HomeMy WebLinkAbout16482 RES - 08/19/1981RESOLUTION
APPROVING AN AGREEMENT BY CORPUS CHRISTI
INDUSTRIAL DEVELOPMENT CORPORATION TO ISSUE BONDS
FOR TEX-AIR INVESTMENT CO., THE BOND RESOLUTION
PROVIDING FOR THE ISSUANCE OF SUCH BONDS,
AND DECLARING AN. EMERGENCY
WHEREAS, Corpus Christi Industrial Development Corpora-
tion was created under the auspices of San City of Corpus
Christi, Texas; and
WHEREAS, it is deemed necessary and advisable that this
Resolution be adopted.
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF CORPUS CHRISTI, TEXAS THAT:
Section 1. The "Loan Agreement between Corpus Christi
Industrial Development Corporation and Tex -Air Investment
Co.," in substantially the form and substance as attached to
this Resolution and made a part hereof for all purposes, is
hereby approved, and Bonds in the principal amount of
$8,000,000 may be issued pursuant thereto for the purpose of
paying the cost of acquiring and constructing or causing to
be acquired and constructed the Project as defined and
described therein.
Section 2. The "Resolution Authorizing the Issuance of
Corpus Christi Industrial Development Corporation Revenue
Bonds, Series 1981, and the Execution of a Trust Indenture
(Tex -Air Investment Co. Project)", in substantially the form
and substance attached to this Resolution and made a part
hereof for all purposes, is hereby specifically approved,
and the bonds may be issued as provided for therein.
Section 3. The necessity to approve the Agreement of
the Corpus Christi Industrial Development Corporation to is-
sue bonds for Tex -Air Investment Co., and the Bond Resolution
providing for_the issuance of such bonds creates a public
emergency and an imperative public necessity requiring the
suspension of the Charter rule that no ordinance or resolu-
tion shall be passed finally on the date of its introduction
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 re-
quested the suspension of the Charter rule and that this
Resolution be passed finally on the date of its introduction
and take effect and be in full force and effect from and
after its passage, IT IS ACCORDINGLY SO RESOLVED.
ATTEST:
it Secretary
mAi4L
APPROVED :�j r Y OF AUGUST, 198T
Aine
ant C'ty Attorney
By
Ass
THE CITY OF CORPUS CHRISTI, TEXAS
16482
MICROFILMED
SEP Z 71984
Corpus Christi. Texas
/9 day of
TO THE MEMBERS OF THE CITY COUNCIL
Corpus Christi. Texas
For the reasons set forth in the emergency clause of the foregoing ordinance or resolution,
an emergency exists requiring suspension of the Charter rule as to consideration and voting
upon ordinances or resolutions at three regular meetings; I/we, therefore, request that you
suspend said Charter rule and pass this ordinance or resolution finally on the date it is
introduced, or at the present meeting of the City Council.
Respectfully, Respectfully,
1981
Council Members
MAYOR
THE CITY OF CORPUS CHRISTI, TEXAS
The above ordinance was passed by the following vote:
Luther Jones
Betty N. Turner
Jack K. Dumphy
Bob Gulley
Herbert L. Hawkins, Jr.
Dr. Charles W. Kennedy
Cliff Zarsky
1G482