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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