HomeMy WebLinkAbout03690 ORD - 03/17/1954TAE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI
On this the ZJ(day of March, 1954, the City Council
of the City of Corpus Christi, Texas, convened in meeting,
with the following members of said Council present, t-tl":
A. A. Lichtenstein, Mayor,
J. S. Naismith,
Ellroy King,
Commissioners,
P. C. Callaway,
W. James Brace,
T. Ray Kring, City Secretary,
Russell E. McClure, City Manager,
I. M. Singer, City Attorney,
with the following absent: .d✓h 2 , constituting
a quorum, at which time the following among other business was transacted:
Commissioner / ',rs, ^ ,�ypresented for the con -
siderstion 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,
March f q , 1954•
TO TAE CITY COUNCIL
CORPUS CHRISTI, TEXAS.
Gentlemen:
The public importance and pressing need for the permanent
improvements to be constructed by use of the proceeds of the bonds voted at
the election held on November 24, 1953, create an emergency and an imperative
public necessity requiring the suspension of rules and Charter provisions re-
quiring 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 $765,000.00 Street Improvement Bonds; $200,000.00
Street Right-of-Way Bonds; $1,015,000.00 Storm Sewer Bonds; $245,000.00 Fire
Station Bonds and $75,000.00 Traffic Control System Bonds, as an emergency.
You will please consider this request in connection with the ordinance which
has been introduced in the City Council on this subject.
Yours very truly,
/s/ A. A. Lichtenstein
Mayor."
Commissioner ' - made a motion that the
Charter provision prohibiting ordinances from TSeing passed finally on the
date introduced be suspended for the reasons stated in the written request
of the Mayor and stated in the emerge cy clause of the ordinance. The motion
R
was seconded by Commissioner v. The motion was carried by a
i
unanimous vote by the City Council, viz
AYES: Commissioners Naismith, King, Callaway and Brace.
NOES: None.
The Mayor requested that the records show that he voted
Aye. This was done. I
Commissioner made a motion that the
or finance be passed finally. The motion was seconded by Commissioner
i
,e. The motion was carried by the following vote:
AYES: Commissioners Naismith, King, Callaway and Brace.
NOES: 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 N0. 34
BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS,
PROVIDING FOR THE ISSUANCE OF CITY OF CORPUS CHRISTI,
TEXAS, STREET IMPROVEMENT BONDS, SERIES 1954, IN THE
AGGREGATE AMOUNT OF $765,000.00; CITY OF CORPUS CHRISTI,
TEXAS, STREET RIGHT -OF -WAY BONDS, SERIES 1954, IN THE
AGGREGATE AMOUNT OF $200,000.00; CITY OF CORPUS CHRISTI,
TEXAS, STORM SEWER BONDS, SERIES 1954, IN THE AGGREGATE
AMOUNT OF $1,015,000.00; CITY OF CORPUS CHRISTI, TEXAS,
FIRE STATION BONDS, SERIES 1954, IN THE AGGREGATE AMOUNT
OF $245,000.00 and CITY OF CORPUR CHRISTI, TEXAS, TRAFFIC
CONTROL SYSTEM BOND, SERIES 1954, IN THE AGGREGATE AMOUNT
OF $75,000.00, 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.
WHEREAS, heretofore on the 5th day of November, 1953,
the City Council of the City of Corpus Christi, Texas, passed an ordinance
G
calling an election to be held in said City on the 24th day of November, 1953,
on the following propositions:
PROPOSITION N0. 4
"Shall the City Council of the City of Corpus
Christi, Texas, be authorized to issue the bonds of said
City in the amount of $3,500,000.00, maturing serially in
such installments as the City Council may prescribe, the
maximum maturity being not more then Thirty (30) years
from their date, bearing interest at a rate not to exceed
Five (5 %) per cent per annum, payable annually or semi-
annually, and to levy a tax on all taxable property within
said City sufficient to pay the annual interest and provide
a sinking fund to pay the bonds at maturity, for the pur-
pose of improving the streets within said City, as authoriz-
ed by the Constitution and laws of the State of Texas and
the Charter of said City."
PROPOSITION NO. 5
"Shall the City Council of the City of Corpus
Christi, Texas, be authorized to issue the bonds of said
City in the amount of $600,000.00, maturing serially in
such installments as the City Council may prescribe, the
maximum maturity being not more than Thirty (30) years
from their date, bearing interest at a rate not to exceed
Five (5 %) per cent per annum, payable annually or semi-
annually, and to levy a tax on all taxable property within
said City sufficient to pay the annual interest and provide
a sinking fund to pay the bonds at maturity, for the pur-
pose of purchasing street rights -of -pay, as authorized by
the Constitution and laws of the State of Texas and the
Charter of said City."
PROPOSITION N0. 6
"Shall the City Council of the City of Corpus
Christi, Texas, be authorized to issue the bonds of said
City in the amount of $4,975,000.00, maturing serially in
such installments as the City Council may prescribe, the
maximum maturity being not more than Thirty (30) years
from their date, bearing interest at a rate not to exceed
Five (50 per cent per annum, payable annually or semi-
annually, and to levy a tax on all taxable property within
said City sufficient to pay the annual interest and provide
a sinking fund to pay the bonds at maturity, for the pur-
pose of improving the streets of said City by the con-
struction of storm sewers, as authorized by the Constitution
and laws of the State of Texas and the Charter of said City."
PROPOSITION N0. 8
"Shall the City Council of the City of Corpus
Christi, Texas, be authorized to issue the bonds of said
City in the amount of $720,000.00, maturing serially in
such installments as the City Council may prescribe, the
maximum maturity being not more than Thirty (30) years
from their date, bearing interest at a rate not to exceed
Five (5 %) per cent per annum, payable annually or semi-
annually, and to levy a tax on all taxable property within
said City sufficient to pay the annual interest and provide
a sinking fund to pay the bonds at maturity, for the pur-
pose of constructing and equipping fire stations within
said City, as authorized by the Constitution and laws of
the State of Texas and the Charter of said City."
is
PROPOSITION NO. 9
"Shall the City Council of the City of Corpus
Christi, Texas, be authorized to issue the bonds of said
City in the amount of $201,000.00, maturing serially in
such installments as the City Council may prescribe, the
maximum maturity being not more than Thirty (30) years
from their date, bearing interest at a rate not to exceed
Five (5 %) per cent per annum, payable annually or semi-
annually, and to levy a tax on all taxable property within
said City sufficient to pay the annual interest and provide
a sinking fund to pay the bonds at maturity, for the pur-
pose of permanently improving the streets of the City by
the installation of traffic control systems, as authorized
by the Constitution and laws of the State of Texas end the
Charter of said City."
i and
3 WHEREAS, said election was duly and legally held in the
City of Corpus Christi, Texas, on the 24th day of November, 1953, at which
election a majority of the legally qualified electors owning taxable property
in said City and who had duly rendered the same for taxation, voting at said
election, sustained the propositions to issue the bonds hereinafter described
by the following vote;
PROPOSITION N0. 4
"FOR THE ISSUANCE OF STREET IMPROVE MT BONDS" 3226 Votes;
"AGAINST THE ISSUANCE OF STREET IMPROVEMENT
BONDS" 1729 Votes.
PROPOSITION NO. 5
"FOR THE ISSUANCE OF STREET RIGHT -OF WAY
BONDS" 2853 Votes;
"AGAINST THE ISSUANCE OF STREET RIGHT -OF-
WAY BONDS" 2041 Votes.
PROPOSITION N0. 6
"FOR THE ISSUANCE OF STORM SEWER BONDS" 3122 Votes;
"AGAINST THE ISSUANCE OF STORM SEWER BONDS" 1823 Votes.
PROPOSITION N0. 8
"FOR THE ISSUANCE OF FIRE STATION BONDS" 2977 Votes;
" AGAINST THE ISSUANCE OF FIRE STATION BONDS" 1959 Votes.
PROPOSITION NO. 9
"FOR THE ISSUANCE OF TRAFFIC CONTROL SYSTEM
BONDS" 2701 Votes;
"AGAINST THE ISSUANCE OF TRAFFIC CONTROL
SYSTEM BONDS" 2159 Votes,
as is reflected in the election returns heretofore filed with the City
Secretary; and
WHEREAS, it is deemed advisable and to the best interest
of the City that only $765,000.00 of said authorized Street Improvement Bonds;
$200,000.00 of said authorized Street Right-of-Way Bonds; $1,015,000.00 of said
authorized Storm Sewer Bonds; $245,000.00 of said authorized Fire Station Bonds
and $75,000.00 of said authorized Traffic Control System Bonds be issued and
sold at this time;
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS
CHRISTI, TEXAS:
i
PERTAINING TO THE STREET WROVEMENT BONDS
1. That the bonds of said City to be called "City of
Corpus Christi, Texas, Street Improvement Bonds, Series 1954 ", be issued under i
and by virtue of the Constitution and laws of the State of Texas, and the
Charter of said City, for the purpose of improving the streets within said
i
City, in the principal amount of Seven Hundred Sixty Five Thousand ($765,000.00
Dollars.
2. That said bonds shall be numbered from One (1) to
Seven Hundred Sixty Five (765), both inclusive, of the denomination of One
Thousand ($1,000.00) Dollars each, aggregating Seven Hundred Sixty Five
j
Thousand ($765,000.00) Dollars.
3. That said bonds shall be dated February 1, 1954, and
j shall become due and payable aerially as follows: ?
BONDS NUMBERS
MATURITY DATES
AMOUNTS
1 to 20, both incl.,
February 1, 1955,
$ 20,000.00
21 to 40,
February 1, 1956,
20,000•00
41 to 60,
February 1, 1957,
20,000.00
61 to 85, "
February 1, 1958,
25,000.00
86 to 110, " "
February 1, 1959,
25,000.00
111 to 14o, "
February 1, 1960,
30,000.00
141 to 170,
February 1, 1961,
30,000.00
171 to 210, "
February 1, 1962,
40,000.00
211 to 255,
February 1, 1963,
45,000.00
256 to 300, °
February 1, 1964,
45,000.00
301 to 350,
February 1, 1965,
50,000.00
351 to 400,
February 1, 1966,
50,000.00
4ol to 455,
February 1, 1967,
55,000.00
456 to 510, " "
February 17 1968,
55,000.00
511 to 570, "
February 1, 1969,
60,000.00
571 to 630,
February 1, 1970,
60,000.00
631 to 695, " "
February 1, 1971,
65,000.00
696 to
February 1, 1972,
70,000.00
follows:
4. That said bonds shall bear interest at the rates as
Bonds Nos. 1 to 300, both Incl., 3 -3/4% per annum;
Bonds Nos. 301 to 455, " 2 -3/4% per annum;
Bonds Nos. 456 to 765, " 3% per annum,
payable February 1, 1955, and semi- annually thereafter on August let and
February let of each year.
5. In Bonds Numbers Three Hundred One (301) to Seven
Hundred Sixty Five (765), both inclusive, the City reserves the option of
calling each such bond for redemption prior to maturity on any interest pay-
ment date on and after February 1, 1964, at par and accrued interest to date
so fixed for redemption, plus a premium of 2j%, such premium to ne reduced
on February 1, 1965 to 2%, with a further reduction of 1/2 of 1% on February
^1st of each year through February 1, 1968. There shall be no premium on such
4
14bonds which may be redeemed February 1, 1969, or on any interest payment date
q
thereafter. Thirty days' notice of such call shall be given in writing to t?e
I of payment and notice shall be published in a financial publication
;published in the City of New York, New York. Said notice shall appear in said
'+publica.tion in at least one issue, the date of said issue being not less than
'thirty days prior to the date so fixed for redemption. If any such bond is
called for redemption in said manner end if funds sufficient to pay the re-
]'demption price shall have been duly placed in the banks of payment by the date
i`
!'fixed for redemption, it shall not thereafter bear interest. If fewer than all
of the optional bonds are called for redemption, they shall be called in their
�4
inverse numerical order.
6. The form of said bonds shall be substantial�yy as
follows:
1,000.00
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF N[JECES
CITY OF CORPUS CHRISTI
STREET IMPROVEMENT BOND
SERIES 1954
The City of Corpus Christi, in the County of Nueces, State
1�of Texas, a municipal corporation duly incorporated under the laws of the State
',pf Texas, for value received, hereby promises to pay to the bearer hereof, or,
�Af this bond be registered as to principal, to the registered holder thereof,
'on the let day of February, 19 , the sum of
1'
't
i!
ONE THOUSAND DOLLARS
in lawful money of the United States of America, with interest thereon from
date hereof at the rate of (*%) per cent per annum, interest payable February
i
1, 1955, and semi - annually thereafter on the 1st day of August and the 1st day 1
of February of each year, both principa; and interest payable upon presentation
and surrender of bond or proper coupon at the Corpus Christi National Bank,
Corpus Christi, Texas, or, at the option of the holder, at the Barris Trust
and Savings Bank, Chicago, Illinois, and the City of Campus Christi, Texas, is
hereby held and firmly bound and its faith and credit and all taxable property
in said City are hereby pledged for the prompt payment of the principal of this
bond at maturity and the interest thereon as it accrues.
This bond is one of a series Df Seven Hundred Sixty Five
(765) bonds of like tenor and effect, except as to number, interest rate,
maturity and right of prior redemption, numbered from One (1) to Seven Hundred
Sixty Five (765), both inclusive, of the denomination of One Thousand
($1,000.00) Dollars each, aggregating Seven Hundred Sixty Five Thousand
($765,000.00) Dollars, issued for the purpose of improving the streets within
said City, under and by virtue of the Constitution and laws of the State of
Texas and the Charter of said City, and pursuant to an ordinance passed by the
City Council of the City of Corpus Christi, Texas, which ordinance is duly of
_record in the minutes of said City Council.
The date of this bond in conformity with the ordinance
above mentioned is February 1, 1954.
This bond may be registered as to principal only in accor-
dance with the provisions endorsed hereon.
—(The City reserves the option of calling this bond for re-
demption prior to maturity on any interest payment date on and after February
1, 1964, at par and accrued interest,to date so fixed for redemption, plus a
premium of 211 such premium to be reduced on February 1, 1965 to 21%, with a
further reduction of 1J2 of 1% on February 1st of each year through February
1, 1968. There shall be no premium on such bonds which may be redeemed
February 1, 1969, or on any interest payment date thereafter. Thirty days
notice of such call is to be given in writing to the places of payment and
said notice is to be published in a financial publication published in the f
City of New York, New York. Said notice shall appear in said publication in
at least one issue, the date of said issue being not less than thirty days
prior to the date so fixed for redemption. If such bond is called for re-
demption in said manner and if funds sufficient to pay the redemption price
shall have been duly placed in the banks of payment by the date fixed for
redemption, it shall not thereafter bear interest. If fewer than all of the
optional bonds are called for redemption, they shall be called irtheir inverse
numerical order.)
AND IT IS HEREBY CERTIFIED AND RECITED that the issuance
ii, of this bond, and the series of which it is a part, is duly authorized by law
and by a vote of the resident, qualified electors who own taxable property in
said City and who had duly rendered the same for taxation in the City of
Corpur Christi, Texas, voting at an election held for that purpose within
j;
said City on the 24th day of November, 1953; that all acts, conditions and
things required to be done precedent to and in the issuance of this series
of bonds, and of this bond, have been properly done and performed and have
happened in regular and due time, form and manner as required by law; that ?,
sufficient and proper provision for the levy and collection of taxes has
been made; which when collected shall be appropriated exclusively to the
payment of this bond and the series of which it is a part, and to the pay-
ment of the interest coupons hereto annexed as the same shall become due; and
that the total indebtedness of said City of Corpus Christi, Texas, including
the entire series of bonds of which this is one, does not exceed any consti- S
tutional,statutory or charter limitation.
i
IN WITNESS WHEREOF, the City of Corpus Christi, Texas,
by its City Council has caused its corporate seal to be affixed hereto, and
this bond to be signed by the Mayor and countersigned by the City Secretary
�*nd the interest coupons hereto attached to be executed by the lithographed
`i
�'or printed facsimile signatures of the Mayor and City Secretary as of the
n.
lst day of February, 1954.
Mayor, City of Corpus Christi, Texas.
COUNTERSIGNED:
City Secretary, City of Corpus Christi, Texas.
*(Bonds Nos. 1 to 300, both incl., 3 -3/4% per annum;
Bonds Nos. 301 to 455, " 2 -3/4% per annum;
Bonds Nos. 456 to 765, " 3% per annum).
* *(This paragraph should be omitted from Bonds Nos. 1 to 300, both incl.)
I
7. The form of coupon shall be substantially as follows:
NO. $
ON THE 1ST DAY OF
, 19
The City of Corpus Christi, Texas, will pay to bearer
*-(unless the bond to which this coupon is attached shall have been previously
redeemed in accordance with its terms) at the Corpus Christi National Bank,
Corpus Christi, Texas, or, at the option of the holder, at the Harris Trust
and Savings Bank, Chicago, Illinois, the sum of
($ ) Dollars, in lawful money of the United States of America,
being months' interest due that day on "City of Corpus Christi, Texas,
Street Improvement Bond, Series 1954 ", dated February 1, 1954, No.
City Secretary Mayor.
*(This parenthetical expression should be printed only in coupons which mature
August 1, 1964, and subsequent).
PERTAINING TO THE STREET RIGHT -OF -KAY BONDS
8. That the bonds of said City to be called "City of
Corpus Christi, Texas, Street- Rtght -of -Way Bonds, Series 1954 ", be issued
under and by virtue of the Constitution and laws of the State of Texas, and
the Charter of said City, for the purpose of purchasing street rights -of -way,
in the principal amount of Two Hundred Thousand ($200,000.00) Dollars.
9. That said bonds shall be numbered from One (1) to Two
Hundred (200), both inclusive, shall be of the denomination of One Thousand
($1,000.00) Dollars each, aggregating Two Hundred Thousand ($200,000.00)
10. That said bonds shall be dated February 1, 1954, and
shall become due and payable serially as follows:
1` BONDS NUMBERS
1 to 157 both incl.,
16 to 30, "
31 to 45, "
46 to 6o, "
61 to 752 "
76 to 9o,
91 to 105,
106 to 120, "
N 121 to 1352 "
: 136 toil50, "
?a 151 to 175, "
176 to 200, "
MATURITY DATES
February 1, 1973,
February 1, 1974,
February 1, 1975,
February 1, 1976,
February 1, 1977,
February 1, 1978,
February 1, 1979,
February 1, 1980,
February 11 1981,
February 1, 1982,
February 1, 19832
February 11 1984,
AMOUNTS
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
25,000.00
25,000.00
11. That said bonds shall bear interest at the rates as
follows:
Bonds Nos. 1 to 105, both incl., 3% per annum;
Bonds Nos. 106 to 200, 2 -3/4% per annum,
payable February 1, 1955, and semi - annually thereafter on August 1st and
u,
February 1st of each year.
12. The City reserves the option of calling each such
bond for redemption prior to maturity on any interest payment date on and
after February 1, 1964, at per and accrued interest to date so fixed for re-
demption, plus a premium of, such premium to be reduced on February 1,'
1965 to 2%, with a further reduction of 1/2 of 1% on February 1st of each
year through February 1, 1968. There shall be no premium on such bonds which
ji
may be redeemed February 1, 1969, or on any interest payment date thereafter.
Thirty days' notice of such call shall be given in writing to the places of
payment and notice shall be published ina financial publication published in
the City of New York, New York. Said notice shall appear in said publication
in at least one issue, the date of said issue being not less than thirty days
1s
prior to the date so fixed for redemption. If any such bond is called for
redemption in said manner and if funds sufficient to pay the redemption price
shall have been duly placed in the banks of payment by the date fixed for re-
ii demption, it shall not thereafter bear interest. If fewer than all of the
optional bonds are called for redemption, they shall be called in their in-
verse numerical order.
follows:
N0,
13• The form of said bonds shall be substantially as
$1,000.00
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF NUECES !
CITY OF CORPUS CHRISTI
STREET RIGHT-OF-WAY BOND
SERIES 1954
i9 The City of Corpus Christi, in the County of Nueces, State f
of Texas, a municipal corporation duly incorporated under the laws of the State
i'
of Texas, for value received, hereby promises to pay to the bearer hereof, or, P
t
if this bond be registered as to principal, to the registered holder thereof,
on the 1st day of February, 19 , the sum of
pa
ONE THOUSAND DOLLARS
in lawful money of the United States of America, with interest thereon from
date hereof at the rate of (*%) per cent per annum, interest payable February
1, 1955, and semi - annually thereafter on the 1st day of August and the lst day;
of February of each year, both principal and interest payable upon presentation
i
and surrender of bond or proper coupon at the Corpus Christi National Bank,
Corpus Christi, Texas, or, at the option of the holder, at the Harris Trust
and Savings Bank, Chicago, Illinois, and the City of Corpus Christi, Texas, is{
hereby held and firmly bound and its faith and credit and all taxable property`
in said City are hereby pledged for the prompt payment of the principal of this.'
i
bond at maturity and the interest thereon as it accrues.
1
This bond is one of a series of Two Hundred (200) bonds
1
of like tenor and effect, except as to number, interest rate and maturity, +
numbered from One (1) to Two Hundred (200), both inclusive, of the denomi-
nation of One Thousand ($1,000.00) Dollars each, aggregating Two Hundred
Thousand ($200,000.00) Dollars, issued for the purpose of purchasing street
rights -of -way, under and by virtue of the Constitution and laws of the State
of Texas and the Charter of said City, and pursuant to an ordinance passed by "
the City Council of the City of Corpus Christi, Texas, which ordinance is of
record in the minutes of said City Council. !
The date of this bond in conformity with the ordinance
above mentioned is February 1, 1954.
This bond may be registered as to principal only in accor-
dance with the provisions endorsed hereon.
The City reserves the option of calling this bond for
redemption prior to maturity on any interest payment date on and after February
1, 1964, at par and accrued interest to date so fixed for redemption, plus a
premium of "111, such premium to be reduced on February 1, 1965 to 2%, with a
further reduction of 1/2 of 1%, on February 1st of each year through February
1, 1968. There shall he no premium on such bonds which may be redeemed
February 1, 1969, or on any interest payment date thereafter. Thirty days
notice of such call is to be given in writing to the places of payment and
said notice is to be published in a finsncial publication published in the
City of New York, New York. Said notice shall appear in said publication in
at least one issue, the date of said issue being not less than thirty days
prior to the date so fixed for redemption. If such bond is called for re-
demption in said manner and if funds sufficient to pay the redemption price
shall have been duly placed in the banks of payment by the date fixed for
redemption, it shall not thereafter bear interest. If fewer than all of the
optional bonds are called for redemption; they shall be called intheir in-
verse numerical order.
AND IT IS HEREBY CERTIFIED AND RECITED that the issuance
>>' ',ris bond, and the series of which it is a part, is duly authorized by law
and by a vote of the resident, qualified electors who own taxable property in
said City and who had duly rendered the same for taxation in the City of
ti Corpus Christi, Texas, voting at an election held for that purpose within
said City on the 24th day of November, 1953; that all acts, conditions and
things required to be done precedent to and in the issuance of this series
of bonds, and of this bond, been properly done and performed and have
happened in regular and due time, form and manner as required by law; that
sufficient and proper provision for the levy and collection of taxes has
been made, o ±rich when collected shall be appropriated exclusively to the
payment of this bond and the series of which it is a part, and to the pay-
ment of the interest coupons hereto annexed as the same shall become due; and
that the total indebtedness of said City of Corpus Christi, Texas, including
the entire series of bonds of which this is one, does not exceed any con-
stitutional, statutory or charter limitation.
IN WITNESS W MEOF, the City of Corpus Christi., Texas,
by its City Council has caused its corporate seal to be affixed hereto, and
this bond to be siCned by the Mayor and countersigned by the City Secretary
and the interest coupons hereto attached to be executed by the lithographed
or printed facsimile signatures of the Mayor and City Secretary as of the
1st any of February, 1954.
Mayor, City of Corpus Christi, Texas.
COUNTERSIGNED:
City Secretary, City of Corpus Christi, Texas.
*(Bonds Nos. 1 to 105, both incl., 3% per annum;
Bonds Nos. 106 to 200, 11 2 -3/4% per annum.)
14. The form of coupon shall be substantially as follows;
NO. $
ON THE 1ST DAY OF
, 19
The City of Corpus Christi, Texas, will pay to bearer
*(unless the bond to which this coupon is attached shall have been previously
redeemed in accordance with its terms) at the Corpus Christi National Bank,
Corpus Christi, Texas, or, at the option of the holder, at the Harris Trust
and Savings Bank, Chicago, Illinois, the sum of
($ ) Dollars, in lawful money of the United States of America,
being months' interest due that day on "City of Corpus Christi, Texas,
Street Right -of -Way Bond, Series 1954 ", dated February 1, 1954, No.
City Secretary Mayor.
*(This parenthetical expression should be printed only in coupons which mature
August 1, 1964, and subsequent).
PERTAINING TO THE STORM SEWER BOND
15. That the bonds of said City to be called "City of
Corpus Christi, Texas, Storm Sewer Bonds, Series 1954 ", be issued under and
by virtue of the Constitution and laws of the State of Texas, and the Charter
of said City, for the purpose of improving the streets of said City by the
construction of storm sewers, in the principal amount of One Million Fifteen
Thousand ($1,015,000.00) Dollars.
16. That said bonds shall be numbered from One (1) to
One Thousand Fifteen (1,015), both inclusive, of the denomination of One
Thousand ($1,000.00) Dollars each, aggregating One Million Fifteen Thousand
($1,015,000.00) Dollars.
17. That said bonds shall be dated February 1, 1954, and
shall become due and payable serially as follows:
BONDS NUMBERS MATURITY DATES AMOUNTS
1 to 5, both incl.,
February 1, 1955,
$ 5,000.00
6 to 10, "
February 1, 1956,
5,000•00
11 to 15, "
February 1, 1957,
5,000.00
16 to 20, "
February 1, 1958,
5,000.00
21 to 25, " "
February 1, 1959,
5,000.00
26 to 30, "
February 1, 1960,
5,000.00
31 to 35, "
February 11 1961,
5,000.00
36 to 4o, " "
February 1, 1962,
5,000.00
BONDS NUMBERS
MATURITY DATES
AMOUNTS
41 to 45, both
Incl., February 1, 1963,
$ 5,000.00
46 to 50, "
" February 1, 1964,
5,000.00
51 to 55,
February 1, 1965,
5,000.00
56 to 60, "
" February 1, 1966,
5,000.00
61 to 65, "
" February 1, 1967,
5,000.00
66 to 70,
February 1, 1968,
5,000.00
71 to 75, "
February 1, 1969,
5,000.00
76 to 8o, "
" February 1, 1970,
5,000.00
81 to 85, "
" February 1, 1971,
5,000.00
86 to 90, "
February 1, 1972,
5,000.00
91 to 125, "
February 1, 1973,
35,000.00
126 to 165,
February 1, 1974,
4o,000.00
166 to 245, "
" February 1, 1975,
80,000.00
246 to 325,
February 1, 1976,
80,000.00
326 to 41o, "
February 1, 1977,
85,000.00
411 to 495,
February 1, 1978,
85,000.00
496 to 585,
February 1, 1979)
90,000.00
586 to 675,
" February 1, 1980,
90,000.00
676 to 765,
" February 1, 1981,
90,000.00
766 to 855, "
" February 1, 1982,
90,000.00
856 to 935,
February 1, 1983,
80,000.00
936 to 1015,
Febma ry 1, 1984,
80,000.00
18. That said bonds shall bear interest
at the rates as
follows:
Bonds Nos. 1 to 50, both incl.,
3 -3/4% per annum;
Bonds Nos. 51 to 65, "
2 -3/4% per annum;
Bonds Nos. 66 to 585, "
3% per annum;
Bonds Nos. 586 to 1015, "
2 -3/4p per annum,
payable February 1, 1955, and semi - annually thereafter on August 1st and
'February 1st of each year.
19. In Bonds Numbers Fifty One (51) to One Thousand
{Fifteen (1,015), both inclusive, the City reserves the option of calling each
!such bond for redemption prior to maturity on any inte_est payment date on and
1�efter February 1, 1964, at par and accrued interest to date so fixed for _-e-
' demptio , l.lus a premium of *, such premium to be reduced on February 1,
;;1965 to 2%, with a further reduction of 1/2 of 1� on February 1st of each
;year through February 1, 1968. There shall. be no premium on such bonds which
'may be redeemed February 1; 1969, or on any interest payment date thereafter.
;Thirty days' notice of such call shall be given in writing to the places of
Payment and notice shall be published in a financial publication published in
the City of New York, New York. Said notice shall appear in said publication
in at least one issue, the date of said issue being not less than thirty days
prior to the date so fixed for redemption. If any such bond is called for
redemption in said manner and if funds sufficient to pay the redemption price
';shall have been duly placed in the banks of payment by the date fixed for re-
�Idemption, it shall not thereafter beer interest. If fewer than all of the
jf
il optional. bonds are called for redemption, they shall be called in their in-
verse numerical order.
follows:
NO.
20. The form of said bonds shall be substantially as
$1,000.00
UNITED STATES OF AMERICA
STATE OF TEXAS
` COUNTY OF NUECES
CITY OF CORPUS CHRISTI
STORM SEWER BOND
Es SERIES 1954
The City of Corpus Christi, in the County of Nueces, State
of Texas, a municipal corporation duly incorporated under the laws of the State
of Texas, for value received, hereby promises to pay to the bearer hereof, or,
if this bond be registered as to principal, to the registered holder thereof,
on the 1st day of February, 19 the sum of
ONE THOUSAND DOLLARS
'- in lawful money of the United States of America, with interest thereon from
date hereof at the rate of (*%) per cent per annum, interest payable February
1, 1955, and semi - annually thereafter on the 1st day of August and the lst day
of February of each year, both principal and interest payable upon presentation
and surrender of bond or proper coupon at the Corpus Christi National Bank,
Corpus Christi, Texas, or, at the option of the holder, at the Harris Trust
and Savings Bank, Chicago, Illinois, and the City of Corpus Christi, Texas, is
!1 hereby held and firmly bound and its faith and credit and all taxable property
1 in said City are hereby pledged for the prompt payment of the principal ofthis
bond at maturity and the interest thereon as it accrues.
This bond is one of a series of One Thousand Fifteen
(1,015) bonds of like tenor and effect, except as to number, interest rate,
maturity and right of prior redemption, numbered from One (1) to One Thousand f
aj Fifteen (1,015), both inclusive, of the denomination of One Thousand ($1,000.00)
Dollars each, aggregating One Million Fifteen Thousand ($1,015,000.00) Dollars,
C. issued for the purpose of improving the streets of said City by the construction
of storm sewers, under and by virtue of the Constitution and laws of the State 1
i
of Texas and the Charter of said City, and pursuant to an ordinance passed by
i
the City Council of the City of Corpus Christi, Texas, which ordinance is of
i
record in the minutes of said City Council.
The date of this bond in conformity with the ordinance t
i� above mentioned is February 1, 1954•
This bond may be registered as to principal only in accor-
dance with the provisions endorsed hereon.
* *(The City reserves the option of calling this bond for
redemption prior to maturity on any interest payment date on and after February
1., 1964, at par and accrued interest to date so fixed for redemption, plus a
premium of ",12 , such premium to be reduced on February 1, 1965 to 2%, with a
further reduction of 1/2 of 1% on February 1st of each year through February
1, 1968. There shall be no premium on such bonds which may be redeemed February
1, 1969, or on any interest payment date thereafter. Thirty days' notice of suc
call is to be given in writing to the places of payment end said notice is to
be p+.iblished in a financial publication published in the City of New York, New
York. Said notice shall appear in said publication in at least one issue, the
date of said issue being not less than thirty days prior to the date so fixed
for redemption. If such bond is called for redemption in said manner and if
funds sufficient to pay the redemption price shall have been duly placed in
+'='the banks of payment by the date fixed for redemption, it shall not thereafter
,bear interest. If fewer than all of the optional bonds are called for re-
! demption, they shall be called in their inverse numerical order.)
AND IT IS HEREBY CERTIFIED AND RECITED that the issuance
�of this bond, and the series of which it is a part, is duly authorized by law
;and by a vote of the resident, qualified electors who own taxable property in
said City and who bad duly rendered the same for taxation in the City of Cropus
';Christi, Texas, voting at an election held for that purpose within said City on
ithe 24th day of November, 1953; that all acts, conditions and things required to
jibe done precedent to and in the issuance of this series of bonds, and of this
bond, have been properly done and perfomed and have happened in regular and
due time, form and manner as required by law; that sufficient and proper pro-
:vision for the levy and collection of taxes has been made, which when collected
�,jshall be appropriated exclusively to the payment of this bond and the series of
(`which it is a part, and to the payment of the interest coupons hereto annexed
;jas the same shall become due; and that the total indebtedness of said City of
iiCorpus Christi, Texas, including the entire series of bonds of which this is
lone, does not exceed any constitutional, statutory or charter limitation.
IN WITNESS WHEREOF, the City of Corpus Christi, Texas,
by its City Council has caused its corporate seal to be affixed hereto, and
this bond to be signed by the Mayor and countersigned by the City Secretary
and the interest coupons hereto attached to be executed by the lithographed
or printed facsimile signatures of the Mayor and City Secretary as of the
let day of February, 1954.
Mayor, City of Corpus Christi, Texas.
COUNTERSIGNED:
City Secretary, City of Corpus Christi, Texas.
*(Bonds Nos. 1 to 50, both incl., 3 -3/4% per annum;
Bonds Nos. 51 to 65, " 2 -3/4/ per annum;
Bonds Nos. 66 to 585, " 5% per annum;
Bonds Nos. 586 to 1015, " 2 -314o per annum.)
**(This paragraph should be omitted from Bonds Nos. 1 to 50, both incl.)
21. The form of coupon shall be substantially as follows:
N0. $
ON THE 1ST DAY OF
19
The City of Corpus Christi, Texas, will pay to bearer
*(unless the bond to which this coupon is attached shall have been previously
redeemed in accordance with its terms) at the Corpus Christi National Bank,
Corpus Christi, Texas, or, at the option of the holder, at the Harris Trust
and Savings Bank, Chicago, Illinois, the sum of
($ ) Dollars, in lawful money of the United States of America,
being months' interest due that day on "City of Corpus Christi, Texas,
Storm Sewer Bond, Series 1954 ", dated February 1, 1954, No.
City Secretary Mayor.
*(This parenthetical expression should be printed only in coupons which mature
August 1, 1964, and subsequent).
PERTAINING TO THE FIRE STATION BONDS
22. That the bonds of said City to be called "City of
Corpus Christi, Texas, Fire Station Bonds, Series 1954 ", be issued under and
by virtue of the Constitution and laws of the State of Texas, and the Charter
i
of said City, for the purpose of constructing and equipping fire stations
i
within said City, in the principal amount of Two Hundred Forty Five Thousand
1`($245,000.00) Dollars.
I;
r
23. That said bonds shall be numbered from One (1) to
Two Hundred Forty Five (245), bath inclusive, of the denomination of One
Thousand ($1,000.00) Dollars each, aggregating Two Hundred Forty Five Thousand
($245,000.00) Dollars. '
i
24. That said bonds shall be dated February 1, 1954, and
i
shall become due and payable serially as follows:
BONDS NUMBERS MATURITY DATES AMOUNTS
1 to 5, both incl., February 1, 1955, $ 5,000.00
6 to 15, " February 1, 1956, 10,000.00
16 to 25, " " February 1, 1957, 10,000.00
26 to 35, " " February 1, 1958, 10;000.00
36 to 45, " February 1, 1959, 10,000.00
46 to 55, " " February 1, 1960, 10,000.00
56 to 65, " " February 1, 1961, 10,000.00
66 to 75, " February 1, 1962, 10,000.00
76 to 85, " February 1, 1963, 10,000.00
86 to 95, " February 1, 1964, 10,000.00
96 to 105, " " February 1, 1965, 10,000.00
106 to 115, February 1, 1966, 10,000.00
116 to 125: " " February 1, 1967, 10,000.00
126 to 135, " " February 1, 1968, 10,000.00
136 to 145, " February 1, 1969, 10,000.00
146 to 155, February 1, 1970, 10,000.00
156 to 165, " " February 1, 1971, 10,000.00
166 to 175, February 1, 1972, 10,000.00
176 to 210, " " February 1, 1973, 35,000.00
211 to 245, " February 1, 1974, 35,000.00
25. That said bonds shall bear interest at the rates as
follows:
Bonds Nos. 1 to 95, both incl., 3 -3/4% per annum;
Bonds Nos. 96 to 125, " 2 -3/4% per annum;
Bonds Nos. 126 to 245, " 3% per annum,
payable February 1, 1955, and semi - annually thereafter on August lst and
February 1st of each year.
26. In Bonds Numbers Ninety Six (96) to Two Hundred Forty
Five (245), both inclusive, the City reserves the option of calling each such
bond for redemption prior to maturity on any interest payment date on and after
February 1, 1964, at par and accrued interest to date so fixed for redemption,
plus a premium of 2j%, such premium to be reduced on February 1, 1965 to 2%,
with a further reduction of 1/2 of 1% on February 1st of each year through
February 1, 1968. There shall be no premium on such bonds which may be redeem-
ed February 1, 1969, or on any interest payment date thereafter. Thirty days'
notice of such call shall be given in writing to the places of payment and
notice shall be published in a financial publication published in the City of
New York, New York. Said notice shall appear in said publication in at least
one issue, the date of said issue being not less than thirty days prior to
the date so fixed for redemption. If any such bond is called for redemption
in said manner and if funds sufficient to pay the redemption price shall have
been duly placed in the banks of payment by the date fixed for redemption, it
shall not thereafter bear interest. If fewer than all of the optional bonds
are called for redemption, they shall be called in their inverse numerical
order.
follows:
NO.
27. The form of said bonds shall be substantially as
$1,000.00
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI
FIRE STATION BOND
SERIFS 1954
The City of Corpus Christi, in the County of Nueces, State
Of Texas, a municipal corporation duly incorporated under the laws of the State
of Texas, for value received, hereby promises to pay to the bearer hereof, or,
if this bond be registered as to principal, to the registered holder thereof,
on the 1st day of February, 19 , the sum of
ONE THOUSAND DOLLARS
in lawful money of the United States of America, with interest thereon from
date hereof at the rate of (*4pl) per cent per annum, interest payable February
1, 1955, and semi - annually thereafter on the lst day of August and the 1st day
of February of each yeer, both principal and interest payable upon presen-
tation and surrender of bond or proper coupon at the Corpus Christi National
Bank, Corpus Christi, Texas, or, at the option of the holder, at the Harris
Trust and Savings Bank, Chicago, Illinois, and the City of Corpus Christi,
Texas, is hereby held and firmly bound and its faith and credit and all tax-
able property in said City are hereby pledged for the prompt payment of the
principal of this bond at maturity and the interest thereon as it accrues.
This bond is one of a series of Two Hundred Forty Five
(245) bonds of like tenor and effect, except as to number, interest rate,
maturity and riZht of prior redemption, numbered from One (1) to Two Hundred
Forty Five (245), both inclusive, of the denomination of One Thousand
($1,000.00) Dollars each, aggregating Two Hundred Forty Five Thousand
($245)000.00) Dollars, issued for the purpose of constructing and equipping
fire stations within said City, under and by virtue of the Constitution and
laws of the State of Texas and the Charter of said City, and pursuant to an
ordinance passed by the City Council of the City of Corpus Christi, Texas,
which ordinance is of record in the minutes of said City Council.
The date of this bond in conformity with the ordinance
above mentioned is February 1, 1954.
This bond may be registered as to principal only in accor-
dance with the provisions endorsed hereon.
**(The City reserves the option of calling this bond for
redemption prior to maturity on any interest payment date on and after
February 1, 196+1 at par and accrued interest to date so fixed for redemption,
plus a premium of 2-2%, such premium to be reduced on February 1, 1965 to 2%,
I with a further reduction of 1/2 of 1% on February 1st of each year through
February 11 1968. There shall be no premium on such bonds which may be re-
deemed February 1, 1969, or on any interest payment date thereafter. Thirty
days' notice of such call is to be given in writing to the places of payment
and said notice is to be published in a financial publication published in
is the City of New York, New York. Said notice shall appear in said publication
b` in at least one issue, the date of said issue being not less than thirty days
prior to the date so fixed for redemption. If such bond is called for re-
demption in said manner and if funds sufficient to pay the redemption price
L shall have been duly placed in the banks of payment by the date fixed for
redemption, it shall not thereafter bear interest. If fewer than all of the
,optional bonds are called for redemption, they shall be called in their inverse
numerical order.)
AND IT IS HEREBY CERTIFIED AND RECITED that the issuance
of this bond, and the series of which it is a part, is duly authorized by law
and by a vote of the resident, qualified electors who own taxable property in
':said City and who had duly rendered the same for taxation in the City of Corpus
;!Christi, Texas, voting at an election held for that purpose within said City
`on the 24th day of November, 1953; that all acts, conditions and things re-
,,quired to be done precedent to and in the issuance of this series of bonds,
^and of this bond, have been properly done and performed and have happened in
q regular and due time, form and manner as required by law; that sufficient and
;proper provision for the levy and collection of taxes has been made, which
whencollected shall be appropriated exclusively to the payment of this bond
and the series of which it is a part, and to the payment of the interest
cmanons hereto annexed as the same shall become due; and that the total in-
debtedness of said City of Corpus Christi, Texas, including the entire series
of bonds of which this is one, does not exceed any constitutional, statutory
or charter limitation.
IN WITNESS WHEREOF, the City of Corpus Christi, Texas,
by its City Council has caused its corporate seal to be affixed hereto, and
this bond to be signed by the Mayor and countersigned by the City Secretary
and the interest coupons hereto attached to be executed by the lithographed
ii or printed facsimile signatures of the Mayor and City Secretary as of the
1st day of February, 1954•
Mayor, City of Corpus Christi, Texas.
COUNTERSIGNED:
City Secretary, City of Corpus Christi, Texas.
*(Bonds Nos. 1 to 95, both incl., 3 -3/4,% per annum;
;j Bonds Nos. 96 to 125, " 2 -3/4 per annum;
Bonds Nos. 126 to 245, " " 3% per annum.)
* *(This paragraph should be omitted from Bonds Nos. 1 to 95, both incl.)
28. The form of coupon shall be substantially as follows:
NO.
ON THE 1st day of
19
j' The City of Corpus Christi, Texas, will pay to bearer
I *(unless the bond to which this coupon is attached shall have been previously
[redeemed in accordance with its terms) at the Corpus Christi National Bank,
,'Corpus Christi, Texas, or, at the option of the holder, at the Harris Trust
, "and Savings Bank, Chicago, Illinois, the sum of
( ) Dollars, in lawful money of the United States of America,
!'jbeing months' interest due that day on "City of Corpus Christi, Texas,
%Fire Station Bond, Series 1954 ", dated February 1, 1954, No.
Mayor.
(This parenthetical expression should be printed only in coupons which mature ¢
August 1, 1964, and subsequent).
PERTAINING TO THE TRAFFIC CONTROL SYSTEM BONDS
29. That the bonds of said City to be called "City of
Corpus Christi, Texas, Traffic Control System Bonds, Series 1954 ", be issued
under and by virtue of the Constitution and laws of the State of Texas, and j
the Charter of said City, for the purpose of permanently improving the streets
of the City by the installation of traffic control systems, in the principal
amount of Seventy Five Thousand ($75,000.00) Dollars.
30. That said bonds shall be numbered from One (1) to
both inclusive of the denomination of One Thousand
Seventy Five (75), , �
($1,000.00) Dollars each, aggregating Seventy Five Thousand ($75,000.00)
i
Dollars.
31. That said bonds shall be dated February 1, 1954,
and shall become due and payable serially as follows:
BONDS NUMBERS
MATURITY DATES AMOUNTS
1 to 15, both incl.,
February 1, 1955, $ 15,000•00
16 to 25, "
February 1, 1956, 10,000.00
26 to 35, "
February 1, 1957, 10,000.00
36 to 45, " "
February 1, 1958, 10,000.00
46 to 55, "
February 1, 1959, 10,000.00
56 to 65, "
February 1, 1960, 10,000.00
66 to 75, " "
February 1, 1961, 10,000.00
32.
That said bonds shall bear interest at the rate of
Three and three - fourths
(3 -3/4 %) per cent per annum, payable February 1, 1955,
and semi - annually thereafter
on August 1st and February 1st of each year.
33.
The form of said bonds shall be substantially as
follows;
NO. $1,000.00
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI
TRAFFIC CONTROL SYSTEM BOND
SERIES 1954
The City of Corpus Christi, in the County of Nueces, State
of Texas, a municipal corporation duly incorporated under the laws of the Stat
of Texas, for value received, hereby promises to pay to the bearer hereof, or,
if this bond be registered as to principal, to the registered holder thereof,
on the 1st day of February, 19 , the sum of
ONE THOUSAND DOLLARS
in lawful money of the United States of America, with interest thereon from
date hereof at the rate of Three and three - fourths (3- 3/4°/,) per cent per annum,
interest payable February 1, 1955, end semi - annually thereafter on the 1st day
of August and the 1st day of February of each year, both principal and interest
payable upon presentation and surrender of bond or proper coupon at the Corpus
l? Christi National Rank, Corpus Christi, Texas, or, at the option of the holder,
at the Harris Trust and Savints Bank, Chicago, Illinois, and the City of Corpus
Christi, Texas, is hereby held and firmly bound and its faith And credit and
all taxable property in said City are hereby pledged for the prompt payment of
the principal of this bond at maturity and the interest thereon as it accrues.
This bond is one of a series of Seventy Five (75) bonds of
like tenor and effect, except as to number and maturity, m +mbered from One (1)
to Seventy Five (75), both inclusive, of the denomination of One Thousand
($1,000.00) Dollars each, aggregating Seventy Five Thousand ($75,000.00) Dollar
issued for the purpose of permanently improving the streets of the City by the
installation of traffic control systems, under and by virtue of the Constitutio
;,and laws of the State of Texas and the Charter of said City, and pursuant to an
,ordinance passed by the City Council of the City of Corpus Christi, Texas,
i
lywhich ordinance is of record in the minutes of said City Council.
The date of this bond in conformity with the ordinance
,above mentioned is February 1, 1954.
This bond may be registered as to principal on;y in accor-
';dance with the provisions endorsed hereon.
AND IT IS F.EREBY CERTIFIED AND RECITED that the issuance
>",of this bond, and the series of which it is a part, is duly authorized by law
,hand by a vote of the resident, qualified electors who own taxable property in
��said City and who had duly rendered the same for taxation in the City of Corpus
khristi, Texas, voting at an election held for that purpose within said City
1.
!ton the 24th day of November, 1953; that all acts, conditions and things requir-
jied to be done precedent to end in the issuance of this series of bonds, and of
bond, have been properly done and performed and havehappened in regular
due time, form and manner as required by law; that sufficient and proper
Provision for the levy and collection of taxes has been made, which when
collected shall be appropriated exclusively to the payment of this bond and
the series of which it is a part, and to the payment of the interest coupons
hereto annexed as the same shall become due; and that the total indebtedness
of said City of Corpus Christi, Texas, including the entire series of bonds
of which this is one, does not exceed any constitutional, statutory or charter;
limitation.
IN WITNESS WHEREOF, the City of Corpus Christi, Texas,
by its City Council has caused its corporate seal to be affixed hereto, and
this bond to be signed by the Mayor and countersigned by the City Secretary
and the interest coupons hereto attached to be executed by the lithographed
or printed facsimile signatures of the Mayor and City Secretary as of the
1st day of February, 1954•
Mayor, City of Corpus Christi, Texas.
COUNTERSIGNED:
City Secretary, City of Corpus Christi, Texas.
34. The form of coupon shall be substantially as follows:
NO.
ON THE 1ST DAY OF
f 19
The City of Corpus Christi, Texas, will pay to bearer
at the Corpus Christi National Bank, Corpus Christi, Texa ;, or, at the option
of the holder, at the Harris Trust and Savings Bank, Chicago, Illinois, the
sum of ($ ) Dollars,
in lawful money of the United States of America, being months' interest
due that day on "City of Corpus Christi, Texas, Traffic Control System Bond,
Series 1954 ", dated February 1, 1954, No.
City Secretary Mayor.
PERTAINING TO ALL ISSUES
35• Substantially the following certificate shall be
printed on the back of each bond:
OFFICE OF CO?TT-ROLLER
STATE OF TEXAS
I HEREBY CERTIFY that there is on file and of record in
my office a certificate of the Attorney General of the State of Texas, to the
effect that this bond has been examined by him as required by law, and that
he finds that it has been issued in conformity with the Constitution and
laws of the State of Texas and the Charter of said City, and that it is a
valid and binding obligation upon said City of Corpus Christi, Texas, and
said bond has this day been registered by me.
WITNESS MY HAND and seal of office at Austin, Texas,
Comptroller of public Accounts of the
State of Texas.
(SEAL)
36. The form of registration certificate appearing on
the back of each bond shall be substantially as follows:
(NO WRITING TO BE MADE HEREON EXCEPT BY THE
BOND REGISTRAR OF THE CITY)
CERTIFICATE OF REGISTRATION
It is hereby certified that, at the request of the holder
of the within bond, I have this day registered it as to principal in the name
i
of such holder as indicated in the registration blank below and on the books
kept by me for such purpose. The principal of this bond shall be payable only
4
to the registered holder hereof named in the below registration blank or his f
i
legal representative, and this bond shall be transferable only on the books of
the Bond Registrar and by an appropriate notation in such registration blank.
If the last transfer recorded on the books of the Bond registrar and in the
i
below registration blank_ shall be to bearer, the principal of this bond shall
be payable to bearer and it shall be in all respects negotiable. In no case,
I
shall negotiability of the coupons attached hereto be affected by any regis-
tration as to principal.
NAME OF REGISTERED HOLDER DATE OF REGISTRATION SIGNATURE OF REGIS-
TRAR
37• That the principal and interest of said bonds shall
be payable upon presentation and surrender of bond or proper coupon at the
Corpus Christi National Bank, Corpus Christi, Texas, or, at the option of the
holder, at the Harris Trust and Savings Bank, Chicago, Illinois.
38. That each of said bonds shall be signed by the Mayor
and countersigned by the City Secretary, and the corporate seal of the City of
Corpus Christi, Texas, shall be impressed upon each of them.
39. That the facsimile signatures of the Mayor and City
Secretary may be lithographed or printed on the coupons attached to said bonds
and said facsimile signatures shall have the same effect as if they had been
manually executed by the said officials.
40. That special funds shall be created and are hereby
created to be designated as follows:
"City of Corpus Christi, Texas, Street Improvement Bonds, Series 1954
Fund"
i
"City of Corpus Christi, Texas, Street Right- of-Way Bonds, Series
1954 Fund ";
€ "City of Corpus Christi, Texas, Storm Sewer Bonds, Series 1954 Fund ";
'I
"City of Corpus Christi, Texas, Fire Station Bonds, Series 1954 Fund ";
"City of Corpus Christi, Texas, Traffic Control System Bonds, Series
1954 Fund ".
The proceeds of all taxes collected for or on account of each series of bonds
shall be credited to each such fund for the redemption of said bonds at
maturity and to pay the interest as it accrues thereon, and said funds shall
be used for no other purpose. To create said funds, a tax on the One Hundred
($100.00) Dollars' valuation of taxable property in the City of Corpus Christi,
Texas, is hereby levied for the year 1954, for the respective issues of bonds
as follows:
Street Improvement Bonds - - - - - - - - - - ,3, ;
Street Right -of -Way Bonds - - - - - - - - - ,� ¢;
I�
Storm Sewer Bonds - - - - - - - - - - - - -
Fire Station Bonds - - - - - - - - - - - - A y ¢;
Traffic Control System Bonds - - - - - - -¢.
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Each year thereafter while any of said bonds or interest due thereon are un-
paid, and at the time other City taxes are levied during said years, there
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shall be computed and ascertained what rate of tax, based upon the latest
approved tax rolls of said City will be necessary, requisite and sufficient
to fully make, raise and produce in each of said years the current interest
and the required amount of the principal for such year, for each issue of
bonds, or a proportionate part thereof, and a tax at such rate within the
permitted rate on the One Hundred Dollars' valuation shall be levied, assessed
and collected during each of said years, for each issue of bonds and said tax
is hereby levied and ordered to be assessed and collected, and the taxes
collected shall be applied to said purpose and to no other purpose.
41. Be it further ordained that the Mayor shall be
authorized to take and have charge of all necessary records pending investi-
gation by the Attorney General and shall take and have charge and control of
the bonds herein authorized pending their approval by the Attorney General,
registration by the Comptroller and their actual delivery to the purchasers
thereof.
42. The sale of the bonds herein authorized to Merrill
Lynch, Pierce, Fenner and Beane, Dallas, Texas, and Associates, at a price
of par and accrued interest to date of delivery, plus a premium of $1,777.77
is hereby confirmed. Delivery of such bonds shall be made to such purchasers
as soon as may be after the passage of this ordinance upon payment therefor in
rlaccordance with the terms of sale.
? 43. That all ordinances and resolutions or Darts thereof
in conflict herewith are hereby repealed.
44. The fact that the contemplated use of the proceeds of
�jthe 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 Charter Rule providing that no
or or resolution shall be passed finally on the date it is introduced,
?'and that such ordinance or resolution shall be read at three several meetin„s
'of the City Council and the Mayor raving 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
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-from and after its passa,-e, it is accordingly so ordained.
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PASSED AND APPROVED t>4 the, ey of Wch, 1954.
e ', ity of Corpus Chris i, eve.
ATTEST'
City Secretary, ty of ?Corpus Chpisti, Texas.
APPRO: AS TO LEGAL FORM:
City Attorney, City IF Corpus Christi, Texas.
The foregoing ordinance has teen approved as to form and
correctness this _L� day of March, 1954., —,
City At y rney.
�COOyRPUS, CHRISTI, TEXAS
TO THE MEMBERS OF THE CITY COUNCIL
CORPUS CHRISTI, TEXAS
GENTLEMEN:
FOR THE REASONS SET FORTH IN THE EMERGENCY CLAUSE OF
THE FOREGOING-"DINANCE, 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
INTRODUCEO, AND THAT SUCH ORDINANCE OR RESOLUTION SHALL BE READ AT
THREE MEETINGS OF THE CITY' COUNCILS I, THEREFORE, HEREBY 'REQUEST
THAT YOU SUSPEND SAID CHARTER RULE OR REQUIREMENT AND PASS THIS
ORDINANCE FINALLY ON THE.DATE IT 13 INTRODUCED, OR AT THE PRESENT
MEETING OF THE CITY COUNCIL.
RESPECTFULLY
MAY-OR,
CITY OF( PUS CHRISTI, TEXAS
THE CHARTER RULE WAS SUSPENDED BY THE FOLLOWING VOTE:
A. A. LICHTENSTEIN
ELLROY KING 0``V
P. C. CALLAWAY
JAMES S. NAISMITH
W. JAMES BRACE
s�
THE ABOVE ORDINANCE WAS PA35ED BY THE FOLLOWI NY'. VOTE:
A. A. LICHTENSTEIN f'
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ELLROY KING r
P. C. CALLAWAY
JAMES S. NAISMITH
W. JAMES BRACE