HomeMy WebLinkAbout15885 ORD - 11/19/1980THE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI .
On this the 19th day of November, 1980, the City
.Council of the City of Corpus Christi, Texas convened in
Regular Meeting, with the following members of said Council
present, to -wit:
Luther Jones, Mayor,
Edward L. Sample, Mayor Pro -Tem,
Dr. Jack Best,
David Diaz,
Jack K. Dumphy, Commissioners,
Betty N. Turner,
Cliff Zarsky,
R. Marvin Townsend, City Manager,
J. Bruce Aycock, City Attorney,
Harold F. Zick, Director of Finance,
Bill G. Read, City Secretary,
with the following absent: /Ifilr,C /
constituting a quorum, at which time the following among
other business was transacted:
(flGr�, N•tpresented for the consideration of the
0 '
Council a resolution. The resolution was read by the City
Secretary. The Mayor presented to the Council a communication
in writing pertaining to said proposed resolution, as follows:
"Copus Christi, Texas
.an,der._ /9 , 1980
"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 bonds contemplated to be sold pursuant to an
offering made by an Official Statement to be authorized,
ratified and approved by a resolution create an emergency
and an imperative public necessity requiring the suspension
of rules and Charter provisions requiring resolutions to be
considered and voted upon at three regular meetings. I,
therefore, request that the City Council adopt the proposed
resolution authorizing, ratifying and approving the use of
said Official Statement as an emergency measure. You will
15885
MICROFILMED
NE"P 27 1984
1
please consider this request in connection with the resol-
ution which is to be introduced for adoption by the City
Council on the subject.
"Yours very truly,
/s/ Luther Jones
j > (� Mayor"
Councilman aC nC}cam, moved that the Charter
D
provision prohibiting resolutions from being adopted finally
on the date introduced be suspended for the reasons stated
in the written request of the Mayor and stated in the emer-
gency clause 'oJf� the�resolution. The motion was seconded by
Councilman (21a L---50.4aLr. The motion was carried by an
,/./ (/ 11
unanimous vote by the City Council, viz.:
AYES: All present voted Aye.
NAYS: None.
The Mayor requested that the records show that he voted
Aye. This was done.
Councilman
.t.1,4., _ C� tX.t 1 moved that the resolution
S
be adopted finally. The motion was seconded by Councilman
�� e� eCJI tom- i . The motion was carried by the following
vote:
U
AYES: All present voted Aye.
NAYS: None.
The Mayor requested that the records show that he voted
Aye. This was done.
The Mayor announced that the resolution had been adopted.
The resolution is as follows:
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 a resolution
adopted by the City Council of the City of Corpus Christi,
Texas (and of the minutes pertaining thereto) on the 19th
day of November, 1980, approving the form of the Official
Statement pertaining to City of Corpus Christi, Texas General
Improvement Bonds, Series 1980, and authorizing, ratifying
and approving the Official Statement and the use thereof,
which resolution is duly of record in the minutes of said
City Council, and said meeting was open to the public, and
public notice of the time, place and purpose of said meeting
was given, all as required by Vernon's Ann. Civ. Stat., art.
6252-17, as amended.
EXECUTED UNDER MY HAND AND SEAL of said City, this the
/9 day of
(SEAL)
0tcam �i[n , 1980.
City -Secretary, City of
Corpus Christi, Texas
Corpus Christi, Texas
1f day of LiA , 19 S91)
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,
MA
4
THE C i Y OF CORPUS CHRISTI, TEXAS
The Charter rule was suspended by the following vote:
Luther Jones
Edward L. Sample //yy
Dr. Jack Best
David Diaz
Jack K. Dumphy (//j�,o /
Betty N. Turner a,{aa/
Cliff Zarsky
vi
The above ordinance was passed by the following vote:
Luther Jones
Edward L. Sample
Dr. Jack Best
David Diaz /1(
Jack K. DumphyA,
Betty N. Turner (1424,,/ �
Cliff Zarsky (1,
1 A/A�
v
15885
CERTIFICATE CONCERNING. OFFICIAL STATEMENT
THE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI
on behalf of the City of Corpus Christi, Texas (the •
"City") we the duly appointed and acting City Manager and
Director of Finance of the City do hereby certify that the
Official Statement prepared for use in connection with the
offering and sale of City of Corpus Christi, Texas General
Improvement Bonds, Series 1980, has been authorized and
approved by the City Council of the City, and to the best of
our knowledge and belief and after reasonable investigation:
(a) Neither the "Official Statement" nor any amendment
or supplement thereto contains any untrue statement of a
material fact necessary to make the statements therein in
light of the circumstances in which they were made, not mis-
leading;
(b) Since the date of the "Official Statement" no
event has occurred which should have been set forth in an
amendment or supplement to the "Official Statement" which
has not been set forth in such amendment or supplement; and
(c) There has been no material adverse change in the
operation or financial affairs of the City since the date
of such "Official Statement".
DATED the = day of November, 1980.
(SEAL)
ATTEST:
City'Secretary, City of
Corpus Christi, Texas
City Manager, City of
Corpus Christi, Texas
Director of Financ City of
Corpus Christi, Te as
STATEMENT OF INDEBTEDNESS
THE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI
I, the undersigned, Director of Finance of the City of
Corpus Christi, Texas, do hereby certify that attached
hereto is a true, full and correct statement of indebtedness
of said City of every character on the 19th day of November,
1980 as shown by the books and records of said City in my
office.
WITNESS MY HAND AND SEAL of said City this the day
of November, 1980.
(SEAL)
Di±ector of Finance
City of Corpus Chris , Texas
SCHEDULE OF OUTSTANDING BONDED DEBT
ACCORDING TO SCHEDULED MATURITIES ,
• OCTOBER 31, 1980
Storm Sewer Bonds, Series 1954, 3%
1980-81 $ 90,000
1981-82 90,000
1982-83 80,000
1983-84 - 80,000
$ 340,000
Street Right -of -Way Bonds, Series
1954, 3 - 2 3/4%
1980-81 $ 15,000
1981-82 15,000
1982-83 25,000
1983-84 25,000
Storm Sewer Bonds, Series 1957,
4 - 3 3/4%
1980-81
1981-82
$ 80,000
$ 35,000
35,000
$ 70,000
Airport Bonds, Series 1958, 3 1/4%
1980-81 $ 40,000
1981-82 40,000
1982-83 40,000
$ 120,000
Storm Sewer Bonds, Series 1958, 3 1/4%
1980-81 $ 30,000
1981-82 35,000
1982-83 35,000
$ 100,000
General Improvement Bonds, Series 1961,
3 1/2 - 3 6/10 - 3 7/10 - 3 3/4%
1980-81 $ 200,000
General Improvement Bonds, Series 1962,
2 7/8 - 3 - 3 1/10%
1980-81
1981-82
$ 300,000
300,000
$ 600,000
General Improvement Bonds, Series 1964,
3 1/10 - 3 1/4 - 3 3/10%
1981-82 $ 255,000
1982-83 255,000
1983-84 255,000
1984-85 255,000
$ 1,020,000
Park Improvement Bonds, Series 1964,
3 1/10,- 3 1/4 - 3 3/10%
1981-82 $ 20,000
1982-83 20,000
1983-84 20,000
1984-85 20,000
$ 80,000
General Improvement Bonds, Series 1965,
3 1/4 - 3 4/10 - 3 1/2%
1980-81 $ 90,000
1981-82 90,000
1982-83 90,000
1983-84 90,000
1984-85 80,000
$ 440,000
General Improvement Bonds, Series 1966-A,
3 9/10%
1980-81 $ 135,000
1981-82 135,000
1982-83 135,000
1983-84 - 135,000
1984-85 135,000
1985-86 135,000
1986-87 135,000
$ 945,000
General Improvement Bonds, Series 1967,
3 9/10 - 4 - 4 1/10%
1981-82 $ 185,000
1982-83 185,000
1983-84 200,000
1984-85 200,000
1985-86 200,000
1986-87 200,000
1987-88 200,000
General Improvement Bonds, 1963, $ 1,370,000
3 - 3 1/10%
1980-81 $ 160,000
1981-82 160,000
1982-83 160,000
$ 480,000
General Improvement Bonds, Series 1963-A,
3- 3 1/10 - 3 2/10 - 3 1/4%
1981-82 $ 275,000
1982-83 275,000
1983-84 275,000
$ 825,000
General Improvement Bonds, Series 1968,
5- 4 3/10 - 4 5/10 - 4 6/10%
1980-81 $ 150,000
1981-82 150,000
1982-83 150,000
1983-84 150,000
1984-85 150,000
1985-86 150,000
1986-87 150,000
1987-88 150,000
$ 1,200,000
Pagr
Germs mprovement Bonds, Seiies 1969 Upper Level College Bonds, Serie 73,
5 1/2 - 5 - 5 3/10 - 5 4/10 - 4 5/10% 5 1/4%
1980-81 $ 200,000 1980-81 $ 100,000
1981-82 200,000 1981-82 100,000
1982-83 200,000 1982-83 100,000
1983-84 200,000 1983-84 100,000
1984-85 250,000 1984-85 100,000
1985-86 250,000 1985-86 100,000
1986-87 250,000 1986-87 100,000
1987-88 250,000 1987-88 100,000
1988-89 250,000 $ 800,000
$ 2,050,000
General Improvement Bonds, Series 1969-A,
6 1/2 - 6 2/10 - 6 1/4 - 6 3/10 - 6.35%
General Improvement Bonds, Series 1973,
6 - 4 9/10 - 5 1/10 - 5 2/10 - 4%
1980-81 $ 300,000
1980-81 $ 150,000 1981-82 300,000
1981-82 150,000 1982-83 300,000
1982-83 150,000 1983-84 300,000
1983-84 150,000 1984-85 300,000
$ 600,000 1985-86 300,000
1986-87 300,000
General Improvement Bonds, Series 1970, 1987-88 300,000
8 - 6 1/2 - 6 6/10 - 6 7/10 - 6% 1988-89 400,000
1989-90 400,000
1980-81 $ 500,000 1990-91 400,000
1981-82 500,000 1991-92 400,000
1982-83 500,000 1992-93 400,000
1983-84 500,000 $ 4,400,000
1984-85 500,000
1985-86 500,000 Certificates of Obligation, Series 1975,
$ 3,000,000 4 - 5 - 5.1 - 5.2 - 5.3%
General Improvement Bonds, Series 1971, 1980-81 $ 200,000
4 - 4 1/2 - 4 7/10 - 4 8/10 - 5% 1981-82 200,000
1982-83 200,000
1980-81 $ 150,000 1983-84 200,000
1981-82 150,000 1984-85 200,000
1982-83 200,000 $ 1,000,000
1983-84 200,000
1984-85 200,000 Tax & Revenue Certificates of Obligation,
1985-86 200,000 Series 1974-A, 6 - 5 1/4 - 5 1/2 -
1986-87 200,000 5 6/10 - 5 7/10%
1987-88 200,000
1988-89 250,000 1980-81 $ 50,000
1989-90 250,000 1981-82 50,000
$ 2,000,000 1982-83 50,000
1983-84 50,000
General Improvement Bonds, Series 1972, 1984-85 50,000
5 9/10 - 5 - 5 2/10 - 5 1/4 - 4% 1985-86 50,000
1986-87 50,000
1980-81 $ 275,000 1987-88 50,000
1981-82 275,000 1988-89 50,000
1982-83 275,000 1989-90 50,000
1983-84 275,000 1990-91 50,000
1984-85 275,000 $ 550,000
1985-86 275,000
1986-87 275,000 General Improvement Bonds, Series 1974,
1987-88 275,000 6 - 5 4/10 - 5 1/2 - 5.65 - 5 7/10%
1988-89 275,000
1989-90 275,000 1980-81 $ 200,000
1990-91 275,000 1981-82 200,000
1991-92 275,000 1982-83 225,000
$ 3,300,000 1983-84 225,000
1984-85 225,000
1985-86 225,000
1986-87 225,000
1987-88 225,000
1988-89 225,000
1989-90 225,000
1990-91 225,000
1991-92 225,000
1992-93 225,000
1993-94 225,000
$ 3,100,000
Pagr
Genes-mprovemerit Bonds, Seties 1975, General Improvement Bonds, Seri, ,77-A,
7 - 5 1/2 - 5 3/4 - 6 - 5% 6 - 4.7 - 4.8 - 4.9 - 4%
1980-81 $ 300,000 1980-81 $ 300,000
1981-82 300,000 1981-82 300,000
1982-83 300,000 1982-83 400,000
1983-84 400,000 1983-84 400,000
1984-85 400,000 - 1984-85 400,000
1985-86 400,000 1985-86 400,000
1986-87 400,000 1986-87 400,000
1987-88 400,000 1987-88 400,000
1988-89 400,000 1988-89 400,000
1989-90 400,000 1989-90 500,000
1990-91 400,000 1990-91 500,000
1991-92 400,000 1991-92 500,000
1992-93 400,000 1992-93 500,000
1993-94 400,000 1993-94 500,000
1994-95 400,000 1994-95 500,000
$ 5,700,000 1995-96 500,000
1996-97 500,000
General Improvement Bonds, Series 1976, $ 7,400,000
6 1/2 - 5 1/2 - 4 3/4 - 4.85 - 5%
General Improvement Bonds, Series 1978,
1980-81 $ 100,000 5.75 - 4.80 - 4.90 - 5.00 - 3.75%
1981-82 200,000
1982-83 200,000 1980-81 $ 350,000
1983-84 200,000 1981-82 400,000
1984-85 200,000 1982-83 450,000
1985-86 200,000 1983-84 1 500,000
1986-87 200,000 1984-85 500,000
1987-88 200,000 1985-86 500,000
1988-89 200,000 1986-87 500,000
1989-90 200,000 1987-88 550,000
1990-91 200,000 1988-89 600,000
1991-92 200,000 1989-90 600,000
1992-93 200,000 1990-91 600,000
1993-94 200,000 1991-92 600,000
1994-95 200,000 1992-93 650,000
1995-96 200,000 1993-94 700,000
$ 3,100,000 1994-95 700,000
1995-96 700,000
General Improvement Bonds, Series 1977, 1996-97 750,000
6 - 4 1/2 - 4.70 - 4.90 - 5% 1997-98 750,000
$10,400,000
1980-81 $ 150,000
1981-82 150,000 General Improvement Bonds, Series 1978-A,
1982-83 150,000 6.75 - 5.25 - 5.4 - 5.5 - 5.6%
1983-84 150,000
1984-85 150,000 1980-81 $ 175,000
1985-86 150,000 1981-82 200,000
1986-87 150,000 1982-83 200,000
1987-88 150,000 1983-84 200,000
1988-89 150,000 1984-85 200,000
1989-90 150,000 1985-86 200,000
1990-91 150,000 1986-87 200,000
1991-92 • 150,000 1987-88 200,000
1992-93 150,000 1988-89 250,000
1993-94 150,000 1989-90 300,000
1994-95 150,000 1990-91 300,000
1995-96 150,000 1991-92 300,000
1996-97 150,000 1992-93 300,000
$ 2,550,000 1993-94 300,000
1994-95 300,000
1995-96 300,000
1996-97 300,000
1997-98 300,000
1998-99-- 300,000
$ 4,825,000
Gene. _mprovement Bonds, Series 1979,
7.50 - 7.125 - 6.2 - 6.25 - 6.3 -
6.35 - 6.4 - 6.5 - 6.6 - 6.7 - 5.5%
1980-81 $ 200,000
1981-82 200,000
1982-83 200,000
1983-84 250,000
1984-85 450,000
1985-86 450,000
1986-87 425,000
1987-88 400,000
1988-89 400,000
1989-90 400,000
1990-91 400,000
1991-92 400,000
1992-93 400,000
1993-94 400,000
1994-95 400,000
1995-96 400,000
1996-97 400,000
1997-98 400,000
1998-99 400,000
1999-2000 400,000
$ 7,375,000
Certificates of Obligation, Series 1979,
7.5 - 6.25 - 6.3 - 6.4 - 6.5 -
6.6 - 6.75 - 5.5%
1980-81 $ 200,000
1981-82 200,000
1982-83 200,000
1983-84 250,000
1984-85 425,000
1985-86 400,000
1986-87 375,000
1987-88 300,000
1988-89 300,000
1989-90 300,000
1990-91 300,000
1991-92 300,000
1992-93 300,000
1993-94 300,000
1994-95 300,000
1995-96 300,000
1996-97 300,000
1997-98 300,000
1998-99 300,000
1999-2000 300,000
$ 5,950,000
TOTAL BONDED DEBT $75,970,000
Total Cash & Securities in
Interest & Redemption Fund
as of October 31, 1980
$ 12,162,095.90
Page
THE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI
We, the undersigned, City Manager and Director of
Finance of the City of Corpus Christi, Texas (the "City"),
do hereby certify as follows:
(1) That this -certificate is given forthebenefit of
the Attorney General of the State of Texas and the purchasers
and subsequent holders of the City of Corpus Christi, Texas
General Improvement Bonds, Series 1980, in the aggregate
principal amount of $7,000,000 (the "Bonds").
(2) That the following table sets forth the principal
and interest requirements on all of the City's debt payable
from ad valorem taxes (including the effect of the issuance
of the Bonds with an assumed interest rate of 8.00% for the
Fiscal Years ending July 31 as indicated. The outstanding
principal and interest requirements include the debt service
requirements on all of such outstanding indebtedness including
Certificates of Obligation, Combination Tax and Revenue Cer-
tificates of Obligation, assumed Water District Bonds and
Hospital Bonds issued by the City (although now being paid
by the Nueces County Hospital District). Included in such
table is the actual tax rate and budgeted and estimated
other Revenues available for debt service for the Fiscal
Year ending in 1981 and the anticipated tax rate and such
other revenues for each of the subsequent Fiscal Years.
• Fval
Year Eoimoced
Ending Tout ,t11
731 Principal Limes Issue
1981 9 5.919.000 3 4.304.260 $ 10,203.260
1982 5.960.000 4.277.735 10.237.735
1983 5.350.000 3.974.291 9.824.291
1984 5.880.000 3.669.571 9.549,571
1985 5,965,000 3,344.625 9.309.625
1986 5.485.000 3,013.985 8.498.985
1987 4,935,000 2,701.320 7.696.320
1988 4.750,000 2,426.188 7.176.188
1989 4,550.000 2.164,856 6.714.856
1990 4,450.000 1.906.519 6.356.519
1991 4,200.000 1,657.963 5.357.963
199E 4.150,000 1,426.850 5,576.850
1993 3.925.000 1,202,400 5.127.400
1994 3.575,000 984,775 4,559.775
1995 3.350,000 783.475 4,133,475
1996 2.950.000 ' 592,975 3.542.975
1997 2.800.000 426.125 3.226.125
1998 2,150.000 265.850 2.415.850
1999 1,400,000 146,150 1,346.150
2000 1.100.000 67.250 1.167.250
2001 400,000 16.000 416.000
383,744.000 559.353.163 5123,097,163
Tax Rate Estimated Tax Estimated Other
Expressed in Levy at 954 Revenues Available
Cents Per 5100 Collections Fur Debt Service
$ 0.26 9 8,285,439 $ 2,444,200
0.26 8,398,000 2,500,000
0.25 8,379,000 2,196,000
0.22 8,255,500 2,030,321
0.21 8,179,500 1,948,625
0.20 7,980,000 1,461,110
0.18 7,353,000 1,193,695
0.17 7,030,000 1,028,300
0.15 6,412,500 1,149,231
0.14 6,118,000 1,053,644
0.12 5,358,000 1,283,338
0.11 5,016,000 1,312,475
0.10 4,655,000 1,192,275
0.09 4,265,000 980,000
0.08 3,010,000 980,000
0.07 3,185,000 985,000
0.06 2,840,000 985,000
0.04 1,986,975 990,000
0.02 1,090,000 990,000
0.01 670,000 995,000
--- ---- 995,000
(3) That there follows a tabulation showing the
sources of estimated "Other Revenues Available for Debt
Service" as reported in the above Section (2) table.
7tsc3l Tourist Interest Accrued Interest Total
Year Airport Gas (Al wastewater and Conven- on On SaLe 00 the Hospital (C3 Other
1981 Airport Tower System Marina System (8) tion Center Investments The Sands District Revenue
1981 0259,610 0 07,900 5251,360 025.585 S 300,000 5 357,315 i 350,000
1982 350,995 79,550 252,300 -- 300.000 452.995 950,000
1983 250.000 76,925 249,300 --- 300,000 308,067 955,000
1994 250,000 74.300 235,500 -- 200,000 288.609 .955.000
1985 250.000 71,550 220,000 --- 150,000 297,705 960,000
1986 200,000 68,800 210,000 -- -- 27,690 960,000
1987 175,000 56.050 -- --- -- - --- 960,000
1988 150.000 63,300 --- -- --- --- 965.000
1989 125,000 , 60.500 -- -- --- --- 965,000
1990 100,000 57,700 -- --- -- --- 970,000
1991 75,000 92,050 --- --- --- 970,000
1992 50,000 --- --- --- --- 87,000 975,000
1993 25,000 -- -- --- .-- - 975,000
1994 --- --- --- --- -- 980.000
1995 --- ------ --- -- - 980,000
1996 --- --- --- --- --- 985,000
1997 --- -- --- -- -- 985.000
1998 -- -- --- --- -- -- 990,000
1399 --- -- --- --- -- 990.000
2000 --- --- --- --- --- 995,000
2901 --- --- -- 995,000
3 45,000
5 117,430 02,444,200
114,160 2,500,000
56,200 2,196,000
26,912 2,030,321
-- 1,948,625
1.438.800
1.376,050
-- 1.178,300
1,150,500
1,127,700
1.097.850
1.025.000
1.000,000
980.000
980,000
985,000
985,000
990,000
990,000
995,000
321,375
(A) excess monies received from the City's Gas System after
payment of operating expenses thereof and the principal and
interest on revenue debt outstanding payable from revenues
of the Gas System.
(B) excess monies received from the City's Waterworks and
Sewer System after payment of operating expenses thereof and
the principal and interest on revenue debt outstanding paya-
ble from revenues of the Waterworks and Sewer System.
(c) payments received from Hospital District to retire
City's bonds assumed by the District.
(4) That all revenues of the City other than pledged
revenues are placed in the General Governmental Funds, i.e.,
General Fund, Marina Revenue Fund, Parking Improvement Fund
and Tourist and Convention Development Fund.
(5) That the cost of operating the City other than the
cost of operating the Waterworks and Sewer System, the Gas
System, the Airport, the Ambulance Service, Internal Services
and Trust and Agency Funds, is paid from the General Govern-
mental Funds, i.e., General Fund, Marina Revenue Fund, Parking
Improvement Fund and Tourist and Convention Development Fund.
(6) 'That the following shows the anticipated revenues
and the anticipated expenditures (1981 through 2001) of the
General Governmental Funds, i.e., General Fund, Marina Revenue
Fund, Parking Improvement Fund and Tourist and Convention
Development Fund:
Estimated
Receipts
Fiscal Estimated from Tax at
Year Tax -Rate ,In Rate -Shown
Ending Cents per With 95%
7-31 $100 Collection
$0.42 $13,347,561
0.42 14,275,000
0.43 16,325,000
0.46 19,507,000
0.43 22,261,000
0.48 25,008,000
0.50 28,655,000
0.51 32,151,000
0.53 36,752,000
0.54 41,190,000
0.56 44,851,000
0.57 47,935,000
0.58 51,214,000
0.59 54,702,000
0.60 58,411,000
0.61 62,356,000
0.62 66,545,000
0.64 72,126,000
0.66 78,-100,000
0.67 83,247,000
0.68 88,714,000
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
(i)
Actual 1980-81 Budget
collection rate. All
lection rate.
Estimated Revenues
To Be -Received
And Beginning
Fund Balance
$ 52,740,761
59,070,000
66,158,000
74,097,000
79,284,000
88,798,000
95,014,000
101,665,000
108,782,000
116,395,000
124,543,000
130,770,000
137,309,000
146,920,000
154,266,000
161,979,000
170,078,000
178,582,000
.187,511,000
196,887,000
206,731,000
Expenditures
$ 51,830,268
58,050,000
65,016,000
72,818,000
77,915,000
83,369,000
89,205,000
95,449,000
102,130,000
109,279,000
116,928,000
122,774,000
128,913,000
135,358,000
142,126,000
149,232,000
156,690,000
164,525,000
172,751,000
181,389,000
190,458,000
calculates tax collections at 96.8%
other years are estimated at 95% col -
(7) That there follows a recapitulation of the fore-
going demonstrating the effect of a tax levy each year at
a rate of 68 cents per $100 valuation on the overall opera-
tion of the City, to -wit:
Combined Tax
Receipts Levied
At A Rate of
68 cents per
$100 valuation
Expenditures
All Revenues Debt Service Other Than
Except Taxes Of All Types For Debt Service Surplus
WITNESS OUR HANDS and seal of the City of Corpus Christi,
..Texas, this .the ARday =of1980.
Director of Fi
ATTEST:
A(AeW
City/Secretary
(SEAL)
a