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HomeMy WebLinkAbout03667 RES - 02/24/1954THE STATE OF TEXAS COUNTY OF NUECFS , CITY OF CORPUS CHRISTI j On this the 24th day of February, 1954, the City Council of the City of Corpus Christi, Texas, convened in Regular meeting, with i the following members of said Council present, to -wit: A. A. Lichtenstein, Mayor, 4 J. S. Naismith, Ellroy King, Commissioners, P. C. Callaway, W. James Brace, T. Ray Kring, City Secretary, li with the following absent: None , constituting a quorum, at which time the following among other business was transacted: Mr. Russell E, McClure presented for the consideration of {the Council a resolution. The resolution was read by the City Secretary. The Mayor presented to the Council a communication in writing pertaining to said ;'proposed resolution, as follows: Corpus Christi, Texas, February 24, 1954. TO THE MEMBERS OF THE CITY COUNCIL Corpus Christi, Texas. Gentlemen: For the reasons set forth in the emergency clause of the foregoing resolution, 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. I there- fore hereby request that you suspend said Charter rule or requirement and adopt this resolution finally on the date it is introduced, or at the present meeting of the City Council. Respectfully, /s/ A. A. Lichtenstein, Mayor City of Corpus Christi, Texas. Commissioner Naicmith made a motion that the Charter provisions prohibiting resolutions from being passed finally on the Idate introduced be suspended for the reasons stated in the written request of I l i� ;A the Mayor and stated in the emergency clause of the resolution. The motion was seconded by Mr. Kinq The motion was carried by unanimous ii vote by the City Council, viz: AYES: Commissioners Naismith, King, Callaway and Brace. NAYES: None. Commissioner Callaway made a motion that the resolution be adopted finally. The motion was seconded by Commissioner Brace The motion was carried by the following vote: AYES: Commissioners Naismith, King, Callaway and Brace. NAYES: None. The Mayor requested that the records show that he vote Aye. This was done. The Mayor announced that the resolution had been adopted. The resolution is as follows: RESOLUTION 140- 3667 AWARDING TO THE PURCHASER $7,000,000.00 FIRST MORTGAGE WATERWORKS REVENUE BONDS, SERIES 1954, AND DECLARING AN EMERGENCY. WHEREAS, the City Council of the City of Corpus Christi, Texas, has under consideration the sale of its First Mortgage Waterworks Revenue Bonds, Series 1954, more particularly described in the Official Offering of the City, and maturing serially throughout the years 1965 to 1983, 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 John Nuveen & Co. A. C. Allen & Co., Inc, Rauscher, Pierce & Co. and Associates (hereinafter called the "Syndicate "), as the highest and beat bid, which bid is par and accrued interest to date of delivery, plus a premium of $ 2,275.00 , for the bonds to bear interest at rates as follows: and Bonds maturing in the years 1965 to 1968 , both incl., 3Y per annum; Bonds maturing in the years 19 69 to 19 83, 3 per annum; Bonds maturing in the years 19_ to 19 , per annum; Bonds maturing in the years 19_ to 19 , " " per annum; Bonds maturing in the years 19 to 19 , " per annum; WHEREAS, it is considered to be to the best interest of the City that said bid be accepted; CHRISTI, TEXAS: BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS 1. That the bid of said Syndicate for said bonds, being a bid of par and accrued interest to date of delivery, plus a premium of 2.2TS.00 be and the same is hereby accepted. 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 Syndicate 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 public emergency and an imperative public necessity requiring the suspension of the Chanter 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 i 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 resolution take effect and be in full 1,force and effect from and after its adoption, it is accordingly so resolved. ADOPTED AND APPROVED this t* 24th day,.of February, 1954. Mayor, City of Corpus Christi, Texas. 4 ATTEST: i City Secretary, Cityfof Corpus Chri , Texas. it !,APPROVED AS TO LEGAL FORM:, ;as U The foregoing resolution has been approved as to form and correctness this 24th day of February, 1954• City A� orney.