HomeMy WebLinkAbout023240 ORD - 03/10/1998ORDINANCE NO. 0( 3240
ORDINANCE BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS,
PROVIDING FOR THE ISSUANCE OF $9,825,000 CITY OF CORPUS CHRISTI,
TEXAS, COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION,
SERIES 1998, AND ORDAINING OTHER MATTERS RELATING TO THE SUBJECT;
AND DECLARING AN EMERGENCY
WHEREAS, on the 17th day of February, 1998, the City Council of said City passed a
resolution authorizing and directing notice of its intention to issue the Certificates of Obligation
herein authorized to be issued, to be published in a newspaper as required by Section 271.049 of the
Texas Local Government Code; and
WHEREAS, said notice was published on February 22, 1998 and March 1, 1998 in the
Corpus ChristiCaller-Times, a "newspaper" as described in Section 2051.044, Texas Government
Code, as amended, all as required by Section 271.049 of the Texas Local Government Code; and
WHEREAS, no petition, signed by 5% of the qualified electors of said City as permitted by
said Section 271.049 of the Texas Local Government Code protesting the issuance of such
Certificates of Obligation, has been filed with the City; and
WHEREAS, the Certificates of Obligation hereinafter authorized are to be issued and
delivered pursuant to Subchapter C of Chapter 271 of the Texas Local Government Code;
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS:
Section 1. AUTHORIZATION OF CERTIFICATES OF OBLIGATION. That the
Certificates of Obligation to be issued by the City of Corpus Christi (the "City" or the "Issuer"),
designated the "City of Corpus Christi, Texas, Combination Tax and Revenue Certificates of
Obligation, Series 1998", are hereby authorized to be issued and delivered in the principal amount
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of $9,825,000, for the purpose of providing part of the funds for paying contractual obligations to
be incurred by the City, to -wit: the acquisition and installation of a central computer information
system for use by the various municipal departments of the City, and the payment of fiscal,
engineering and legal fees incurred in connection therewith.
Section 2. DATE, DENOMINATIONS, NUMBERS AND MATURITIES. That said
Certificates of Obligation shall initially be issued, sold and delivered hereunder as fully registered
certificates, without interest coupons, dated March 1, 1998, in the respective denominations and
principal amounts hereinafter stated, numbered consecutively from R-1 upward, payable to the
respective initial registered owners thereof (as designated in Section 17 hereof), or to the registered
assignee or assignees of said certificates or any portion or portions thereof (in each case, the
"Registered Owner"), and said certificates shall mature and be payable on March 1 in the years and
amounts as set forth below, to -wit:
YEARS AMOUNTS(S) YEARS AMOUNTS(S)
1999 200,000 2004 1,175,000
2000 400,000 2005 1,225,000
2001 600,000 2006 1,285,000
2002 1,075,000 2007 1,340,000
2003 1,125,000 2008 1,400,000
The term "Certificates" as used in this Ordinance shall mean and include collectively the Certificates
of Obligation initially issued and delivered pursuant to this Ordinance and all substitute Certificates
of Obligation exchanged therefor, as well as all other substitute Certificates of Obligation and
replacement Certificates of Obligation issued pursuant hereto, and the term "Certificate" shall mean
any of the Certificates.
Section 3. REDEMPTION. (a) That the City reserves the right to redeem the Certificates
maturing on or after March 1, 2004, in whole or in part, on March 1, 2003, or on any interest
payment date thereafter, at a redemption price equal to the principal amount thereof and accrued
interest thereon to the date fixed for redemption. The years of maturity of the Certificates called for
redemption at the option of the City prior to stated maturity shall be selected by the City. The
Certificates or portions thereof redeemed within a maturity shall be selected at random and by lot
by the Paying Agent/Registrar.
(b) At least 30 days prior to the date fixed for any such redemption, (i) a written notice of
such redemption shall be given to the registered owner of each Certificate or a portion thereof being
called for redemption by depositing such notice in the United States mail, first-class postage prepaid,
in the name of the City and at the City's expense addressed to each such registered owner at his
address shown on the registration books of the Paying Agent/Registrar and (ii) notice of such
redemption shall be published one (1) time in a financial journal or publication of general circulation
in the United States of America carrying as a regular feature notices of municipal bonds called for
redemption; provided, however, that the failure to send, mail, or receive such notice described in (i)
above, or any defect therein or in the sending or mailing thereof, shall not affect the validity or
effectiveness of the proceedings for the redemption of any Certificate, and it is hereby specifically
provided that the publication of notice described in (ii) above shall be the only notice actually
required in connection with or as a prerequisite to the redemption of any Certificates. By the date
fixed for any such redemption due provision shall be made by the City with the Paying
Agent/Registrar for the payment of the required redemption price for the Certificates or the portions
thereof which are to be so redeemed, plus accrued interest thereon to the date fixed for redemption.
If such notice of redemption is given, and if due provision for such payment is made, all as
provided above, the Certificates, or the portions thereof, which are to be so redeemed, thereby
automatically shall be redeemed prior to their scheduled maturities, and shall not bear interest after
the date fixed for their redemption, and shall not be regarded as being outstanding except for the
right of the registered owner to receive the redemption price plus accrued interest to the date fixed
for redemption from the Paying Agent/Registrar out of the funds provided for such payment. The
Paying Agent/Registrar shall record in the registration books all such redemptions of principal of
the Certificates or any portion thereof. If a portion of any Certificate shall be redeemed a substitute
Certificate or Certificates having the same maturity date, bearing interest at the same rate, in any
denomination or denominations in any integral multiple of $5,000, at the written request of the
registered owner, equal to the unredeemed portion thereof, will be issued to the registered owner
upon the surrender thereof for cancellation, at the expense of the City, all as provided in this Ordi-
nance.
Section 4. INTEREST. That the Certificates shall bear interest from the date specified in
the FORM OF CERTIFICATE set forth in this Ordinance to their respective dates of maturity or
redemption prior to maturity at the following rates per annum:
maturities 1999, 6.25%
maturities 2000, 6.25%
maturities 2001, 6.25%
maturities 2002, 6.25%
maturities 2003, 5.00%
maturities 2004, 4.25%
maturities 2005, 4.40%
maturities 2006, 4.50%
maturities 2007, 4.50%
maturities 2008, 4.50%
Said interest shall be payable in the manner provided and on the dates stated in the FORM OF
CERTIFICATE set forth in this Ordinance.
Section 5. CHARACTERISTICS OF THE CERTIFICATES. (a) The City shall keep
or cause to be kept at the corporate trust office in Austin, Texas (the "Designated Trust Office") of
Chase Bank of Texas, National Association (the "Paying Agent/Registrar"), or such other bank,
trust company, financial institution, or other agency named in accordance with the provisions of (g)
of this Section hereof, books or records of the registration and transfer of the Certificates (the
"Registration Books"), and the City hereby appoints the Paying Agent/Registrar as its registrar and
transfer agent to keep such books or records and make such transfers and registrations under such
reasonable regulations as the City and Paying Agent/Registrar may prescribe; and the Paying
Agent/Registrar shall make such transfers and registrations as herein provided. The City Manager
or the designee thereof is hereby authorized to execute a "Paying Agent/Registrar Agreement" in
such form as is approved by the City Attorney. It shall be the duty of the Paying Agent/Registrar
to obtain from the registered owner and record in the Registration Books the address of such regis-
tered owner of each certificate to which payments with respect to the Certificates shall be mailed,
as herein provided. The City or its designee shall have the right to inspect the Registration Books
during regular business hours of the Paying Agent/Registrar, but otherwise the Paying Agent/ -
Registrar shall keep the Registration Books confidential and, unless otherwise required by law, shall
not permit their inspection by any other entity. Registration of each Certificate may be transferred
in the Registration Books only upon presentation and surrender of such certificate to the Paying
Agent/Registrar at the Designated Trust Office for transfer of registration and cancellation, together
with proper written instruments of assignment, in form and with guarantee of signatures satisfactory
to the Paying Agent/Registrar, evidencing the assignment of such certificate, or any portion thereof
in any integral multiple of $5,000 denomination to the assignee or assignees thereof, and the right
of such assignee or assignees to have such certificate or any such portion thereof registered in the
name of such assignee or assignees. Upon the assignment and transfer of any Certificate or any
portion thereof, a new substitute certificate or certificates shall be issued in exchange therefor in the
manner herein provided.
(b) The entity in whose name any Certificate shall be registered in the Registration Books
at any time shall be treated as the absolute owner thereof for all purposes of this Ordinance, whether
or not such certificate shall be overdue, and the City and the Paying Agent/Registrar shall not be
affected by any notice to the contrary; and payment of, or on account of, the principal of, premium,
if any, and interest on any such certificate shall be made only to such registered owner. All such
payments shall be valid and effectual to satisfy and discharge the liability upon such certificate to
the extent of the sum or sums so paid.
(c) The City hereby further appoints the Paying Agent/Registrar to act as the paying agent
for paying the principal of and interest on the Certificates, and to act as its agent to exchange or
replace Certificates, all as provided in this Ordinance. The Paying Agent/Registrar shall keep proper
records of all payments made by the City and the Paying Agent/Registrar with respect to the
Certificates, and of all exchanges of such certificates, and all replacements of such certificates, as
provided in this Ordinance.
(d) Each Certificate may be exchanged for fully registered certificates in the manner set forth
herein. Each certificate issued and delivered pursuant to this Ordinance, to the extent of the unre-
deemed principal amount thereof, may, upon surrender of such certificate at the Designated Trust
Office of the Paying Agent/Registrar, together with a written request therefor duly executed by the
registered owner or the assignee or assignees thereof, or its or their duly authorized attorneys or
representatives, with guarantee of signatures satisfactory to the Paying Agent/Registrar, at the option
of the registered owner or such assignee or assignees, as appropriate, be exchanged for fully regis-
tered certificates, without interest coupons, in the form prescribed in the FORM OF CERTIFICATE
set forth in this Ordinance, in the denomination of $5,000, or any integral multiple thereof (subject
to the requirement hereinafter stated that each substitute certificate shall have a single stated maturity
date), as requested in writing by such registered owner or such assignee or assignees, in an aggregate
principal amount equal to the unredeemed principal amount of any Certificate or Certificates so sur-
rendered, and payable to the appropriate registered owner, assignee, or assignees, as the case may
be. If a portion of any Certificate shall be redeemed prior to its scheduled maturity as provided
herein, a substitute certificate or certificates having the same maturity date, bearing interest at the
same rate, in the denomination or denominations of any integral multiple of $5,000 at the request
of the registered owner, and in an aggregate principal amount equal to the unredeemed portion
thereof, will be issued to the registered owner upon surrender thereof for cancellation. If any
Certificate or portion thereof is assigned and transferred, each certificate issued in exchange therefor
shall have the same maturity date and bear interest at the same rate as the certificate for which it is
being exchanged. Each substitute certificate shall bear a letter and/or number to distinguish it from
each other certificate. The Paying Agent/Registrar shall exchange or replace Certificates as provided
herein, and each fully registered certificate or certificates delivered in exchange for or replacement
of any Certificate or portion thereof as permitted or required by any provision of this Ordinance shall
constitute one of the Certificates for all purposes of this Ordinance, and may again be exchanged or
replaced. It is specifically provided, however, that any Certificate delivered in exchange for or
replacement of another Certificate prior to the first scheduled interest payment date on the
Certificates (as stated on the face thereof) shall be dated the same date as such Certificate, but each
substitute certificate so delivered on or after such first scheduled interest payment date shall be dated
as of the interest payment date preceding the date on which such substitute certificate is delivered,
unless such substitute certificate is delivered on an interest payment date, in which case it shall be
dated as of such date of delivery; provided, however, that if at the time of delivery of any substitute
certificate the interest on the Certificate for which it is being exchanged has not been paid, then such
substitute certificate shall be dated as of the date to which such interest has been paid in full. On
each substitute certificate issued in exchange for or replacement of any Certificate or Certificates
issued under this Ordinance there shall be printed thereon a Paying Agent/Registrar's Authentication
Certificate, in the form hereinafter set forth. An authorized representative of the Paying Agent/ -
Registrar shall, before the delivery of any such substitute certificate, date such substitute certificate
in the manner set forth above, and manually sign and date such Authentication Certificate, and no
such substitute certificate shall be deemed to be issued or outstanding unless such Authentication
Certificate is so executed. The Paying Agent/Registrar promptly shall cancel all Certificates
surrendered for exchange or replacement. No additional ordinances, orders, or resolutions need be
passed or adopted by the City Council or any other body or person so as to accomplish the foregoing
exchange or replacement of any Certificate or portion thereof, and the Paying Agent/Registrar shall
provide for the printing, execution, and delivery of the substitute certificates in the manner pres-
cribed herein, and said certificates shall be of type composition printed on paper with lithographed
or steel engraved borders of customary weight and strength. Pursuant to Article 717k-6, V.A.T.C.S.,
and particularly Section 6 thereof, the duty of exchange or replacement of any Certificates as
aforesaid is hereby imposed upon the Paying Agent/Registrar, and, upon the execution of said
Paying Agent/Registrar's Authentication Certificate, the exchanged or replaced certificate shall be
valid, incontestable, and enforceable in the same manner and with the same effect as the Certificates
which originally were delivered pursuant to this Ordinance, approved by the Attorney General, and
registered by the Comptroller of Public Accounts. Neither the City nor the Paying Agent/Registrar
shall be required (1) to issue, transfer, or exchange any Certificate during a period beginning at the
opening of business 30 days before the day of the first mailing of a notice of redemption of
Certificates and ending at the close of business on the day of such mailing, or (2) to transfer or
exchange any Certificate so selected for redemption in whole when such redemption is scheduled
to occur within 30 calendar days.
(e) All Certificates issued in exchange or replacement of any other Certificate or portion
thereof, (i) shall be issued in fully registered form, without interest coupons, with the principal of
and interest on such Certificates to be payable only to the registered owners thereof, (ii) may be
redeemed prior to their scheduled maturities, (iii) may be transferred and assigned, (iv) may be ex-
changed for other Certificates, (v) shall have the characteristics, (vi) shall be signed and sealed, and
(vii) the principal of and interest on the Certificates shall be payable, all as provided, and in the
manner required or indicated, in the FORM OF CERTIFICATE set forth in this Ordinance.
(f) The City shall pay all of the Paying Agent/Registrar's reasonable and customary fees and
charges for making transfers and exchanges of Certificates, but the registered owner of any
Certificate requesting such transfer shall pay any taxes or other governmental charges required to
be paid with respect thereto. In addition, the City hereby covenants with the registered owners of
the Certificates that it will (i) pay the reasonable and standard or customary fees and charges of the
Paying Agent/Registrar for its services with respect to the payment of the principal of and interest
on the Certificates, when due, and (ii) pay the fees and charges of the Paying Agent/Registrar for
services with respect to the transfer or registration of Certificates solely to the extent above provided,
and with respect to the exchange of Certificates solely to the extent above provided.
(g) The City covenants with the registered owners of the Certificates that at all times while
the Certificates are outstanding the City will provide a competent and legally qualified bank, trust
company, financial institution, or other agency to act as and perform the services of Paying
Agent/Registrar for the Certificates under this Ordinance, and that the Paying Agent/Registrar will
be one entity. The City reserves the right to, and may, at its option, change the Paying Agent/Regis-
trar upon not less than 60 days written notice to the Paying Agent/Registrar. In the event that the
entity at any time acting as Paying Agent/Registrar (or its successor by merger, acquisition, or other
method) should resign or otherwise cease to act as such, the City covenants that promptly it will
appoint a competent and legally qualified national or state banking institution which shall be a
corporation organized and doing business under the laws of the United States of America or of any
state, authorized under such laws to exercise trust powers, subject to supervision or examination by
federal or state authority, and whose qualifications substantially are similar to the previous Paying
Agent/Registrar to act as Paying Agent/Registrar under this Ordinance. Upon any change in the
Paying Agent/Registrar, the previous Paying Agent/Registrar promptly shall transfer and deliver the
registration books (or a copy thereof), along with all other pertinent books and records relating to
the Certificates, to the new Paying Agent/Registrar designated and appointed by the City. Upon any
change in the Paying Agent/Registrar, the City promptly will cause a written notice thereof to be sent
by the new Paying Agent/Registrar to each registered owner of the Certificates, by United States
Mail, postage prepaid, which notice also shall give the address of the new Paying Agent/Registrar.
By accepting the position and performing as such, each Paying Agent/Registrar shall be deemed to
have agreed to the provisions of this Ordinance, and a certified copy of this Ordinance shall be
delivered to each Paying Agent/Registrar,
Section 6. FORM OF CERTIFICATES. That the form of the Certificates, including the
form of Paying Agent/Registrar's Authentication Certificate, the form of Assignment and the form
of Registration Certificate of the Comptroller of Public Accounts of the State of Texas to be attached
to the Certificates initially issued and delivered pursuant to this Ordinance, shall be, respectively,
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substantially as follows, with such appropriate variations, omissions, or insertions as are permitted
or required by this Ordinance. A legend of insurance provided by the insurance company issuing
a municipal bond insurance policy, if any, in respect to the Certificates may be printed on the
Certificates.
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NO. R-
EORM_OE CERTIFICATE
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI, TEXAS
COMBINATION TAX AND REVENUE
CERTIFICATE OF OBLIGATION
SERIES 1998
MATT IRITY DATE INTEREST__RATE ORIGINALISSUE DATE CI TSB)
% March 1, 1998
ON THE MATURITY DATE specified above, THE CITY OF CORPUS CHRISTI, TEXAS
(the "City" or the "Issuer"), being a political subdivision of the State of Texas, hereby promises
to pay to (hereinafter called the "registered owner") the principal
amount of
DOLLARS
and to pay interest thereon from the Original Issue Date specified above, on September 1, 1998,
and semiannually on each March 1 and September 1 thereafter to the maturity date specified
above or the date of its redemption prior to scheduled maturity, at the interest rate per annum
specified above; except that if this Certificate is required to be authenticated and the date of its
authentication is later than September 1, 1998, such interest is payable semiannually on each
March 1 and September 1 following such date.
THE PRINCIPAL OF AND INTEREST ON this Certificate are payable in lawful money
of the United States of America, without exchange or collection charges. The principal of this
Certificate shall be paid to the registered owner hereof upon presentation and surrender of this
Certificate at maturity, or upon the date fixed for its redemption prior to maturity, at the
corporate trust office in Austin, Texas (the "Designated Trust Office") of Chase Bank of Texas,
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National Association (the "Paying Agent/Registrar"). The payment of interest on this Certificate
shall be made by the Paying Agent/Registrar to the registered owner hereof as shown by the
Registration Books kept by the Paying Agent/Registrar at the close of business on the 15th day
of the month next preceding such interest payment date by check drawn by the Paying
Agent/Registrar on, and payable solely from, funds of the Issuer required to be on deposit with
the Paying Agent/Registrar for such purpose as hereinafter provided; and such check shall be
sent by the Paying Agent/Registrar by United States mail, first-class postage prepaid, on each
such interest payment date, to the registered owner hereof at its address as it appears on the
Registration Books kept by the Paying Agent/Registrar, as hereinafter described, or by such other
method, acceptable to the Paying Agent/Registrar, requested by, and at the risk and expense of,
the registered owner. The Issuer covenants with the registered owner of this Certificate that no
later than each principal payment and/or interest payment date for this Certificate it will make
available to the Paying Agent/Registrar from the Interest and Sinking Fund as defined by the
ordinance authorizing the Certificates (the "Certificate Ordinance") the amounts required to
provide for the payment, in immediately available funds, of all principal of and interest on the
Certificates, when due.
IF THE DATE for the payment of the principal of or interest on this Certificate shall be a
Saturday, Sunday, a legal holiday, or a day on which banking institutions in the city where the
Designated Trust Office of the Paying Agent/Registrar is located are authorized by law or ex-
ecutive order to close, or the United States Postal Service is not open for business, then the date
for such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal
holiday, or day on which banking institutions are authorized to close, or the United States Postal
Seryice is not open for business; and payment on such date shall have the same force and effect
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as if made on the original date payment was due. Notwithstanding the foregoing, during any
period in which ownership of the Certificates is determined only by a book entry at a securities
depository for the Certificates, any payment to the securities depository, or its nominee or
registered assigns, shall be made in accordance with existing arrangements between the Issuer
and the securities depository.
THIS CERTIFICATE is one of a Series of Certificates (the "Certificates") dated the
Original Issue Date specified above, authorized in accordance with the Constitution and laws of
the State of Texas in the principal amount of $9,825,000, FOR THE PURPOSE OF
PROVIDING PART OF THE FUNDS FOR PAYING CONTRACTUAL OBLIGATIONS TO
BE INCURRED FOR THE CITY, TO-WIT: the acquisition and installation of a central
computer information system for use by the various municipal departments of the City and the
payment of fiscal, engineering and legal fees incurred in connection therewith.
ON MARCH 1, 2003, or on any interest payment date thereafter, the Certificates of this
Series maturing on March 1, 2004 and thereafter may be redeemed prior to their scheduled
maturities, at the option of the Issuer, with funds derived from any available and lawful source,
as a whole, or in part (provided that a portion of a Certificate may be redeemed only in an
integral multiple of $5,000), at par and accrued interest to the date fixed for redemption. The
years of maturity of the Certificates called for redemption at the option of the Issuer prior to
stated maturity shall be selected by the Issuer. The Certificates or portions thereof redeemed
within a maturity shall be selected at random and by lot by the Paying Agent/Registrar; provided,
that during any period in which ownership of the Certificates is determined only by a book entry
at a securities depository for the Certificates, if fewer than all of the Certificates of the same
maturity and bearing the same interest rate are to be redeemed, the particular Certificates of such
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maturity and bearing such interest rate shall be selected in accordance with the arrangements
between the Isuser and the securities depository.
AT LEAST 30 days prior to the date fixed for any such redemption, (a) a written notice
of such redemption shall be given to the registered owner of each Certificate or a portion thereof
being called for redemption by depositing such notice in the United States mail, first-class
postage prepaid, addressed to each such registered owner at his address shown on the
Registration Books of the Paying Agent/Registrar and (b) notice of such redemption shall be
published one (1) time in a financial journal or publication of general circulation in the United
States of America carrying as a regular feature notices of municipal bonds called for redemption,
provided, however, that the failure to send, mail, or receive such notice described in (a) above, or
any defect therein or in the sending or mailing thereof, shall not affect the validity or
effectiveness of the proceedings for the redemption of any Certificate, and the Certificate
Ordinance provides that the publication of notice as described in (b) above shall be the only
notice actually required in connection with or as a prerequisite to the redemption of any
Certificates. By the date fixed for any such redemption due provision shall be made by the Issuer
with the Paying Agent/Registrar for the payment of the required redemption price for this
Certificate or the portion hereof which is to be so redeemed, plus accrued interest thereon to the
date fixed for redemption. If such notice of redemption is given, and if due provision for such
payment is made, all as provided above, this Certificate, or the portion hereof which is to be so
redeemed, thereby automatically shall be redeemed prior to its scheduled maturity, and shall not
bear interest after the date fixed for its redemption, and shall not be regarded as being
outstanding except for the right of the registered owner to receive the redemption price plus
accrued interest to the date fixed for redemption from the Paying Agent/Registrar out of the
funds provided for such payment. The Paying Agent/Registrar shall record in the Registration
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Books all such redemptions of principal of this Certificate or any portion hereof. If a portion of
any Certificate shall be redeemed a substitute Certificate or Certificates having the same maturity
date, bearing interest at the same rate, in any denomination or denominations in any integral
multiple of $5,000, at the written request of the registered owner, and in aggregate principal
amount equal to the unredeemed portion thereof, will be issued to the registered owner upon the
surrender thereof for cancellation, at the expense of the Issuer, all as provided in the Certificate
Ordinance.
ALL CERTIFICATES OF THIS SERIES are issuable solely as fully registered
certificates, without interest coupons, in the denomination of any integral multiple of $5,000. As
provided in the Certificate Ordinance, this Certificate, or any unredeemed portion hereof, may, at
the request of the registered owner or the assignee or assignees hereof, be assigned, transferred,
and exchanged for a like aggregate principal amount of fully registered certificates, without
interest coupons, payable to the appropriate registered owner, assignee, or assignees, as the case
may be, having the same maturity date, and bearing interest at the same rate, in any
denomination or denominations in any integral multiple of $5,000 as requested in writing by the
appropriate registered owner, assignee, or assignees, as the case may be, upon surrender of this
Certificate to the Paying Agent/Registrar at its Designated Trust Office for cancellation, all in
accordance with the form and procedures set forth in the Certificate Ordinance. Among other
requirements for such assignment and transfer, this Certificate must be presented and surrendered
to the Paying Agent/Registrar, together with proper instruments of assignment, in form and with
guarantee of signatures satisfactory to the Paying Agent/Registrar, evidencing assignment of this
Certificate or any portion or portions hereof in any integral multiple of $5,000 to the assignee or
assignees in whose name or names this Certificate or any such portion or portions hereof is or are
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to be transferred and registered. The form of Assignment printed or endorsed on this Certificate
may be executed by the registered owner to evidence the assignment hereof, but such method is
not exclusive, and other instruments of assignment satisfactory to the Paying Agent/Registrar
may be used to evidence the assignment of this Certificate or any portion or portions hereof from
time to time by the registered owner. The Issuer shall pay the Paying Agent/Registrar's
reasonable standard or customary fees and charges for transferring and exchanging any
Certificate or portion thereof. In any circumstance, any taxes or governmental charges required
to be paid with respect thereto shall be paid by the one requesting such assignment, transfer, or
exchange as a condition precedent to the exercise of such privilege. In any circumstance, neither
the Issuer nor the Paying Agent/Registrar shall be required (1) to make any transfer or exchange
during a period beginning at the opening of business 30 days before the day of the first mailing
of a notice of redemption of certificates and ending at the close of business on the day of such
mailing, or (2) to transfer or exchange any certificates so selected for redemption when such
redemption is scheduled to occur within 30 calendar days.
WHENEVER the beneficial ownership of this Bond is determined by a book entry at a
securities depository for the Certificates, the foregoing requirements of holding, delivering or
transferring this Certificate shall be modified to require the appropriate person or entity to meet
the requirements of the securities depository as to registering or transferring the book entry to
produce the same effect.
IN THE EVENT any Paying Agent/Registrar for the Certificates is changed by the
Issuer, resigns, or otherwise ceases to act as such, the Issuer has covenanted in the Certificate
Ordinance that it promptly will appoint a competent and legally qualified substitute therefor, and
cause written notice thereof to be mailed to the registered owners of the Certificates.
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BY BECOMING the registered owner of this Certificate, the registered owner thereby
acknowledges all of the terms and provisions of the Certificate Ordinance, agrees to be bound by
such terms and provisions, acknowledges that the Certificate Ordinance is duly recorded and
available for inspection in the official minutes and records of the Issuer, and agrees that the terms
and provisions of this Certificate and the Certificate Ordinance constitute a contract between
each registered owner hereof and the Issuer.
IT IS HEREBY certified, recited and covenanted that this Certificate has been duly and
validly authorized, issued, and delivered; that all acts, conditions, and things required or proper
to be performed, exist, and be done precedent to or in the authorization, issuance, and delivery of
this Certificate have been performed, existed, and been done in accordance with law; that this
Certificate is a direct obligation of said Issuer, issued on the full faith and credit thereof; that
annual ad valorem taxes sufficient to provide for the payment of the interest on and principal of
this Certificate, as such interest comes due and such principal matures, have been levied and
ordered to be levied against all taxable property in said Issuer, and have been pledged for such
payment, within the limit prescribed by law; and that the surplus revenues of the Issuer's Solid
Waste System, after payment of all operation and maintenance expenses thereof, and all other
obligations now or hereafter payable therefrom, as provided in the Certificate Ordinance, have
been pledged as additional security for the Certificates.
IN WITNESS WHEREOF, this Certificate has been signed with the manual or facsimile
signature of the Mayor of the City, attested by the manual or facsimile signature of the City
Secretary of the City, and the official seal of the City has been duly affixed to, impressed, or
placed in facsimile, on this Certificate.
_ xxxxx xxxxxx
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City Secretary, City of Mayor, City of Corpus Christi, Texas
Corpus Christi, Texas
(SEAL)
FORM OFPAYING AGRNT/REGISTRAR'S AUTHENTICATION CERTIFICATE
PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE
It is hereby certified that this Certificate of Obligation has been issued under the
provisions of the Certificate Ordinance described on the face of this Certificate of Obligation;
and that this Certificate of Obligation has been issued in exchange for or replacement of a
certificate of obligation, certificates of obligation, or a portion of a certificate of obligation or
certificates of obligation of an issue which originally was approved by the Attorney General of
the State of Texas and registered by the Comptroller of Public Accounts of the State of Texas.
Dated
Paying Agent/Registrar
By
Authorized Representative
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EORM_OEASSIGNMENT:
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned hereby sells,
assigns and transfers unto
(Please insert Social Security or Taxpayer Identification Number of Transferee)
(Please print or typewrite name and address, including
zip code of Transferee)
the within Certificate of Obligation and all rights
thereunder, and
hereby irrevocably constitutes and appoints
attorney to register the
transfer of the within Certificate
of Obligation on books kept for registration thereof, with
full power of substitution in the premises.
Dated:
Signature Guaranteed:
NOTICE: Signature(s) must
be guaranteed by a member
firm of the New York Stock
Exchange or a commercial
bank or trust company.
NOTICE: The signature above must
correspond with the name of the
Registered Owner as it appears upon
the front of this Certificate of Obligation
in every particular, without alteration or
or enlargement or any change whatsoever.
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*FORM OF COMPTROLLER'S CERTIFICATE ATTACHED TO
_'HF CERTIFICATES UPON TNTTIAT DFJ.TVERY THERROE
OFFICE OF COMPTROLLER
REGISTER NO.
STATE OF TEXAS
I hereby certify that there is on file and of record in my office a certificate of the Attorney
General of the State of Texas to the effect that this Certificate has been examined by him as
required by law, and that he finds that it has been issued in conformity with the Constitution and
laws of the State of Texas, and that it is a valid and binding obligation of the City of Corpus
Christi, Texas, payable in the manner provided by and in the ordinance authorizing same, and
said Certificate has this day been registered by me.
WITNESS MY HAND and seal of office at Austin, Texas this
Comptroller of Public Accounts of
(SEAL) the State of Texas
NOTE TO PRINTER:
not to be on certificate
Section 7. DEFINITIONS. That the terms "Certificates", "Certificates of Obligation"
shall mean the City of Corpus Christi, Texas, Combination Tax and Revenue Certificates of
Obligation, Series 1998, authorized to be issued and delivered by this Ordinance; the term
"Series 1990-A Certificates of Obligation" shall mean the City of Corpus Christi, Texas,
Combination Tax and Revenue Certificates of Obligation, Series 1990-A, dated December 15,
1990, and currently outstanding in the aggregate principal amount of $425,000; the term "Series
1995 Certificates of Obligation" shall mean the City of Corpus Christi, Texas, Combination Tax
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and Revenue Certificates of Obligation, Series 1995, dated December 1, 1995, and currently
outstanding in the aggregate principal amount of $10,260,000; and the term "Code" shall mean
the Internal Revenue Code of 1986, and any amendment thereto.
Section 8. INTEREST AND SINKING FUND. That a special fund or account, to be
designated the "City of Corpus Christi, Texas Series 1998 Combination Tax and Revenue
Certificate of Obligation Interest and Sinking Fund" is hereby created and shall be established
and maintained by the City at its official depository. Said Interest and Sinking Fund shall be
kept separate and apart from all other funds and accounts of said City, and shall be used only for
paying the interest on and principal of said Certificates. Any accrued interest and original issue
premium derived from the sale of the Certificates shall be deposited to the credit of said Interest
and Sinking Fund. All ad valorem taxes levied and collected for and on account of said Cer-
tificates shall be deposited, as collected, to the credit of said Interest and Sinking Fund. During
each year while any of said Certificates are outstanding and unpaid, the governing body of said
City shall compute and ascertain the rate and amount of ad valorem tax, based on the latest ap-
proved tax rolls of said City, with full allowances being made for tax delinquencies and the cost
of tax collections, which will be sufficient to raise and produce the money required to pay the in-
terest on said Certificates as such interest comes due, and to provide a sinking fund to pay the
principal of said Certificates as such principal matures, but never less than 2% of the original
amount of said Certificates as a sinking fund each year. Said rate and amount of ad valorem tax
is hereby ordered to be levied against all taxable property in said City for each year while any of
said Certificates are outstanding and unpaid, and said ad valorem tax shall be assessed and
collected each such year and deposited to the credit of the aforesaid Interest and Sinking Fund.
Said ad valorem taxes necessary to pay the interest on and principal of said Certificates, as such
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interest comes due and such principal matures, are hereby levied and ordered to be levied and
pledged for such payment, within the limit prescribed by law. There shall be appropriated from
the General Fund to deposit into the Interest and Sinking Fund moneys as may be necessary to
pay the first scheduled interest payment on the Certificates of Obligation.
Section 9. REVENUES. That the Certificates of Obligation are additionally secured by
and shall be payable from and secured by the revenues from the Issuer's Solid Waste System
remaining after payment of all maintenance and operation expenses thereof, and all other
obligations now or hereafter payable therefrom (including, without limitation, the Series 1990-A
Certificates of Obligation and the Series 1995 Certificates of Obligation), constituting "Surplus
Revenues". The Surplus Revenues are pledged by the City pursuant to authority of Chapter 363,
Texas Health and Safety Code, particularly Subchapter G thereof. The Issuer shall deposit such
Surplus Revenues to the credit of the Interest and Sinking Fund created pursuant to Section 8, to
the extent necessary to pay the principal and interest on the Certificates of Obligation. Notwith-
standing the requirements of Section 8, if Surplus Revenues are actually on deposit or budgeted
for deposit in the Interest and Sinking Fund in advance of the time when ad valorem taxes are
scheduled to be levied for any year, then the amount of taxes which otherwise would have been
required to be levied pursuant to Section 8 may be reduced to the extent and by the amount of the
Surplus Revenues then on deposit in the Interest and Sinking Fund or budgeted for deposit
herein.
Section 10. TRANSFER. That the City shall do any and all things necessary to
accomplish the transfer of monies to the Interest and Sinking Fund of this issue in ample time to
pay such items of principal and interest.
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Section 11. SECURITY FOR FUNDS. That the Interest and Sinking Fund created by
this Ordinance shall be secured in the manner and to the fullest extent permitted or required by
law for the security of public funds, and such Fund shall be used only for the purposes and in the
manner permitted or required by this Ordinance.
Section 12. DEFEASANCE OF CERTIFICATES. (a) That any Certificate and the
interest thereon shall be deemed to be paid, retired, and no longer outstanding (a "Defeased Cer-
tificate") within the meaning of this Ordinance, except to the extent provided in subsection (d) of
this Section 12, when payment of the principal of such Certificate, plus interest thereon to the
due date (whether such due date be by reason of maturity or otherwise) either (i) shall have been
made or caused to be made in accordance with the terms thereof, or (ii) shall have been provided
for on or before such due date by irrevocably depositing with or making available to the Paying
Agent/Registrar for such payment (1) lawful money of the United States of America sufficient to
make such payment or (2) Government Obligations which mature as to principal and interest in
such amounts and at such times as will insure the availability, without reinvestment, or sufficient
money to provide for such payment, and when proper arrangements have been made by the City
with the Paying Agent/Registrar for the payment of its services until all Defeased Certificates
shall have become due and payable. At such time as a Certificate shall be deemed to be a
Defeased Certificate hereunder, as aforesaid, such Certificate and the interest thereon shall no
longer be secured by, payable from, or entitled to the benefits of, the ad valorem taxes herein
levied and the Pledged Revenues herein pledged as provided in this Ordinance, and such
principal and interest shall be payable solely from such money or Government Obligations.
(b) Any moneys so deposited with the Paying Agent/Registrar may at the written direction of
the City also be invested in Government Obligations, maturing in the amounts and times as
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hereinbefore set forth, and all income from such Government Obligations received by the Paying
Agent/ Registrar which is not required for the payment of the Certificates and interest thereon,
with respect to which such money has been so deposited, shall be turned over to the City, or
deposited as directed in writing by the City.
(e) The term "Government Obligations" as used in this Section 12, shall mean direct
obligations of the United States of America, including obligations the principal of and interest on
which are unconditionally guaranteed by the United States of America, which may be United
States Treasury obligations such as its State and Local Government Series, which may be in
book -entry form.
(d) Until all Defeased Certificates shall have become due and payable, the Paying
Agent/Registrar shall perform the services of Paying Agent/Registrar for such Defeased
Certificates the same as if they had not been defeased, and the City shall make proper
arrangements to provide and pay for such services as required by this Ordinance.
Section 13. DAMAGED, MUTILATED, LOST, STOLEN, OR DESTROYED
CERTIFICATES. (a) Replacement Certificates. That in the event any outstanding Certificate
is damaged, mutilated, lost, stolen, or destroyed, the Paying Agent/Registrar shall cause to be
printed, executed, and delivered, a new certificate of the same principal amount, maturity, and
interest rate, as the damaged, mutilated, lost, stolen, or destroyed Certificate, in replacement for
such Certificate in the manner hereinafter provided.
(b) Application for Replacement Certificates That application for replacement of damaged,
mutilated, lost, stolen, or destroyed Certificates shall be made by the registered owner thereof to
the Paying Agent/Registrar. In every case of loss, theft, or destruction of a Certificate, the regis-
tered owner applying for a replacement certificate shall furnish to the City and to the Paying
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Agent/Registrar such security or indemnity as may be required by them to save each of them
harmless from any loss or damage with respect thereto. Also, in every case of loss, theft, or de-
struction of a Certificate, the registered owner shall furnish to the City and to the Paying
Agent/Registrar evidence to their satisfaction of the loss, theft, or destruction of such Certificate,
as the case may be. In every case of damage or mutilation of a Certificate, the registered owner
shall surrender to the Paying Agent/Registrar for cancellation the Certificate so damaged or
mutilated.
(c) NoD_efault Occurred That notwithstanding the foregoing provisions of this Section, in
the event any such Certificate shall have matured, and no default has occurred which is then
continuing in the payment of the principal of or interest on this Certificate, the City may
authorize the payment of the same (without surrender thereof except in the case of a damaged or
mutilated Certificate) instead of issuing a replacement certificate, provided security or indemnity
is furnished as above provided in this Section.
(d) Chary. forlssuing_.eplacement_ Certificates. That prior to the issuance of any
replacement certificate, the Paying Agent/Registrar shall charge the registered owner of such
Certificate with all legal, printing, and other expenses in connection therewith. Every
replacement certificate issued pursuant to the provisions of this Section by virtue of the fact that
any Certificate is lost, stolen, or destroyed shall constitute a contractual obligation of the City
whether or not the lost, stolen, or destroyed Certificate shall be found at any time, or be
enforceable by anyone, and shall be entitled to all the benefits of this Ordinance equally and
proportionately with any and all other Certificates duly issued under this Ordinance.
(e) Authority for Issuing_Replacement Certificates. That in accordance with Section 6 of
Vemon's Ann. Tex. Civ. St. Art. 717k-6, this Section of this Ordinance shall constitute authority
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for the issuance of any such replacement certificate without necessity of further action by the
City or any other body or person, and the duty of the replacement of such certificates is hereby
authorized and imposed upon the Paying Agent/Registrar, and the Paying Agent/Registrar shall
authenticate and deliver such Certificates in the form and manner and with the effect, as provided
in Section 5(a) of this Ordinance for Certificates issued in conversion and exchange of other
Certificates.
Section 14. COVENANTS REGARDING TAX EXEMPTION. That the City
covenants to refrain from any action which would adversely affect, or to take such action as to
ensure, the treatment of the Certificates of Obligation as obligations described in Section 103 of
the Code, the interest on which is not includable in the "gross income" of the holder for purposes
of federal income taxation. In furtherance thereof, the City covenants as follows:
(a) to take any action to assure that no more than 10 percent of the proceeds of
the Certificates of Obligation (less amounts deposited to a reserve fund, if any) are used
for any "private business use," as defined in section 141(b)(6) of the Code or, if more
than 10 percent of the proceeds are so used, that amounts, whether or not received by the
City, with respect to such private business use, do not, under the terms of this Ordinance
or any underlying arrangement, directly or indirectly, secure or provide for the payment
of more than 10 percent of the debt seryice on the Certificates of Obligation, in
contravention of Section 141(b)(2) of the Code;
(b) to take any action to assure that in the event that the "private business use"
described in subsection (a) hereof exceeds 5 percent of the proceeds of the Certificates of
Obligation (less amounts deposited into a reserve fund, if any) then the amount in excess
of 5 percent is used for a "private business use" which is "related" and not
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"disproportionate", within the meaning of Section 141(b)(3) of the Code, to the gov-
ernmental use;
(c) to take any action to assure that no amount which is greater than the lesser
of $5,000,000, or five percent of the proceeds of the Certificates of Obligation (less
amounts deposited into a reserve fund, if any) is directly or indirectly used to finance
loans to persons, other than state or local governmental units, in contravention of Section
141(c) of the Code;
(d) to refrain from taking any action which would otherwise result in the
Certificates of Obligation being treated as "private activity bonds" within the meaning of
Section 141(b) of the Code;
(e) to refrain from taking any action that would result in the Certificates of
Obligation being "federally guaranteed" within the meaning of section 149(b) of the
Code;
(f) to refrain from using any portion of the proceeds of the Certificates of
Obligation, directly or indirectly, to acquire or to replace funds which were used, directly
or indirectly, to acquire investment property (as defined in Section 148(b)(2) of the Code)
which produces a materially higher yield over the term of the Certificates of Obligation,
other than investment property acquired with --
(1) proceeds of the Certificates of Obligation invested for a reasonable
temporary period of three years or less or, in the case of a refunding bond, for a
period of 30 days or less until such proceeds are needed for the purpose for which
the certificates of obligation are issued,
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(2) amounts invested in a bona fide debt service fund, within the
meaning of Section 1.148-1(b) of the Treasury Regulations, and
(3) amounts deposited in any reasonably required reserve or
replacement fund to the extent such amounts do not exceed 10 percent of the pro-
ceeds of the Certificates of Obligation;
(g) to otherwise restrict the use of the proceeds of the Certificates of
Obligation or amounts treated as proceeds of the Certificates of Obligation, as may be
necessary, so that the Certificates of Obligation do not otherwise contravene the
requirements of Section 148 of the Code (relating to arbitrage) and, to the extent
applicable, Section 149(d) of the Code (relating to advance refundings); and
(h) to pay to the United States of America at least once during each five-year
period (beginning on the date of delivery of the Certificates of Obligation) an amount that
is at least equal to 90 percent of the "Excess Earnings," within the meaning of Section
148(0 of the Code and to pay to the United States of America, not later than 60 days after
the Certificates of Obligation have been paid in full, 100 percent of the amount then
required to be paid as a result of Excess Earnings under Section 148(0 of the Code.
For purposes of the foregoing (a) and (b), the Issuer understands that the term "proceeds"
includes "disposition proceeds" as defined in the Treasury Regulations and, in the case of
refunding bonds, transferred proceeds (if any) and proceeds of the refunded bonds expended
prior to the date of issuance of the Certificates of Obligation. It is the understanding of the City
that the covenants contained herein are intended to assure compliance with the Code and any
regulations or rulings promulgated by the U.S. Department of the Treasury pursuant thereto. In
the event that regulations or ruling are hereafter promulgated which modify or expand provisions
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of the Code, as applicable to the Certificates of Obligation, the City will not be required to
comply with any covenant contained herein to the extent that such failure to comply, in the
opinion of nationally -recognized bond counsel, will not adversely affect the exemption from
federal income taxation of interest on the Certificates of Obligation under Section 103 of the
Code. In the event that regulations or rulings are hereafter promulgated which impose additional
requirements which are applicable to the Certificates of Obligation, the City agrees to comply
with the additional requirements to the extent necessary, in the opinion of nationally -recognized
bond counsel, to preserve the exemption from federal income taxation of interest on the
Certificates of Obligation under Section 103 of the Code. In furtherance of such intention, the
City hereby authorizes and directs the Mayor, the City Manager and the Director of Finance to
execute any documents, certificates or reports required by the Code, and to make such elections
on behalf of the City which may be permitted by the Code as are consistent with the purpose for
the issuance of the Certificates of Obligation.
In order to facilitate compliance with clause (h) above, a "Rebate Fund" is hereby
established by the City for the sole benefit of the United States of America, and such Fund shall
not be subject to the claim of any other person, including without limitation the bondholders.
The Rebate Fund is established for the additional purpose of compliance with Section 148 of the
Code.
Section 15. CUSTODY, APPROVAL, AND REGISTRATION OF
CERTIFICATES. That the Mayor of the City is hereby authorized to have control of the
Certificates initially issued and delivered hereunder and all necessary records and proceedings
pertaining to the Certificates pending their delivery and their investigation, examination, and
approval by the Attorney General of the State of Texas, and their registration by the Comptroller
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of Public Accounts of the State of Texas. Upon registration of the Certificates said Comptroller
of Public Accounts (or a deputy designated in writing to act for said Comptroller) shall manually
sign the Comptroller's Registration Certificate attached to such Certificates, and the seal of said
Comptroller shall be impressed, or placed in facsimile, on such Comptroller's Registration
Certificate.
Section 16. OFFICIAL STATEMENT. That the Official Statement dated March 10,
1998, together with any addenda thereto, prepared and circulated with respect to the sale of the
Certificates of Obligation, is hereby approved and authorized for use in the offering, sale and
reoffering of the Certificates of Obligation. The use of the Official Notice of Sale, dated February
23, 1998, and the Official Bid Form are hereby ratified and approved.
Section 17. SALE OF CERTIFICATES OF OBLIGATION. That the sale of the
Certificates of Obligation to PaineWebber, Inc., and associates, (the "Purchaser"), at the price of
par plus accrued interest to the date of delivery, is hereby authorized. One Certificate of
Obligation in the principal amount maturing on each maturity date as set forth in Section 2
hereof shall be delivered to the Purchaser, registered in the name of PaineWebber, Inc., and the
Purchaser shall have the right to exchange such Certificates of Obligation as provided in Section
5 hereof without cost. It is hereby officially found, determined and declared that the Certificates
of Obligation were sold to the highest bidder at terms that were the most advantageous
reasonably obtained.
Section 18. CONTINUING DISCLOSURE OBLIGATION. (a) Definitions. As used
in this Section, the following terms have the meanings ascribed to such terms below:
"MSRB" means the Municipal Securities Rulemaking Board.
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"NRMSIR" means each person whom the SEC or its staff has determined to be a
nationally recognized municipal securities information repository within the meaning of the Rule
from time to time.
"Rule" means SEC Rule 15c2-12, as amended from time to time.
"SEC" means the United States Securities and Exchange Commission.
"SID" means any person designated by the State of Texas or an authorized
department, officer, or agency thereof as, and determined by the SEC or its staff to be, a state
information depository within the meaning of the Rule from time to time.
(b) Annual Reports. (i) The City shall provide annually to each NRMSIR and any SID,
within six months after the end of each fiscal year ending in or after 1998, financial information
and operating data with respect to the City of the general type included in the final Official
Statement authorized by Section 16 of this Ordinance, being the information described in
Exhibit A hereto. Any financial statements so to be provided shall be (1) prepared in accordance
with the accounting principles described in Exhibit A hereto, or such other accounting principles
as the City may be required to employ from time to time pursuant to state law or regulation, and
(2) audited, if the City commissions an audit of such statements and the audit is completed
within the period during which they must be provided. If the audit of such financial statements is
not complete within such period, then the City shall provide unaudited financial statements by
the required time, and shall provide audited financial statements for the applicable fiscal year to
each NRMSIR and any SID, when and if the audit report on such statements become available.
(ii) If the City changes its fiscal year, it will notify each NRMSIR and any SID of the
change (and of the date of the new fiscal year end) prior to the next date by which the City
otherwise would be required to provide financial information and operating data pursuant to this
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Section. The financial information and operating data to be provided pursuant to this Section
may be set forth in full in one or more documents or may be included by specific reference to any
document (including an official statement or other offering document, if it is available from the
MSRB) that theretofore has been provided to each NRMSIR and any SID or filed with the SEC.
(c) MaterialEvent_Notices The City shall notify any SID and either each NRMSIR or
the MSRB, in a timely manner, of any of the following events with respect to the Certificates of
Obligation, if such event is material within the meaning of the federal securities laws:
1. Principal and interest payment delinquencies;
2. Non-payment related defaults;
3. Unscheduled draws on debt service reserves reflecting financial
difficulties;
4. Unscheduled draws on credit enhancements reflecting financial
difficulties;
5. Substitution of credit or liquidity providers, or their failure to perform;
6. Adverse tax opinions or events affecting the tax-exempt status of the
Certificates of Obligation;
7. Modifications to rights of holders of the Certificates of Obligation;
8. Certificates of Obligation calls;
9. Defeasances;
10. Release, substitution, or sale of property securing repayment of the
Certificates of Obligation; and
11. Rating changes.
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The City shall notify any SID and either each NRMSIR or the MSRB, in a timely manner, of any
failure by the City to provide financial information or operating data in accordance with
subsection (b) of this Section by the time required by such subsection.
(d) J imitations, Disclaimers, and Amendments (i) The City shall be obligated to
observe and perform the covenants specified in this Section for so long as, but only for so long
as, the City remains an "obligated person" with respect to the Certificates of Obligation within
the meaning of the Rule, except that the City in any event will give notice of any deposit made in
accordance with this Ordinance or applicable law that causes Certificates of Obligation no longer
to be outstanding.
(ii) The provisions of this Section are for the sole benefit of the registered owners and
beneficial owners of the Certificates of Obligation, and nothing in this Section, express or
implied, shall give any benefit or any legal or equitable right, remedy, or claim hereunder to any
other person. The City undertakes to provide only the financial information, operating data,
financial statements, and notices which it has expressly agreed to provide pursuant to this Section
and does not hereby undertake to provide any other information that may be relevant or material
to a complete presentation of the City's financial results, condition, or prospects or hereby
undertake to update any information provided in accordance with this Section or otherwise,
except as expressly provided herein. The City does not make any representation or warranty
concerning such information or its usefulness to a decision to invest in or sell Certificates of
Obligation at any future date.
(iii) UNDER NO CIRCUMSTANCES SHALL THE CITY BE LIABLE TO THE
REGISTERED OWNER OR BENEFICIAL OWNER OF ANY CERTIFICATE OF
OBLIGATION OR ANY OTHER PERSON, IN CONTRACT OR TORT, FOR DAMAGES
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RESULTING IN WHOLE OR IN PART FROM ANY BREACH BY THE CITY, WHETHER
NEGLIGENT OR WITHOUT FAULT ON ITS PART, OF ANY COVENANT SPECIFIED IN
THIS SECTION, BUT EVERY RIGHT AND REMEDY OF ANY SUCH PERSON, IN
CONTRACT OR TORT, FOR OR ON ACCOUNT OF ANY SUCH BREACH SHALL BE
LIMITED TO AN ACTION FOR MANDAMUS OR SPECIFIC PERFORMANCE.
(iv) No default by the City in observing or performing its obligations under this Section
shall comprise a breach of or default under the Ordinance for purposes of any other provision of
this Ordinance. Nothing in this Section is intended or shall act to disclaim, waive, or otherwise
limit the duties of the City under federal and state securities laws.
(v) The provisions of this Section may be amended by the City from time to time to
adapt to changed circumstances that arise from a change in legal requirements, a change in law,
or a change in the identity, nature, status, or type of operations of the City, but only if (1) the
provisions of this Section, as so amended, would have permitted an underwriter to purchase or
sell Certificates of Obligation in the primary offering of the Certificates of Obligation in
compliance with the Rule, taking into account any amendments or interpretations of the Rule
since such offering as well as such changed circumstances and (2) either (a) the registered
owners of a majority in aggregate principal amount (or any greater amount required by any other
provision of this Ordinance that authorizes such an amendment) of the outstanding Certificates of
Obligation consent to such amendment or (b) a person that is unaffiliated with the City (such as
nationally recognized bond counsel) determined that such amendment will not materially impair
the interest of the registered owners and beneficial owners of the Certificates of Obligation. If
the City so amends the provisions of this Section, it shall include with any amended financial
information or operating data next provided in accordance with subsection (b) of this Section an
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explanation, in narrative form, of the reason for the amendment and of the impact of any change
in the type of financial information or operating data so provided. The City may also amend or
repeal the provisions of this continuing disclosure agreement if the SEC amends or repeals the
applicable provision of the Rule or a court of final jurisdiction enters judgment that such
provisions of the Rule are invalid, but only if and to the extent that the provisions of this sentence
would not prevent an underwriter from lawfully purchasing or selling Certificates of Obligation
in the primary offering of the Certificates of Obligation.
Section 19. ALLOCATION OF, AND LIMITATION ON, EXPENDITURES FOR
TILE PROJECT. That the Issuer covenants to account for the expenditure of proceeds from
the sale of the Certificates and any investment earnings thereon to be used for the purposes
described in Section 1 of this Ordinance (each such purpose referred to herein and Section 20
hereof as a "Project") on its books and records by allocating proceeds to expenditures within 18
months of the later of the date that (a) the expenditure on a Project is made or (b) each such
Project is completed. The foregoing notwithstanding, the Issuer shall not expend such proceeds
or investment earnings more than 60 days after the later of (a) the fifth anniversary of the date of
delivery of the Certificates or (b) the date the Certificates are retired, unless the Issuer obtains an
opinion of nationally -recognized bond counsel substantially to the effect that such expenditure
will not adversely affect the tax-exempt status of the Certificates.
Section 20. DISPOSITION OF PROJECT. That the Issuer covenants that the property
constituting a Project will not be sold or otherwise disposed in a transaction resulting in the
receipt by the Issuer of cash or other compensation, unless the Issuer obtains an opinion of
nationally -recognized bond counsel substantially to the effect that such sale or other disposition
will not adversely affect the tax-exempt status of the Certificates.
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Section 21. DTC REGISTRATION. That the Certificates of Obligation initially shall
be issued and delivered in such manner that no physical distribution of the Certificates of
Obligation will be made to the public, and The Depository Trust Company ("DTC"), New York,
New York, initially will act as depository for the Certificates of Obligation. DTC has
represented that it is a limited purpose trust company incorporated under the laws of the State of
New York, a member of the Federal Reserve System, a "clearing corporation" within the
meaning of the New York Uniform Commercial Code, and a "clearing agency" registered under
Section 17A of the Securities Exchange Act of 1934, as amended, and the City accepts, but in no
way verifies, such representations. The Certificates of Obligation initially authorized by this
Ordinance shall be delivered to and registered in the name of CEDE & CO., the nominee of
DTC. It is expected that DTC will hold the Certificates of Obligation on behalf of the Purchaser
(as defined in Section 17 of this Ordinance) and its participants. So long as each Certificate of
Obligation is registered in the name of CEDE & CO., the Paying Agent/Registrar shall treat and
deal with DTC the same in all respects as if it were the actual and beneficial owner thereof. It is
expected that DTC will maintain a book -entry system which will identify ownership of the
Certificates of Obligation in integral amounts of $5,000, with transfers of ownership being
effected on the records of DTC and its participants pursuant to rules and regulations established
by them, and that the Certificates of Obligation initially deposited with DTC shall be
immobilized and not be further exchanged for substitute Certificates of Obligation except as
hereinafter provided. The City is not responsible or liable for any functions of DTC, will not be
responsible for paying any fees or charges with respect to its services, will not be responsible or
liable for maintaining, supervising, or reviewing the records of DTC or its participants, or
protecting any interests or rights of the beneficial owners of the Certificates of Obligation. It
-37-
shall be the duty of the DTC Participants, as defined in the Official Statement herein approved, to
make all arrangements with DTC to establish this book -entry system, the beneficial ownership of
the Certificates of Obligation, and the method of paying the fees and charges of DTC. The City
does not represent, nor does it in any way covenant that the initial book -entry system established
with DTC will be maintained in the future. Notwithstanding the initial establishment of the
foregoing book -entry system with DTC, if for any reason any of the originally delivered
Certificates of Obligation is duly filed with the Paying Agent/Registrar with proper request for
transfer and substitution, as provided for in this Ordinance, substitute Certificates of Obligation
will be duly delivered as provided in this Ordinance, and there will be no assurance or
representation that any book -entry system will be maintained for such Certificates of Obligation.
Section 22. INTEREST EARNINGS. Interest earnings derived from the investment of
proceeds from the sale of the Certificates shall be used along with other proceeds for the
construction of the permanent improvements set forth in Section 1 hereof for which the
Certificates are issued; provided that after completion of such permanent improvements, if any of
such interest earnings remain on hand, such interest earnings shall be deposited in the Interest
and Sinking Fund. It is further provided, however, that any interest earnings on proceeds which
are required to be rebated to the United States of America pursuant to this Ordinance hereof in
order to prevent the Certificates from being arbitrage bonds shall be so rebated and not
considered as interest earnings for the purposes of this Section.
Section 23. CONFLICTING PROCEEDINGS. That all ordinances and resolutions or
parts thereof in conflict herewith are hereby repealed.
-38-
Section 24. PREAMBLE. The findings and preambles set forth in this Ordinance are
hereby incorporated into this Ordinance and made a part hereof for all purposes.
Section 25. EFFECTIVENESS OF ORDINANCE. That this Ordinance shall take
effect and be in full force and effect from and after the date of its passage, and it is so ordained.
Section 26. OPEN MEETING. It is hereby officially found and determined that the
meeting at which this Ordinance was passed was open to the public, and public notice of the
time, place and purpose of said meeting was given, all as required by Chapter 551, Texas
Government Code, as amended.
Section 27. WAIVER OF CHARTER RULE. That on request of the Mayor to find
and declare an emergency due to the immediate need for the efficient and effective administra-
tion of City affairs by authorizing the issuance of the above-mentioned Certificates, such finding
of an emergency is hereby specifically made and declared, requiring suspension of the Charter
rule as to consideration and voting upon ordinances or resolutions at two regular meetings so
that this Ordinance be passed and take effect upon first reading.
ADOPTED this 10th day of March, 1998.
Mayor, City of Corpus Christi
ATTEST:
City Secretary, City of Corpus Christi, .? xas
(SEAL)
-39-
APPROVED AS TO FORM AND LEGALITY:
LAtcvco,k Ina
City Attomey, Cz yorpus Christi
-40-
Corpus Christi, Texas
/CI 11 day of `1'ti ak c /) , 1998.
TO THE MEMBERS OF THE CITY COUNCIL
Corpus Christi, Texas
For the reasons set forth in the emergency clause of the foregoing ordinance an emergency exists
requiring suspension of the Charter rule as to consideration and voting upon ordinances at two
regular meetings: I/we, therefore, request that you suspend said Charter rule and pass this
ordinance finally on the date it is introduced, or at the present meeting of the City Council.
Respectfully, Respectfully,
Council Members
MAYOR
THE CITY OF CORPUS CHRISTI
The above ordinance was passed by the following vote:
Samuel L. Neal Jr.
Javier Colmenero
Melody Cooper
Alex L. Garcia, Jr.
Dr. Arnold Gonzales
Betty Jean Longoria
John Longoria
Edward A. Martin
Dr. David McNichols
023240
OFFICE OF COMPTROLLER
REGISTER NO.
STATE OF TEXAS :
I hereby certify that there is on file and of record in my office a certificate of the Attorney
General of the State of Texas to the effect that this Certificate has been examined by him as
required by law, and that he finds that it has been issued in conformity with the Constitution and
laws of the State of Texas, and that it is a valid and binding obligation of the City of Corpus
Christi, Texas, payable in the manner provided by and in the ordinance authorizing same, and
said Certificate has this day been registered by me.
WITNESS MY HAND and seal of office at Austin, Texas this
Comptroller of Public Accounts of
the State of Texas
(SEAL)
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 an Ordinance passed by the City
Council of the City of Corpus Christi, Texas (and of the minutes pertaining thereto) on the 10th
day of March, 1998, authorizing the issuance of $9,825,000 Combination Tax and Revenue
Certificates of Obligation, Series 1998, which ordinance 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 Texas Government Code, Chapter 551.
EXECUTED UNDER MY HAND AND SEAL of said City, this the 10th day of March,
1998.
City Secretary, City of orpus
Christi, Texas
(SEAL)
CERTIFICATE FOR ORDINANCE
TRE STATE OF TEXAS
COUNTY OF NUECES
CITY OF CORPUS CHRISTI
On this the 10th day of March, 1998, the City Council of the City of Corpus Christi, Texas
convened in Regular Meeting, with the following members of said Council present, to -wit:
S. Loyd Neal
Javier Colmenero
Betty Jean Longoria,
John Longoria,
Dr. David McNichols,
Melody Cooper,
Edward A. Martin,
Alex L. Garcia, J'.,
Arnold Gonzales, Ph. D.
Bill Hennings,
James Bray,
Jorge Cruz-Aedo,
Armando Chapa,
Mayor
Councilmembers
City Manager,
City Attorney,
Director of Finance,
City Secretary
with the following absent: 0 , constituting a quorum, at which time the following among
other business was transacted:
City Manager Bill Hennings presented for the consideration of the Council an ordinance
authorizing the issuance of Combination Tax and Revenue Certificates of Obligation, Series 1998,
in the aggregate principal amount of $9,825,000, and accepting the best and highest bid for the
Certificates of Obligation. The ordinance was read by the City Secretary. The motion to suspend
the Charter rule as to consideration and voting on ordinances at two regular meetings and to pass the
ordinance was carried by the following vote.
AYES: All members of the Citx Council shown present above voted
"Aye", except , A
NAYS: 0( 6k
The Mayor announced that the ordinance had been passed. The ordinance is as follows:
State of Texas
County of Nueces
}
}
PUBLISHER'S AFFIDAVIT
CITY OF CORPUS CHRISTI
ss: Ad # 1918797
PO #
Before me, the undersigned, a Notary Public, this day personally came Darrell
G. Coleman, who being first duly sworn, according to law, says that he is Vice -
President and Chief Financial Officer of the Corpus Christi Caller -Times, a daily
newspaper published at Corpus Christi in said City and State, generally
circulated in Aransas, Bee, Brooks, Duval, Jim Hogg, Jim Wells, Karnes,
Kenedy, Kleberg, Live Oak, Nueces, Refugio, San Patricio, Victoria and Webb
Counties, and that the publication of, NOTICE OF INTENTION TO ISSUE
which the annexed is a true copy, was inserted in the Corpus Christi Caller -
Times and on the World Wide Web on the Caller -Times Interactive on the 22ND
day(s) of FEBRUARY, 1998.
TWO (2 ) Time(s)
$105.50
Ort -1-..WO
Vice -President and Chief Financial Officer
Subscribed and sworn to me on the date of
FEBRUARY 23, 1998.
Notary Public, Nueces County, Texas
CONNIE HARALSON
Print or Type Name of Notary Public
My commission expires on 5/14/01.
Corpus Christi Caller -Times Sunday, February 22, 1998/F3
OTICE OF INTENTION TO
ISSUE CERTIFICATES OF
OBLIGATION
NOTICE IS HEREBY GIVEN
that it is the intention of the
City Council of the City of Cor-
pus Christi, Texas, to issue
one or more series of the
interest-bearing certificates of
obligation of the City to be enti-
tled 'City of Corpus Christi,
Texas Combination Tax and
Solid Waste Revenue Certifi-
cates of Obligation,' for the '
purpose of paying contractual
obligations to be incurred by
the City, to -wit, the acquisition
and installation of a central
computer information system
for use by the various munici-
pal departments of the City,
and the payment of fiscal, engi-
neering and legal fees
incurred in connection there-
with. The City Council
tentatively proposes to autho-
rize the Issuance of said series
(one or more) of Certificates of
Obligation at its regular meet-
ing place in the City Hall at a
meeting to commence at 2:00
p.m. on the 10th day of March,
1998. The maximum amount
of Certificates of Obligation in-
debtedness that may be
authorized to be sold on said
date for such purposes de-
scribed above is $10,000,000.
The City Council presently pro-
poses to provide for payment
of said series (one or more) of
Certificates of Obligation from
the levy of taxes and from sur-
plus revenues derived from
the operation of the City's solid '
waste system.
CITY OF CORPUS;
CHRISTI, TEXAS
M/S. Loyd Neal
Mayor ,
LAW OFFICES
MCCALL, PARKHURST a HORTON
600 CONGRESS AVENUE
1250 ONE AMERICAN CENTER
AUSTIN, TEXAS 7670/-3246
TELEPHONE'. 512 478-3805
FACSIMILE 512472-0871
Mr. Jorge Cruz-Aedo
Director of Finance
City of Corpus Christi
1201 Leopard Street
Corpus Christi, Texas 78403
717 NORTH HARWOOD
NINTH FLOOR
DALLAS, TEXAS 75201-6587
TELEPHONE 214 754-9200
FACSIMILE 214754-9250
February 12, 1998
Re: City of Corpus Christi, Texas Combination Tax
and Solid Waste Revenue Certificates of
Obligation
Dear Jorge:
L
L_. P
700 N. ST. MARY'S STREET
1225 ONE RIVERWALK PLACE
SAN ANTONIO, TEXAS 78205-3503
TELEPHONE. 210 225-2800
FACSIMILE 210 225-2984
OVERNIGHT DELIVERY
Enclosed please find the execution copies of the resolution authorizing the publication of the
notice of intention to issue the captioned Certificates of Obligation. Also enclosed is an extra copy
of the notice, to be delivered, together with the enclosed affidavits of publication, to the Corpus
Christi Caller -Times for publication in the manner described below. We have placed signature tabs
on the resolutions, indicating where signatures are necessary. Please return all but one of the
executed copies of the resolutions to me at your earliest convenience.
The notice of intention must be published once a week for two successive weeks, with the first
publication to occur no later tha'i Sunday, February 22, 1998, which day is at least 14 days before
March 10, 1998, the proposed sale date.
Also enclosed is a very rough draft of the ordinance authorizing the Certificates of Obligation,
for your review and comment. If you have questions regarding the enclosed, please do not hesitate
to contact me.
Enclosures
cc w/enc.:
Jim Seal
Very truly yours,
McCALL, P ' ST & HORTON L.L.P.
A. Leuschel
NOTICE OF INTENTION TO ISSUE
CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that it is the intention of the City Council of the City of
Corpus Christi, Texas, to issue one or more series of the interest bearing certificates of obligation of
the City to be entitled "City of Corpus Christi, Texas Combination Tax and Solid Waste Revenue
Certificates of Obligation", for the purpose of paying contractual obligations to be incurred by the
City, to -wit, the acquisition and installation of a central computer information system for use by the
various municipal departments of the City, and the payment of fiscal, engineering and legal fees
incurred in connection therewith. The City Council tentatively proposes to authorize the issuance of
said series (one or more) of Certificates of Obligation at its regular meeting place in the City Hall at
a meeting to commence at 2 o'clock, p.m., on the 10th day of March, 1998. The maximum amount
of Certificates of Obligation indebtedness that may be authorized to be sold on said date for such
purposes described above is $10,000,000. The City Council presently proposes to provide for
payment of said series (one or more) of Certificates of Obligation from the levy of taxes and from
surplus revenues derived from the operation of the City's solid waste system.
CITY OF CORPUS CHRISTI, TEXAS
/s/ S. Loyd Neal
Mayor
State of Texas
County of Nueces
}
}
c
PUBLISHER'S AFFIDAVIT
CITY OF CORPUS CHRISTI
ss: Ad # 1918800
PO #
Before me, the undersigned, a Notary Public, this day personally came Darrell
G. Coleman, who being first duly sworn, according to law, says that he is Vice -
President and Chief Financial Officer of the Corpus Christi Caller -Times, a daily
newspaper published at Corpus Christi in said City and State, generally
circulated in Aransas, Bee, Brooks, Duval, Jim Hogg, Jim Wells, Karnes,
Kenedy, Kleberg, Live Oak, Nueces, Refugio, San Patricio, Victoria and Webb
Counties, and that the publication of, NOTICE OF INTENTION TO ISSUE
which the annexed is a true copy, was inserted in the Corpus Christi Caller -
Times and on the World Wide Web on the Caller -Times Interactive on the 1ST
day(s) of MARCH, 1998.
TWO 2 ) Time(s)
$105.50
011111110110/11
ac�aN\PR P�e�s°2':
�,,,P� 9TE OFiE�
t- ,••%. FXPI RE ... \\�
Grdi. Qg.3
Vice -President and Chief Financial Officer
Subscribed and sworn to me on the date of
MARCH 02, 1998.
Notary Public, Nueces County, Texas
CONNIE HARALSON
Print or Type Name of Notary Public
My commission expires on 5/14/01.
vuJ LL)MYU ILH HLLAIUU
EQUIPMENT (PRINTERS,
' 7U BOXES. MONITORS,
C.) AND ONE AB DICK
.80 OFFSET PRESS. ON
MARCH 3 THRU MARCH 5,
1998, THE ITEMS CAN BE
VIEWED AND BIDS SUBMIT-
TED FROM 9:00 A,M,-1:00
P.M. ON THE DAYS MEN-
TIONED ABOVE AT THE
CENTRAL RECEIVING
WAREHOUSE. HIGH BID-
DERS WILL BE NOTIFIED BY
CLOSE OF BUSINESS ON
MARCH 5, 1998. ALL SALES
ARE WHEREIS/AS IS (NO
WARRANTY ISSUED). PROP-
ERTY REMOVAL FROM THE
WAREHOUSE TO MODE OF
TRANSPORTATION WILL BE
THE HIGH BIDDER'S BUR-
DEN. TEXAS A&M
UNIVERSITY -CORPUS
CHRISTI RESERVES THE
RIGHT TO REFUSE ANY
AND ALL BIDS SUBMITTED,
FOR INFORMATION PLEASE
CALL JERRY SALDANA AT
(512)994-2771 OR MS. JUDY
HARRAL AT (512) 994-
5936.
EXHIBIT "A' Substitute
Trustee for the Small Business
Administration by powers
granted to him in a Deed of
Trust dated October 11, 1991,
executed by Robert Bryan Fen-
nell, President, on behalf of
Green Surroundings Hardware
Garden Center, Inc. and duly
recorded in Volume 2307,
Pages 679-684, of the Deed of
Trust Records of Nueces
County, Texas, will sell
through foreclosure sale at
public auction in accordance
with the terms of said Deed of
Trust, property located at
15606 S. Padre Island Drive,
Corpus Christi, Texas fka
Green Surroundings Hardware
Garden Center, Inc. and le-
gally described as follows: The
Most Easterly One -Hundred
Ninety -Two (Ely 192') of Lots
1A, 2A and 3A, Block 15, PA-
DRE ISLAND NO. 1, a
subdivision of Padre Island,
Nueces County, Texas, as
shown by map or plat thereof
recorded in Volume 15, Pages
1 to 8 inclusive, and Page 17,
Map Records of Nueces
County, Texas. Sale will com-
mence at 10:00 a.m., but no
later than 1:00 p.m. on Tues-
day, March 3, 1998 (that being
the first Tuesday of said
month), at the covered area at
the Lipan Street entrance of
the Nueces County Court-
house in Corpus Christi, Texas
to the highest bidder for cash,
cashier's check or other form
of certified funds. Property is
offered "as is, where is," with-
out warranty or other
representation as to title or
condition. Sale is also subject
to taxes, judgments and prior
liens, if any. For further infor-
mation please contact Jose
Rodriguez, Jr. at 888-3314.
FOR THE SOUTHERN DIS-
TRICT OF TEXAS CORPUS
CHRISTI DIVISION IN THE
MATTER OF THE COM-
PLAINT OF GARRETT f
MARINE EQUIPMENT, INC.
AND GARRETT CONSTRUC-
TION COMPANY, INC. FOR f
EXONERATION FROM 08 f
LIMITATION OF LIABILITY p
AS OWNERS, CHARTERERS T
AND OPERATORS OF THE p
MN JONNA LEE GARRETT) I
C.A. NO. 98-004 ADMIRALTY y
9. (h) NQTICE OF COM- t
suomn dos in response to this
invitation and will not be dis-
criminated against on the
grounds of race, color, sex,
handicap, or national origin in
consideration for the award.
/s/ Victor G. De La Cruz
Victor G. De La Cruz
Executive Director
INVITATION TO BID
Sealed Proposals addressed
to the City of Bishop, "1998
Wastewater Improvements"
will be received at the office of
the City Secretary in the
Bishop City Hall at 500 East
Street or received in the mail
addressed to the City of
Bishop, P.O. Box 356, Bishop,
Texas 78343, until 2:00 P.M.,
Monday, March 9, 1998, at
which time they will be taken
to the City Council Chamber
and be publicly opened and
real aloud.
The project consists of installa-
tion of new aerators and a flow
metering system at the Bisho
Wastewater Treatment Plant
the installation of a new lift stai
tion on Hackberry Street.
Bidders must submit a Cash
ier's or Certified Check issue
by a bank satisfactory to Th
City of Bishop, or a Propos
Bond from a reliable sure
company, payable to the Ci
of Bishop in an amount n
less than five percent (5%)
the bid submitted as a gua
anty that the Bidder will ent
into a contract using the form
provided within ten (10) day
after notice of award of co
tract to him. Bids without th
required check or propos
bond will not be considere
The City of Bishop will noti
the successful Bidder, in wri
ing, within thirty (30) days aft
the date of opening bids, of it
acceptance of his proposal.',
Copies of the Contract Doc
ments, which includ
drawings, general requi
ments, and technic
specifications, may be o
tained with a $25.00 fee
Urban Engineering, 27
Swantner, P.O. Box 6355, C
pus Christi, Texas 7846
6355.
JTPA TITLES IIA, IIC, & Ij
PRELIMINARY PLAN
SUMMARY
In accordance with the J
Training Partnership A
(JTPA), Public Law 97-30
and the Reform Amendmen
of 1992, the Workforce Deve
opment Board of the Coast
Bend (Board). acting as th
grant recipient and administr
tive entity for the 12-coun
region, hereby publishes th
preliminary first year summa
of a two year Job Training
Plan for Titles IIA (adult year-
round). IIC (youth year-round)
and III-EDWAA 4dislocated
worker) programs. The final
plan is scheduled to be ap-
proved by the Board and the
ocal elected officials on
March, 1998. Services pro-
vided through these grants will
commence on July 1, 1998
and end June 30, 1999 (for the
first year).
The purpose of the Title IIA
programs is to prepare adults
or participation in the labor
orce by increasing their occu-
ational and educational skills.
he purpose of the Title IIC
rograms is to improve the
ong-term employability of
outh, enhance the educa-
ional. occupation and
THE PURCHASING DIREC
TOR, TEXAS A&M
UNIVERSITY -CORPUS
CHRISTI, 6300 OCEAN
DRIVE, UNIVERSITY SER
VICE BUILDING ROOM 120A
CORPUS CHRISTI, TEXAS
UNTIL 2:00 P.M. O'CLOCK
MARCH 17, 1998. INFORMA
TION PACKAGES MAY BE
OBTAINED FROM THE OF
FICE OF THE PURCHASING
DIRECTOR, A&M
UNIVERSITY -CORPUS
CHRISTI. TEXAS A&M
UNIVERSITY -CORPUS
CHRISTI RESERVES THE
RIGHT TO WAIVE ANY AND
ALL BIDS, HOWEVER, NO
PROPOSAL CAN BE AC-
CEPTED AFTER THE
CLOSING HOUR AS ADVER-
TISED. MINORITY
BUSINESSES ARE INVITED
AND ENCOURAGED TO
BID.
L.P., for an antenna
I on the Gollihar Street
"ower in consideration
or :co paying $700 per
mom,, payable annually and
adjusted by CPI Index every 5
years. This ordinance was
passed and approved on sec-
ond reading by the City
Council of the City of Corpus
Christi on February 24,
1998.
/s/Armando Chapa
City Secretary
City of Corpus Christi
NOTICE OF PASSAGE OF
ORDINANCE NO. 023236
Authorizing the City Manager
or his designee to execute
Lease No. DTFA07-98-I-
01123 between the City of
Corpus Christi and the U.S.
Department of Transportation,
Federal Aviation Administra-
tion, authorizing the lease of
roperty at the Corpus Christi
ternational Airport for Run -
ay 31 MALSR, ILS
ocalizer) and VASI, Runway
3 MALSR, ILS, (Localizer,
S, MM), VASI, RVR, to -
ether with associated access
Dads and cable routes in con-
ideration of Federal Aviation
dministration operating and
aintaining the air traffic con-
ol tower at the Airport. This
rdinance was passed and ap-
roved on second reading by
e City Council of the City of
orpus Christi on February 24,
998.
/s/Armando Chapa
City Secretary
City of Corpus Christi
OTICE OF PASSAGE OF
RDINANCE NO 023237
*uthorizing the City Manager
r his designee to execute
ease No. DTFA07-98-I-
1153 between the City of
orpus Christi and the U.S.
epartment of Transportation,
ederal Aviation Administra-
I on, autho 'zing use of land at
- e Corpur Christi Interna-
onal Airport to construct and
perate an airport traffic con-
ol tower in consideration of
onstructing and operating the
it traffic control tower. This or -
mance was passed and
pproved on second reading
y the City Council of the City
f Corpus Christi on February
4, 1998.
NOTICE OF INTENTION TO
ISSUE CERTIFICATES OF
OBLIGATION
NOTICE IS HEREBY GIVEN
that it is the intention of the
City Council of the City of Cor-
pus Christi, Texas, to issue
one or more series of the
interest-bearing certificates of
obligation of the City to be enti-
tled 'City of Corpus Christi,
Texas Combination Tax and
Solid Waste Revenue Certifi-
cates of Obligation," for the
purpose of paying contractual
obligations to be incurred by
the City, to -wit, the acquisition
and installation of a central
gorQuter information system
for use by the various munici-
pal departments of the City,
and the payment of fiscal, engi-
neering and legal lees
incurred in connection there-
with. The City Council
tentatively proposes to autho-
rize the issuance of said series
(one or more) of Certificates of
Obligation at its regular meet-
ing place in the City Hall at a
meeting to commence at 2:00
p.m. on the 10th day of March,
1998. The maximum amount
of Certificates of Obligation in-
debtedness that may be
authorized to be sold on said
date for such purposes de-
scribed above is $10,000,000.
The City Council presently pro-
poses to provide for payment
of said series (one or more) of
Certificates of Obligation from
the levy of taxes and from sur-
plus revenues derived from
the operation of the City's solid
waste system.
CITY OF CORPUS
CHRISTI, TEXAS
/s/S. Loyd Neal
NOTIC • .. • • OF
ORDINANCE ON FIRST
READING
Authorizing the City Manager
or his designee to execute a
one-year lease agreement
with S.V. Kyles and
Associates/Earth Works Pro-
ductions to hold a reggae
music festival and related activ-
ities including non-exclusive
use of sidewalks and medians
on Shoreline Boulevard, North
of IH37 between Resaca and
Palo Alto Streets, on the Me-
morial Day weekend, from
6:00 a.m. Wednesday, May
20. to 6:00 a.m. Wednesday,
May 27, 1998; and including
exclusive use from 6:00 a.m.
Saturday, May 23, to 6:00 a.m.
Tuesday, May 2G, 1998, in con-
sideration of areermit fee and
/s/Armando Chapa
City Secretary
N; City of Corpus Christi
WOTICE OF PASSAGE OF
ORDINANCE NO. 023238
Authorizing the City Manager
r his designee to approve
Supplemental Agreement No.
to Lease No. DTFA07-83-l-
65 between the City of
Corpus Christi and the U.S.
Department of Transportation,
Federal Aviation Administra-
tion authorizing the use of land
at the Corpus Christi Interna-
tional Airport to install the
Runway 35Touchdown New
Generation Runway Visual
Range Facility, and Adding:
Runway 17 Omnidirectional
Approach Lighting System and
Runway 17 VASI/REIL Access
Roads and Walkways to the
leased premises in consider-
ation of the Federal Aviation
Administration establishing, op-
erating, and maintaining the
air traffic control tower at the
Airport; deleting Runway 13
NAVAIDS Identified as ALS,
LOC, GS, and MM together
with Remote Transmitter Site
No. 1 from Supplemental
w'
stown, Texa:
Number 961E
received at
Agent's Office
Courthouse,
Street, Suite
Christi, Texa
2:00 p.m., T
19, 1998, then
and read. Any
ter closing
returned unor
In general, th
of extend Rur
taxiway to m
end; widen, FE
and mark Rur
tend Runwa
taxiway to 01
end; install ner
sity Runway
system for Ru
habilitate aprc
access taxiwa
way center!'
install new be.
tower; install r
cone; inst
sedimentation
lated items.
Bidding docum
amined at:
Nueces Cour
901 Leopard 5
Corpus Ch
78401.
Shearer, Coyr
gineering C
Staples, Suite
Christi, Texas
TxDOT, Aviatic
E. Riverside
Tower, 5th
Texas 78704.
Bidding documr
tained at Tx
Division, mailin
E. 11th Street,
78701-2483 0:
dress: 150 E. F
South Tower,
tin, Texas 787
4517, upon d'
($50.00) dollar_
deposit will be
return of the co
documents in j
within fourteen
days following
bids.
Minimum wag(
been predeten
quired by law ar
in the specifica
All proposals s
have a Child I
ment completes
and social secr,
the individual or
and each paint
or owner with ar
terest of at lea
business entity
bid.
Cashier's the
check, bank r
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