HomeMy WebLinkAbout03669 RES - 02/24/1954THE STATE OF TEXAS
COUNTY OF NEAME,S
CITY OF CORPUS CHRISTI
On this the 24th day of February, 1954, the City Council
of the City of Corpus Christi, Texas, convened in Regular meeting,
with the following members of said Council present, to -wit:
A. A. Lichtenstein, Mayor,
J. S. Naismith,
Ellroy King,
Commissioners,
P. C. Callaway,
W. James Brace,
T. Ray Kring, City Secretary,
with the following absent: None , constituting
a quorum, at which time the following among other business was transacted: i
Mr. Russell E. McClutAresented 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
i Corpus Christi, Texas,
Gentlemen:
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For the reason 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 r
shall be passed finally on the date it ie 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,
Isl A. A. Lichtenstein, Mayor Q
City of Corpus Christi, Texas.
Commissioner a motion that the
Charter provisions prohibiting resolutions from being passed finally on the
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date introduced be suspended for the reasons stated in the written request of
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the Mayor and stated in the emergency clause of the resolution. The motion
was seconded by Mr. laicm;rh The motion was carried by unanimous
vote by the City Council, viz:
AYES: Commissioners Naismith, King, Callaway and Brace.
NAYES: None.
Commissioner Naismith made a motion that the
resolution be adopted finally. The motion was seconded by Commissioner
King The motion was carried by the following vote:
AYES: Commissioners Naismitb, King, Callaway and Brace.
NAYES: None.
The Mayor requested that the records show that be vote
Aye. This was done.
The Mayor announced that the resolution had been adopted.
The resolution is as follows:
RESOLUTION NO. 3669
AWARDING TO THE PURCHASER $2,300,000.00
GENERAL OBLIGATION BOIMS, SERIES 1954, AND
DECLARING AN EMERGENCY.
WHEREAS, the City Council of the City of Corpus Christi,
Texas, has under consideration the sale of its General Obligation Bonds,
Series 1954, more particularly described in the Official Offering of the City,
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and maturing serially throughout the years 1955 to 19$4, both inclusive, as
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shown in such Official Offering; and
WHEREAS, after having received and considered all of the
offers, the City Council considers the offer of
Merrill, Lynch, Pierce, Fenner & Beane — et al
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(hereinafter called the "Sundicate "), as the highest and best bid, which
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bid is par and accrued interest to date of delivery, plus a premium of
$ 1,777,77 , for the bonds to bear interest at rates as follows:
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and
Bonds maturing in the years 1955 to 1964, both incl., 313/4% per annum;
Bonds maturing in the years 1%5 to 1%7, L2 4% per annum;
Bonds maturing in the years 1968 to 1979, 3 per annum;
Bonds maturing in the years 1980 to 1964, 2 q/4% per annum;
Bonds maturing in the years 19 to 19—, " per annum;
WF]REAS, it is considered to be to the best interest of
the City that said bid be accepted;
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS
CHRISTI, TEXAS:
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
$ 1,777,77 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 General Obligation Bonds are necessary for the orderly development and growth
of the City of Corpus Christi, Texas, creates a public emergency and an im-
perative public necessity requiring the suspension of the Charter Rule pro-
viding that no rordinance or resolution shall be passed finally on the date it 3
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 resolution take effect and be in full
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force and effect from and after its adoption, it is accordingly so resolved.
ADOPTED AND APPROVED thipthe 24th day,of February, 1954•
Mayor, it`4 of Corpus Christi, Texas.
ATTEST: + %
City Secretary, Cif of G rpus ChXisil, Texas.
APPROVED AS TO LEGAL FORM:
City Attorney, City of Corpus • is ti, x s.
The foregoing resolution has been approved as to form and
correctness this 24th day of February, 1954-
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C ty t cy.