HomeMy WebLinkAbout19063 RES - 10/17/1985THE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI .
On this the 17th day of October, 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,
Dr. Jack Best,
Frank Mendez,
David Berlanga, Sr.,
Leo Guerrero,
Linda Strong,
Joe McComb,
Bill Pruet,
Mary Pat Slavik,
Edward A. Martin,
J. Bruce Aycock,
Juan Garza,
Armando Chapa,
with the following absent:
Mayor,
Mayor Pro -Tem,
. Councilmembers,
City Manager,
City Attorney,
Director of Finance,
City Secretary,
2. /tVdA 2A, Al
constituting a quorum, at which time the following among
other business was transacted:
P'}11. (Y1fILL,n) presented 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 Christi, Texas
October 17, 1985
"TO THE CITY COUNCIL
Corpus Christi, Texas
Gentlemen:
"The public importance and pressing need for the
calling of certain of the City's Series 1981 General Im-
provement Bonds for redemption creates 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 calling certain bonds for redemption prior to
scheduled maturities as an emergency measure. You will
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
Mayor"
19063 MICROFILMED
Councilmember Leo Guerrero
•
moved that the resolu-
tion be adopted finally. The motion was seconded by Coun-
cilmember Jack Best . The motion was carried by the
following vote:
AYES: All present voted Aye, except Council Member Mary Pat Slavik
voted nay.
NAYS: Council Member Mary Pat Slavik.
The. Mayor announced that the resolution had been
adopted. The resolution is as follows:
RESOLUTION
CALLING CERTAIN BONDS FOR REDEMPTION
PRIOR TO SCHEDULED MATURITIES
THE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI
WHEREAS, the City of Corpus Christi has outstanding its
City of Corpus Christi, Texas General Improvement Bonds,
Series 1981 (the "Series 1981 Bonds")
principal amount of $7,200,000; and
WHEREAS, concurrently herewith the
are being refunded; and
WHEREAS, it has been determined that certain of such
Series 1981 Bonds shall be called for redemption prior to
their stated maturities, such bonds being as follows:
in the
aggregate
Series 1981 Bonds
BONDS NUMBERS MATURITY DATE AMOUNT
701 through 790 July 15, 1992 $ 450,000
791 through 880 July 15, 1993 450,000
881 through 970 July 15, 1994 450,000
971 through 1,060 July 15, 1995 450,000
1,061 through 1,150 July 15, 1996 450,000
1,151 through 1,240 July 15, 1997 450,000
1,241 through 1,330 July 15, 1998 450,000
1,331 through 1,420 July 15, 1999 450,000
1,421 through 1,510 July 15, 2000 450,000
1,511 through 1,600 July 15, 2001 450,000
TOTAL $4,500,000
WHEREAS, it is in order for the City Council to author-
ize the publication of notice of redemption for calling 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 City is hereby authorized and
directed to cause to be published, in the manner required by
the ordinance authorizing the issuance of the Series 1981
Bonds, a written notice of redemption substantially in the
form attached to this resolution, and such bonds as de-
scribed in such notice shall be redeemed on July 15, 1991
for the principal amount thereof, plus a premium of 2-1/2%
of such principal amount.
•
2. Such notice of such redemption shall be published
at least once in a financial 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, it is accordingly so
ordained.
ADOPTED AND APPROVED this 17th day of October, 1985.
fAe
r
Ma -or, ity of Corpus Christi,
Texas
(SEAL)
ATTEST:
Secretary, City bf Corpus
Christi, Texas
The foregoing resolution was approved prior to adoption
as to form and correctness this the 17th day of October,
1985.
it Attorney,City of Corpus
Christi, ffexas
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 17th
day of October, 1985, calling certain bonds of City of
Corpus Christi, Texas General Improvement 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
17th day of October, 1985.
City Secretary, City of
Corpus Christi, Texas
(SEAL)
•
Corpus Christi, Texas
day of L%J_J , 198S—
TO
98S
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,
MAYOR
Council Members
!
HE CIT OF CORPUS CHRISTI, TEXAS
The above ordinance was passed by the following vote:
Luther Jones
Dr. Jack Best
David Berlanga, Sr.
Leo Guerrero
Joe McComb.
Frank Mendez
Bill Pruet
Mary Pat Slavik
Linda Strong