HomeMy WebLinkAbout04721 ORD - 01/16/1957THE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI
On this the 16th day of January, 1957, the City Council
of the City of Corpus Christi, Texas, convened in Regular Meeting, with the
following members of said Council present, to -wit:
Farrell D. Smith, Mayor,
Minor Culli,
B. E. Bigler,
Commissioners,
W. J. Roberts,
M. P. Maldonado,
T. Ray Kring, City Secretary,
Russell E. McClure, City Manager,
I. M. Singer, City Attorney,
with the following absent : // j constituting
a quorum, at which time X lDlowing among other business was transacted:
Mr. �L� presented for the consideration 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,
January 16, 1957•
TO THE 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
elections held on November 24, 1953, and October 6, 1956, create an emergency
and an imperative public necessity requiring the suspension of rules and
Charter provisions requiring ordinances to be considered and rated upon at
three regular meetings. I, therefore request that the City Council pass the
proposed ordinance authorizing the issuance of $1,750,000.00 Airport Bonds
and $820,000.00 Storm Sewer Bonds, as an emergency. You will please consider
this request in connection with the ordinance which has been introduced in the
City Council of this subject.
Yours very truly,
Isl Farrell D. Smith,
Mayor."
q_� 2-1
Commissioner made a 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 M44" The motion was carried by
a unanimous vote by the City Council, viz:
AYES: Commissioners Culli, Bigler, Roberts and
Maldonado.
NOES: None.
The Mayor requested that the records show that he voted
Aye. This was done.
Commissioner 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 Culli, Bigler, Roberts and
Maldonado.
Aye. This was done.
NOES: None.
The Mayor requested that the records show that he voted
The Mayor announced that the ordinnce had been passed.
The ordinance is as follows:
ORDINANCE NO. 4M
BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS, PROVIDING FOR THE ISSUANCE OF $1,750,000.00
CITY OF CORPUS CHRISTI, TEXAS, AIRPORT BONDS,
SERIES 1957, AND $620,000.00 CITY OF CORPUS
CHRISTI, TEXAS, STORM SEWER BONDS, SERIES 1957,
BEARING INTEREST AT TAE 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; RE-
PEALING ALL ORDINANCES IN CONFLICT HEREWITH AND
DECLARIIJG AN EMERGENCY.
WHEREAS, heretofore on the 19th day of September, 1956,
the City Council of the City of Corpus Christi, Texas, passed an ordinance
calling an election to be held in said City on the 6th day of October, 1956,
on the following proposition:
; and
"Shall the City Council of the City of Corpus Christi,
Texas, be authorized to issue the bonds of said City in the
amount of $3,200,000.00, 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 inter-
est at a rate not to exceed Four and one -half (4—,'%) per cent
per annum, 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 purpose of
providing funds to pay the cost of planning and acquiring, de-
veloping, constructing and equipping an airport and a site
therefor, including building and other facilities incidental
to the operation thereof, and the acquisition or elimination
of airport hazards, as authorized by the Constitution and laws
of the State of Texas and the Charter of said City."
WHEREAS, said election was duly and legally held on the
6th day of October, 1956, at which election a majority of the legally quali-
fied electors owning taxable property in the City of Corpus Christi, Texas,
and who had duly rendered the same for taxation, voting at said election
sustained the proposition to issue the bonds hereinafter described by the
following vote:
"FOR THE ISSUANCE OF AIRPORT BONDS" 7334 Votes;
"AGAINST THE ISSUANCE OF AIRPORT BONDS" 5243 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 $1,750,000.00 of the above described bonds be issued
and sold at this time; and
WHEREAS, on the 24th day of November, 1953, an election
was held in the City of Corpus Christi, Texas, resulting favorably to the
issuance of $4,975,000.00 Storm Sewer Bonds; and
WHEREAS, on March 17, 1954, the City Council of the City
of Corpus Christi, Texas, passed an ordinance directing the issuance of
$1,015,000.00 Storm Sewer Bonds authorized at the election held November 24,
1953, and dated February 1, 1954; and
WHEREAS, on December 15, 1954, the City Council of the
City of Corpus Christi, Texas, passed an ordinance directing the issuance of
$1,210,000.00 Storm Sewer Bonds authorized at the election held November 24,
1953, and dated December 1, 1954; and
WHEREAS, on December 14, 1955, the City Council of the
City of Corpus Christi, Texas, passed an ordinance directing the issuance of
$1,140,000.00 Storm Sewer Bonds authorized at the election held November 24,
1953, and dated December 1, 1955; and
WHEREAS, it is deemed advisable and to the best interest
of the City that $820,000.00 Storm Sewer Bonds authorized at the e6 ction
held November 24, 19532 be issued and sold at this time;
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS
CHRISTI, TEXAS:
PERTAINING TO THE AIRPORT BONDS
1. That the bonds of said City to be called "City of
Corpus Christi, Texas, Airport Bonds, Series 1957 ", 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 providing funds to pay the cost of planning
and acquiring, developing, constructing and equipping an airport and a site
therefor, including building and other facilities incidental to the operation
thereof, and the acquisition or elimination of airport hazards, in the prin-
cipal amount of One Million Seven Hundred Fifty Thousand ($47507000.00)
Dollars.
2. That said bonds shall be numbered from One (1) to
One Thousand Seven Hundred Fifty (1,750), both inclusive, of the denomination
of One Thousand ($1,000.00) Dollars each, aggregating One Million Seven
Hundred Fifty Thousand ($1,750,000.00) Dollars.
3. That said bonds shall be dated February 1, 1957,
and shall become due and payable serially as follows:
BONDS NUMBERS MATURITY DATES AMOUNTS
1
to
125, both incl.,
February
1, 1959,
$ 125,000.00
126
to
250, "
February
1, 1960,
125,000.00
251
to
375, " "
February
1, 1961,
125,000.00
376
to
500, " "
February
1, 1962,
125,000.00
501
to
625, "
February
1, 1963,
125,000.00
626
to
750,
February
1, 1964,
125,000.00
751
to
875, "
February
1, 19659
125,000.00
876
to
1000, " "
February
1, 1966,
125,000.00
1001
to
1125, "
February
1, 1967,
125,000.00
BONDS NUMBERS MATURITY DATES AMOUNTS
1126 to 1250, both incl., February 1, 1968, $125,000.00
1251 to 1375, " February 1, 1969, 125,000.00
1376 to 1500, " " February 1, 1970, 125,000.00
1501 to 1625, " February 1, 1971, 125,000.00
1626 to 1750, " " February 1, 1972, 125,000.00
In Bonds Numbers Five Hundred One (501) to One Thousand
Seven Hundred Fifty (1,750), 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, 1962, at par and accrued interest to date
so fixed for redemption. Thirty days' notice of such call shall be given in
writing to the place 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 be-
ing 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 bank of pay-
ment by the date fixed for redemption, it shall not thereafter bear interest.
k. That said bonds shall bear interest at the rates
as followst
Bonds Nos. 1 to - 500, both incl., 4 1/2% per annum;
Bonds Nos. 501 to 7717, per annum;
Bonds Nos. to , " % per annum;
Bonds Nos. to per annum,
payable February 1, 1958, and semi - annually thereafter on August 1st and
February 1st of each year.
5. The form of said bonds shall be substantially as
follows:
NO.
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI
AIRPORT BOND
SERIES 1957
$1,000.00
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, 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, 1956, and semi - annually thereafter on August 1st and February 1st of each
year, both principal and interest payable upon presentation and surrender of
bond or proper coupon at the Corpus Christi State National Bank, Corpus
Christi, Texas, without exchange or collection charges to the owner or holder'
hereof, 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 One Thousand Seven
Hundred Fifty (1,750) bonds of like tenor and effect, except as to number,
interest rate, maturity and right of prior redemption, numbered from One (1)
to One Thoasand Seven Hundred Fifty (1,750), both inclusive, of the denomi-
nation of One Thousand ($1,000.00) Dollars each, aggregating One Million
Seven Hundred Fifty Thousand ($1,750,000.00) Dollars, issued for the purpose
of providing funds to pay the cost of planning and acquiring, developing,
constructing and equipping an airport and a site therefor, including build-
ing and other facilities incidental to the operation thereof, and the
acquisition or elimination of airport hazards, 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, 1957.
* *(The City reserves the option of calling this bond for
redemption prior to maturity on any interest payment date on and after
February 1, 1962, at per and accrued interest, provided thirty days' notice
of such call is given in writing to the place of payment and provided said
notice is 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 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 bank of payment by the date fixed for redemption, it
shall not thereafter bear interest.)
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 6th day of October, 1956; 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 some 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 the seal of said City to be impressed hereon
and this bond and the annexed coupons to be executed by the facsimile signa-
ture of the Mayor and countersigned by the facsimile signature of the City
Secretary.
Mayor, City of Corpus Christi, Texas.
COUNTERSIGNED:
City Secretary, City of Corpus Christi, Texas.
*(Bonds Nos. 1 to -50() , both incl., 4 112% per annum;
Bonds Nos. 05,1, to 1750 , " = % per annum;
Bonds Nos, to " " % per annum;
Bonds Nos. to , % per annum.)
* *(This paragraph should be omitted from Bonds Nos. 1 to 500, both incl.)
6. The form of coupon shall be substantially as follows:
N0. $
ON TIM 1ST DAY OF
19 II
The City of Corpus Christi, Texas, will pay to bearer,
*(unless the bond to which this coupon is attached shall have been called
for previous redemption as therein provided and provision for the redemption
thereof made), at the Corpus Christi State National Bank, Corpus Christi,
Texas, without exchange or collection charges to the owner or holder hereof,
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, Airport Bond, Series 1957 ",
dated February 1, 1957, No. J I
City Secretary ��, Mayor .
*(This parenthetical expression should be printed only in coupons maturing
August 1, 1962, and subsequent.)
I
PERTAINING TO STORM SEWER BONDS
7. That the bonds of said City to be called "City of
I Corpus Christi, Texas, Storm Sewer Bonds, Series 1957 ", be issued under and
jby 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
i
construction of storm sewers, in the principal amount of Eight Hundred Twenty
Thousand ($820,000.00) Dollars.
i
8. That said bonds shall be numbered from One (1) to
Eight Hundred Twenty (820), both inclusive, of the denomination of One
Thousand ($1,000.00) Dollars each, aggregating Eight Hundred Twenty Thousand
1
($820,000.00) Dollars.
9. That said bonds shall be dated February 1, 1957, and
E
! shall become due and payable serially as follows:
BONDS NUMBERS MATURITY DATES AMOUNTS
1 to 30, both incl., February 1, 1958, $ 30,000.00
31 to 60, " February 1, 1959, 30,000.00
61 to 90, " February 1, 1960, 30,000.00
91 to 120, " February 1, 1961, 30,000.00
121 to 150, February 1, 1962, 30,000.00
BONDS NUMBERS MATURITY DATES AMOUNTS
151
to
180, both incl.,
February
1,
1963,
$ 30,000.00
181
to
210,
February
1,
1964,
30,000.00
211
to
240, "
February
1,
1965,
30,000.00
241
to
270,
February
1,
1966,
30,000.00
271
to
300, "
February
1,
1967,
30,000.00
301
to
330,
February
1,
1968,
30,000.00
331
to
365,
February
1,
1969,
35,000.00
366
to
400, "
February
1,
1970,
35,000.00
4o1
to
435,
February
1,
1971,
35,000.00 9
436
to
470,
February
1,
1972,
35,000.00
471
to
505, "
February
1,
1973,
35,000.00
506
to
54o,
February
1,
1974,
35,000.00
541
to
575, " "
February
1,
1975,
35,000.00
576
to
61o,
February
1,
1976,
35,000.00
611
to
645,
February
1,
1977,
35,000.00
646
to
68o,
February
1,
1978,
35,000.00
681
to
715,
February
1,
1979,
35,000.00
716
to
750,
February
11
1980,
35,000.00
751
to
785,
February
1,
1981,
35,000.00
786
to
820, " "
February
1,
1982,
35,000.00
In Bonds Numbers Four Hundred Seventy One (471) to Eight
Hundred Twenty (820), 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, 1972, at par and accrued interest to date so fixed
for redemption. Thirty days' notice of such call shall be given in writing
to the place 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 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 bank of payment by
the date fixed for redemption, it shall not thereafter bear interest.
10. That said bonds shall bear interest at the rates
as follows:
Bonds Nos. 1 to 2 -0 , both incl.,I 112 % per annum;
Bonds Nos. 271 to, " )� per annum;
Bonds Nos. c',11 to -775-o-, " " 3 p per annum;
Bonds Nos. to " per annum,
,
payable February 1, 1958, and semi - annually thereafter on August 1st and
February 1st of each year.
11. 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
STORM SEWER BOND
SERIES 1957
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, 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
17 1958, and semi - annually thereafter on August 1st and February 1st of each
year, both principal and interest payable upon presentation and surrender of
bond or proper coupon at the Corpus Christi State National Bank, Corpus
Christi, Texas, without exchange or collection charges to the owner or holder
hereof, 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 Eight Hundred Twenty
(820) bonds of like tenor and effect, except as to number, interest rate,
maturity and right of prior redemption, numbered from One (1) to Eight Hundrec
Twenty (8820), both inclusive, of the denomination of One Thousand ($1,000.00)
Dollars each, aggregating Eight Hundred Twenty Thousand ($320,000.00) Dollars,
issued for the purpose of improving the streets of said City by the con-
struction of storm sewers, under and by virtue of the Constitution and laws
of the State of Texas and the Charter of said City, and pursuant to an or-
dinance passed by the City Council of the City of Corpus Christi, Texas, whi
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, 19517.
* *(The City reserves the option of calling this bond for
redemption prior to maturity on any interest payment date on and after
February 1, 1972) at par and accrued interest, provided thirty days' notice
of such call is given in writing to the place of payment and provided said
notice is 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 then 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 bank of payment by the date fixed for redemption, it
shall not thereafter bear interest.)
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 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
I
any constitutional, statutory or charter limitation.
i
i
IN WITNESS WHEREOF, the City of Corpus Christi, Texas,
by its City Council has caused the seal of said City to be impressed hereon
and this bond and the annexed coupons to be executed by the facsimile signa-
ture of the Mayor and countersigned by the facsimile signature of the City
Secretary.
ty of Corpus Christi, Texas.
COUNTERSIGNED:
City Secretary, City of Corpus Christi, Texas.
*(Bonds Nos. 1 to 2-(0 , both incl., 4 1/2 % per annum;
Bonds Nos. 271 to 60 , a� per annum;
Bonds Nos. v1 to i20 per annum;
Bonds Nos, to per annum.)
* *(This paragraph should be omitted from Bonds Nos. 1 to 470, both incl.)
12. 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 called
for previous redemption as therein provided and provision for the redemption
thereof made), at the Corpus Christi State National Bank, Corpus Christi,
Texas, without exchange or collection charges to the owner or holder hereof,
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
1957 ", dated February 1, 1957, No. G
City Secretary Mayor.
*(This parenthetical expression should be printed only in coupons maturing
August 1, 1972, and subsequent.)
PERTAINING TO BOTH ISSUES
13. Substantially the following certificate shall be
printed on the back of each bond:
OFFICE OF COMPTROLLER
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)
14. That the principal and interest of said bonds shall
be payable upon presentation and surrender of bond or proper coupon at the
Corpus Christi State National Bank, Corpus Christi, Texas, Ttthout exchange
or collection charges to the owner or holder thereof,
15. That each of said bonds and interest coupons shall
be executed by the imprinted facsimile signature of the Mayor and counter-
signed by the imprinted facsimile signature of the City Secretary, and the
corporate seal of the City of Corpus Christi, Texas, shall be impressed upon
each of said bonds. Such facsimile signatures shall have the same effect as
manual signatures..
16. That special funds shall be created and are hereby
created to be designated as follows:
"City of Corpus Christi, Texas, Airport Bonds, Series 1957 Fund ";
"City of Corpus Christi, Texas, Storm Sewer Bonds, Series 1957 Fund ".
The proceeds from all taxes collected for and on account of each of said
series 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 pur-
pose of paying each installment of principal as it becomes due, and said
funds shall be used for no other purpose. For the current year and each
year while any of said bonds, or interest thereon, are outstanding and un-
paid, 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 make, 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 pay the principal 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 determined is hereby ordered to be levied
and is hereby levied against all of the taxable property in said City for the
current year and each year respectively while any of the bonds of each of sai
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 purpose.
17. 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
and registration by the Comptroller of Public Accounts. Upon registration
of said bonds, the Comptroller of Public Accounts (or a deputy designated
in writing to act for the Comptroller) shall manually sign the Comptroller's
certificate of registration prescribed herein to be printed on the back of
each bond, and the seal of said Comptroller shall be affixed to each of said
bonds.
18. The sale of the bonds herein authorized to
MFFRRI LL, LYNCH, PI ERCEy FENNER & [3EAN NEW YORK ANO Assoc I ATES ,
at a price of par and accrued interest to date of delivery, plus a premium
AIRPORT "11.77
Of $aORMIVIER1 7.11 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.
19. That all ordinances and resolutions or parts thereof
in conflict herewith are hereby repealed. I
20. 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 4
of the City Council and the Mayor having declared that such public emergency
and imperative necessity exist, and having requested that said Charter Rule
be suspended and that this ordinance take effect and be in full force and
effect from and after its passage, it is accordingly so ordained.
PASSED ARID APPROVED this the 16th day of Janua , 19Z7
Mayor, City of Corpus Christi, Texas.
ATTEST;
City Secretary, C' y of rpus C isti,
T xas.
V P 0➢ 0 ��; Z F
C ty Attorney, City o Corpus Christi,
Texas.
The foregoing ordinance has been approved as to form
and correctness this 76-rri day of January, 1957•
ty Attorney', City o fCorPus Chris
Texas.
C PUS CHRISTI, TEXAS
1959
TO THE MEMBERS OF THE CITY COUNCIL
CORPUS CHRISTI, TEXAS
GENTLEMEN:
FOR THE REASONS SET FORTH IN THE EMERGENCY CLAUSE OF:TIFE FORE-
GOING ORDINANCE, A PUBLIC EMERGENCY AND IMPERATIVE NECESSITY EXIST FOR THE
SUSPENSION OF THE CHARTER RULE OR REQUIREMENT THAT NO ORDINANCE OR RESOLU-
TION SHALL BE PASSED FINALLY ON THE DATE IT LS INTRODUCED, AND THAT SUCH'
ORDINANCE OR RESOLUTION SMALL 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 15 INTRO-
DUCED, OR AT THE PRESENT MEETING OF THE CITY COUNCIL.
RESPECTFULLY,
MA
THE CITY OF CORPUS CHRISTI, TEXAS
THE CHARTER RULE WAS SUSPENDED BY THE FOLLOWING VOTE:
FARRELL 0. SMITH
7
W. J. ROBERTS
MINOR CULLI
B. E, BIGLER
MANUEL P, MALDONADO /
THE ABOVE ORDINANCE WAS PASSED BY THE FOLLOWING VOTE;
FARRE.1.4 J), SMITH
W. J. ROBERTS
MINOR CULLI
i
B, E. BIGLER
MANUEL P. MALDONADO
y-Jl