HomeMy WebLinkAbout03979 ORD - 12/15/1954e ' a,iA.'��k�f-?iRtl�:;q -', � - ..+ar,e�° wyaw...a• k• - -
THE STATE OF TEXAS
COUIFTY OF INECES
CITY OF CORPUS CHRISTI /
On this the /J day of December, 1954, the Ci ty Council /
of the City of Corpus Christi, Texas, convened in /P- -Ot� &iL meeting,
with the following members of said Council present, to -wit:
P. C. Callaway, Mayor,
Ellroy King,
J. S. INaismith,
Commissioners,
Peterson,
W. James Brace,
T. Ray Kring, City Secretary,
Russell E. McClure, City K nager,
1. M. Singer, City Attorney,
with the following absent: 7ze -1L i ; constituting
a quorum, at which time the( following among otherbusindss was transacted:
Irr. /�-f'M 5P _presented for the consideration of
the Council an ordinance. The ordinance was read by the City Secretary.
Tne Mayor presented to the Council a communication in writing pertaining to
said proposed ordinance, as follows:
"Corpus Christi, Texas,
December !�, 19;4.
TO THE CITY COUirCIL
CORPUS CHRISTI, TEXAS.
Gentlemen:
The public importance and pressing need for the permanent
im:rovements 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 050,000.00 Street Imurovement Bonds; $1,210,000.0(
Storm Sewer Bonds; $170,000.00 Fire Station Bonds and $70,000.00 Traffic Con-
trol 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/ P. C. Callaway,
Mayor." _
IIII n, F
Commissioner %12Ult 5Vel-1 IU made e motion 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 and stated in the emergency clause of the ordinance. The motion
was seconded by Commissioner The motion was carried by
a unanimous vote by the City Council, viz: `
AYES: Commissioners fang, iiaismith, Peterson and Brace.
NOES: None.
The Mayor requested that the records show that he voted
Aye. This was done.
Commissioner i GCLC� made a motion that the
ordinance be passed finally. The motion was seconded by Commissioner
The motion was carried by the following vote:
AYES: Commissioners King, Nsismith, Peterson and Brace.
NOES: None.
The Mayor requested that the records show that he voted
Aye. This was done.
The i•;ayor announced that the ordinance had been passed.
The ordinance is as follows:
ORDINANCES N0. J97
BY THE CITY COINCIL OF THE CITY OF CO M°US CHRISTI, TEXAS,
PROVIDING FOR THE ISSUANCE OF CITY OF CORPUS CaISTI,
TEXAS, STIMT II- ?ROVE1,Eh'T BOMS, SERIES 1954 -A, IN TIM
AGGREGATE AHOUIPT OF $6650,000.00; CITY OF CORPUS CRRLSTI,
TEXAS, STORM SEWER BONDS, SERIES 1954 -A, LI TEE AGGRE-
GAGE AMOUNT OF $1,210,000.00; CITY OF CORPUS CHRISTI,
TEXAS, FIRE STATIOII FONDS, SERIES 1954 -A, IN TFE AGG:E-
GATE AI•:OUNT OF $170,000.00 AIM CITY OF CORPUS CHRISTI,
TEXAS, TRAFFIC CONTROL SYSTEM BONDS, SERIES 1954 -A, IN
THE AGGREGATE ALIOUiIT OF $70,000.00, BEARIlG INTEREST AT
THE RATES HE-REIIIAFTER SET FORTH, AID PROVIDIIIG FOR THE
LEVY, ASSESSI•DNP AHD COLLECTION OF A TAX 8UFFICIEIel TO
PAY TEO INTEREST ON SAID BONDS AND TO CREATE A SII1KI:G
FIRM FOR THE REDE1,21TIM THEREOF AT MATURITY; REPEALING
ALL ORDII A -TICES IN COITLICT REREWITH AND DECLARING AN
ZIERGENCY.
1 WPEREAS, on the 24th day of November, 1953, an election
was held in the City of Corpus Christi, Texas, resulting favorably to the
issuance of $3,500,000.00 Street Improvement Bonds; $600,000.00 Street Right-
of-way Bonds; $4,975,000.00 Storm Sewer Bonds; $720,000.00 Fire Station Bonds
and $201,000.00 Traffic Control System Bonds; and
sv
WHEREAS, on March 17, 1954, the City Council of the City
of Corpus Christi, Texas, passed an ordinance directing the issuance of
$765,000.00 Street Improvement Bonds; $200,000.00 Street Rigbt -of -way Bonds;
$1,015,000.00 Storm Sewer Bonds; $245,000.00 Fire Station Bonds and $75,000.00
Traffic Control System Bonds, all dated February 1, 1954; and
WHEREAS, it is deemed advisable and to the best interest
of the City that $650,000.00 of said authorized Street Improvement Bonds;
$1,210,000.00 of said authorized Storm Sewer Bonds; $170,000.00 of said
authorized Fire Station Bonds and $70,000.00 of said authorized Txeffic Con-
trol System Bonds be issued and sold at this time;
BE IT ORDAINED BY 'BE CITY COUNCIL OF THE CITY OF CORFUS
CHRISTI, TEXAS:
PERTAINING TO THE STREET I1,MOVE::ENT BOMS
1. That the bonds of said City to be called "City of
Corpus Christi, Texas, Street Improvement Bonds, Series 1954 -A ", be issued
under and by virtue of the Constitution and laws of the State of Texas, and th
Charter of said City, for the purpose of improving the streets within said
City, in the principal amount of Six Hundred Fifty Thousand ($650,000.00)
Dollars.
2. That said bonds shall be n,=bered from One (1) to Si::
Hundred Fifty (650), both inclusive, of the denomination of One Thousand
($1,000.00) Dollars each, aggregating Six Hundred Fifty Thousand ($650,000.00)
Dollars.
3. That said bonds shall be dated December 1, 1954, and
shall become due and payable serisl7y as follows:
BONDS IARMERS MATURITY DATES A:IOLMS
1
to
10, both incl.,
December
1, 1962
$10,000.00
11
to
20, "
December
11 1963,
10,000.00
21
to
30, "
December
1, 1964,
10,000.00
31
to
40,
December
1, 1965,
10,000.00
41
to
50, " "
December
1, 1966,
10,000.00
51
zo
60, " "
December
1, 1967,
10,000.00
61
to
85, " "
December
1, 1968,
25,000.00
86
to
110,
December
1, 1969,
25,000.00
111
to
150, " "
December
1, 1970,
40,000.00
151
to
190, " "
December
1, 1971,
40,000.00
191
to
230, "
December
1, 1972,
40,000.00
231
to
270,
December
1, 1973,
40,000.00
271
to
445, " "
December
1, 1974,
175,000.00
446
to
650,
December
1, 1975,
205,000.00
�ew•w'n i4 - +. ••• aw •. . a+ w +w..+..+.+M.«.�.+ara— wee+a....
4. That said bonds shall bear interest at the rates
as follows:
Bonds Nos. 1 to . both incl., _`"a per annum;
Bonds Nos. , -•• to _, p per annum;
-Bonds Nos. _ to _ I _% per annum,
payable December 1, 1955, and semi - annually thereafter on June let and
December 1st of each year.
5. In Bonds Numbers Thirty One (31) to Six 'Hundred Fifty
(650), both inclusive, the City reserves the option of redeeming each such
bond on December 1, 1964, or on any interest payment date thereafter, at a
price of -par and accrued interest to the date so fixed for redemption, plrs
the following premiums: 2 if redeemed December 1, 1964 or June 1, 1965;
2�, if redeemed December 1, 1965 or June 1, 1966; ltp if redeemed December 1,
1965 or June 1, 1957; 1;i if redeemed December 1, 1957 or June 1, 1953; zi- if
redeemed December 1, 1968 or June 1, 1969 and without premirm if redeemed on
and after December 1, 1959• 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 tae City of New Ycrc., iiew Yor:;. Said
notice shall appear in said _xublication in at least one issue, the date of
said issue being not less then 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 rederption trice shall have been duly placed
in the banim of payment by the daze fired for redemption, it shall not
thereafter bear interest. If fewer than all of t::e optional bonds are called
for redemption, they shall be called in their inverse numerical order.
6. The form of said bonds shall be substantially as
follows:t
NO. _ $1,000.00
UNITED STATES OF Al•MRICA
STATE OF TEXAS
COUI:'Y OF 17JECES
CITY OF CORPUS CHRISTI
STREET LITROVFJTNT BOND
SERIES 1954 -A
+r. 1 sxtsaerpFei. tip.
The City of Corpus Christi, in the County of Hueces,
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 lot day of December, 19 , the sum of
ONE THOUSAVD DOLLARS
in lawful money of the United States of America, with interest thereon from
date hereof at the rate of (*5) per cent per annum, interest payable December
1, 1955, and semi - annually thereafter on the let day of Sune end the let day
of December of each year, both principal and interest payable upon presentatiol
and surrender of bond or proper coupon at the Corpus Christi National Bank,
Corpus Christi, Texas, or, at the option of the bolder, 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 prin-
cipal of this bond at maturity and the interest thereon as it accrues.
This bond is one of a series of Six Hundred Fifty ($50)
bonds of like tenor and effect, except as to number, interest rate, maturity
and right of prior redemption, numbered from One (1) to Six Hundred Fifty
(650), both inclusive, of the denomination of One Thousand ($1,000.00) Dollars
each, aggregating Six Hundred Fifty Thousand ($650,000.00) 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 December 1, 1956.
This bond may be registered as to principal only in accor-
dance with the provisions endorsed hereon.
**(In Bonds Humbered Thirty One (31) to Six Hundred Fifty
(650), both inclusive, the City reserves the option of redeeming each such
bond on December 1, 1964, or on any interest payment date t ereafter, at a
price of per and accrued interest to the date so ficed for redemption, plus
the following premiums: 2z if redeemed December 1, 1954 or June 1, 1965;
2% if redeemed December 1, 1965 or June 1, 1966; Ilyp if redeemed December 1,
1966 or June 1, 1967; 1% if redeemed December 1, 1967 or June 1, 1958; T, if
redeemed December 1, 1963 or June 1, 1969 and without premium if redeemed on
and after December 1, 1969. Thirty days' notice of such call shall be given
in writing to the places of payment and notice shell be published in a
financial publication published in the City of New York, Hew York. Said
notice shell appear in said publication in at least one issue, the date of
said issue being not less than thirty days -prior to t::e date so fixed for
redemption. If any such bond is called for redemption in said scanner and
if funds sufficient to pay the redemption price shall have been duly placed
in the bans of payment by the date fixed for redemption, it shell not
thereafter beer interest. If fewer than all of the optional bonds are
called for redemption, they shell be called in their inverse numerical order.)'
AND IT IS HEREBY CERTIFIED AIO RECITED that the issuance
of t'.•is bond, and the series of which it is a part, is duly authorized by law
and by a vote of the resident, au&fied 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 end
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 Ties
been made, which c.hen 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.
� ., wrsm�ntx,i.iuk <e+
IN WITIESS WHEREOF, "th'i,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 December, 1954.
I+ayor, City of Corpus Christi, Texas.
COUNIMSIGNED:
City Secretary, City of Corpus Christi, Texas.
*(Bonds Nos. 1 to _, both incl., _% per annum;
Bonds Nos. to " " per annum;
Bonds Nos. _ to _ " $ per annum.)
**(This paragraph should be omitted from Bonds Nos. 1 to 30, both incl.)
7. The form of coupon shall be substantially as follows:
I40.
014 TIi. 1ST DAY OF
19
The City of Corpu§ Christi, Texas, will pay to bea_er
*(unless the bond to which this coupon is attached shall have been previously
redeemed in accordance with its terms) at the Corpus Christi Rational Bank,
Corpus Christi, Texas, or, at the option of the holder, at the Harris Trust
and Savings BanL, 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 -A ", dated December 1, 1954, No.
City Secretary Mayor.
*(This parenthetical expression should be printed only in coupons which mature
June 1, 1955, and subsequent).
PERTAINIRG TO THE STORM SL74ER BONDS
8. That the bonds of said City to be called "City of
Corpus Christi, Texas, Storm Sewer Bonds, Series 1954 -A ", 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 improving the streets of said City by the
construction of storm sewers, in the principal amount of One Million Two
Hundred Ten Thousand ($1,210,000.00) Dollars.
9• That said bonds shall be numbered from One (1) to One
Thousand Two Hundred Ten (1,210), both inclusive, of the denomination of One
Thousand ($1,000.00) Dollars each, aggregating One Million Two Hundred Ten
Thousand ($1,210,000.00) Dollars.
10. That said bonds shall be dated December 1, 1954, and
shell become due and payable serially as follows:
BONDS N Y3ERS MATURITY DATES AMOUIES
1 'co 935, both incl., December 1, 1976, $ 935,000.00
936 to 1210, " " December 1, 1977, 275,000.00
11. That said bonds shall bear interest at the rates
as follows:
Bonds Fos. 1 to _,both incl. , J per annum;
Bonds Nos. to per annum;
Bonds Nos. to " " _' per annum,
payable December 1, 1955, and semi - annually thereafter on June 1st and Decemb
1st of each year.
12. The City reserves the option of redeeming each such
bond on December 1, 1964, or on any interest payment date thereafter, at a
price of par and accrued interest to the date so fixed for redemption, plus
the following premiums: 2zp if redeemed December 1, 1964 or June 1, 1965;
2% if redeemed December 1, 1965 or June 1, 1966; 124j if redeemed December 1,
1966 or June 1, 1967, 1% if redeemed December 1, 1967 or June 1, 1963; Zp if
redeemed December 1, 1968 or June 1, 1969 and without premium if redeemed on
and after December 1, 1969. Thirty days' notice of such call shell 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 dame 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
..,,,,r„ .- _.— _._ – •_' ".rr --w.w ...r w.....�...,a. w4- �r+. v+.. w...... ....•+q...r– w�+.+i+.++r«+p•+�
in the banks of payment by the date fired 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.
13• The form of said bonds shall be substantially as
follows:
110.
$1,000.00
UYITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF MTECES
CITY OF CORPUS CHRISTI
ST03Ih SEWER BOSD
SERIES 1954 -A
The City of Corpus Christi, in the County of Nueces, Stet(
of Texas, a municipal corporation duly incorporated under the laws of the Stal
of Texas, for value received, hereby promises to pay to the bearer hereof, or;
if this bond be regis =ed as to principal, to the registered holder thereof,
on the 1st day of December, 19_, the sum of
OIJE THOUSAID) DOLLARS
inlawful money of the United States of America, with interest thereon from
date hereof at the rate of (tr) per cent per annum, interest payable December
1, 1955, and semi - annually thereafter on the lst day Of June and the 1st day
of December of each year, both principal and interest payable upon presentatic
and surrender of bond or proper coupon at the Corpus Christi National Bank,
Ccrpus 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, ie
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 thi
bond at maturity and the interest thereon as it accrues.
This bond is one of a series of One Thousand Two Hundred
Ten (1,210) bonds of lire tenor and effect, except as to number, interest rate
and maturity, numbered from One (1) to One Thousand Two Hundred Ten (1,210),
both inclusive, of the denomination of One Thousand ($1,000.00) Dollars each,
aggregating One Million Two Hundred Ten Thousand ($1,210,000.00) Dollars,
issued for the purpose of improving the streets of said City by the constructi
of storm sewers, under and by virtue of the Constitution and laws of the State
• �ir.�ifapa -a+dg� :,I«+;yn.2^�,.+7. -,q.. Tom' ,,,•fix
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 Dececdoer 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 redeeming this bond on
December 1, 1964, or on any interest payment date thereafter, at a price of
par and accrued interest to the date so fixed for redemption, plus the follow-
ing premiums: 2zN, if redeemed December 1, 1964 or June 1, 1965; 2; if re-
deemed December 1, 1965 or June 1, 1966; 1�: if redeemed December 1, 1966 or
June 1, 19667; 1p if redeemed December 1, 1967 or June 1, 1968; R,, if redeemed
December 1, 1966 or June 1, 1969 and without premium if redeemed on and after
December 1, 1969• Thirty days' notice of such call shall be given in vriting
to the places of payment and notice shall be published in a financial publi-
cation published in the City of New York, New York. Said notice shall appear
in said publication in at least one issue, the date of saidissue 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 shell not thereafter beer interest. If fewer
than all of the optional bonds are called for redemption, they shall be called
in their inverse numerical order.
AIID I^1 IS IMMY CP.ciTIFTM AIM MCIMD that the issuance
of this bond, and the series of which it is a pert, 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 sere 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, condipions and things required t�
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
. .:b:},'K;iEr�3 *a..�.. .�n «+s�a(w.i«,zt� �>•.- ..a:z�;a�ta
`,M� -:. +.er. ash•. <_ - � .;.�.FSa.?ari:.n�: .d.,u
wul w.. ww.a• +/ W�,• wr�rw. ar... 4wM.+ w., We ..yF+•.:rr.'Ffr"+.V."'r.`r4�e,r ..
provision for the levy and collection of taxes has been made, which when
collected shell 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.
IId WMMSS WEEREOF, 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 Meyor and City Secretary as of the
let day of December, 1954.
I:ayor, City of Corpus Christi, Texas.
COUITIERSIGIED:
City Secretary, City of Corpus Christi,
Texas.
'(Bonds Nos. 1 to both incl., _� per annum;
Bonds Nos. to a per annum;
Bonds Nos. _ to " _p per annum.)
14. The form of coupon shall be substantially as follows:
NO._
OIi THE 1S ^1 DAY OF
, 14
The City of Corpus Christi, Texas, will pay to bearer
-(unless the bond to which this coupon is attached si ^all 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 Farris Trust
and Savings Ban%, Chicago, Illinois, the a= of
( ^y ) 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 -A ", dated December 1, 1954, No.
City Secretary Iayor.
*(This parenthetical expression should be printed only in coupons which mature
dune 1, 1955, and subsequent).
, . � i'atr6;;3,Ye ..., ^my.+SV;W�,t+"N'5.x • •.,, .. � �asw+d�bvet *,
...... "''•, „ "'" - ' PERTAINING TO`ffi FLR E TION�BONDS f. •. - - -� -, r... -....
15• That the bonds of said City to be called "City of
Corpus Christi, Texas, Fire Station Bonds, Series 1954 -A ", be issued under
and by virtue of the Constitution and Jews of the State of Texas, and the ,
Charter o3 said City, for the purpose of constructing and equipping fire
stations within said City, in the principal amount of One Hundred Seventy
Thousand ($170,000.00) Dollars.
15. That said 'bonds shell be numbered from One (1) to
One Hundred Seventy (170), both inclusive, of the denomination of One Thousend
($1,000.00) Dollar. each, aggregating One Hundred Seventy 'Moreand (y170,000.0 )
Dollars.
Bonds Nos. 1 to , both incl., % per annum;
Bonds Idos. _ to " _; per annum,
payable December 1, 1955, and semi - annually thereafter on June 1st and Dece¢
1st of each year.
19• The City reserves the option of redeeming each s:•ch
bond on December 1, 1964, or on any interest payment date thereafter, at a
price of par and accrued interest to the date so fixed for redemption, plus
the following wemiums: 2e if redeemed December 1, 1964 or June 1, 1965;
2jj if redeemed December 1, 1965 br June 1, 1966; lzp' if redeemed December 1,
1966 or June 1, 1967; 15 if redeemed December 1, 1967 or June 1, 1968; " if
redeemed December 1, 1968 or June 1, 1969 and without premium if redeemed on
and after December 1, 1969• 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 publishdd 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
17. That
said bonds shall be dated Decenoer
1, 1954, and
shall become due
and payable serially as follows:
BONDS M71BERS
IATMITY DATES
APODUT_S
1 to 135, both
incl.,
December 1, 1975,
$135,000.00
136 to 170, "
"
December 1, 1976,
35,000,00
16. That
said bonds shall bear interest
at t: -e rates -
as follows:
Bonds Nos. 1 to , both incl., % per annum;
Bonds Idos. _ to " _; per annum,
payable December 1, 1955, and semi - annually thereafter on June 1st and Dece¢
1st of each year.
19• The City reserves the option of redeeming each s:•ch
bond on December 1, 1964, or on any interest payment date thereafter, at a
price of par and accrued interest to the date so fixed for redemption, plus
the following wemiums: 2e if redeemed December 1, 1964 or June 1, 1965;
2jj if redeemed December 1, 1965 br June 1, 1966; lzp' if redeemed December 1,
1966 or June 1, 1967; 15 if redeemed December 1, 1967 or June 1, 1968; " if
redeemed December 1, 1968 or June 1, 1969 and without premium if redeemed on
and after December 1, 1969• 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 publishdd 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
.. •- �, 'xi'� .- �e� -�. .,s >.ya�'as'.�'f±� r,� � w+ ..�.2'�r�pa,Fry?H'r
redemption. Ii 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 there-
after bear interest. If fewer than all of the optional bonds are called for
redemption, they shall be called in their inverse numerical order.
20. The form of said bonds shall be substantially as
follows: 1
1,000.00
UNITED STATES OF AI'.ERICA
STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORFUS CHRISTI
FIRE S^ATIOid BOM
SERIFS 195+ -A
The City of Corpus Christi, in the County of IVueces, State
of Texas, a municipal corporation duly incorporated under the laws of the
State of Texas, for value received, hereby promises to nay to the bearer
hereof, or, if this bond be registered as to principal, to the registered
holder thereof, on the 1st day of December, 19 , the sum of
OIVE THOUSAND DOLLARS
in lawful money of the United States of Arerice, with interest thereon from
date hereof at the rate of (*5) per cent per annum, interest payable December
1, 1955, and semi - annually thereafter on the 1st day of June smd The let day
of December of each year, both principal and interest payable upon presen-
tstion and surrender of bond or proper coupon at the Corpus Christi Hatio:_al
Balks Corpus Christi, Texas, or, at the option of the holder, at the Harris
Trust and Savings Bank, Chicago, Illinois, and the City- of Corona Christi,
Texas, is hereby held and firmly bound and its faith and credit and all tax-
able property in said Cicy are hereby 2ledged 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 One Hundred Seventy (170)
bonds of like tenor and effect, except as to number, interest rate and maturity
numbered from One (1) to One Hundrdd Seventy (170), both inclusive, of the
denomination of One Thousand ($1,000.00) Dollars each, aggregating One Hundred
,+a+— �iM.rM V r .. .. • - , na _,-. .«. nr.wn s+nr +i #+, r +xrw. va+a r- -
Seventy Thousand ($170,000.00) 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 Cor sus
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 December 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 redeeming this bond on
December 1, 1964, or on any interest payment date thereafter, at a price of
per and accrued interest to the date so fired for redemption, plus the follow-
ing premiums: 22'p if redeemed December 1, 19664 or June 1, 1965; 2'0' if re-
deemed December 1, 1965 or June 1, 1966; 1 y� if redeemed December 1, 1966 or
June 1, 1967; 1% if redeemed Decezfoer 1, 1967 or June 1, 1969; z if redeemed
December 1, 1966 or June 1, 1969 and without premium if redeemed on and after
December 1, 1969• Thirty days' notice of such call shall be given in writing
to the places of payment and notice shall be published in a financial publi-
cation published in the City of New York, New Yor's. Said notice shall appear
in said publication in at least one issue, the date of said issue being not
less then 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 bans of payment by the
date fired 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
J..
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
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 Payment of the interest
coupons 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 atzached to be executed by the lithographed
or printed facsimile signatures of the ISayor and City Secretary as of the
1st day of December, 1954.
Uayor, City of Corns Christi, Texas.
COUNTERSIGNED:
City Secretary, City of Corpus Christi,
Texas.
*(Bonds Nos. 1 to , both incl., $
Bonds Nos. to 7 per annum;
_, per annum;
Bands Nos. _ to " " per ammum.)
21. The form of coupon shall be substantially as follows:
I10.
w
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 Bab:,
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,
Fire Station Bond, Series 1954 -A ", dated December 1, 1954, No.
City Secretary b:ayor.
(This parenthetical expression should be printed only in coupons which mature
June 1, 1965, and subsequent).
PERTAINING TO THE TRAFFIC CONTROL SYSTEM BODDS
22. That the bonds of said City to be called "City of
Corpus Christi, Texas, Traffic Control System Bonds, Series 1954 -A ", be issued
under and by virtue of t'--e Constitution and laws of the State of Texas, and
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 Thousand ($70,000.00) Dollars.
23• That said bonds shall be numbered from One (1) to
Seventy (70), both inclusive, of the denomination of One Thousand ($1,000.00)
Dollars each, aggregating Seventy Thousand ($70,000.00) Dollars.
24. That said bonds shall be dated December 1, 1954,
and shall become due and payable serially as follows:
BOLDS NU: MFRS IMURITY DATES AI• :Oulrls
1 to 10, both, incl., December 1, 1955, $ 10,000.00
11 to 20, " " December 1, 1956, 10,000.00
21 to 30, " " December 1, 1957, 10,000.00
31 to 40, December 1,1953, 10,000.00
41 to -0, " " December 1, 1959, 10,000.00
51 to 60, " " December 1, 1960, 10,000.00
61 to 70, " December 1, 1951, 10,000.00
25. That said bonds shall bear interest at the rates as
follows:
Bonds Nos. 1 to _, both incl., 1, per annum;
Bonds Nos. to " ; per annum;
Bonds Nos. to " " _p per annum,
payable December 1, 1955, and semi - annually thereafter on June let and Dece
1st of each year.
26. The form of said bonds shall be substantially as
follows:
NO._ $1,000.00
UNITED STATES OF AIT<RICA
STATE OF TEXAS
COUId'TY OF IM ICES
CITY OF CORPUS CHIEISTI
TRAFFICCCONTROL SYSTEid BOND
SERIES 1954 -A
.s
- �r s",•M.irro3,�,i,t"k}?•tr,. ;rx<: . - -�,.m'r�Y'.�ee•i u`:?�!�v. _ ,
The City of Corpus Christi, in the County of Ilueces, State
of Texas, a municipal corporation duly incorporated under the laws of the State
of Texas, for value received, hereby promises to nay to the bearer hereof, or,
if this bond be registered as to principal, to the registered holder thereof,
on the 1st day of December, 19_, the sum of
0t7' THOUSAIM DOLLAES
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 December 1,
1955, and semi - annually thereafter on the 1st day of June and the 1st day of
December of each year, both principal and interest payable upon presentation'
and surrender of bond or proper coupon at the Corpus Christi iPational Pan's,
Corpus Christi, Texas, or, at the option of the holder, at the Harris Trust
and Savings Hank, 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 ore of a series of Seventy (70) bonds of life
tenor and effect, except as to number, interest rate and maturity, numbered
from One (1) to Seventy (70), both inclusive, of the denomination of One Thousan
($1,000.00) Dollars each, aggregating Seventy Thousand ($70,000.00) Dollars,
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 Constitution
and laws of the State of Texas and the Charter of said City, and pursuant to an
ordinance passed by the City Cos ncil 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 December 1, 1554.
This bond may be registered as to principal only in accor-
dance with the provisions endorsed hereon.
, .- .,,,a:VH•- . - .: t Y' `4.h, - x � � ,a- to
AMID 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 sane for taxation in the City of Corpus
Christi, Texas, voting at an election held for hat purpose within said City
on the 24th day of November, 1953; that all acts, conditions and things requir-
ed 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 canner as required by law; that sufficient and =cper
provision for the levy and collection of tares has been made, which when
collected shall be appropriated exclusively to the payment of this bond and
the series of which iv is a pars, and to the payment of the interest coupons
hereto annexed as the same shall become due; and that the tonal 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 4IITIiESS WHEREOP, the City of Corpus Christi, Texas,
by its City Council has caused its corporate Beal to be affixed hereto, and
this bond to be signed by the Y'ayor and countersigned by the City Secretary
and the interest coupons hereto attached to be executed by the lithographed
or printed facsimile signatures of the Kayor and City Secretary as of the
1st day of December, 1954.
Mayor, City of Corpus Christi, Texas.
COUNTERSIGNED:
City Secretary, City of Corpus Christi,
Texas.
*(Bonds Nos. 1 to _, both incl., _°S ner annum;
Bonds Nos. to , d per annum;
Bonds Idos. _ to _ " _;$ per ammum.)
27. The form of coupon shall be substantially as follows:
NO. $
TEE 1ST DAY OF
19
The City of Corpus Christi, Texas, will pay to bearer
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, Traffic Control System Bond, Series
1954 -A ", dated December 1, 1954, Do.
City Secretary Mayor"
PERTAISIWG TO ALL ISSUES
23.
Substantially the following certificate shall be
printed on the back of each bond:
OFFICE OF CO'ht iROL ER
STATE,OF TEXAS
I =,Y CERTIFY that there is on file and of record in
W office a certificate of t'.-..e Attorney General of the State of ^_exas, to the
effect that this bond has been e:camined by him as required by low, and that
he finds that it hea 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 bindins, obligation anon said City of Corpus Christi, Texas, and said bond
has this day been registered by me.
WITIESS by r.AIM and seal of office at Austin, Texas,
Comptroller of Fublic'Accounts of the
• State of Texas.
(SEAL)
29. The form of registration certificate appearing on
the back of each bond shall be substantially as follows:
(RO WRITING TO BE MADE HEREON EXCEPT BY Try
BOh'D REGISTRAR OF THE CITY)
CERTIFICATE OF REGISTRATIOII
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
of such holder as indicated in the registration blank below and on the books
..> keptby me for -such purpose — ^,The principal of this bond shall be payable'?only
to the registered holder hereof named in the below registration blani: or his
legal representative, and this bond shall be transferable only on the boobs 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
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,
shall negotiability of the coupons attached 'hereto be affected by any regis-
tration as to principal.
TA1•3 OF REGIST= HOLDER DATE OF REGISTPATION SIGNATURE OF REGISTRAR
30. That the principal and interest of said bonds shall
be sayable upon presentation and surrender of bond or proper coupon at the
Corpus Christi National Ban%, Corpus Christi, Texas, or, at the option of the
holder, at the Harris Trust and Savings Ban::, Chicago, Illinois.
31. That each of said bonds shall be signed by the Neyor
and countersigned by the City Secretary, and the corporate seal of the City of
Corpus Christi, Texas, shall be impressed upon each of them.
32. That the facsimile signatures of the I•;ayor and City
Secretary may be lithographed or printed on the coupons attached to said bonds
and said facsimile signatures shall have the save effect as if they had been
manually executed by the said officials.
33• 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 -A
Fund ",
"City of Corpus Christi, Texas, Storm Sewer Bonds, Series 1954-A Fund ";
""°^^" -" City "t5P6CaYgu`s'C}iris'Ei�'Tezas; Fire Station Bond "s �'Seiies`1954= A`Fund "j
"City of Corpus Christi, Texas, Traffic Control System Bonds, Series
1954-A Fund ".
The proceeds from all ta:ces collected for and on account of each of said serie
of bonds shall be credited to each of said funds for the purpose of paying the
interest as it accrues and to provide a sinking fund for the purpose of haying
each installment of principal as it becomes due, and said funds shall be used
no other purpose. For the current year and each year while any of said bonds,
or interest thereon, are outstanding and unpaid, there shall be computed and
ascertained, at the time other taxes are levied, the rate of tax based on the
latest approved rolls of said City as will be requisite and sufficient to maLe
raise and produce in each of said years a fund to pay the interest on the
bonds of each:issue and to provide a sinking fund sufficient to nay the prin-
cipel of each of said issues as it matures, full allowances being made for
delinquencies and costs of collection. A tax at the rate as hereinabove de-
termined is hereby ordered to be levied and is hereby levied against all of
the taxable property in said Ci.y for the current year and each year respect-
ively while any of the bonds of each of said issues, or interest thereon, are
outstanding and unpaid, and the said tax each year shall be assessed and
collected and placed in the Funds hereby created and the Treasurer shall
honor warrants against said funds for the purpose of paying the interest
maturing and principal of each of said issues of bonds and for no other -ar-
pose.
34. Be it further ordained that the Ileyor shall be
authorized to take and have charge of all necessary,records pending investi-
gat:on 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.
�f 31. The sale of the bonds herein authorized to
'I OY/- luar�! 7G.a✓ is �s�o -w.� �1. �e+k:, c.�
at a price of par and accrued interest to date of delivery, plus a premium
of $ ,Z.i��, 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 accordance with the terms of sale.
36. That all ordinances and resolutions or parts thereof
in conflict herewith are hereby repealed.
37. The fact that the contemplated use of the proceeds
of the 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
ordinance or resolution shall be passed finally on the date it is introduced,
and that such ordinance or resolution shall be read at three several meetings
of the Cizy Council and the Heyor having 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 from and after its passage, it is accordingly so ordained.
PASSIM AM APPROVED this the /Jr day of December, 1954•
P1aCOrpus Christi, Te .as.
ATTES ^T: /
City Secretary, C ±t, of Co pus L; ci,
T es.
APPROVED AS TO L °GAL FOrt_: ,
City A t to Cit cf Corpus Cfffi l6tl,
Te,ms.
The foregoing ordinance has been approved as to form and
correctness this /.f day of December, 1954•
City Attor
39 -19
.n +we++brtfwu.t P�4:v— .»x+.M ". r. � . t. avar- .�w%�w.+Wwti..u�rRNw�^^�wf"S �M•ce � »,
TO STATE OF TEXAS
COUMI7 OF ]r'UECES
CITY OF CORPUS CHRISTI
I, the undersigned, City Secreta ry'of the City of
Corpus Christi, Texas, do.,hereby certif3Kthat the above and foregoing is
a true, full and correct copy of an ordinance passed by the City Council of
the City of Corpus Christi, Texas, (and oY the minut A pertaining thereto)
F
on the /S day of Decc�labei, 1954, autfiorizing the issuance � of $550,000.00
City of Corpus ghristi; Texas, Street I provement Bo „Series 1954 -A;
' ' f'
$1,210,000.00 City of Corpus Christi,, texas, Storm Sewer Bonds, Series 1954 -A;
$170,000.00 City of ° Coque• Christi,JTex , Fire Station Bonds, Series 1954 -A,
and $70,000,00 City'-- ,krous Ch is i;• Texas, Traffic,,Control System Bonds,
., Air 4 .,
Series 1954 -A, which o finance is duly dY record in the minutes of said City
Council.
J ,
EXECUTED UNDER AfY FAPH) and seal of said City this the
%• _
/✓r day of December,, 31954, i
.v,yrtc ,yJyyra. e•,uf . � :8��,`i.:�3 ,4�i:,_.
City Secretary, `City of Corpus Christi,
Texas.
(SEAL)