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Home My WebLink About18836 RES - 05/16/1985THE STATE OF TEXAS COUNTY OP NUECES CITY OF CORPUS CHRISTI On this the 16th day of May, ISS5, 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, Mayor, Dr. Jack Best, Mayor Pro -Tem, Frank Mendez, David Berlanga, Sr., Leo Guerrero, Linda Strong, Councilmembers, Joe McComb, 0111 Pruet, Mary Pat Slavik, Edward A. Martin, City Marmger, J. Bruce Aycock, City Attorney, Juan Garza, Director of Finance, Armando Chaps, City Secretary, with the following absent: NONE constituting a quorum, at which 001,0 0801 following among other business was transacted. City Manager Edward msrtinpresented for the consideration of the Council a resolution. The resolution was read by the City Secretary. The Mayor presented to the Council a communica- tion in writing pertaining to said proposed resolution, as follows Corpus Chrlstn, '"" eny 16, 1985 "TO THE CITY COUNCIL Corpus Christi, Texas Gentlemen "The public importance and pressing need for the issuance of refunding bonds for refunding of the City, Waterworks Revenue Bonds to facilitate further financing for permanent imprOvements creates an emergency and an impera- tive 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 calling certain bonds for redemption prior to scheduled maturities as an emergency measure. You will please consider this request in connection with the resolution which is to be Introduced for adoption by the City Council on the sub,ect. Yours very truly, /s/ Luther Jones 18836 MICROFILMED Councilmember Leo Guerrero moved that the Charter 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 of the resolution. The motl.n was seconded by Councilmember Frank 1.b.vr . The motion was carried by an unanimous vote by the City Council, AYES. All present voted Aye. NAYS: None. Councilmember Bill Pruet moved that the resolu- Won be adopted finally. The motion was seconded by Coun- oilmember Mary at SlClIk , The motion was carried by the following vote: AYES. All present voted Aye. NAYS: None. The Mayor announced that the resolution had been adopted. The resolution 3, as follows: RESOLUTION CALLING CERTAIN BONDS FOR REDEMPTION PRIOR TO SCHEDULED MATURITIES STATETHE TEXAS COUNTY OF NUECES CITY OF CORPUS CHRISTI WHEREAS, the C1ty of Corpus Christi has outstanding Its Series 1981 City of Corpus Christi, Texas First Lien Water- works System Revenue Bonds (the "Series 1981 Bonds.) In the aggregate princlpal amount of $24,350,000; and WHEREAS, concurrently herewith the Series 1981 Bonds are being refunded, and WHEREAS, It has been determined that certain of such Series 1991 Bonds shall be called for redemption prior to their stated maturities, such bonds bedng as follows: BONDS NUMBERS MATURITY DATE AMOUNT 721 through 1,060 1,061 through 1,420 through 1,800 1,801 through 2,200 2,201 through 2,600 2,601 through 3,000 3,001 through 3,400 3,401 through 3,800 3,801 through 4,200 4,201 through 4,310 July 10, 1992 $ 1,700,000 July 10, 1993 1,800,000 July 10, 1994 1,900,000 July 10, 1995 2,000,000 July 10, 1996 2,000,000 July 10, 1997 2,000,000 July 10, 1998 2,000,000 July 10, 1999 2,000,000 July 10, 2000 2,000,000 July 10, 2001 550,000 TOTAL $17,950,000 WHEREAS, 1t 1s 1n order for the City Counc11 to author- ize the publication of notice of redemption for calla, such bonds to be redeemed prior to their scheduled maturities, NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS. 1. That the Mayor of the Caty is hereby authorized and directed to cause to be published, an the manner required by the ordinance authorizing the Issuance of the Series 1981 Bonds, a written notice of redemption substant0a11y in the form attached to this resolution, and such bonds as de- scribed in such notice shall be redeemed on July 10, 1991. 2. Such not1ce of such redemption shall be published at least once In a £anancaal publication published In The City of New York, New York, no less than thirty days prior to the date fixed for redemption. 3. That the fact that the contemplated issuance of such 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 resolution take effect from and after its adoption, at is accordingly so ordained. ADOPTED AND APPROVED this 16th day of May, 1985. 34greE:Corpus Christi, MAL) ATTEST: aCr-dp-- "t' =1:tnelesa:Y " The foregoing resolution was approved prior to adoption as to form and correctness this the /day of May, 1985. 2. 614,a City Attorney, Ity of corpus Christi, Texas NOTICE OF REDEMPTION CITY OF CORPUS CHRISTI, TEXAS FIRST LIEN WATERWORKS SYSTEM REVENUE BONDS, SERIES 1981 NOTICE IS HEREBY GIVEN that the City of Corpus Christy, Texas has calledfor redemption on the date shown below the outstanding Bonds of the City described as follows City of Corpus Christi, Texas First Lien Waterworks System Revenue Bonds, Series 1981, dated July 10, 1981, Bond numbers 021 through 4310, both Inclusive, aggre- gatIng 517,950,000, redemption date: JULY 10, 1991 NOTICE IS FURTHER GIVEN that due and proper arrange- ments have been made for providing MBank Corpus Christi, Corpus Chrlstl,• 0x(formerly Corpus Chrlstl York, or The Chase Manhattan Bank, N , New York, New rk onr(Harris T and Savings Bank, Chicago, Illd- • the places of payment of said Bonds called for redemp- onal 100 tion, 6 0100 funds sufficient to pay the principal amount of aid Bonds and the interest thereon to the redemption date, plus a premium Of 2-1/20. In the event said Bonds, or any of them, are not presented for payment by the date fixed for their redemption, they shall not thereafter bear interest. THIS NOTICE Is lued and given pursuant to the redemp- • n provisions set forth In the ordinance authorizing the Issuance of said Bonds, In accordance with the recitals and provisions of said Bonds and pursuant to authority of a solution adopted by the City Council of the City of Corpus Christi on the 16th day of May, 1985. WITNESS MY OFFICIAL SIGNATURE, this the 16th day Of May, 1985. /s/ Luther J n e Mayor, City of Corpus Christi, Texas THE STATE OF TEXAS COUNTY OF NUECBS 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 16th day of May, 1985, calling certain bonds of City of Corpus Christi, Texas First Lien Waterworks System Revenue Bonds, Series 1981 for redemption, 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 16th day of May, 1,85. (SEAL) Corpus Christi, T� ISL day of 191r- TO 91 TO THE MEMBERS OF THE CITY COUNCIL Corpus Christi, Texas Far the re et forth in the emergency clause of the foregoing ordinance or resolution, an emergency exists requiring suspension of the Charter rule as to c nstderatton and voting upon ordinances or resolutions at three regulara tings; 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, Council Members MAYOR THE CITY OF CORPUS CHRISTI, TEXAS The above ordinance was passed ,y the following vote: Luther Jones Betty N Turner David Berlanga, Sr. Welder Brawn Leo Guerrero Or. Charles W. Kennedy Joe McComb Frank Mendez Mary Pat Slavik 18836