HomeMy WebLinkAbout021025 RES - 11/15/1990THE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI
the
the
On this the 15th day of November, 1990, the City Council of
City of Corpus Christi, Texas convened in Special Meeting, with
following members of said Council present, to -wit:
Betty Turner
Clif Moss,
Frank Schwing,
Leo Guerrero,
Edward A. Martin,
Joe McComb,
Tom Hunt,
Mary Rhodes,
Cezar Galindo,
Juan Garza,
Hal George
Jorge G. Garza,
Armando Chapa,
Mayor
Councilmembers,
City Manager,
City Attorney,
Director of Finance,
City Secretary
with the following absent: /VC h/K
constituting a quorum, at which time the following among other
business was transacted:
City Manager Juan Garza presented for the consideration of the
Council a resolution.M
Councilmember / iii i/ A/ moved that the resolution
be passed. The motion was seconded by Councilmember se/4147/A/4
The motion was carried by the following vote.
AYES: All members of the City Council shown
present above voted "Aye", except
GAS/fIDo, w7, KifcQ
NAYS: THK E L- .
The Mayor announced that the resolution had been passed. The
ordinance is as follows:
MICRJ*JLMED
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 Waterworks System Revenue Refunding Bonds,
Series 1985 (the "Series 1985 Bonds") in the aggregate principal
amount of $24,335,000; and
WHEREAS, concurrently herewith the Series 1985 Bonds are being
refunded; and
WHEREAS, it has been determined that certain of such Series
1985 Bonds shall be called for redemption prior to their stated
maturities, such bonds being as follows:
MATURITY DATES AMOUNT
July 10, 1996
July 10, 1997
July 10, 1998
July 10, 1999
July 10, 2002
$ 2,125,000
2,085,000
2,050,000
2,010,000
5,800.000
TOTAL $14,070,000
WHEREAS, it is in order for the City Council to authorize the
giving 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 City Secretary of the City is hereby authorized
and directed to cause the paying agent for the Series 1985 Bonds
to mail, in the manner required by the ordinance authorizing the
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issuance of the Series 1985 Bonds, a written notice of redemption
substantially in the form attached to this resolution, and such
bonds as described in such notice shall be redeemed on July 10,
1995.
2. 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 requiring 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 15th day f Novembers 1990.
Mayor, Ci tS of
(SEAL)
ATTEST:
C Secretary, City of Corpus
Christi, Texas
Corpus Christi
Texas
The foregoing resolution was approved prior to adoption as to
form and is ectnnesss this the 15th day of November, 1990.
City Attorney,el of Corpus
Christi, Texas
1
-2-
NOTICE OF REDEMPTION
(Name and Address of
Registered Owner)
CITY OF CORPUS CHRISTI, TEXAS
WATERWORKS SYSTEM REVENUE REFUNDING BONDS,
SERIES 1985
THE REGISTRATION BOOKS maintained by Ameritrust Texas National
Association, the paying agent/registrar for the captioned Bonds
(the "Paying Agent/Registrar"), show that as of the date of this
letter, you are the registered owner of Bond Nos. , of the
captioned bond issue, aggregating $ in principal
amount.
NOTICE IS HEREBY GIVEN that the City of Corpus Christi, Texas
has called for redemption on the date shown below the outstanding
Bonds of the City described as follows:
City of Corpus Christi, Texas Waterworks System Revenue
Refunding Bonds, Series 1985, dated May 10, 1985, Bonds
maturing on July 10 in the years 1996 through 2002, both
inclusive, aggregating $14,070,000; redemption date:
JULY 10, 1995
NOTICE IS FURTHER GIVEN that due and proper arrangements have
been made for providing the Paying Agent/Registrar with funds
sufficient to pay the principal amount of said Bonds and the
interest thereon to the redemption date, plus a premium of 2%. 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 issued and given pursuant to the redemption
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 Resolution adopted by the City
Council of the City of Corpus Christi on the 15th day of November,
1990.
AMERITRUST TEXAS NATIONAL ASSOCIATION
Dated: By
Title:
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 15th day of November, 1990, calling
certain bonds of City of Corpus Christi, Texas Waterworks System
Revenue Refunding Bonds, Series 1985 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 15th
day of November, 1990.
(SEAL)
CYty of
Texas
Corpus Christi, Texas
/5— H day of All`?(3E/'< , 19 76
The above resolution was passedby the following vote:
Betty N. Turner a( \Q
Cezar Galindo 1��r� o"""
Leo Guerrero
Tom Hunt LAD
Edward A. Martin
Joe McComb l-1��(
Clif Moss
Mary Rhodes
Frank Schwing, Jr. 0(1,
066