessity requiring the suspension of rules and Charter provisions requiring resolutions to be considered and voted upon at three regular meetings. I, therefore, request that the City Council adopt the proposed resolution authorizing, ratifying and approving the use of said Official Statement as an emergency measure. You -will please consider this request in connection with the Minutes Special Council Meeting April 21, 1976 Page 2 resolution which is to be introduced for adoption by the City Council on this subject. "Yours very truly, /s/ Jason Luby Mayor" Council Member Lozano moved that the Charter provision prohibiting resolutions from being adopted finally 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 resolution. The motion was seconded by Council Member Gill. The motion was carried by an unanimous vote by the City Council, viz: • AYES: Council Members de Ases, Gill, Gulley, Lozano, Sample and Tipton. NAYS: None. 4 • The Mayor requested that the records show that he voted Aye. This was done. Council Member Tipton moved that the resolution be adopted finally. The motion was seconded by Council Member Gill. The motion was carried by the following vote: AYES:. Council Members de Ases, Gill, Gulley, Lozano, Sample and Tipton. NAYS: None. The Mayor requested that the records show that he voted Aye. This was done. The Mayor announced that the resolution had been passed. The resolution is as follows: RESOLUTION NO. 13140 APPROVING THE FORM OF THE OFFICIAL STATEMENT PERTAINING TOfCITY OF CORPUS CHRISTI, TEXAS, GENERAL IMPROVEMENT BONDS, SERIES 1976, AND AUTHORIZING, RATIFYING AND APPROVING THE OFFICIAL STATEMENT AND THE USE THEREOF IN THE OFFERING AND SALE OF SAID BONDS. Mr.1 Luby, Mayor, presented for the consideration of the Council an ordinance. The ordinance was read by the City Secretary. The Mayor presented to the Council a communication in writing pertaining to said proposed ordinance, as follows: "Corpus Christi, Texas "TO THE CITY COUNCIL Corpus Christi, Texas Gentlemen: The public importance and pressing need for the permanent improvements to be constructed by the use of the proceeds of bonds contemplated to be issued pursuant to an ordinance create an emergency and an imperative public necessity requiring the suspension of rules and Charter provisions requiring ordinances to be considered and voted upon at three regular meetings. I, therefore, request that the City Council pass the proposed ordinance authorizing the issuance of bonds as an emergency measure. You will please consider this request in connection with the ordinance which is to be introduced for passage by the City Council on this subject. "Yours very truly, /s/ Jason Luby Mayor" 1 s .1 Council Meeting •'Ap��i 21, 1976 Page 3 w • Council Member Lozano moved that the Charter provision prohibiting ordinances from being passed finallion 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 Councilman Gill. The motion was carried by an unanimous vote by the City Council, viz: AYES: Council Members de Ases, Gill, Gulley, Lozano, Sample and Tipton. NAYS: None. The Mayor requested that the records show that he voted Aye. This was done. Council Member Lozano moved that the ordinance be passed finally. The motion was seconded by Council Member Gill. The motion was carried by,the following vote: AYES: Council Members de Ases, Gill, Gulley, Lozano, Sample and Tipton. NAYS: 'None. The Mayor requested that the records show that he voted Aye. This was done. The Mayor announced that the ordinance had been passed. The ordinance is as follows: ORDINANCE NO. 13141 BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS, PROVIDING FOR THE ISSUANCE OF $3,500,000 CITY OF CORPUS CHRISTI, TEXAS, GENERAL IMPROVEMENT BONDS, SERIES 1976, BEARING INTEREST AT THE RATES HEREINAFTER SET FORTH, AND PROVIDING FOR THE LEVY, ASSESSMENT AND COLLECTION OF A TAX SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AND TO CREATE A SINKING FUND FOR THE REDEMPTION THEREOF AT MATURITY; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH AND DECLARING AN EMERGENCY. There being no further business to come before the Council, on motion by de Ases, seconded by Gulley and passed unanimously, the Special Council Meeting of April 21, 1976 adjourned at 11:55 a.m. a