HomeMy WebLinkAbout18723 ORD - 02/28/1985THE STATE OF TEXAS
COUNTY OF NUECE5
CITY OF CORPUS CHRISTI :
On this the 28th day of February, 1985, the City
Council of the City of Corpus Christi, Texas convened in
Special Meeting, with the following members of said Council
present, to -wit:
Luther Jones,
Betty N. Turner,
Frank Mendez,
David Berlanga, Sr.,
Lea Guerrero,
Mary Pat Slavik,
Joe McComb,
Welder Brown,
Dr. Charles W. Kennedy,
Edward A. Martin,
J. Bruce Aycock,
Juan Garza,
Dorothy G. Zahn,
with the following absent: None
`1:gf
Councilmembess,
City Manager,
City Attorney,
Director of Finance,
Acting City Secretary,
constituting a quorum, at which time the following among
other business was transacted:
Edward A Martin presented for the consideration of the
Council an ordinance. Che ordinance was read by the Acting
City Secretary. The Mayor presented to the Council a
communication In writing pertaining to said proposed ordi-
nance, as follows.
"2,T:ry1L7'1;j""
"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
proceedn of bonds contemplated to be issued pursuant to an
ordinance create an emergency and an imperative public
necessity requiring the suspension of rules and Charter
provisions requiring ordinances to be considered and voted
upon at three regular meetings. I, therefore, request that
the City Council pass the proposed ordinance authorizing the
issuance of bonds as an emergency measure. You will please
consider this request in connection with the ordinance which
Is to be Introduced for passage by the City Council on the
subject.
"Yours very truly,
/s/ Luther Jones
Mayor"
18723
m Ro F MED
Councilmember Frank Mendez moved that the Charter
provision prohibiting ordanances 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 emer-
gency clause of the ordinance. The motion was seconded by
Mayor Pro Tern Betty N Turner The motion was carryed by
an unanimous vote by the City Council, vi.:
AYES All present voted Aye
NAYS. None.
Mayor Pro Tem Betty N Turner moved that the ordi-
nance be passed finally The motion was seconded lay Coun-
cilmember nn:i BerInnoq . The motion was carrled by the
following vote:
AYES: All present voted Aye.
NAYS: None.
The Mayor announced that the ordinance had been passed.
The ordynance is as follows.
ORDINANCE
BY E CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS,
PROVIDING FOR THE
ISSUANCE OF $13,330,000
CITYOF CORPUS CHRISTI,TEXAS GENERAL IMPROVEMENT
BONDS, SERIES 1985, HEARING INTEREST AT THE RATES
HEREINAFTER SET FORTH, AND PROVIDING FOR THE LEVY,
ASSESSMENT AND COLLECTION OF A TAX SUFFICIENT TO
PAY T T ON SAID BONDS A
HE INTEREST TO CREATE A
SINKING FUND FOR THE REDEMPTION
THEREOF
MATURITY; REPEALING ALL ORDINANCES IN CONFLICT
HEREWITH AND DECLARING AN EMERGENCY
WHEREAS, 1t rs deemed advisable and to the best Inter-
est of the City that bonds authorized at elections held 1n
said City on February 20, 1982 and August 13, 1983 be sold
at thea ti , the dates of the elections, amounts of bonds
authorized thereat, purposes, and the amount now to be sold
being as follows:
DATE OF AMOUNT AMOUNT P .NOW
ELECTION AUTHORIZED PURPOSE PIOUSLY SOLD OFFERED
2-20-82 $ 15,675,000 San. Sewer $ 6,000,000 $2,000,000
2-20-82 12,315,000 Street 7,720,000 1,530,000
2-20-82 800,000 San.Land 5111 800,000 -0-
2-20-82 1,212,000 Parks ae . 1,212,000 -0-
2-20-82 5,000,000 AIrpt.Landc6
Hazard Ellman. 3,750,000 -0-
2-20-82 1,642,000 Airport Impr. 1,543,000 -0-
2-20-82 2,255,000 Storm Sewer 980,000 300,000
2-20-82 1,565,000 Public Safety 1,565,000 -0-
2-20-82 5,000,000 Library 5,000,000 -0-
8-13-83 15,000,000 City Hall 5,500,000 9,500,000
$ 60,464,000 $34,070,000 $13,330,000
WHEREAS, 1t 1s hereby officially found and determined:
that a case of emergency or urgent public necessity errsts
which requires the holding o£ the meeting at which this
Ordinance Is passed, such emergency or public necessity
being that the proceeds from the proposed bonds are required
a5 soon as possible and without delay for necessary and
urgently needed public improvements; that this meeting was
open to the public as required by law; and that public
notice of the time, place and purpose of this meeting was
given as required by Vernon's Ann. Civ. St. Article 6252-17,
as amended.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI, TEXAS:
1. That sald Coty's bonds to be designated the "City
of Corpus Christi, Texas General Improvement Bonds, Series
19854 are hereby authorized to be issued and delivered In
accordance with the Constitution and the laws of the State
of Texas on the principal amount of $13,330,000 for the
purpose of providing $2,000,000 for constructing improve-
ments to the Sanitary Sewer System, including improvements
to Alloson, Laguna Madre, and Westside Plants, extension of
laterals and trunk lines 15 0001061 locations within the
City limits, and other Sanitary Sewer Improvements;
$1,530,000 for improving the streets of the City, Including
Tiger Lane from Weber Road to Flynn Parkway; Purdue Road
from Waldron Road to Flour Bluff Drive and from Debra Lane
to Laguna Shores Poad, mcArdle Road from Crescent Drive to
Nile Drove; various traffic sognal improvements, intersec-
tion Improvements throughout the City, and other street and
sidewalk Improvements; 6300,000 for constructing drainage
Improvements, Including improved storm sewers on the
Calallen, Clarkwood areas, various intersections along South
Padre Island Drove, and other storm sewer improvements;
and $9,500,000 for making permanent improvements, to -010:
Acquiring and constructing a new Caty Hall and related
permanent zmprovements.
2 That said bonds shall have the Initial date of
March 15, 1985, shall be in the denomination 00 85,000 or
any ontegral multiple thereof, numbered consecutively from I
upward, and shall mature and become due and payable on March
15 in each of the years, and in the amounts, respectively,
as set forth in the following schedule
YEAR AMOUNTS YEARS AMOUNTS
1986 $ 180,000 1996 $ 700,000
1987 350,000 1:r8 700,000
1988 500,000 700,000
1989 600,000 1999 700,000
1990 600,000 2000 800,000
1991 700,000 2001 600,000
1992 700,000 2002 600,000
1993 700,000 gg.1 800,000
1994 700,000 800,000
1995 700,000 2005 800,000
3. That as to said bonds scheduled to mature on and
after March 15, 2001, said City shall have the right and
option to redeem such bonds prior to their scheduled maturi-
ties, In whole or in part, on March 15, 2000, or on any
interest payment date thereafter, for the principal amount
thereof plus accrued Interest to the date fixed for redemp-
tion.
At least thirty (30) days prior to the date any such
Bonds are to be redeemed, a written notice of redemption
shall be given to the registered owner of each Bond or a
portion thereof being called for redemption by depositing
such notice in the United States mail, postage prepaid,
addressed to each such registered owner at his address shown
on the registration books of the Paying Agent/Registrar
(hereinafter defined). By the date fixed for any such
redemption due provision shall be made by the City with the
Saying Agent/Registrar for the payment of the required
redemption price for the Bonds or the portions thereof which
are to be so redeemed, plus accrued Interest thereon to the
date fixed for redemption If such notice of redemption is
given, and if due provision for such payment is made, all as
provided above, the Bonds, or the portions thereof which are
to be so redeemed, thereby automatically shall be redeemed
prior to their scheduled maturities, and shall not bear
interest after the date fixed for their redemption, and
shall not be regarded as being outstanding except for the
right of the registered owner to receive the redemption
price plus accrued interest to the date fixed for redemption
from the Paying Agent/Registrar out of the funds provided
for such payment The Paying Agent/Registrar shall record
in the Registration Books all such redemptions of principal
of the Bonds or any portion thereof If a portion of any
Bond shall be redeemed a substitute Bond or Bonds having the
eame maturity date, bearing interest at the same rate, in
any denomination or denominations in any integral multiple
of $5,000, at the written request of the registered owner,
3
and in an aggregate principal amount equal to the unredeemed
portion thereof, will be issued to the registered owner upon
the surrender thereof for cancellation, at the expense of
the City, all as provided In this Ordanance.
4. That said bonds shall bear interest, until nmturity
or redemption, at the following rates per annum(
Bonds maturing 1986 -- 12„.5A9 Bonds maturing 1996 -- 10 508
Bonds maturing 1987 -- _a518 Bonds maturing 1997 -- 10.508
108 88500009 1988 -- _1131, Bonds maturing 1998 -- 10 508
Bonds maturing 1989 -- 00988maturing 1999 -- 10 598
Bonds maturing 1990 -- _Hug* Bonds maturing 2000 -- 10 59*
Bonds maturing 1991 -- a_51a Bonds maturing 2001 -- -1FTT%
Bonds maturing 1992 -- Bonds maturing 2002 ---808
Bonds maturing 1993 -- 10 008 Bonds maturing 2003 --
909 08900009 1994 -- 5,fl% Bonds maturing 2004 -- -R-5F8
Bonds maturing 1995 -- _11618 Bonds maturing 2005 -- 8.008
payable September 15, 1985, and semiannually thereafter on
March 15 and September 15 of each year. Said interest shall
be payable to the registered owner of any such Bond an the
manner p0091090 19 the FORM OF BONO set forth in this
Ordinance.
5. Paying Agent/Registrar. (a). The City shall keep
or cause to be kept at the principal corporate trust office
of MBank Corpus Christi, N.A., Corpus Christi, Texas, or
such other bank or trust company named in accordance with
the provIslons of (g) of this Section hereof (the "Payang
Agent/Registrar") books or records of the registration and
transfer of the Bonds (the "Registration Books"), and the
City hereby appoints the Ralung Agent/Registrar as Its
registrar and transfer agent to keep such books or records
and make such transfers and registrations under such reason-
able regulatIons as the City and Poyang Agent/RegIstrar may
prescribe, and the Paying Agent/Registrar shall make such
transfers and registrations as herein provided. It shall be
the duty of the Paying Agent/Registrar to obtain from the
registered owner and record In the RegyStratiOn Books the
address of such registered owner of each bond to which
payments with respect to the Bonds shall be mailed, as
herein provided The City or its designee shall have the
right to inspect the Registration Books 800009 0890180
business hours of the Paying AgentiRegistrar, but otherwise
the Payrng Agent/Registrar shall keep the Registration Books
confidentral and, unless otherwise requrred by law, shall
not permit their Inspection by any other entrty Regrstra-
tron of each Bond may be transferred in the Registration
Books only upon presentatron and surrender of such bond to
the Paying Agent/Regrstrar for transfer of regystratron and
cancellation, together with proper written Instruments of
assignment, an form and with guarantee of sygnatures satis-
factory to the Paying Agent/Regastrar, evidencing the
assignment of the bond, or any portion thereof in any
Integral multiple of U5,000, to the assagnee or assagnees
thereof, and the rrght of such assignee or assignees to have
the bond or any such portion thereof regastered in the name
of such assignee or assygnees. Upon the assignment and
transfer of any Bond or any portion thereof, a new substi-
tute bond or bonds shall be issued in conversion and
exchange therefor inthemannerherelnprovaded.
(b) The entity in whose 0000 00y Bond shall be
registered in the RegistratIon Books at any time shall be
treated as the absolute owner thereof for all purposes of
this Ordinance, whether or not such bond shall be overdue,
and the City and the Paying Agent/Regastrar shall not be
affected by any notice to the contrary unless otherwise
required by law, and payment of, or on account of, the
princrpal of, prem., if any, and interest on any such bond
shall be made only to such registered owner. All such
payments shall be valid and effectual to satisfy and
drscharge the liability upon such bond to the extent of the
sumor sums so paid
(c) The Crty hereby further appoints the Paying
Agent/Regystras' to act as the payIng agent for payIng the
principal of and Interest on the Bonds, and to act as Its
agent to convert and exchange or replace Bonds, all as
provided In this OrdInance The Paying Agent/Regystrar
shall keep proper records of all payments made by the City
and the Paying Agent/Registrar with respect to the Bonds,
and of all ~nver~onsand exchanges °such bonds, and all
replacements ^such bonds, ~ provided ~ thy .Ordinance
~` Each ~°may beconverted Into and exchanged for
fully registered 8008550 the manner set forth herein. Each
bond Issued and delivered pursuant ° this Ordinance, to the
extent °the unpaid ~unredeemed prIncipal balance or
,~~^,^^~~.°"~~.,. may, up~ surrender of such bond
~ ~~ ~~~pal corporate trust offI~ofthe ~~ng
Age~~~~~. together ~th.Written ~qo.~therefor
duly ~~~ed by the ~~~~.~ own~ or the assignee or
^.~~~.~ thereof, .. Its ^. their duly ~°~~.ed attorneys
_ rep~~~~~~, °~ guarantee .^ sig~~~. satis-
factory ,, the "~^ng~~nt/Re~.`~~atthe option .,the
registered ~~. ~ such assignee ~~~~~~, ~app~
.~~....~~.,^°`~^~^.~~~.,,.fu``,~~.~~ed
bonds, ~tho~ ^nte~st coupons, an the form ~~-obe^~
the FORM OF BO. set forth In th^^"~dynanc^,^^the denom-
anatIon ,, ",^=, or any integral multIple of $5,000
`subqect~the ~quoremen"here~afte~stated that each
substitute Bond shall have .sIn°.stated mat~aty°~`,
~ requested in writing by such ~~~~ed own~ ~ ~^
~~gne. _ .~.gn~.. ~~ aggregate ~~~~ amount
~~^^ ~ °~~~^`^ ,. unredeemed principal amount of any
bond ~ bonds . surrendered, and payable ~ the app~~~.
~,^~~.~ ~~. ^.~~~., .. ^.~,~.., .. the ..~ may
~ ., a portIon ~ any Bond shall beredeemed ~~~its
scheduled maturity ^. provided herein, ^~~st^~~bond ~
bonds having the same =~ date, bearangInterest =the
same rate, `. the denom~at^^.^.denom^~"^~~.'any
integral multaple °",,000~the request ~ the registered
own~, ~^ ~ ~ aggregate pra~~al amount equal to the
unredeemed ,~.`^~ thereof, wall beIssued ~ the registered
owner upon surrender thereof for cancellation .^ any Bond
~ portion thereof ^....^~~" and transferred .~converted,
each bond Issued ~ exchange therefor shall have the same
,orancamal maturIty date and bear Interest at the same rate
6
as the bond for which it as being exchanged Each substi-
tute bond shall bear a letter and/or number to distinguish
it from each other bond The Paying Agent/Registrar shall
convert and exchange or replace Bonds as provided herein,
and each fully registerd bond delivered in conversion of
and exchange for or replacement of any bond or portion
thereof as permitted or required by any provision of this
Ordinance shall constitute one of the Bonds for all purposes
of this Ordinance, and may again be converted and exchanged
or replaced It Is specifically provided, however, that any
bond delivered in conversion of and exchange for or replace-
ment of another bond prior to the first scheduled interest
payment date on the Bonds (as stated on the face thereof)
shall be dated the same date as such bond, but each substi-
tute bond so delivered on or after such first scheduled
Interest payment date shall be dated as of the Interest
payment date preceding the date on which such substitute
bond is delivered, unless such bond is delivered on an
Interest payment date, In which case at shall be dated as of
such date of delivery, provided, however, that if at the
time of delivery of any substitute bond the interest on the
bond for which it is being exchanged has not been paid, then
such bond shall be dated as of the date to which such
interest has been paid in full On each substitute bond
issued in conversion of and exchange for or replacement of
any hond or bonds issued under this Ordinance there shall he
printed thereon a Paying Agent/Registrar's Authentication
Certificate, in the form hereinafter set forth An author-
Ined representative of the Paying Agent/Registrar shall,
before the delivery of any such bond, date such by dating
the Authentication Certificate an the manner set forth
above, and manually sign such Certificate, and no such bond
shall be deemed to be issued or outstanding unless such
Certificate Is so executed The Paying Agent/Registrar
promptly shall cancel all Bonds surrendered for conversion
and exchange or replacement No additional ordinances,
orders, or resolutions need be passed or adopted by the City
Council or any other body or person so as to accomplish the
foregoing conversion and exchange or replacement of any Bond
or portion thereof, and the Paying Agent/Registrar shall
provide for the printing, execution, and delivery of the
substitute bonds in the manner prescribed herein, and said
bonds shall be of type composition printed on paper with
lithographed or steel engraved borders of customary weight
and strength Pursuant to Article 717k-6, VACCS, and
particularly Section 6 thereof, the duty of conversion and
exchange or replacement of bonds as aforesaid 10 hereby
Imposed upon the Paying Agent/Registrar, and, upon the
execution of the above Paying Agent/Registrar's Authen-
tication Certificate, the converted and exchanged or re-
placed Bond shall be valid, Incontestable, and enforceable
in the same manner and with the same effect as the Bonds
which originally were delivered pursuant to this Ordinance,
approved by the Attorney General, and registered by the
Comptroller of Public Accounts Neither the City nor the
Paying Agent/Registrar shall be required (1) to make any
assignment, transfer, conversion or exchange during a period
beginning at the opening of business 30 days before the day
of the first mailing of a notice of redemption of Bonds and
ending at the close of busyness on the day of such mailing,
or (2) to assign, transfer, convert or exchange any Bond
after it is selected for redemption, in whole or in part.
(e) All Bonds issued in conversion and exchange or
replacement of any other Bond or portion thereof, (1) shall
be issued In fully registered form, without Interest cou-
pons, with the principal of and Interest on such bonds to be
payable only to the registered owners thereof, (11) may be
redeemed prior to their scheduled maturities, (111) may be
transferred and assigned, (iv) may be converted and ex-
changed for other Bonds, (v) shall have the characteristics,
(v1) shall be signed and sealed, and (v11) the principal of
and Interest on the Bonds shall be payable, all as provided,
8
and in the manner required or Indicated, in the FORM OF BOND
set forth in this Ordinance
(1) The City shall pay the Paying Agent/Registrar
reasonable and customary fees and charges for making trans-
fers of Bonds, but the registered owner of any Bond request-
ing such transfer shall pay any taxes or other governmental
charges required to be paid with respect thereto The
registered owner of any Bond requesting any conversion and
exchange shall pay the Paying Agent/Registrar's reasonable
and standard or customary fees and charges for converting
and exchanging any such bond or portion thereof, together
with any taxes or governmental charges required to be paid
with respect thereto, all as a condition precedent to the
exercise of such privilege of conversion and exchange,
except, however, that in the case of the conversion and
exchange of an assigned and transferred bond or bonds or any
portion or portions thereof In any Integral multIrae of
$5,000, and in the case of the conversion and exchange of a
portion the unredeemed portion of a Bond which has been
redeemed in part prior to maturity, as provided in this
Ordinance, such fees and charges will be paid by the City
In addition, the City hereby covenants with the registered
owners of the Bonds that it will (I) pay the reasonable and
standard or customary fees and charges of the Paying Agent/
Registrar for its services with respect to the payment of
the principal of and Interest on the Bonds, when due, and
(1A) pay the fees and charges of the Paying Agent/Registrar
for services with respect to the transfer or registration of
Bonds, and with respect to the conversion and exchange of
Bonds solely to the extent above provided.
(g) The City covenants with the registered owners of
the Bonds that at all times while the Bonds are outstanding
the City will provide a competent and legally qualified bank
or trust company to act as and perform the services of
Paying Agent/Registrar for the Bonds under this Ordinance,
and that the Paying Agent/Registrar will be one entity The
City reserves the right to, and may, at its optmon, change
the Paying Agent/Regmstrar upon not less than 60 days
written notice to the Paying Agent/Registrar In the event
that the entity at any time acting as Paying Agent/Registrar
(or its successor by merger, acquisition, or other method)
should resign or otherwise cease to act as such, the City
covenants that promptly it will appoint a competent and
legally qualified natmonal or state banking institution
whmch shall be a corporatmon organized and doing business
under the laws of the United States of America or of any
state, authorized under such laws to exercise trust powers,
subdect to supervision or eraminatmon by federal or state
Authority, and whose qualifications substantmally are
similar to the previous Paying Agent/Registrar to act as
Paying Agent/Registrar under this Ordinance Upon any
change in the Paying Agent/Registrar, the previous Payang
Agent/Registrar promptly shall transfer and deliver the
Registration Books (or a copy thereof), along with all other
pertinent books and records relating to the Bonds, to the
new Paying Agent/Registrar designated and appointed by the
City Upon any change in the Paying Agent/Regmstrar, the
City promptly will cause a written notice thereof to be sent
by the new Paying Agent/Registrar to each registered owner
of the Bonds, by Unmted states Mail, postage prepamd, whmch
notice also shall gi/e the address of the new Paying Agent/
Registrar By accepting the position and performing as
such, each Paying Agent/Registrar shall be deemed to have
agreed to the provisions of thas Ordinance, and a certified
copy of this Ordinance shall be delivered to each Paying
Agent/Registrar
6 That each of said bonds shall be signed by the
imprinted or lithographed facsimile signature of the Mayor
of said City and countersigned by the imprmnted or litho-
graphed facsimile signature of the City Secretary of said
City, and the official seal of said City shall be impressed,
orprinted, or lithographed on eachof saddbonds.
10
7 Form of Bond The form of all Bonds, including the
form of the Paying Agent/Registrar's Certificate, the Form
of Assignment, and the form of the Comptroller's Registra-
tion Certificate to accompany the Bonds on the initial
delivery thereof, shall be, respectively, substantially as
follows, with such appropriate variations, omissions, or
insertions as are permitted or required by this Ordinance
FORM OF BOND
NO
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF NUECES
CITYOF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BO
SERIES 1985
MATURITY DATE INTEREST RATE ORIGINAL ISSUE DATE CUSIP
March 15, 1985
ON THE MATURITY DATE SPECIFIED ABOVE, THE CITY OF
CORPUS CHRISTI, TEXAS (the "City"), hereby promises to pay
to , or to the registered assignee
hereof (either being hereinafter called the 7reglatered
owner") the principal amount of
and to pay interest thereon, from the original issue date of
this Bond specified above, to the date of its scheduled
maturity or the date of its redemption prior to scheduled
maturity, at the rate of interest per annum specified above,
with said interest being payable on September 15, 1985, and
semiannually on each March 15 and September 15 thereafter,
except that if the Paying Agent/Registrar's Authentication
Certificate appearing on the face of this Band is dated
later than September 15, 1985, such interest Is payable
semiannually on each March 15 and September 15 following
such date
THE TERMS AND PROVISIONS of this Band are continued on
the reverse side hereof and shall for all purposes have the
same effect as though fully set forth at this place
THE PRINCIPAL OF AND INTEREST ON this Bond are payable
in lawful money of the United States of America, without
exchange or collection charges The principal of this Bond
11
shall be ski, to the regystered owner hereof upon presenta-
tion and surrender of Chas Bond at maturity or upon the date
faxed for Its redemptIon prior to maturtty, at the 0011100001
corpotate trust office of MBank Corpus Christi N A , Corpus
Chrasti, Texas, which Is the ''PayIng A00000/000 00000!? for
this Bond The payment of Interest on this Bond shall be
made by the Paying Agent/Regystrar to the registered owner
hereof as shown by the Registration Books kept by the Paying
Agent/Regastrar at the close of busaness on the fIrst day of
the month of such Interest payment date by check drawn by
the Poyang Agent/Regastrar on, and payable solely from,
funds of the City rvgulred to be on deposit with the Payang
Agent/Regystrar for such purpose as hereinafter provIded,
and such check shall be sent by the Paying Agent/Regastrar
by Milted States mall, postage prepaid, on each such in-
terest payment date, to the regastered owner hereof at Its
address as it appears an the Registration Books kept by the
PayIng Agent/Regastrar, as hereinafter descrybed The Caty
covenants wath the registered owner of thys Bond that no
later than each principal payment date and Interest payment
date for this Bond it will make avallable to the Paying
Agent/Regastrar the amounts required to provade for the
payment, an ammediately ,l10001e funds, of all prancIpal of
and interest on the Bonds, when due, In the manner set forth
an the ordynance autheracing the ieonance of the bonds (the
''Ordanance.)
*IF THE DATE for the payment of the principal of or
interest on thas Bond shall be a Saturday, Sunday, a legal
holaday, or a day on whach banking institutions in the caty
where the Paying Agent/Regystrar .s located are authoraced
by law or executive order to close, then the date for such
payment shall be the next succeeding day whach Is not such a
SktusdaY, Sunday, legal holaday, or day on which banking
institutions are authoraced to close, and payment on such
date shall have the same force and effect as af made on the
original date paymentwas due
12
*THIS BOND is one of a Series of bonds of like tenor
and effect except as to number, maturity, Interest rate end
right of prior redemption, issued In the aggregate principal
amount of $13,330,000 for the purpose of providing
$2,000,000 for constructing Improvements to the Sanitary
Sewer System, $1,530,000 for improving the streets of the
CitY, $300,C00 for constructing drainage improvements,
including improved storm sewers in the Calallen, Clarkwood
areas; various Intersections along South Padre Island Drive,
and other storm sewer improvements, and $9,500,000 for
making permanent improvements, to -wit: Acquiring and
constructing a new City Hall and related permanent improve-
ments
*THE BONDS OE THIS SERIES scheduled to mature on and
after March 15, 2001 may be redeemed prior to their sched-
uled maturities, in whole, or in part, at the option of said
City, on March 15, 2000, or on any Interest payment date
thereafter, for the principal amount thereof plus accrued
interest to the date fixed for redemption. At least 30 days
prior to the date fixed for any such redemption, a written
notice of such redemption shall be given to the registered
owner of each Bond or a portion thereof being called for
redemption by depositing such notice In the United States
Mail, postage prepaid, addressed to each such registered
owner at his address shown on the Registration Books of the
Paying Agent/Registrar. By the date fixed for any such
redemption due provision shall be made by the City with the
Paying Agent/Registrar for the payment of the required
redemption price for this Bond or the portion hereof which
19 00 be so redeemed, plus accrued interest thereon to the
date fixed for redemption. If such notice of redemption is
given, and if due provision 100 5000 payment is made, all as
provided above, this Bond, or the portion thereof which is
to be so redeeMed, thereby automatically shall be redeemed
prior to its scheduled maturity, and shall not bear Interest
after the date fixed for its redemption, and shall not be
13
regarded ~ being outstanding except for the ~ght°the
registered owner ~ receive the redemption price plus
accrued interest ~ the date fixed fox. redemption from the
Paying~ent~~~rar out ^the funds provided for such
payment The Paying °~~Re,^.`.~ shall ~..rd in the
Registration Books all such redemptions ofprincipal ofthis
Bond ..~, Portion hereof .^^ portion .' any Bond shall
~ redeemed ^ substitute Bond ~ Bonds having the sere
ma~~,, .~., b.~^., ^~~~.` ~ ~. .~~ ~~, ^. ^~
denomination ~denominations ~ ~, integral multiple of
.^",,,^. the written request ~' the registered owner, and
^. aggregate principal amount equal to °~ ~~deemed
,..~~°.~,', will ^. issued ,^ the registered owner upon
the surrender thereof for cancellation, at the expense of
the City, all .. provided ^.~.Ordinance
'~~" B0155 ~=, PORTION ORPORTIONS HEREOF "=,
INTEGRAL MULTIPLE OF ""= may be assigned and °~`` be
transferred only ~ the Registration Books ^ the City kept
by the '~.ng ^~nt/~.^..~. ^~^~ in the .sP^^^° ,,
registrar for the Bonds, ~~the°rms and conditions =
,.,~^."~ °.^.~~. Among ^"~. requirements for such
assignment and.anSf~, this Bond must bepresented and
surrendered to the ~~° Agent/Registrar, together with
proper instruments ^. assignment, ^. form and with guarantee
~ ~gnat~. ~~.~~~ ~ the Paying Agent/Registrar,
.~~~^~ assignment of this Bond or any portion Sr
,~~~~~of ~ ~, ~~_al multiple ~ ",~" ~ "~
assignee ~ assignees ^. whose name ~ names this Bond ~
any such portion .. portions hereof ^..' are ".^trans-
ferred ~^ ~°~~^ The form ^^^grax~ ~.~ed~
~~~~~ ~ °^. Bond may ^. executed ", °~ ~.^~.~^
owner ~ evidence the assignment hereof, but such method is
not exclusive, and other Instruments ,' assignment satisfac-
tory ~"~Pa~ng Age~,~~~~may beused to evidence
the assignment ,' this Bond .. any portion .,portions
hereof from time ~ time ° the registered owner ^new
14
Bond or Bonds payable to such assignee (which then will be
the new registered owner of such new Bond or Bonds), or to
the previous registered owner in the case of the assignment
and transfer of only a portion of this Bond, may be de-
livered by the Paying Agent/Registrar in conversion of and
exchange for this Bond, all in the form and manner as pro-
vided in the Ordinance Also, as provided In the Ordinance,
this Bond, or any unredeemed portion hereof, may. at the
request of the registered owner or the assignee or assignees
hereof, be converted into and exchanged for a like aggregate
principal amount of fully registered bonds, without Interest
coupons, payable to the appropriate registered owner,
assignee, or assignees, as the case may be, having the same
maturity date, and bearing Interest at the same rate, in any
denomination or denomInatrons in any integral multiple of
45,000 as requested In writing by the appropriate registered
owner, assrgnee, or assignees, as the case may be, upon sur-
render of this Bond to the Baying Agent/Registrar for
cancellatron, all In accordance wrth the form and procedures
set forth in the Ordinance Neither the City nor the Paying
Agent/Registrar shall be required (1) to make any assrqn-
ment, transfer, conversion or exchange during a period
begrnning at the opening of busyness 30 days before the day
of the first mailang of a notice of redemption of bonds and
ending at the close of business on the day of such mailing,
or (2) to assign, transfer, convert or exchange any bonds so
selected for redemption when such redemption rs scheduled to
occur within 30 calendar days. The one requesting such
conversion and exchange shall pay the Paying Agent/Regie-
trar's reasonable standard or customary fees and charges for
converting and exchanging any Bond or portion thereof,
together with any taxes or governmental charges required to
be paid wrth respect thereto, all as a condition precedent
to the exercise of such privilege of conversion and ex-
change, except however, that In the case of the conversion
and exchange of an assigned and transferred Bond or Bonds
15
or any portion or portions thereof In any Integral multiple
of 05,000, as described In the pre,,rous paragraph, and In
the case of the conversion and exchange of a portion of a
Bond which has been redeemed prior to maturity, as provided
herein, such fees andchargeswill be paidby the CitY
sic THE EVENT any Baying Agent/Regrstrar for the Bonds
is changed by the City, resigns, or otherwise ceases to act
as such, the Crty has covenanted In the Ordinance that It
promptly will appoint a competent and legally qualified
substrtute therefor, whose qualifications substantrally are
similar to the prevaous Paying Agent/Regrstrar it is replac-
ing, and promptly wIll cause wrrtten notrce thereof to be
mailed to the registered owners of the Bonds
*BY BECOMING the registered owner of thrs Bond, the
registered owner thereby acknowledges all of the terms and
provisions of the Ordinance, agrees to be bound by such
terms and provisions, acknowledges that the Ordrnance rs
duly recorded and avarlable for inspection in the °Moral
mlnutes and records of the Crty, and agrees that the terms
and provisions of this Bond and the Ordinance constitute a
contractbetweeneach registered owner hereof and the City
IT IS HEREBY CERTIFIED AND RECITED that this bond has
been duly and validly voted, authorised, issued and de-
livered in accordance with the Constitution and laws of the
State of Texas, that thrs bond rs a general oblagataon of
Sald City, issued on the full farth and credit thereof, and
that the ad valorem taxes, upon all taxable property In said
CitY, necessary to pay the interest on and principal of this
bond, as such Interest comes due, and such principal
matures, have been pledged for such purpose, within the
lamItprescrIbedby law
IN WITNESS WHEREOF, this bond has been srgned by the
imprinted or lithographed facsimile signature of the Mayor
of said Crty and countersigned by the imprinted or Irtho-
graphed facsimile signature of the Crty Secretary of sard
16
City, and the official seal of said City has been duly
impressed, or printed, or lithographed on this bond
City Secret=yo£ Corpus Mayor, C xof Corpus
Christi, Texas Christi, Texas
(SEAL)
FORM OF PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE
PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE
It as hereby certified that this Bond has been issued
under the provisions o£ the Ordinance described on the face
of this Bond, and that this Bond has been issued in conver-
sion of and elchange for or replacement of a bond, bonds, or
a portion of a bond or bonds of an Issue whack originally
was approved by the Attorney General of the State of Texas
and registered by the Comptroller of Public Accounts of the
State o£ Teras
Dated
Paying Agent/Registrar
By
Authorized Representative
FOREOF ASSIGNMENT
ASSIGNMENT
For value received, the undersigned hereby sells, assigns
and transfers unto
(Please a octal Security or Taxpayer
ldenty £v anon Number o£ Transferee)
/ (Please a sal G sty or Taxpayer
Identi£icata n Number o£ Transferee)
(Please print or typewnrp teonmoe randsdfreerss,) including
the within Bond and all rights thereunder, and hereby
irrevocably constitutes and appoints
attorney to register
the transfer of the within Bond on books kept for registra-
tion thereof, with full power o£ substitution in the
Dated
17
Signature Guaranteed
Nagnature(s) must NOTICE The signature above
be guaranteed
by a member correspondwith the
firothe New York Stock name of the Registered Owner
Exchange or a commercial as it appears upon the front
bank or trust company of this Bond in every parti-
cular, without alteration or
whatsoevert or any change
(FORM OF COMPTROLLER'S CERTIFICATE ATTACHED TO
THE BONDS UPON INITIAL DELIVERY THEREOF)
OFFICE OF COMPTROLLER
REGISTER NO
STATE OF TEXAS
I hereby certify that there is on file and of record in
my office a certificate of the Attorney General o£ 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 that it is a valid and binding obliga-
tion of the City of Corpus Christi, Texas, payable 1n the
manner provided by and in the ordinance authorizing same,
and said Bond has this day been registered by me
WITNESS MY HAND and seal of office at Austin, Texas
Comptroller of Public Accounts of the
State of Teias
(SEAL)
NOTE co PRINTER
*vs to be on reverse a o£ bond
**9 not to be on bond
8 That a special fund or account, to be designated
the "City o£ Corpus Christi, Texas General Improvement
Bonds, Series 1985 Interest and Sinking Fund" is hereby
created and shall be established and maintained by said City
at its official depository bank Said Interest and Sinking
Fund shall be kept separate and apart from all other funds
and accounts of said City, and shall be used only for paying
the interest on and principal o£ said bonds All taxes
levied and collected for and on account of said bonds shall
be deposited, as collected, to the credit of said Interest
and Sinking Fund DurIng each year while any o£ said bonds
appertaining thereto are outstanding and unpaid, the City
18
council of said City shall compute and ascertain the rate
and amount of ad valorem tax, based on the latest approved
tax rolls of said City, with full allowances being made for
tar delinquencies and costs of taa collections, which will
be sufficient to raise and produce the rmney required to PaY
the Interest on said bonds as such interest comes due, and
to provide a sinking fund to pay the principal of such bonde
as such principal matures, but never less than 2% of the
original principal amount of said bonds as a sinking fund
each year Said rate and amount of ad valorem tax Is hereby
ordered to be levied and is hereby levied against all
taxable property in said City for each year while any of
said bonds appertaining thereto are outstanding and unpaid,
and said ad valorem tax shall be assessed and collected each
such year and 9090009 00 the credit of the aforesaid
Interest and Sinking Bund Said ad ialorem taxes necessary
to pay the Interest on and principal of said bonds, as such
Interest comes due, 009 0000 principal matures, are hereby
pledged for such purpose, within the limit prescribed by
law
9 (a) In the event any outstanding Bond is damaged,
mutilated, lost, stolen, or destroyed, the Paying Agent/Reg-
istrar shall cause to be printed, eaecuted, and delivered, a
new bond of the same principal amount, maturity, and Inter-
est rate, as the damaged, mutilated, lost, ato1en, or
destroyed Bond, in replacement for such Bond in the manner
hereinafterprovided
(b) Application for replacement of damaged, mutilated,
lost, stolen, or destroyed Bonds shall be made to the Paying
Agent/Registrar In every case of loss, theft, or destruc-
tion of a Bond, the applicant for a replacement bond shall
furnish to the City and to the Paying Agent/Registrar such
security or Indemnity as may be required by them to save
each of them harmless from any loss or damage with respect
thereto. Also, in every case of loss, theft, or destruction
of a Bond, the applicant shall furnish to the City and to
19
the Paying Agent/Registrar evidence to their satisfaction of
the loss, theft, or destruction of such Bond, as the case
may be. In eiery case of damage or mutilation of a Bond,
the applicant shall surrender to the Paying Agent/Registrar
for cancellation the Eo:od so damaged or mutilated
(c) Notwithstanding the foregoing provisions of this
Section, in the event any such Bond shall have matured, and
no default has occurred which is then continuing in the
,oayment of the principal of , redemption premium, if any, or
interest on the Sond, the City may authorize the payment of
the same (without surrender thereof except in the case of a
damaged or mutilated Bond) Instead of issuing a replacement
Bond, provided security or indemnity is furnished as above
provaded in this Section
(d) Prior to the issuance of any replacement bond, the
Paying Agent/Registrar shall charge the owner of such Bond
with all legal, printing, and other expenses in connection
therewith Every replacement bond issued pursuant to the
provisions of this Section by virtue of the fact that any
Bond le lost, stolen, or destroyed shall. constitute a
contractual obligation of the City whether or not the lost,
stolen, or destroyed Bond shall be found at any time, or be
enforceable by anyone, and shall be entitled to all the
benefits of this Ordinance equally and proportionately with
any and all other Bonds duly issued under this Ordinance
(e) In accordance with Section 6 of Vernon' s Ann TeX
Civ St Art 717B-6, this Section of this Ordinance shall
constitute authority for the issuance of any such replace-
ment bond without necessity of further action by the govern-
ing body of the City or any other body or person, and the
duty of the replacement of such bonds is hereby authorized
and imposed upon the Paying Agent/Registrar, and the Paying
Agent/Registrar shall auChentIcate and deliver such bonds In
the form and manner and vath the effect, as provided in
Section 5(d) of this Ordinance for Bonds issued In conver-
sion and exchange for other Bonds.
20
10 (a) That saad bonds are hereby sold and shall be
dell(pred to Inter First Bank Dallas, R A B Associates
at a price of par and accrued interest to date of delivery,
plus a premium of 275 00
(b) That the City Manager of said City as hereby
authorized to have control of said bonds and all necessary
records and prpceedings pertaining to said bonds pending
their delivery and their investigation, examination and
approval by the Attorney General of the State of Texas, and
their registration by the Comptroller of Public Accounts of
the State of Texas Upon registration of said bonds, said
Comptroller of Public Accounts (or a deputy designated in
writing to act for said Comptroller) shall manually sign the
Comptroller's Registration Certificate prescribed herein to
be printed and endorsed an each bond, and the seal of said
comptroller shall be Impressed or printed, or lithographed
on each of saldbands.
11 It is hereby officially found and determined that
the meeting at which said bonds were authorized 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 Asul
Clv St Article 8252-17, as amended
12. That for the Interest scheduled to come due on the
bonds herein authorized on September 15, 1985, 05000 01
hereby appropriated from City funds lawful/Y avai/ebie for
such purpose a sufficient amount of money to pay said
Interest
13. That the elty covenants to and with the purchasers
of the bonds that it will make no use of the proceeds of the
bands at any tape throughout the term of this Issue of bonds
which, if such use had been reasonably enpected on the date
of delivery of the bonds to and payment for the bonds by the
purchasers, would have caused the bands to be arbitrage
bonds within the meaning of Section 103(c) of the Internal
Revenue Code of 1954, as amended, or any regulations or
rulings pertaining thereto, and by this covenant the City is
21
obligated to comply with the requirements of the aforesaid
Section 103(c) and all applicable and pertinent Department
of the Treasury regulations relating to arbitrage bonds. The
City further covenants that the proceeds of the bonds will
not otherwise be used directly or indirectly so as to cause
all or any part of the bonds to be or become arbitrage bonds
within the meaning of the aforesaid Section 103(c), or any
regulations or rulings pertaining thereto.
14. The fact that the contemplated use of Inc 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 requir-
ing 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 full force and effect from and after its
passage, it is accordingly so ordained.
15. That all ordinances and resolutions or parts
thereof 00 00001000 herewith are hereby repealed.
PASSED AND APPROvED tflle,2ega, of February, 1985.
Mayor, gxrpus Christi,
ATTEST:
OSP-F-R-A4
Acting City rirar.ty, of
Corpus Chris Texas
The foregoing ordinance was approved prior to passage
as to form and correctness this the 28th day of February,
1985.
01* 00 Corpus
Christn, 08058
22
TOE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI .
the undersigned, Acting 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 thereto) on
the 28th day of February, 1985, authorizing the issuance of
$13,330,000 of City of Corpus Christi, Texas General Im-
provement Bonds, Series 1985, which ordinance 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
Vernons Ann. Civ. St. Article 6252-17, as amended.
EXECUTED UNDER MY HAND AND SEAL of said City, this the
28th day of February, 1985.
104 City Se t of
Corpus Ca�i atr, Texas
(SEAL)
STATEMENT of INDEBTEDNESS
THE STATE OF TEXAS
COUNTY OF BUBOES
CITY OF CORPUS CHRISTI
I, the undersigned, Ulrector o£ Finance of the City of
Corpus Christi, Texas, do hereby certify that attached
hereto Is a true, full and correct statement of Indebtedness
of sold City of every character on the unc day 05141Ie ,
1085 as shown by the books and records of sard Crty on my
office.
WITNESS MY HAND AND SEAL of said Crty this the
ec'01F4C
City Corpus hristl, Texas
(SEAL)
6CBEDOIE OP OUPSTANOISE MST® DEBT
ACC080IBG TO SCHEDULED HA0OBIT111
F0104118 15, 1915
General Improvement Bonds, Series 1966-A 3.90%
1985-86 $ 135,000
1986-67 135.000
$ 270.000
General Improvement Bonin. Series 1967 4S. 4.105
1985-86 $ 200,000
1906-67 200,000
1947-66 200.000
5 600.000
General Improvement Bonds. Series 1968 4 501, 4 60%
1964-05 4 150,000
1965-66 150,000
1986-87 150,000
1982-88 • . 150.000
§ 600,000
General Improvement Bonds, Series 1969 5%, 5.30%, 5.40%, 1.30%
1984-65 $ 250,000
1985-86 250,000
1986-87 250,000
1982-88 250,000
1988-89 250,000
§ 1.250.000
General Improvement Bonds, Series 1970 6 50%, 6.60%, 6 70%, 6%
1984-85 $ 500,000
1985-86 500,000
$ 1,000,000
1016111•Improvement Bonds, Series 1971 4 505, 4 707, 4.605, 5S
1964-65 $ 200.000
1985-86 200,000
1986-87 200,000
1987-88 200,000
1988-89 250,000
1989-90 250,000
§ 1,300,000
General improvement Bonds, Series 1972 52, 5.20%. 5.25%, 4S
1965-96 $ 275,000
1966-87 275,000
1987-88 225,000
1988-89 275,000
1989-90 275,000
1990-91 275,000
1991-92 275,000
$ 1,925,000
LevelUpper College Bonds,e
8 s 1973 5 25S
1985-86 $ 100,000
1986-87 100,000
1987-68 100,000
$ 300,000
General Improvement Bo 1973 6%, 4.90%, 5.105, 5.20%, 43
as4 se
lag5_vs O.0on
1906-87 300.000
1987-96 300,000
1968-89 400,000
1989-90 LOO,ODO
1990-91 400,000
1991-92 400,000
1992-93 400,000
$ 3,200,000
General Improvement Bands. Berle¢ 1974 82. 5.402, 5.50%. 5.652, 5.702
1984-85 9 225,000
1905-86 225,000
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 k.
f$ 2.250,000
Tax 6 Revenue 'Certificates of Obligation, Series 1974-A 6%, 5.25%,
5.02, 5.600. 5.70%
1984-85 • $ 50,000
1985-86 50,000
1986-87 50,000
1987-88 50,000
1988-89 50,000
1989-90 50,000
1990-91 50.000
$ 350.000
ertlticates of Obligation. Series 1975 4%. 5%, 5.20%, 5.30%
1984-85 9 200,000
General Improvement Bonds, Series 1975 72, 5 50%, 5 75%, 62. 5%
1984-85 $ 400,000
1985-86 400,000
1986-87 400,000
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
$ 4,400,000
General Improvement BondaSeries 1976 4.75%, 4.85%, 5%
1984-85 $ 200,000
1985-06 . 200,000
1986-87 200.000
1987-88
1980-89 200,000
1989-90 200.000
1990-91 200,000
1991-92 200,000
1992-93 200,000
1993-94 200,000
1994-95 200,000
1995-96 200,000
$ 2,400,000
General improvement Bonds. Series 1977 4.502, 4 705, 4.90%. 5%
1984-05 $ 150,000
1985-86 150.000
1986-87 150,000
1987-88 150,000
152.000
1989-90 150,000
1990-91 150,000
1991-92 150,000
1992-93 150,000
1993-94 150.000
1994-95 150,000
1995-96 150,000
1996-97 150.000
$ 1,950,000
Certificates of Obligation, Series 1979 7.502, 6.252, 6.302, 6.40%,
6.50%, 6.60%, 6.755, 5.505
1985-86 $ 400,000
1986-87 375,000
1987-88 300,000
1988-89 300,000
1989-90 300,000
1990-91 300,000
1991-93 300,000
1992-93 300,000
1993-94 300,000
1994-95 300,000 t
1995-96 300,000
1996-97 300,000
1997-98 300,000
1998-99 300,000
1999-2000 300,000
$ 4,675,000
•
Series 1980 9.00%, 8.60%. 8 102, 8.302,
8.40S, 8.60%, 8160%, 8.75% Bonds,
890%, 7%
1985-86 • $ 400,000
1986-87 400,000
1987-88 400,00D
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
2000-01 400,000
$ 6,400,000
General improvement Bonds, Series 1981 12%, 11 75R. 108. 10.305,
10.507, 10.700, 10.802, 11R, 9.50%
1984-85 $ 350,000
1985-86 450,000
1986-87 450,000
1987-88 450,000
1988-89 450,000
1989-90 450,000
1990-91 450.000
1991-92 450,000
1992-93 450,000
1993-94 450,000
1994-95 450,000
1995-96 450,000
1996-97 450.000
1997-98 450,000
1990-99 450.000
1999-2000 450,000
2000-01 450,000
$ 7,550,000
General Improvement Bonds, Series 1982 10.50%, 10.402, 08, 8.20i,
8.402. 8.602, 8.152
1986-87
198-88
19888-89
1989-90
1990-91
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-2000
2000-01
2001-02
4 325,000
525.000
575,000
575,000
600,000
600,000
625,000
625,000
625,000
625,000
625,000
625,000
625,000
625,000
625,000
625,000
625,000
$ 10,075.000
1 -
General Improvement Bonds, Series 1983 9 505, 8,6258, 8.402, 8.50S,
8.702, 8.802, 8.908, 9%, 6 508
1984-85 $ 250,000
1985-86 375,000
1986-87 600,000
1987-88 600,000
1988-89 600,000
1989-90 600,000
1990-91 600,000
1991-92 600,000
1992-93 600,000
1993-94 600,000
1994-95• 600,000
1995-96 600,000
1996-97 600,000
1997-98 600,000
1998-99 600,000
1999-2000 600,000
2000-01 600,000
2001-02 600,000
2002-03 600,000
$ 10,825,000
General Improvement Bonds, Series 1984 9 50%, 9.20%, 9.70%, 8%
1984-85 6 250,000
1985-86 400,000
1906-87 500,000
1987-88 650,000
1988-89 650,000
1989-90 650,000
1990-91 650,000
1991-92 650,000
1992-93 650,000
1993-94
1994-95 650,000
1995-96 650,000
1996-97 650,000
1997-98 650,000
1998-99 700,000
1999-2000 700,000
2000-01 700,000
2001-02 700,000
2002-03 700,000
2003-04 700.000
$ 12,500,000
Total Bonded Debt $ 98,645.000
Total Cash and
orities in Interest
Sec
Redemption Fund as
of February 15, 1985
E 17,098 416
GENERAL CERTIFICATE
THE STATE OF TEXAS
COUNTY OF NuECES
CITY OF CORPUS CHRISTI )
We, the undersigned, hereby officially certify that we
are the Mayor, Acting City Secretary and Director of
Finance, respectively, of said City, and we further certify
as follows:
1. That said City is a duly incorporated Home Rule
City, having more than 5,000 inhabitants, operating and
existing under the Constitution and laws of the State of
Texas and the duly adopted Home Rule Charter of said City,
which Charter has not 50 0040862 or amended since August
11, 1984.
2. That no litigation of any nature has ever been
filed pertaining to, affecting or contesting: (a) the SCSI -
delivery, payment, security or validity of the pro-
posed City of Corpus Christi, Tex/. General ImProfement
Bonds, Series 1985, dated March 15, 1985, in the aggregate
principal amount of 013,330,000) (b) the authority of the
officers of said City to issue, execute and deliver said
bonds; or (0) the validity of the corporate existence, the
current Tax Rolls, or the Charter of said City; and that no
litigation is pending pertaining to, affecting or contesting
the boundaries of said City.
3. That on February 28, 1985, the date an Ordinance
was passed by said City Council authorizing the issuance of
said 113,550,000 of Bonds, and at the present time, the
following 0040001 1100 the 4010 0100014 or appointed and
qualified officials of said city:
Luther Jones, Mayer.,
Betty N. Turner, Mayor Pro -Tem,
Frank Mendez,
David Berlanga, Sr., :
Leo Guerrero,
Mary Pat Slavik, Councilmembers,
Joe McComb,
Welder Brown,
Dr. Charles W. Kennedy, :
Edward A. Martin, City Manager,
J. Bruce Aycock, City Attorney,
Juan Garza, Director 00 2000010,
Dorothy G. Zahn, Acting City Secretary.
4. That the currently effective ad valorem tax rolla
of said City are those for the year 1984, being the most
recently approved 000 00116 of sald Cxty, that sa, city has
caused the taxable property in said City to be assessed as
required by law; that the Board of Equalization of said City
has equalized and approved the valuation of taxable property
in said City for said year; that the tax assessor of said
City has duly verified the aforesaid tax rolls, and said
Board of Equalization has finally approved the same; and
upon which the annual ad valorem tax of said City actually
has been or will be levied (after deducting the amount of
all exemptions, if any, under Section 1-504), Section 1-f,
3500000 0-g, and Section 2(b) of Article 8 of the Texas
Constitution, and Chapter 11, Subchapter B, Property Tax
Code), according to the aforesaid tax rolls for said year,
as delivered to the Acting City Secretary of said City, and
£sally approved and recorded by the Crty Couscrl of hard
Cvty, is 56,8fi 1,994,953.88.
SIGNED AND SEALED this the 28th da •,'ebxuary, 1985.
ty of
of Corpus Chxr i, Texas Coipu- Chxiati, Texas
DI to o
Cit' of Carpu
(SEAL)
APPROVED AS TO FORM AND CORRECTNESS thrs 28th day of
FebrLary, 1985.
Cutty of CoxPyt.
OFFICIAL BID FORM
$13,330,000
CITY OF CORPUS CHRISTI, TEXAS
GENERAL IMPROVEMENT BONDS, SERIES 1985
The Guy of Carpus Chrnu February 28, 1985
Corpus Christi, Texas
Gendanen
Subject m the terms of your Obnal Nance of Sale and Official Statement, dated December 18, 1984 which
are made a pan of, proposal by references, we hereby submit the following bed for 513,330,000 City of
Carpus Chnsn, Texas General Imprmemem Bands, Senes 1985 dated March 15, 1985
Fo`ym dareoflegally
BondBonds, as liner..
ner.. in said OfienalhStatement, of
'Jay you r and accrued
interestery to us, plus premmmo for Bonds matunng
and beanng interest as follows
5180,000 March 15, 1986 /D,J % 8]05,000 March15 1996 10'ro
March 15,198)P 700 000 March 15 1997
500,000 March 15, 1988 I % 700,000 March 15, 1998 0
600,000 March 15, 1989 P 700 OW Aland 15, 1999
600,000 March 15, 1990 9 800 000 March 15, 2000 T%
700,000 March 15, 1991 800 000 March 15 2001 ii// %
March 15, 1992 �
700,0March 15, 1993 //0,00 3P 800 000 M 6 % 800000 March 15 2001 %
]00,000 Mash 15,1994 —G 800 000 hfareh I 15, 2004 a
700,000 hlarh 15, 1995 IO.S w 800 000 March 15, 2005 _ ‘19.°
Interest cost m accordance with the abme bid is
Grose Interest Cost s /¢,3/3,6So 0
Lae Pranmm 8 / 3i3 6242
Net Interest Con 6 N nJ'ao
Effective Interest Rate 9 a.{ "P6 w
Cashiers Check of the 2l 3 B k I -24a `r th t f 9_66600 which
represents our Good Fan. Deport (is attached hereto) or (has been made available to you prior to the open, of
this bid), and n submatted In accordance with the terms m set forth m the "Oficial Notice of Sale" Upon
delivery of the Bonds, stud cheek shall be returned to the Purchaser
The Imnal Bonds shall be registered m the name of KYKA7FRA 4Gs (Sy d ret \I g ) VYe will
affirm the MBank Corpus Chnsn, N A, P 0 Box 900, Corpus Chnsn, Texas 78403 We Paymg
Agen3'Reglarar, on forma to be provided by the Paymg Agent, Registrar, our re9tstrauon Inswtnam at least
.e business days poor to the date set for Int, Delivery We will not ask the Paymg Agent Registrar to accept
any gtion Inst n
Instructions after the five day ped
esagree m accept delnery of and make payment for the Bonds in tely asarlable funds at MBank
Corpus Chnsn, N A, Corpus Chrun, Texas, not later tCST,
94han 10 00 A hl , CST, on Apnl 1,1985, or thereafter on
the date the Bonds are tendert for dein,, pursuant to the terms set fan. In the Official Nonce of Sale
-yo %Inco -6 �.et JAr- ua1- J 7424. Call )0 4
511 J l�dld , Jia
4 �i4<eruel?.
ey 2', 4 lc3Ld,L �t �--
ACCEPTED by she City Council an sXet17 day ofJ
ATTEST
it), of Corpus Chrnn, Texas
BOND YEARS
515,330,000
CITY 00 CORPUS CHRISM, TEXAS
GENERAL IMPROVEMENT RONDS, SERIES 1985
DATED MARCH 15, 1985
DDE. MARCH 15
Y17364180 000 Bea
000
8801987
180 180 1986
1988 50 X000 1,7 2,]90 1988
1989 600,000 2,400 4,'80 1989
1990 600,000 3,000 7,780 1990
1991 700,0004,200 11,980 1991
1993 ]00000 900 16,880 1992
199 ]00,000 5,600 22,480 199,
00,000 6,300 28,]80
1995 700,000 7,000 35,'80 1995
1996 700,000 7,700 43,480 1996
1997 700,000 8,400 51,800 1997
1998 70,000 9,100 60,980 1998
1999 70,000 9800 51,00 1999
2000 12,000
2001 00,000 12,800 95,580 2001
2002 800,000 13,600 109,180 2002
200) 800,015 14,400 123,580 2003
2004 800,000 155.200 138,'00 2004
00,
2005 16,000 4,"00 205
Average ' OCnry 11 6 year,
Reaps is acknowledged on behalf of bidder of above described Good Faith Check this day of
1985
RF
$13,330,000
CITY OF CORPUS CHRISTI, TEXAS
GENERAL
LOBIIIGATION BFE2S
BONDS,
SERIES
RIES51985
SE
1. InterFlrst Bank Oa11as, N A. )IT.
2. Bank of America NT 1 SA
3. Texas Commerce Bank, N A. )MGRS.
4 E.F. Hutton & Company, Inc )
5. Chemical Bank N A
6. Southeast Bank Miami,
7. Texas American Bank/Ft. Worth, N A.
8 PaineWebber, Incorporated
9 hnE601108kCo., de& Hickman. Inc.
10. Wm
11. The Connecticut Bank & Trust Company
12 Marine Midland Bank, N A.
13.
14 Fmrstcan Tennesseeer BanktBank
Memphis
15 United Missouri Bank of Kansas City, N A
16. Morgan Keegan & Compaa
18. sterling, Graceny, Inc.
17 Bank of Oklahoma,
aMunicipal Securities Corp
19. Hutchinson,
kR.L El, Incompany
20. Tucker Anthony & Day,
21. First Charlotte Corporation
IN ASSOCIATION WITH
22 Harris Trust & Savings Bank )JT
23. The Northern Trust Company )
24. Clayton Brown & Associates, Inc. )MGRS.
25 Mellon Bank, N A.
UNDIVIDED ACCOUNT
2/13/85 OG
Corpus Christi, Texas
..20—day of 198f
TO THE MEMBERS OF THE CITY COURCIL
Corpus Christ., 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
s to consideration and votIng 'peon ordinances o re lotions at three
regular meetings, I/we, therefore, quest 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,
THE CIOF CORPUS CHRISTI, TEAS
Council Members
The above ordinance was passed bythe following vote
Luther Jones uA/�
Betty N. Turner
David Berlanga, Sr.
Welder Brown
Leo Guerrero
Dr. Charles W. Kennedy
Joe McComb
Frank Mendez
Mary Pat Slavik
18723