HomeMy WebLinkAboutMinutes City Council - 11/08/1978 - Special (2)PRESENT:
Mayor Gabe Lozano, Sr.
Mayor Pro Tem Bob Gulley
Council Members:
David Diaz
Ruth Gill
Joe Holt
Tony Juarez, Jr.
Edward L. Sample
MINUTES
CITY OF CORPUS CHRISTI, TEXAS
SPECIAL COUNCIL MEETING
NOVEMBER 8, 1978
11:00 A. M.
City Manager R. Marvin Townsend
City Attorney J. Bruce Aycock
City Secretary Bill G. Read
Mayor Gabe Lozano, Sr. called the meeting to order in the Council Chambers
of City Hall.
City Secretary Bill G. Read called the roll of required Charter Officers
and stated that a quorum was present to conduct a legally constituted meeting.
Mayor Lozano stated that the purpose of the meeting was for the receipt and
opening of bids for the sale of $5,000,000 of General Improvement Bonds voted on
November 8, 1977.
Mr. Harold Zick, Director of Finance, opened and read bids from the following
nine firms: Republic National Bank of Dallas and Associates; Harris Trust & Savings
Bank, Chicago; Merrill Lynch White Weld Capital Markets Group and Associates; First
National Bank in Dallas; Citibank, N.A.; Rowles, Winston Division Cowen & Co.;
Corpus Christi National Bank; Morgan Guaranty Trust Co. of N.Y.; and First City
National Bank of Houston. (Bid tabulations of the bids from these firms are attached
and constitute a portion of the minutes.)
The meeting was recessed at 11:23 a.m. for the computation of bids.
* * * .. * * * * * * * * * * *",
The meeting was reconvened at 11:37 a.m.
City Manager Townsend recommended award of bid for $5,000,000 of General
Improvement Bonds, Series 1978-A to the Republic National Bank of Dallas and
Associates, with an effective interest rate of 5.42719.
Minutes
Special Council Meeting
November 8, 1978
Motion by Diaz that the City Manager's recommendation be approved; seconded
by Holt, and passed unanimously.
City Manager Townsend presented the following Resolution and Ordinance
pertaining to the sale of bonds, and they were approved by the following vote:
ORDINANCE NO. 14601:
BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS, PROVIDING FOR THE ISSUANCE
OF $5,000,000 CITY OF CORPUS CHRISTI, TEXAS, GENERAL IMPROVEMENT BONDS, SERIES 1978-A,
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.
The•Charter Rule was suspended and the foregoing ordinance was passed by the following
vote: Lozano, Gulley, Diaz, Gill, Holt, Juarez and Sample voting "Aye".
RESOLUTION NO. 14602:
APPROVING THE FORM OF THE OFFICIAL STATEMENT PERTAINING TO CITY OF CORPUS CHRISTI,
TEXAS, GENERAL IMPROVEMENT BONDS, SERIES 1978-A, AND AUTHORIZING, RATIFYING AND
APPROVING THE OFFICIAL STATEMENT AND THE USE THEREOF IN THE OFFERING AND SALE OF
SAID BONDS; AND DECLARING AN EMERGENCY.
The Charter Rule was suspended and the foregoing ordinance was passed by the following
vote: Lozano, Gulley, Diaz, Gill, Holt, Juarez and Sample voting "Aye".
There being no further business to come before the Council during this Special
Council Meeting, on motion by Gulley, seconded by Holt, and passed unanimously; the
meeting was adjourned at 11:43 a.m.
BOND RATINGS - Moody's Investors Service, Inc. Aa
4 Standard_& Poor's Corporation AA
CITY OF CORPUS CHRISTTI, TEXAS
BID TABULATION - $5,000,000 GENERAL IMPROVEMENT BONDS, SERIES 1978-A
BIDS OPENED: 11:00 A.M., NOVEMBER 8, 1978
BIDDER
Republic National Bank of Dallas
and Associates
Harris Trust & Savings Bank, Chicago
The Northern Trust Company
The First Boston Corporation
Mellon Bank N.A.
Merrill Lynch White Weld Capital
Markets Group and Associates
First National Bank in Dallas
Loeb Rhoades Hornblower & Co.
Southeast First National Bank Miami
Girard Bank
Fort Worth National Bank
Paine, Webber, Jackson & Curtis, Inc.
Texas Commerce Bank N.A.
E. F. Hutton & Co., Inc.
Kidder Peabody & Co., Inc.
Bank of Oklahoma N.A.
Citibank, N.A.
Bankers Trust Company
First National Bank of Chicago
W. H. Morton & Co. (Div. of
Amer. Exp. Co.)
Bancn orthwes t
Matthews & Wright, Inc.
First National Bank of Boston
Rowles, Winston Division Cowen & Co.
Rauscher Pierce Refnes, Inc.
Underwood, Neuhaus & Co., Inc.
John Nuveen & Co., Inc.
First Southwest Company
Effective Total Less Net
Interest Interest Cash Interest
Rate Cost Premium Cost
5.42719 $3,144,337.50 $ 637.50 $3,143,700.00
5.43688 3,151,118.75 1,770.00 3,149,348.75
5.4427 3,152,850.00 116.75 3,152,733.25
5.4698 3,168,600.00 193.75 3,168,406.25
5.4888 3,180,600.00 1,200.00 3,179,400.00
5.497734 3,184,562.50 3,184,562.50
Corpus Christi National Bank 5.505093
Mercantile National Bank - Dallas
Morgan Guaranty Trust Co. of N.Y.
Salomon Brothers
Donaldson, Lufkin & Jenrette Sec. Corp.
Bear, Stearns & Co.
Ehrlich -Bober Company
First City National Bank of Houston
3,188,825.00 3,188,825.00
5.5163 3,196,625.00 1,266.00 3,195,359.00
5.532564 3,204,737.50
-- 3,204,737.50
MICROFILMED
SEP 0 4 1980
OFFICIAL BID FORM
PROPOSAL FOR
$5,000,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1978-A
The City of Corpus Christi November 8, 1978
Corpus Christi, Texas
Gentlemen:
Subject to the terms of the Official Statement and Official Notice of Sale we offer to pay par plus
accrued interest to date of delivery and a cash premium of $ 631.50 for $5 000 000 City
of Corpus Christi, Texas, General Improvement Bonds, Series 1978-A bearing interest at the following
rates:
For Bonds Maturing Coupon Rate
1979through 1982 6 75 %
1983 through 1993 5.25 %
1994 txat Only 5 40 %
1995through 1996 5.50 %
1997 through 1933 5.60 %
We agree to accept delivery and make payment for the bonds without cost to us at City
National Bank, Austin, Texas; or at the
and in accordance with the Official Notice of Sale
agree to pay all expenses.
Cashier's Check No issued by City National Bank, Austin, Texas
payable unconditionally to the City of Corpus Christi, in the amount of $100,000 (ixx5tottekmi: re
(has been made available to you prior to the opening of this bid) as a Good Faith Deposit for disposition
in accordance with the Official Notice of Sale. Upon delivery of the bonds, said check shall be (deducted
from the purchase price) or (returned to us). Strike out inapplicable phrases.
By Republic National Bank of Dallas & Assoc.
Account Manager
Accepted by the City Council on thi
ATTEST:
By A/ws'^""t •C-
��l'l�sAi
ayor, Ci" of
uthorired R reser
Kerne K) Lind ren;
VPii.,6ei 1978
City Secretary
Please supply the following information which is not a part of this bid:
$3,144,337.50
Total Interest Cost
Lcss Cash Premium
Net Interest Cost
637.50
3,143,700.00
5.42719
Effective Rate of Interest
ve
P.
hristi, Texas
La
pj(j)
Receipt is acknowledged on behalf of bidder of above described Good Faith Check this day
of 1978.
By
OFFICIAL BID FORM
PROPOSAL FOR
$5,000,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1978-A
The City of Corpus Christi November 8, 1978
Corpus Christi, Texas
Gentlemen:
Subject to the terms of the Official Statement and Official Notice of Sale we offer to pay par plus
accrued interest to date of delivery and a cash premium of $ 1.770.00 for $5 000 000 City
of Corpus Christi, Texas, General Improvement Bonds, Series 1978-A bearing interest at the following
rates:
For Bonds Maturing Coupon Rate
1979 through 1993 5.375
1994 through 1995 5.45
1996 through 5.50
1997 through 5.55
1998through 5.60 %
We agree to accept delivery and make payment for the bonds without cost to us at THE AMERICAN
NATIONAL Bank Austin, Texas; or at the
and in accordance with the Official Notice of Sale
agree to pay all expenses.
%
Cashier's Check No M 36937 issued by HARRIS TRUST AND SAVINGS BANK, CHICAGO
payable unconditionally to the City of Corpus Christi, in the amount of 8100,000 (is attached hereto)
(i f )6 )Winigi(1Miii tHitY4MX>S OXYCK 1M)PSR) as a Good Faith Deposit for disposition
in accordance with the Official Notice of Sale. Upon delivery of the bonds, said check shall be X NI
fliciriyt)ixVveX(XAM or (returned to us). Strike out inapplicable phrases.
By HARRIS TRUST AND SAVINGS BANK, CHICAGO
Account Manager
HARRIS TRUST AND SAVINGS BANK
:TI FERN-Ti2USPAN-1•
THE FIRST BOSTON CORPORATION
JOINT MANAGERS
MELLON BANK N.A.
FIRST PENNCO SECURITIES INC.
WAUTERLEK & GROWN, INC.
By: Harris Trust and Savings Bank
Authorized Representative
Assistant Vice President
Accepted by the City Council on this day of 1978
Mayor, City of Corpus Christi, Texas
ATTEST:
City Secretary
Please supply the following information which is not a part of this bid:
$ 3,151,118.75
Total Interest Cost
Less Cash Premium
Net Interest Cost $ 3,149,348.75
Effective Rate of Interest 5.43688
Receipt is acknowledged on behalf of bidder of above described Good Faith Check this
of 1978.
$ - 1,770.00
By
day
OFFICIAL BID FORM
PROPOSAL FOR
$5,000,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1978-A
The City of Corpus Christi November 8, 1978
Corpus Christi, Texas
Gentlemen:
Subject to the terms of the Official Statement and Official Notice of Sale we offer to pay par plus
accrued interest to date of delivery and a cash premium of $ 116.75 for $5 000 000 City
of Corpus Christi, Texas, General Improvement Bonds, Series 1978-A bearing interest at the following
rates:
For Bonds Maturing Coupon Rate
1979 through 1986 6. %
1987 ihrnogh 5.75 %
1988 through 1991 5.25
1992 ifitt5 h 5.30 %
1993 through 1998 5.40 %
We agree to accept delivery and make payment for the bonds without cost to us at
Rank Austin, Texas; or at the
and in accordance with the Official Notice of Sale
agree to pay all expenses.
Cashier's Check No issued by Americ an National Bank, Austin, Texas
payable unconditionally to the City of Corpus Christi, in the amount of $100,000 XrdalarlXi
(has been made available to you prior to the opening of this bid) as a Good Faith Deposit for disposition
in accordance with the Official Notice of Sale. Upon delivery of the bonds, said check shall be W20E8X
} (returned to us). Strike out inapplicable phrases.
By Merrill Lynch White Weld Capital Markets Group
Account Manager
And Associates
.By.. Z47 / CC7 L
Authorized Representative
Robert 'J. Flood
Accepted by the City Council on this clay of 1978
Mayor. City of Corpus Christi, Texas
ATTEST:
City Secretary
Please supply the following information which is not a part of this bid:
Total Interest Cost $ 3,152,850
Less Cash Premium
Net Interest Cost
$ 116.75
$ 3,152,733.25
Effective Rate of Interest 5.11427
Receipt is acknowledged on behalf of bidder of above described Good Faith Check this
of 1978.
day
By
OFFICIAL BID FORM
PROPOSAL FOR
$5,000,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1978-A
The City of Corpus Christi November 8, 1978
Corpus Christi, Texas
Gentlemen:
Subject to the terms of the Official Statement and Official Notice of Sale we offer to pay par plus
accrued interest to date of delivery and a cash premium of $ /r)-3.7 S for 85 000 000 City
of Corpus Christi, Texas, General Improvement Bonds, Series 1978-A bearing interest at the following
rates:
For Bonds Maturing Coupon Rate
1979 through 1963 7.00 %
/964 through /9'9/ S- Z$` %
i992. through ..S.: SD %
i 19.3 through -- S , ¢d %
/ 99 through /99€ S. SO %
We agree to accept delivery and make payment for the bonds without cost to us at
Bank, Austin, Texas: or at the l—,,2S7— 4.1:9-t7r/7.4 L /?4_()ie_ /xi
6R1-G4S 7.) RG.t.A5 %£5495 and in accordance with the Official Notice of Sale
agree to pay all expenses.
Cashier's Check No CS081367 issued by First National Bank in Dallas,Dallos, Texas
payable unconditionally to the City of Corpus Christi, in the amount of $100,000 (is attached hereto)
(hastheoatuarlxxoaxitad hxxoUygupYioxxPtxk xtdxtro 5ti4k>mdd) as a Good Faith Deposit for disposition
in accordance with the Official Notice of Sale. Upon delivery of the bonds, said check shall be (deducted
from the purchase price) or (xetautt tltp6'a 4. Strike out inapplicable phrases.
By FIRST NATIONAL BANK IN DALLAS
Account Manager
R Aw,eintps (CPP I ist Attnr1Prl)
By I%4_
Au orized Reprer�tative tpP
Mary i�rst t o t6riC shsciNtin 6aair s s'
Accepted by the City Council on this clay of 1978
Mayor, City of Corpus Christi, Texas
ATTEST:
City Secretary
Please supply the following information which is not a part of this bid:
Total Interest Cost $ 3, /6, Ri 600. 00
Less Cash Premium $ • / 93. 75`
Net Interest Cost $ & /64/ %G 6. ZS--
Effective
S'Effective Rate of Interest s. 969 , %
Receipt is acknowledged on behalf of bidder of above described Good Faith Check this day
of 1978.
By
IONAL BANK IN DALLAS
DALLAS. TEXAS
$5,000,000
CITY OF CORPUS CHRISTI, TEXAS
General Improvement Bonds, Series 1978-A
Selling: November 8, 1978
First National B.nk in Dallas
Loeb Rhoades Hornblower & Co.
Southeast First National Bank Miami
Girard Bank •
Fort Worth National Bank
Paine, Webber, Jackson & Curtis, Inc.
Texas Commerce Bank N.A.
E.F. Hutton &Co., Inc.
Kidder Peabody & Co., Inc.
Bank of Oklahoma N.A.
OFFICIAL BID FORM
PROPOSAL FOR
$5,000,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1978•A
The City of Corpus Christi November 8, 1978
Corpus Christi, Texas
Gentlemen:
Subject to the terms of the Official Statement and Official Notice of Sale we offer to pay par plus
accrued interest to date of delivery and a cash premium of $ 1,200.00 for $5 000 000 City
of Corpus Christi, Texas, General Improvement Bonds, Series 1978-A bearing interest at the following
rates:
For Bonds Maturing Coupon Rate
1979through 1983 7.20 %
1984through 1990 5.25 %
1991 through 5.30 %
1992 through 1993 5.40 %
1994 through 1998 5.50 %
We agree to accept delivery and make payment for the bonds without cost to us at American
National Bank, Austin, Texas; or at the
and in accordance with the Official Notice of Sale
agree to pay all expenses.
Cashier's Check NoRnM 076967 issued by fitihank , N A
payable unconditionally to the City of Corpus Christi, in the amount of $100,000 (is attached hereto)
(baexbexat -. • as a Good Faith Deposit for disposition
in accordance with the Official Notice of Sale. Upon delivery of the bonds, said check shall be (deducted
from the purchase price) or (rAt.i atktools)• Strike out inapplicable phrases.
By CITIBANK, N A
Account Manager
BANKERS TRUST COMPANY
FIRST NATIONAL BANK OF CHICAGO
w.H.mORTON & CO.(DIV.OF AAR.EXP. CO. )
BANCNORTHWEST
MATTHEWS & WRIGHT, INC.
FIRST NATIONAL BANK OF BOSTON
Accepted by the City Council on this day of
ATTEST:
By
MarM nfrlAulpirfrCatAti. Manager
1978
Mayor. City of Corpus Christi, Texas
City Secretary
Please supply the following information which is not a part of this bid:
Total Interest Cost $3,180,600.00
Less Cash Premium $ 1, 200.00
Net Interest Cost $3,179,400.00
Effective Rate of Interest 5.4888
Receipt is acknowledged on behalf of bidder of above described Good Faith Check this day
of , 1978.
By
OFFICIAL BID FORM
PROPOSAL FOR
$5,000,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1978-A
The City of Corpus Christi November 8. 1978
Corpus Christi, Texas
Gentlemen:
Subject to the terms of the Official Statement and Official Notice of Sale we offer to pay par plus
accrued interest to date of delivery and a cash premium of $ —0— for $5 000 000 City
of Corpus Christi, Texas, General Improvement Bonds, Series 1978-A bearing interest at the following
rates:
For Bonds Maturing Coupon Rate
1979 through 1985 6.25 %
1986 through 6.125
1987 through 1992 5.25 %
1993 through 5.40 %
1994 through 1998 5.50 %
We agree to accept delivery and make payment for the bonds without cost to us at City
National Bank, Austin, Texas; or at the
and in accordance with the Official Notice of Sale
agree to pay all expenses.
Cashiers Check No issuedby City National Rank, Austin, Texae
payable unconditionally to the City of Corpus Christi, in the amount of $100,000 (ilWiU458,`61td)
(has been made available to you prior to the opening of this bid) as a Good Faith Deposit for disposition
in accordance with the Official Notice of Sale. Upon delivery of the bonds, said check shall be (dnitatkai
3ftn,urx xrobxam ptab m) or (returned to us). Strike out inapplicable phrases.
By ROWIFS, WTNSTON DTUTSTON COWFN R CO
Account Manager
RAUSCHER PIERCE REFNES, INC.
UNDFRWOOD,. NFIIHAUS & CO.. INCORPORATED
JOHN NUVFFN & CO.. INCORPORATED
First Snuthwact Company
)Jt
Accepted by the City Council on this
ATTEST:
. Mgrs.11nitad California Rank
Kirchner Moore & Company
By
Authorized Representativ
Bob Schnakenberg
day of 1978
4:4o JIM -ol,
epherd Inc.
Mayor, City of Corpus Christi, Texas
City Secretary
Please supply the following information which is not a part of this bid:
Total Interest Cost $
Less Cash Premium $
Net Interest Cost $
Effective Rate of Interest
3,184,562.50
3,184,562.50
5.497734
Receipt is acknowledged on behalf of bidder of above described Good Faith Check this day
of 1978.
By
OFFICIAL BID FORM
PROPOSAL FOR
$5,000,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1978-A
The City of Corpus Christi
Corpus Christi, Texas
November 8, 1978
Gentlemen:
Subject to the terms of the Official Statement and Official Notice of Sale we offer to pay par plus
accrued interest to date of delivery and a cash premium of $ -0- for $5,000,000 City
of Corpus Christi, Texas, General Improvement Bonds, Series 1978-A bearing interest at the following
rates:
For Bonds Maturing Coupon Rate
1979 through 1983 6.50 %
1984 through 1990 5.30 %
1991 through 1993 5.40
1994 through 1995 5.50
1996 through 1998 5.60 %
We agree to accept delivery and make payment for the bonds without cost to us at American
National Bank, Austin, Texas; or at the
and in accordance with the Official Notice of Sale
agree to pay all expenses.
Cashiers Check No - issued by American National Bank, Austin, Texas
payable unconditionally to the City of Corpus Christi, in the amount of $100,000 (isxnatatluuYHttxatu)
(has been made available to you prior to the opening of this bid) as a Good Faith Deposit for disposition
in accordance with the Official Notice of Sale. Upon delivery of the bonds, said check shall be (dm3utxod
&accoa=p tep or (returned to us). Strike out inapplicable phrases.
By
Corpus Christi National Bank
Account Manager
Mercantile National Bank -Dallas
By
Q
OAu�}torized Representative
Jerry W. Gates
Accepted by the City Council on this day of 1978
Mayor, City of Corpus Christi, Texas
ATTEST:
City Secretary
Please supply the following information which is not a part of this bid:
Total Interest Cost $ 3,188, 825.00
Less Cash Premium $ -0-
Net Interest Cost $ 3,188,825.00
Effective Rate of Interest 5.505093
Receipt is acknowledged on behalf of bidder of above described Good Faith Check this day
of , 1978.
By
OFFICIAL BID FORM
PROPOSAL FOR
$5,000,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1978-A
The City of Corpus Christi November 8, 1978
Corpus Christi, Texas
Gentlemen:
Subject to the terms of the Official Statement and Official Notice of Sale we offer to pay par plus
accrued interest to date of delivery and a cash premium of $ 1,266.00 for $5,000,000 City
of Corpus Christi, Texas, General Improvement Bonds, Series 1978-A bearing interest at the following
rates:
For Bonds Maturing Coupon Rate
1979 through 1983 6.90 %
1984 through 1991 5.30
1992 through 1993 5.40 %
1994 through 1995 5.50 of
1996 through 1998 5.60 ofo
We agree to accept delivery and make payment for the bonds without cost to us at to be
dP4i grM- d Bank Austin, Texas; or at the
and in accordance with the Official Notice of Sale
agree to pay all expenses.
Cashier's Check No i sued by Ameri ran Nati nnal Bank, A ua _in, Texas
payable unconditionally to the City of Corpus Christi, in the amount of $100,000 (knottad he us)
(has been made available to you prior to the opening of this bid) as a Good Faith Deposit for disposition
in accordance with the Official Notice of Sale. Upon delivery of the bonds, said check shall be (deducted
from the purchase price) or (m). Strike out inapplicable phrases.
By
Morgan Guaranty Trust Company of New York
Account Manager
Salomon Brothers
By: Morgan Guaranty Trust Company of N.Y.
Donaldson, Lufkin & Jenrette Securities Co
Bear, Stearns & Co.
Ehrlich—Bober Company
By
James J. C
Accepted by the City Council on this day of
ATTEST:
Authoriz epresentative
oran — A istant Vice President
1978
Mayor, City of Corpus Christi, Texas
City Secretary
Please supply the following information which is not a part of this bid:
Total Interest Cost $ 3,196.625.00
Less Cash Premium $ — 1.266.00
Net Interest Cost $ 3.395.359.00
Effective Rate of Interest 5.5163
Receipt is acknowledged on behalf of bidder of above described Good Faith Check this clay
of 1978.
By
OFFICIAL BID FORM
PROPOSAL FOR
$5,000,000 CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS
SERIES 1978-A
The City of Corpus Christi November 8, 1978
Corpus Christi, Texas
Gentlemen:
Subject to the terms of the Official Statement and Official Notice of Sale we offer to pay par plus
accrued interest to date of delivery and a cash premium of $ 0 for $5 000 000 City
of Corpus Christi, Texas, General Improvement Bonds, Series 1978-A bearing interest at the following
rates:
For Bonds Maturing Coupon mate
1979 through 198 V L.74 %
through /9 ii 5- 6. 3,r %
/9$G through /990 5.3S %
/9 9 / through i9 9 3 S..,110 %
/ 9.911 through / 0,98 S. �D %
We agree to accept delivery and make payment for the bonds without cost to us at City National
__Bank, Austin, Texas; or at the
, and in accordance with the Official Notice of Sale
agree to pay all expenses.
Cashier's Check No. issued by City Nstional Rank, Austin Tx.
payable unconditionally to the City of Corpus Christi, in the amount of $100,000 (is atm-..aae,�a ti___._)
(has been made available to you prior to the opening of this bid) as a Good Faith Deposit for disposition
in accordance with the Official Notice of Sale. Upon delivery of the bonds, said check shall be (deducted
from the purchase price) or (returned to us). Strike out inapplicable phrases.
By First City National Bank of Ho'ston Rotan Mng1P• Tnr Houston
Account Manager
Blyth Eastman Dillon & Co.Inc. Houston
Bpiiliam r. Mr• VjC President
Authorized Representative
Accepted by the City Council on thiq day of , 1978
Mayor, City of Corpus Christi, Texas
ATTEST:
City Secretary
Please supply the following information which is not a part of this bid:
Total Interest Cost $ / D04, 73 7a Z
Less Cash Premium
Net Interest Cost $ 4 1 O y )' 37 0 6-61
Effective Rate of Interest 0o 5.3i 3 d %
Receipt is acknowledged on behalf of bidder of above described Good Faith Check this day
of 1978.
By