HomeMy WebLinkAbout04020 RES - 01/05/1955WHEP3AS, There appears to be in the hands of Mercantile National
Banlc at Dallas, Trustee under the City of Corpus Christi Waterworks Revenue Bonds
Trust Agreement, in the Redemption -Account funds exceeding $150,000.00, and it
would be to the advantage of the City of Corpus Christi to invest said sum of
$150,000.00 out of said Redemption Fund:
NOWT, MERT,PORE; BE IT MOI a BY THE CITY COUNCIL OF THE CITY OF
COWUS CARISTI, Tom:
SECTION 1. That Mercantile National Bank at Dallas; Trustee under
the Waterworks Revenue Bonds Trust Agreement of the City of Corpus Christi,
be, and is hereby, instructed to invest of the available funds in the Redemption
Fund of the City of Corpus Christi Waterworks Revenue Bonds the sum of $150,000.00
on time deposit until December 1, 1955, at 1 -1/2 %.
SECTION 2. The necessity for promptly investing funds so as to
yield interest creates a public emergency and public imperative necessity re-
quiring the suspension of the Charter rule 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 City Council,
and the Mayor, having declared that such public emergency and imperative necessity
exists, and having requested that such Charter rule be suspended, and that this
Resolution be passed finally on the date of its introduction and take effect
and be in full force and effect from and after its passage, IT IS ACCORDINGLY
SO RESOLVED.
PASSED AND APPROVED, This the day of January, 1855.
ATTEST -� l�
City Secretary
i r
APPROVED AS TO LEGAL FORM:
City Attortie
1,1
IT
CITY OF CORPUS CHRISTI,' TEKAS
Cor Christi, Texas
195
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TO THE MiNBBRS CF THE CITY COUNCIL,
Corpse Christi, Texas
Gentlemen:
-For the reasons set forth in the emergency clause of the foregoing
ordinance, a public emergency and imperative necessity exist -four the suspen-
sion of the - .Charter Rule or requirement that no ordinanck or resolution shall
be passed finally on the date it is introduced, and that,auch ordinance or
resolution shall be read at three meetings of the City Council; I, therefore,
hereby request that you suspend said Charter rule or requirement and pass
this ordinance finally on the date it is introduced; or at the present meeting
of the City Council.
Respeetfullyl,
MAYOR
CITY OF CORPUS CHRISTI, S
The Charter Rule was suspended by the following vote;
P. C. Callaway
Eliroy ring
James S. Naismith
W. James Brace Q
F. P. Peterson, Jr.
The above was passed by the following mote;
P. C. Callaway
Ellroy King,:.
James 5,.:la smith
W. James Brace
F. P. Peterson, Jr.
1 -
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