HomeMy WebLinkAbout020491 ORD - 10/11/1988AN ORDINANCE
AMENDING SECTION 49-21 OF THE CITY CODE OF ORDINANCES TO
PROVIDE FOR A MONTHLY INSTALLMENT PAYMENT METHOD OR AN
ANNUAL INSTALLMENT PAYMENT METHOD FOR STREET IMPROVEMENTS
ASSESSED COSTS.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS:
SECTION 1. That Section 49-21, Required improvements; policy on
assessments, of Article II, Street, Sidewalk, Curb and Gutter, and Driveway
Construction, of the City Code of Ordinances is hereby amended to read as
follows:
D. Payment of Assessments - The cost assessed against abutting
property may be paid by one of the following methods.
(1) Any property owner against whom and against whose property
an assessment has been levied may pay the whole assessment
chargeable to him without interest within thirty (30) days
after completion and acceptance by the City of Corpus
Christi of said improvements, or
(2) The assessment may be paid in monthly installments not to
exceed one hundred twenty (120) in number, the first of
which shall be payable within thirty (30) days from
completion and acceptance of the said improvements by the
City of Corpus Christi, and one installment each month
thereafter until paid, together with interest thereon, which
rate shall be established by the provisions of
subparagraph (4) below, or
(3)
The assessment may be paid in annual installments not to
exceed ten (10) in number, the first of which shall be
payable within thirty (30) daysfrom completion and
acceptance of the said improvements by the City of Corpus
Christi and one installment each year thereafter until paid,
together with interest thereon, which rate shall be
established by the provisions of subparagraph (4) below,
(4) The rate of interest for assessment accounts where due shall
be the greater of (a) eight percent (8%) per annum or (b)
the interest rate paid by the City on its most recently
issued general obligation bonds, with the provision that any
of the said installments may be paid at any time before
maturity by the payment of the principal and accrued
interest thereon.
207RP032.ord
20491 MICROFILMEn
(5) If the owner chooses to pay the assessment in installments,
such installments must be paid timely.
Should the property owner make default in the punctual payment of said
indebtedness or any part thereof, either principal or interest, as the same may
become due and payable, the whole amount of said indebtedness then remaining
unpaid shall, at the option of the City, immediately mature and become payable,
without notice, demand or presentment for payment to owner.
For assessment payment and interest information on qualifying low
income residentially used properties in Community Development Block Grant
projects, refer to subsection (CII) herein.
207RP032.ord
That the foregoing ordinance
second reading on this the ,
following vote:
Betty N. Turner
David Berlanga, Sr.
Leo Guerrero
Clif Moss
was
read for
day of
first time and passed to its
19 gg' by the
Bill Pruet
Mary Rhodes
Frank Schwing, Jr.
Mary Pat Slavik
Linda Strong
That the foregoing ordinance was read for e second, time and passed to its
third reading on this the � day of Lap -CAW 19 g g by the
following vote:
Betty N. Turner
David Berlanga, Sr.
Leo Guerrero
Clif Moss
Bill Pruet
Mary Rhodes
Frank Schwing, Jr.
Mary Pat Slavik
Linda Strong
at„
attztti
That the foregoing ordin ce wa r�e�d for the third time and passed finally on
this the if day of �� %L� 19g , by the following vote:
Betty N. Turner
David Berlanga, Sr.
Leo Guerrero
Clif Moss
Bill Pruet
Mary Rhodes
Frank Schwing, Jr.
Mary Pat Slavik
Linda Strong
PASSED AND APPROVED, this the day of (Oei 042A)
ATT T:
{E`
City Secretary
APPROVED:
�.;1. DAY OF
4-1-77 , 1 9,6/:
HAL GEORGIITY ATTORN
By
A 1st.nt City Attorney
99.044.01
at/k
0/{/-f,
attAeLt-,
, 19 Yg .
THE CITY OF CORPUS CHRISTI, TEXAS
PA:iLISHER'S AFFIDAVIT
State of Texas, 1 City of Corpus Christi
County of Nueces 1 ss: Ad # 52449
Before me, the undersigned, a Notary Public, this day personally came
Deanne D. Palmer, who being first duly sworn, according to law, says
that she is a Senior Accounting Clerk of the Corpus Christi Caller -
'Times, a daily newspaper published at Corpus Christi in said County
and State, generally circulated in Aransas, Bee, Brooks, Cameron,
Duval, Hidalgo, Jim Hogg, Jim Wells, Karnes,• Kenedy, Kleberg, Live
Oak, Refugio, San Patricia, Nueces, and Victoria Counties, and that
the publication of "NOTICE OF PASSAGE OF ORDINANCE #20491 AMENDING"
of which the annexed is a true copy, was published in the Corpus
Christi Caller -Times on the 17th day of October 1988, and each
day thereafter for zero consecutive day(s).
one Times
$ 29.40
Subscr.:A�'����
4,740,w1/'
Senior Accounting Clerk
and sworc ^ o beforeme this 19th day of October, 1988.
,~.
/
Anna Garza
Notary Public, Nueces County, Texas
My commission expires on 8.25.92