The URL can be used to link to this page

Home My WebLink About05023 ORD - 04/23/1958IMS:EB:4 /23/58 AN ORDINANCE ACCEPTING THE BID PROPOSAL OF DITTMAR & COMPANY FOR THE REFUNDING OF $304,000.00 IN BONDS AND AUTHORIZ- ING THE CITY MANAGER TO ACKNOWLEDGE ACCEPTANCE OF SAID PROPOSAL; DIRECTING THE CITY SECRETARY AND CITY ATTORNEY TO PERFORM THE NECESSARY DUTIES OF THEIR OFFICE IN CONNECTION WITH THE REFUNDING OF THE BONDS LISTED IN SAID PROPOSAL; AND DECLARING AN EMERGENCY. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. THAT THE BID PROPOSAL OF DITTMAR & COMPANY, DATED APRIL 23, 1958, AND RECEIVED AT THE SPECIAL MEETING OF THE CITY COUNCIL AT 10:00 OtCLOCK A. M. ON APRIL 23, 1958, BE AND THE SAME IS HEREBY ACCEPTED IN ACCORDANCE WITH ITS TERMS AND PROVISIONS, A COPY OF WHICH 15 ATTACHED HERETO AND MADE A PART HEREOF. THE CITY MANAGER IS AUTHORIZED TO ACKNOWLEDGE ACCEPTANCE OF THE SAID BID PROPOSAL. SECTION 2. THE CITY SECRETARY, CITY ATTORNEY AND ALL OTHER PROPER OFFICIALS OF THE CITY ARE HEREBY AUTHORIZED AND INSTRUCTED TO PER- FORM THE DUTIES INCIDENT TO THEIR OFFICE IN CONNECTION WITH THE PREPARATION AND SUBMISSION TO THE COUNCIL OF SUCH INSTRUMENTS, ORDINANCES, PAPERS AND DOCUMENTS AS MAY BE NECESSARY, REQUISITE AND PROPER TO CARRY OUT THE ACTION NECESSARY TO EFFECTUATE THE REFUNDING OF THE SAID OUTSTANDING OBLIGATION OF THE CITY AS SPECIFIED IN SAID AGREEMENT FOR THE ISSUING OF NEW REFUNDING BONDS OF THE CITY. SECTION 3. THE FACT THAT THE CITY DESIRES TO PUT INTO IMMEDIATE FORCE AND EFFECT THE BID PROPOSAL AND REFUNDING PLAN AFORESAID IN ACCORDANCE WITH THE PROVISIONS OF THE BID PROPOSAL THIS DAY ACCEPTED BY THE CITY AND TO PERMIT AND AUTHORIZE THE ISSUANCE OF REFUNDING BONDS SO AS TO CALL AND DISCHARGE THE OUTSTANDING BONDS CREATES A PUBLIC EMERGENCY AND AN IMPERATIVE PUBLIC NECESSITY REQUIRING THE SUSPENSION OF THE CHARTER RULE THAT NO ORDI- NANCE OR RESOLUTION SHALL BE PASSED FINALLY ON THE DATE OF ITS INTRODUCTION AND THAT SUCH ORDINANCE OR RESOLUTION SHALL BE READ AT THREE SEVERAL MEET- INGS OF THE CITY COUNCIL, AND THE MAYOR, HAVING DECLARED SUCH EMERGENCY AND NECESSITY TO EXIST, HAVING REQUESTED THE SUSPENSION OF SAID CHARTER RULE AND THAT THIS ORDINANCE BE PASSED FINALLY ON THE DATE OF ITS INTRODUC- TION AND THAT SUCH ORDINANCE TAKE EFFECT AND BE IN FULL FORCE AND EFFECT FROM AND AFTER ITS PASSAGE, IT IS ACCORDINGLY SO ORDAINED. ` PASSED AND APPROVED, THIS THE /' / DAY OF APRIL, 1958. ATTEST: CA--c CITY SECRETA APPROVED AS TO LEGAL FORM THIS ,2...? DAY OF APRIL, 1958: MAYO THE CITY OF CORPUS CHRISTI, TEXAS 1 flTMAi & CO, TANY SAN ANIONII) & DALLAS, TEXAS April 23, 1958. -ro the Moisonsb le .P&Yer ;( city_Cotmcian Corpus Christi, Texas. Gentlemen: CITY OF CORPUS CHRISTI REFUNDING Foz the legally issued SERIES 011 City 304.000 al raw' ., it. the par value of # dsaa . _......Ataclia,Lkli • in denomination of . $ le OW a°4 to "litu't OR December 1st ea follows: $101,000 1964 201,000 1965 102,000 1966 to bear interest, payable semi-annually • Julie 1st la Dec. 1st from dare of bonds to date of maturity, as follows: Maturities 1 41 4( to igt42 Maturities to Maturities to hoods to be The Corpus Chrisd State National Bank, Corpus Christi, Texas. , inclusive, at 2. 1 % per annum. , inclusive, at ...% per annum. inclusive, at per .1.1111. Maturities to ‘,91:clusive, at % per annum WE WM PAY par plus a cash premium of $ /4-62 ;: • It is understood that we will provide funds on June 1st, 1958. to take up and pay for the called bonds and hold them for exchange at par flat for the above described refunding bonds. It is understood that we may make this exchange in amounts and at times as requested by us. This bid is made in compliance with your Notice of Sale published in the Texas Bond Reporter c April 21st. 1958, all of the terms and conditions of which are made a part hereof. oiler u for immediate ACterIa1,1 only, and is made subject to the unqualified approval of their legality by the Attorney- General of the 51,0 cli Texas, and by some reiognixed Bond Attorney to be designated by us, and whose fee we will pay. You agree to furnish ii : and tomplete tom, IN or all proceedings incident to the ISS1131, C ui said bonds. Printed bonds UV to be furnished by .4.4 . Delivery of the bonds Is to be made at Office of the Comptroller of Public.Accounts, Austin, Texas. You agree it, ;say us $ . nOTte . o cover expenses incurred by us. Tbna • amreement shall he biniling upon us for a period of .120 days from PIS thilt, rod in the n'1111 you are unatox tr.,: deliver such bonds 5,, us withr■ the prescribed period in conformity with the provisions hereof, then and in Th31 event, we shall no longer Inc I.ound by the terms lieteof. but shall have ..n irrevoia to hle option upon itith bonds r Inc 20 e days next succeeding Inc t expiration of 001111 •0nitinew the .1, ter!, and conditions herein retited. As evidence of our good faith, vit an lose, herewith, check in the amount of I 6.080. 00 . to be held by you uneashed, and re- turned to us when we have ca, bed out the terms of owl agreement, or ihoirli; we fad or refuse so take up said bonds, to be forfeited by us as full and ix-i:wicte liquidating s :11i in full and final settlement of any all claims against us arising througli breach of OVF arreeioext, Reipecriolly Ne; interev ,1111 $ 4 — Averavc FAIP Q DI FIMAR 3, COMPANY 111 JEP-PdS A We, the duly authorize,: officials of the City ot 1OrP14,15 Christi, Texas, . , hereby accept the above proposition, and selt w the above named parties, the above described bonds on Inc terms and conditions hereinhefore set forth, thia 23rd day of April Attest CITY SECRETARY 58 , . MAYOR CORPUS CHRTSTI, TEXAS 4e) , 1958 TO THE MEMBERS OF THE CITY COUNCIL CORPUS CHRISTI, TEXAS GENTLEMEN: FOR THE REASONS SET FORTH IN THE EMERGENCY CLAUSE OF THE FORE- GOING. ORDINANCES A PUBLIC EMERGENCY AND IMPERATIVE NECESSITY EXIST FOR THE SUSPENSION OF THE CHARTER RULE OR REQUIREMENT THAT NO ORDINANCE OR RESOLU- ORDINANCE OR RESOLUTION SHALL BE READ AT THREE MEETINGSEOF THE CITY SUCH TION SHALL BE PASSED FINALLY ON THE DATE IT IS INT AND THA Y COUNCILi 1, THEREFORE, HEREBY YOU REQUEST THAT U SUSPEND SAID CHARTER RULE OR REQUIREMENT AND PASS THIS'ORDINANCE FINALLY ON THE DATE IT IS INTRO - DUCED, OR AT THE PRESENT MEETING OF THE CITY COUNCIL. RESPECTFULLY MAYOR THE CITY OF CORPUS CHRIST -I, TEXAS THE CHARTER RULE WAS SUSPENDED BY THE FOLLOWING VOTE: FARRELL D. SMITH W. J. ROBERTS B. E. BIGLER MANUEL P. MALDONADO CHARLIE J. AILLS ARTHUR R. JAMES ODELL INGLE THE ABOVE ORDINANCE WAS PASSED BY THE FOLLOWING VO E: FARRELL D. SMITH W. J. ROBERTS B. E. BIGLER MANUEL P. MALDONADO CHARLIE J. AILLS ARTHUR R. JAMES ODELL INGLE z3 ALEXANDER -GLASS AGENCY General Laurance 4240 AYERS STREET - P. O. BOX 7368 CORPUS CHRISTI. TEXAS HERBERT ALEXANDER City of Corpus Vhriati License and Periit Department City Hall Corpus Chriati,'1'exaa Gentlemen: October 8, 1958 Re: Gentry and Graham Plumbing Company Master Plumbers "Bond We are enclosing herewith Commercial Standard Insurance Company Renewal Certificate no. 13942 which renews the bond for the plumber in caption for a term of one year. ia/ co: Gentry & Graham Plumbing Company Yours very truly, Alexander -Glass Agency ye) FOR 15 YEARS "The Home of Friendly Service" Bar N °• 1394 AGENCY A.e> der -Glass nor P.O. Box 7368 Corpus Ceututi, TOMBS COM/TIERCIA10 STANDARD INSURANCE COMPANY gala -O • FORT io FORTWORM TWA cndd •otis of he p■ymmt of dw reamsl mi= of le41° Bond No by ao}AORCUL STANDARD INAntanag compAlOy to assobrir & Plosidos Co. np of Cowls Christi, Tufts i hereby continued in force for the period from r1,�r 211/ h dsy of - &6lifMet v -58 to the - 28th —day of /Want- 19 59 soblot, hoverer to the terms. condidoos and limitations imprinted in the odtlnai bond. In Witness Whereof, the Commercial Standard Insurance Company has caused this Bond renewal Certificate to be signed by its President and Secretary, but it shall not be binding unless countersigned by an authorized attorney in fact of ehe Company RENEWAL CERTIFICATE 86052 Secretary Clt frmms- andpres tt lire' V•243& P.scsla Aria Zrith day Nay 19 Menu, 4 Fre.