HomeMy WebLinkAbout15474 ORD - 04/16/1980AN ORDINANCE
AMENDING THE 1979-80 BUDGET FOR JUNIOR LIEN WATER REVENUE
DEBT SERVICE FUND BY CANCELLING ESTIMATED INCOME ON THE
FIRST MORTGAGE REDEMPTION ESCROW FUND ($228,000) AND
INTEREST ON THE CHOKE CANYON CONSTRUCTION FUND ($161,960),
AND INCREASING ESTIMATED PAYMENTS BY THE WATER SYSTEM
BY $389,960 AND THAT THE BUDGET FOR THE WATER FUND BE
AMENDED BY REDUCING APPROPIRATIONS FOR FIRST MORTGAGE
REVENUE BOND DEBT SERVICE BY $389,960 AND INCREASING
APPROPRIATIONS FOR JUNIOR LIEN DEBT SERVICE BY $389,960;
AND PROVIDING THAT INTEREST EARNING ON FIRST MORTGAGE
REDEMPTION ESCROW FUND AND CHOKE CANYON CONSTRUCTION FUND
BE DEPOSITED IN THE CHOKE CANYON CONSTRUCTION FUND; AND
DECLARING AN EMERGENCY.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS:
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SECTION 1. That the 1979-80 budget for Junior Lien Water Revenue
Debt Service Fund be, and the same is hereby, amended by cancelling estimated
income on the First Mortgage Redemption Escrow Fund ($228,000) and interest
on the Choke Canyon Construction Fund ($161,960), and increasing estimated
payments by the Water System by $389,960; and that the budget for the Water
Fund be amended by reducing appropriations for First Mortgage Revenue Bond
Debt Service by $389,960 and increasing appropriations for Junior Lien Debt
Service by $389,960; and providing that interest earning on First Mortgage
Redemption Escrow Fund and Choke Canyon Construction Fund be deposited in
the Choke Canyon Construction Fund.
SECTION 2. The necessity to amend the 1979-80 budget as hereinabove
set out at the earliest practicable date creates a public emergency and an
imperative public necessity requiring the suspension of the Charter rule that
no ordinance or resolution shall be passed finally on the date of its intro-
duction but that such ordinance or resolution shall be read at three several
meetings of the City Council, and the Mayor having declared that such emergency
and necessity exist, having requested thesuspensionof the Charter rule and
that this ordinance be passed finally on the date of its introduction and take
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effect and be in full force and effect from and after its passage, IT IS
ACCORDINGLY SO ORDAINED, this the J(Q day of April, 1980.
ATTEST:
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APPROVED:
/69 DAY OF APRIL, 1980:
J. BRUCE AYCOCK, CITY ATTORNEY
Atti
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TH ' TY OF CORPUS CHRISTI, TEXAS
•
Corpus Christi, Texas
11e day of a'p""K, 19 a2)
TO THE MEMBERS OF THE CITY COUNCIL
Corpus Christi, Texas
For the reasons set forth in the emergency clause of the foregoing ordinance, a
public emergency and imperative necessity exist for the suspension of the Charter
rule or requirement 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 meetings of the City Council; I, therefore, request that you suspend
said Charter rule or requirement and pass this ordinance finally,on the date it
is introduced, or at the present meeting of the City Council.
Respectfully,
MAY
z 111
SOF CORPUS CHRISTI, TEXAS
The Charter rule was suspended b the following vote:
Luther Jones
Edward L. Sample
Dr. Jack Best
David Diaz
Jack K. Dumphy
Betty N. Turner
Cliff Zarsky
The above ordinance was passed
Luther Jones
Edward L. Sample
Dr. Jack Best
David Diaz
Jack K. Dumphy
Betty N. Turner
Cliff Zarsky
by the
following vote:
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