HomeMy WebLinkAbout19509 ORD - 09/30/1986AN ORDINANCE
RESCINDING ORDINANCE 17195, ESTABLISHING A RETAINAGE ACCOUNT
IN EACH BOND FUND, AND PROVIDING FOR THE PAYMENT OF INTEREST
AT THE QUOTED RATE FOR NEGOTIABLE ORDER OF WITHDRAWAL (NOW)
ACCOUNTS FROM THE CITY'S MAIN DEPOSITORY BANK; AND DECLARING
AN EMERGENCY.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS:
SECTION 1. That Ordinance No. 17195 is hereby rescinded and that a
construction contract retainage account be established in each Bond Fund for the
purpose of accounting for retainage withheld by the City on public construction
contracts pursuant to Article 6252-5b of Vernon's Annotated Texas Statutes, as
amended. Said retainage accounts shall pay interest to the contractor at the
quoted rate for Negotiable Order of Withdrawal (NOW) accounts from the City's
main depository bank.
SECTION 2. That upon written request of the Mayor or five Council
members, copy attached, to find and declare an emergency due to the need for
efficient and effective administration of City affairs, such finding of an
emergency is made and declared requiring suspension of the Charter rule as to
consideration and voting upon ordinances or resolutions at three regular
meetings so that this ordinance is passed and shall take effect upon first
reading as an emergency measure this the 30th day of September, 1986.
ATTEST:
y Secretary MAYO
APPROVED: 23 DAY OF SEPTEMBER, 1986
HAL GEORGE, CITY ATTORNEY
By
Ass
tant City At,rney
09P.032.01
THE CIT OF CORPUS CHRISTI, TEXAS
19509 MICROFILMED
Corpus Christi, Te as
day of
198 S7
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,
Council Members
MAYOR
THE CIT OF CORPUS CHRISTI, TEXAS
The above ordinance was passe • 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
99.045.01
19509