HomeMy WebLinkAbout05546 ORD - 11/02/1959I l
APPROPRIATION CERTIFICATE
THE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI
4e, the undersigned, Mayor and City Secretary of the
City of Corpus Christi, Texas, do hereby certify that in accordance with
the terms of an ordinance passed by the City Council of said City on the
z -!--4 day of November, 1959, authorizing the issuance of $2,100,000.00
City of Corpus Christi, Texas, General Improvement Bonds, Series 1958, the
sum of $'a44, o d 9.i S has been appropriated out of available funds
for the purpose of paying the interest maturing on May 1, 1960.
We do further certify that said sum has been placed
in the interest and sinking fund created for this issue of bonds and will
be used for no other purpose than to pay the interest maturing on May 1,
1960.
WITNESS OURHANDS and seal of said City, this the
day of November, 1959•
,
Mayor, rpus C s i, Texas.
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SA City Secret. , C/J y of orpus Chr ti,
Te as.
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THE STATE OF TEXAS
COUNTS OF I9UECES
CITY OF CORIMS CHRISTI
I, the undersigned, City Secretary, in and for the City
of Corpus Christi, Texas, do hereby certify:
1. That the City of Corpus Christi, Texas, is now
Operating under its Rome Rule Charter granted by Acts of the 31st Legis-
lature of the State of Texas, at its Regular Session, being Chapter 33 of
the Acts of said Legislature, as amended at elections held on April, 30,
1926, November 18, 1939, October 6, 1945, April 6, 1949 and May 21, 1955.
That said Charter has not been amended since May 21, 1955• The City of
Corpus Christi has a population accwading tothe 1950 official census of
108,287. That the form of government of the City of Corpus Christi has not
been changed since the dates above given.
2. That prior to �L sk,c� G 7 f' , 1959, the following
persons were the duly elected and qualified officials of said City:
Farrell D. Smith, Mayor,
W. J. Roberts,
B. E. Bigler, ,
Manuel P. Maldonado,
Charlie J. Ail1a, Commissioners,
Ode" Ingle, ,
T. Ray Kring, City Secretary,
Alton T. White, Jr., Tax Assessor - Collector.
3• That the following officials were duly elected and
qualified as successors to the officials above named on the _7:a_ day of
++-e� 1959:
Ellroy King, Mayor,
Dr. James L. Barnard,
Mrs, Ray Airheart,
Joseph B. Dunn, ,
Commissioners,
i
Patrick J. Dunne,
R. A. Humble,
Gabe L. Lozano, Sr.
T. Ray Kring, City Secretary,
Mrs. Doris Francis Acting City Secrets
QLt`~ T. �Y ..� City-Secretary
- - O,/ Tax Assessor - Collector.
4. That no litigation of any nature has been filed or is
now pending to restrain or enjoin the issuance or delivery of said Bonds or
the coupons appertaining thereto, or which would affect the provision made for
their payment or security, or in any manner questioning the validity of said
Bonds or coupons or the proceedings or authority pertaining to the issuance
of said Bonds and coupons, and that so far as I know and believe, no such
litigation is threatened.
5• That neither the corporate existence nor boundaries
nor the title of present officers to their respective offices is being con-
tested, and that no authority or proceedings for the issuance of said Bonds
and coupons have been repealed, revoked or rescinded.
.EXECUTED UNDER MY HAND and seal of said City, this the
3 day of November, 1959. /
City Secrethr City of Corp hristi,
'Texas.
(SEAL)
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THE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI
I, the undersigned, City Secretary of the City of
Corpus Christi, Texas, do hereby certify that 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 of the minutes pertaining there-
to) on the �� day of November, 1959, authorizing the issuance of
$2,100,000.00 City of Corpus Christi, Texas, General Improvement Bonds,
Series 1959, Which ordinance is duly of record in the minutes of said City
Council.
EXECUTED UNDER MY HAND and seal of said City this the
day of November, 1959.
till�-e
City ecretary, Sty o Corpus C isti,
Tex s.
(SEAL)
THE STATE OF TMS
COUNTY OF NQECES
CITY OF CM2POS CHRISTI
On this the a day of November, 1959, the City Council
of the City of Corpus Christi, Texas, convened in meeting,
with the following members of said Council present, to wit:
Ellroy Ring, Mayor,
Dr. James L. Barnard,
Mrs. Ray Airheart,
Joseph B. Dunn,
Com�is�ibners,
Patrick J. Dunne,
R. A. Humble,
Gabe L. Lozano, Sr., :
Mrs. Doris Francis, Acting City secretary,
with the following absent: T. Ray Bring, 7U¢,.L-
constituting a quorum, at which time the following among other business was
transacted:
Mr. �if Gtr presented for the consideration of
the Council an ordinance. The ordinance was read by the Acting City Secretar,
The Mayor, presented to the Council a communication in writing pertaining to
said proposed ordinance, as follows:
"Corpus Christi, Texas,
November 2 �, 1959.
TO THE CITY COUNCIL
CORPUS CHRISTI, TMM
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 25, 1953, September 25, 1954, October 6, 1956 and
January 17, 1959, create an emergency and an imperative public necessity re-
quiring the suspension of rules and Charter provisions requiring ordinances
to be considered end voted upon at three regular meetings. I, therefore re-
quest that the City Council pass the proposed ordinance authorizing the issu-
ance of $2,100,000.00 General Improvement Bonds as an emergency. You will
please consider this request in connection with the ordinanceahiich has been
introduced in the City Council on this subject.
Yours very truly,
/s/ Ellroy King,
Mayor."
i
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 ,�P� The motion was carried by
a unanimous vote by the City Council, viz:
AYES: Commissioners Barnard, Airheart, Dunn, Dunne,
Humble end Lozano.
NOES: None.
The Mayor requested that the records show that he voted
Aye. This was done.
Commissioner a(1,w� made a motion that the
ordinance be passed finally. The motion was seconded by Commissioner
GSIc . The motion was carried by the following vote:
AYES: Commissioners Bernard, Airbeart, Dunn, Dunne,
Humble and Lozano.
NOES: None.
The Mayor requested that the records show that he voted
Aye. This was done.
The Mayor announced that the ordinance had been passed.
The ordinance is as follows:
ORDINANCE NO. 40 -446
BY THE CITY COUNCIL OF THE CITY OF CORPUS
CHRISTI, TEXAS, PROVIDING FOR THE ISSUANCE
OF $2,100,000.00 CITY OF CQUW CHRISTI,
TEXAS, GENERAL II11PROVEMOT BONDS, SERIES
1959, BEARING I31I`E11EST AT THE RATES HEREIN-
AFTER 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 SINMG FUND FOR THE RIDEMION
THEREOF AT MATURITY; BHJWA .M ALL ORDINANCES
IN CONFLICT HEREW32H AID DECLARING AN EMERGENCY.
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 $720,000.00 Fire Station Bonds;
and
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WHERMS, on the 25th day of 3 r, 1954, an election
was held in the City of Corpus Christi, Texas, resulting favorably to the
issuance of $3,500,000.00 Sanitary Sewer Bonds; $360,000.00 Street Improvement
Bonds and $140,000.00 Fire Station Bonds; and
WHEREAS, on the 6th day of October, 1956, an election was
held in the City of Corpus Christi, Texas, resulting favorably to the issuance
of $675,000.00 South Staples Street Area Street and Storm Sewer Bonds; and
WHEREAS, heretofore on the 23rd day of December, 1958,
the City Council of the City of Corpus Christi, Texss,�passed an ordinance
calling an election to be held in said City on the 17th day of January, 1959,
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 $300,000.00, 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 in-
terest at a rate not to exceed Four and one -half (4-2�%) 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
constructim permanent improvements to the Memorial Coliseum
of the City by the installation of air conditioning facilities
therein, 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
17th day of January, 1959, 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 MEMORIAL COLIBEUM AIR
CONDITIONING BONDS" 3,077 Votes;
"AGAINST TIE; ISSUANCE OF M WORIAL COLISEUM
AIR CONDITIONING BONES" 2,066 votes,
as is reflected in the election returns heretofore filed with the City
Secretary, and
WHEREAS, on March 17, 1954, the City Council of the City
of Corpus Christi, Texan, passed an ordinance directing the issuance of
$1,015,000.00 Storm Sewer Bonds and $2450000.00 Fire Station Bonds authoriz-
ed at the election held November 24, 1953; and
WHMWAS, 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 Sever Bonds and,$170,000.00 Fire Station Bonds authoriz-
ed at the election held November 24, 1953; and
WHEREAS,`on December 15, 1955, the City Council of the
City of Corpus Christi, Texas, passed an ordinance directing the issuance of
$1,140,000.00 Storm Sever Bonds and $180,000.00 Fire Station Bonds authorized
at the election held November 24, 1953, and $200,000.00 Sanitary Sever Bonds
authorized at the election held September 25, 1954; and
wMMM, on January 16, 1957, the City Council of the
City of Corpus Christi, Texas, passed an ordinance directing the issuance of
$820,000.00 Storm Sever Bonds authorizdd at the election held November 24,
1953; and
WHEREAS, on November 13, 1957, the City Council of the Ci
of Corpus Christi, Texas, passed an ordinance directing the issuance of
$515,000.00 Street Improvement Bonds authorized at the election held November
24, 1953s and $1,300,000.00 Sanitary Sewer Bonds and $100,000.00 Street Im-
provement Bonds authorized at the election held September 25, 1954; and
WHEREAS, on June 25, 1958, the City Council of the City
of Corpus Christi, Texas, passed an ordinance directing the issuance of
$525,000•00 Storm Sever Bands authorized at the election held November 24,
1953; and
WHEREAS, on November 12, 1958, the City Council of the
City of Corpus Christi, Texas, passed an ordinance directing the issuance of
$149,000.00 Storm Sewer Bonds and $}0,000.00 Fire Station Bonds authorized
at the election held November 24, 1953, and $600,000.00 Sanitary Sever Bonds
authorized at the election held September 25, 1954; and
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WHEREAS, it is deemed advisable and to the best interest
of the City that $24,000.00 Storm Sewer Bonds and $56,000.00 Fire Station
Bonds authorized at the election held November 24, 1953; $1,100,000.00
Sanitary Sewer Bonds, $190,000.00 Street Improvement Bonds and $15,000.00
Fire Station Bonds authorized at the election held September 25, 1954;
$415,000.00 South Staples Street Area Street and Storm Sewer Bonds authorized
at the election held October 6, 1956, and $300,000.00 Memorial Coliseum Air
Conditioning Bonds authorized at the election held January 17, 1959, aggre-
gating $2,100,000.00, be issued and sold at this time;
BE IT ORDAIM BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI, TESAS:
1. That the bonds of said City to be called "City of
Corpus Christi, Texas, General Improvement Bonds, Series 1959 ", 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 improving the streets of said
City, the construction of storm sewers; constructing and equipping fire
stations; improving and extending the Sewer System; providing funds for
street and storm sewer improvements in the South Staples Street area extending
southward from Go]lihar, and constructing permanent improvements to the
Memorial Coliseum of the City by the installation of air conditioning facili-
ties therein, in the principal amount of Two Million FOne Hundred Thousand
($2,100,000.00) Dollars.
2. That said bonds shall be numbered from One (1) to
Two Thousand One Hundred (2,100), both inclusive, of the denomination of
One Thousand ($1,000.00) Dollars each, aggregating Two Million One Hundred
Thousand ($2,100,000.00) Dollars.
3. That said bonds shall be dated November 1, 1959, and
shall become due and payable serially as follows:
BOWS NUMBERS MATURITY DAT03 AMOUNTS
1 to 20, both incl., November 1, 1960, $ 20,000.00
21 to 40, " it November 1, 1961, 20,000.00
41 to 60, " " November 1, 1962, 20,000.00
61 to 75, " " November 1, 1963, 15,000.00
76 to 95, " " November 1, 1964, 20,000.00
F__
BONDS NOMBERS MATUR31Y DATFS ANOUNTS
96 to 115, both incl., November 11 1965, 202000.00
116 to 135, " " November 1, 1966, 20,000.00
136 to 160, " " November 1, 1967, 25,000.00
j 161 to 185, " " November 11 1968, 25,000.00
tt 186 to 215, " " November 1, 1969, 30,000.00
I 216 to 245, " " November 1, 1970, 30,000.00
246 to 280, " " November 1, 1971, 35,000.00
281 to 320, " November 1, 1972, 40,000.00
321 to 470, " " November 1, 1973, 150,000.00
471 to 590, " " November 1, 1974, 120,000.00
591 to 915, November 1, 1975, 325,000.00
916 to 965, " " November 1, 1976, 50,000.00
966 to 1515, " November 1, 1977, 550,000.00
1516 to 1790, " " November 1, 1978, 275,000.00
1791 to 2100, " " November 11 1979, 310,000.00
4. That said bonds shall bear interest at the rates as
follows:
Bonds Nos. 1 to 2 L, both incl., _,JL% per annum;
Bonds Nos. 214 to �nr, " " % per annum;
Bonds Nos. �gI to �laof�, " % per annum;
Bonds Nos. to , " " _ % per annum;
Bonds Nos. to - , " " _f per annum,
payable May 1, 1960, and semi- annually thereafter on November let and May 1st
of each year.
5. In Bonds Numbers Two Hundred Sixteen (216) to Two
Thousand One Hundred (2,100), 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 November 1, 1969, at par and accrued interest to
date so fixed for redemption, plus a premium of 2-21%, such premium to be re-
duced on November 1, 1970 to 2%, with a further reduction of 1/2 of 1% on
November lot of each year through November 1, 1973. There shall be no premium
of such bonds which may be redeemed November 1, 1974, or on any interest pay -
ment date thereafter. Thirty days' notice of such call shall be given in
writing to the places of payment and notice shall be 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 re-
demption 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 thereafter bear interest. If fewer than all of the
optional bonds are called for redemption, they shall be called in their in-
verse numerical order.
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6. That the principal of and interest on said bonds
shall be payable upon presentation and surrender of bond or proper coupons
at the Corpus Christi State Rational Bank, Corpus Christi, Texas, or, at the
option of the holder, at Harris Trust and Savings Bank, Chicago, Illinois,
without exchange or collection charges to the owner or holder thereof.
7. 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.
follows:
NO.
8. The form of said bonds shall be substantially as
$1,000.00
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTr OF NUECES
CITY OF CMMS CHRISTI
GENERAL IMOVEMENT BOND
SERIES 1959
The City of Corpus Christi, in the County of Nueces,
State of Texas, a municipal corporation duly incorporated under the laws
of the State of Texas, for value received, hereby promises to pay to the
bearer hereof, on the lot day of November, 19 , the sum of
ONE THOUSAND DOLLARS
in lawful money of the United States of America, with interest thereon from
date hereof at the rate of (,) per cent per annum,
evidenced by coupons payable May 1, 1960, and semi - annually thereafter,on
November let and May 1st of each year, both principal and interest payable
upon presentation and surrender of bond or proper coupon'at the Corpus'Christi
State National Bank, Corpus Christi, Texas, or, at the option of the holder,
at Harris Trust and Savings Bank, Chicago, Illinois, without exchange or
collection charges to the owner or holder hereof, and the City of Corpus Christ
Texas, is hereby held and firmly bound and its faith and credit and all taxable
property in said City are hereby pledged for the prompt payment of the
of this bond at maturity and the interest thereon as it accrues.
9. The form of coupon shall be substantially as follows:
NO. _ 0
ON TAE 1ST DAY OF
19
The City of Corpus Christi, Texas, will pay to bearer,
*(unless the bond to which this coupon is attached shall have been called
for previous redemption as therein provided and provision for the redemption
thereof made), at the Corpus Christi State National Bank, Corpus Christi,
Texas, or, at the option of the holder, at Harris Trust and Savings Bank,
Chicago, Illinois, without exchange or collection charges to the owner or
holder hereof, the sum of ($ )
Dollars, in lawful money of the United States of America, being months'
Interest due that day on "City of Corpus Christi, Texas, General Improvement
Bond, Be r s 19 9 ", date' November 1, 1959, No
I Sec tart' r.
*(This parenthetical expression should be printed only is coupons maturing
May 1, 1970, and subsequent).
10. Substantially the following certificate shall be
printed on the back of each bond:
OFFICE OF COMPTROLLER
STATE OF TEXAS
I BER W 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 AANO and seal of office at Austin, Texas,
Comptroller of Public Accounts of the
State of Texaa.
This bond is one of a series of Two Thousand One Hundred
(2,100) bonds of like tenor and effect, except as to number, interest rate,
maturity and right of prior redemption, numbered from One (1) to Two Thousand
One Hundred (2,100), both inclusive, of the denomination of One Thousand
($1,000.00) Dollars each, aggregating Two Million One Hundred Thousand
($2,100,000.00) Dollars, issued for the purpose of improving the streets of
said City; the construction of storm sewers; constructing and equipping fire
stations; improving and extending the Sewer System; providing funds for
street and storm sewer improvements in the South Staples Street area extend-
ing southward from Gollihar, and constructing permanent improvements to the
Memorial Coliseum of the City by the installation of air conditioning facili-
ties therein, 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 November 1, 1959.
*(Bonds numbered Wo Hundred Sixteen (216) to Two Thousand
One Hundred (2,100), both inclusive, of the issue of which this is one, may
be redeemed prior to maturity at the option of the City on the 1st day of
November, 1969, and on any interest payment date thereafter, at a price of
par and accrued interest to date so fixed for redemption, plus a premium of
2-�'%, such premium to be reduced on November 1, 1970 to 2%, with a further
reduction of 1/2 of 1% on November Ist of each year through November 1, 1973.
There shall be no premium on such bonds which may be redeemed November 1,
1974, or on any interest payment date thereafter. Thirty days' notice of
such call is to be given in writing to the places of payment and said notice
is to 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 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. If fewer than all of the optional bonds
are called for redemption, they shall be celled in their inverse numerical
order.)
AHD IT IS kY CERTIFIED AHD 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 elections held for that purpose within said
City on November 24, 1953, September 25, 1954, October 6, 1956, and January 17,
1959; 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 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.
IN WnWW 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 rpus Ck° ati, Texas.
CCUHTERSIGNE�y.
City Secretary, City o• °,"*_ C ,
Texas.
*(This paragraph should be omitted from Bonds Hoe. 1 to 215, both incl.)
U. That a special fund shall be created and is hereby
created to be designated "City of Corpus Christi, Texas, General Improvement
Bonds, Series 1959 Fund ". The proceeds from all taxes collected for and on
account of this series of bonds shall be credited to said fund for the purpose
of paying the interest as it accrues and to provide a sinking fund for the
purpose of paying each installment of principal as it becomes due, and said
fund 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 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 make, raise and produce in each of said years a
fund to pay the interest on said bonds and to provide a sinking fund suffi-
cient to pay the principal as it matures, or at least 2% of the outstanding
principal as a sinking fund, whichever is greater, full allowances being
made for delinquencies and costs of collection. A tax at the rate as herein -
above 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 said bonds, or interest thereon, are outstanding
and unpaid, and the said tax each year shall be assessed and collected and
placed in the Fund hereby created and the Treasurer shall honor warrants
against said Fund for the purpose of paying the interest maturing and princi-
pal of said bonds and for no other purpose.
12. That to pay the interest scheduled to mature on
May 1, 1960, there is hereby appropriated the sum of $ A404e. 7 from
funds of the City available for such purpose. The money thus appropriated
shall be used for no other purpose than to pay said interest. The Mayor and
City Secretary are hereby directed to do any and all things necessary or
convenient to accomplish the purpose of said appropriation.
13. 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 euthorited 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) Shan 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
bogs.
14. The sale of the bonds herein authorized to
/2 -1
Yt a price of par and accrued interest to date of delivery, plus a premium
of $_4 f 88 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.
15. That all ordinances and resolutions or parts thereof
in conflict herewith are hereby repealed.
16. The fact that the contemplated use of the proceeds
of the bonds is 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 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 fx71 force and
effect from and after its passage, it is accordingly so ordained.
PASSED AMID APPROVEOpthis the ,' day of November, 1959•
Mayor, City of rpF1s Chr. t , Texas.
ATTEST:
Av6jmg City SectetW, City of Corpus isti,
as.
The foregoing ordinance has been approved as to form and
correctness this day of November, 1959-
City Attorney, City of Cyfpus Christi,
Texas.
(SEAT,)
i
r �
BIDDER
Drexel & Co.
Porter, Noyes, Inc.
Wertheim & Co.
Eallgarten & Co.
J. A. Hogle & Co.
Stern, Lauer & Co.
Barrett Fitch, North & Co.
White, Masterson & Co.
B. V. Cristie & Co.
L. F. Rothschild & Co.
Interest Coupons:
11 -i -60 thru 11- 1- 69•.•••• 5%
11 -170 thru 111- �......i'r
11 -1 -f thru 1.1- 1- 79•.••.• 3.9N
Total Interest Cost $1.335,875.00
Less Cash Premium $ _315.00
Net Interest Cost $1,335,560-00 `�'
Effective Rate of
Interest 3.950192%
CITY OF CORPUS CHRISTI, TEXAS
BID TABULATION - $2,100,000 GENERAL iMPROVEMM BONDS
SERIES 1959
OPENED 2 :00 P. M., NOVEMSER 2, 1959
BIDDER
Rowles, Winston & Co.
Eddleman, Pollok & Fosdick, Inc.
McClung,& Knickerbocker
Underwood, Neuhaus & Co.
Columbian Securities Corporation
of Texas
Russ & Company
First of Texas Corporation
Mullaney, Wells & Company
McCormick & Co.
Stubbs, Watkins &
IAmbardo Inc.
Interest Coupons:
11 -1 -60 thru 11- 1- 2 ...
... 5�
11 -1-. 71 ................... 1
11-1.%T2 thru 11- 1- Z9...... %
Total Interest Cost $1,370,450.00
Less Cash PremlAum $ 77.77
Net Interest Cast $1,370372.23
Effective Rate of
Interest 4.053126�
BIDDER
entile Trust Company
First National Bank, Dallas
Dever Robinson & Parcoast
Dittman & Co.
Ranson & ComDanv. Inc.
Interest Coupons:
ll -1 -60 thru 111- 69..,...
11-1-.LO thru 11- 1 -1.... ' ;- T�
1
11 -72 thru 11- 1- 39....
Total Interest Cost $1,331,868,75
Less Cash Premium $ 510.9
Net Interest Coot
Effective Rate of
Interest 3.9377
BIDDER
Phe— Penn & Co.
Creston H. Funk, Hobbs & Co.
and Associates
Interest Coupons:
11 -160 thru 11-169...... 4 1/2%
11-1-10- thru 11- 1:72 3 . -.... =3%
11 -1 -Z thru 11- 1- �......
11 -1 -�7 thru 11-1-79- - .i0%
Total Interest Cost 1d37 6875.00
�
Less Cash Premium one
Net Interest Cost $1,3 f 75.00
Effective Rate of
Interest 4.27239%
DISTRIBUTION - All Bidders Above PAGE 2-- Concluded
1
BIDDER
Johnston, Lemon & Co.
Fahnestock & Co.
National Boulevard Bank of Chicago
F. S. Yantis & Co.
v Blewer, Glynn & Co.
A. E. Masten & Co.
Milburn, Cochran & Co., Inc.
John Small & Co., Inc.
Hamilton Securities Company
Allison- Williams Company
Interest Coupons:
11 -1 -6o thru 11- 1- 69...... 5%
11 -1 -70 thru 11- 1-7T_+.... -4�
11 -1 775 thru ll- 1- 79•• -• .3 7
Total Interest Cost $1 330831.2.5,
Less Cash Premium $ 45b.88
Net Interest Cost %1,330,372.37
Effective Rate of
Interest 3.934848
LOW BIDDER
CITY OF CORPUS CHRISTI, TEXAS
BID TABULATION - $2,100,000 GENERAL IMpROVEMMT BONDS
SERA 1959
OPENED 2:00 P. M., NOVEMBER 2, 1959
BIDDER
Merrill Lynch, Pierce, Fenner and
Smith, Incorporated
First Southwest Company, Dallas
Equitable Securities Corporation
F. S. Smithers and Company
J. C. Bradford and Company
Roosevelt and Gross, Inc.
Dallas Union Securities Company
Fridley and Frederking
Thomas and Company
Moreland, Brandenberger, Johnston
and Currie
R. A. Underwood and Company.Inc.
Interest Coupons:
1i -1 -6o thru 11- 1- 69•.•.•• 5�
11 -1 -70 thru 11- 1- 77....
11 -1 -75 thru 11- 1- 79•••. -3 7
Total Interest Cost $1,330,831.25
Less Cash Premium $ 77.11
Net Interest Cost $1,330,754.14
Effective Rate of
Interest 3.935977
BIDDER
Republic National Bank of Dallas
White, Weld & Co.
Mercantile National Bank of Dallas
Goodbody & Co.
Rotan, Mosle & Co.
Rand & Co.
Dallas Rupe & Son
Stern Brothers & Co.
Texas Bank & Trust Co.
King, Nelson & Co.
Municipal Securities
Company
Interest Coupons:
11 -1 -6o thru 11- 1- 69
...... 4 3 4
11 -1 -70 thru 11- 1- 77......
1
11-1 -75 thru 11- 1- 76......
3.90
11 -1 -77 thru L1- 149
...... =T i
'1b
Total Interest Cost
$_l,33668�7�_50
Less Cash Premium
Net Interest Cost
Effective Rate of
�
Interest
4.048195%
BIDDER
Rauscher, Pierce & Co., Inc.
John Nuveen & Co.
Commerce Trust Company
Barcus Kindred & Co.
Andrews & Wells, Inc.
Bache & Co.
Wm. J. Mericka & Co., Inc.
Moroney, Beissner & Co.
Nongard Showers & Murray, Inc.
Burns, Lrbett & Pickard, Inc.
Zahner and Company
Interest Coupons:
11 -1 -6o thru ll -1- 69 .... ..4 1/2
11 -1 -70 thru 11- 1 -2....
11 -1-75 thru 11- 1- 72..... =8
Total Interest Cost $1,330,968.75
Less Cash Premium $ 201.75
Net Interest Cost $1,330;77.00
Effective Rate of
Interest 3.936
DISTRIBUTION - All Bidders Above PAGE 1 - Continued