HomeMy WebLinkAboutMinutes City Council - 07/10/1962 - Special1
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PRESENT
Mayor Ben F. McDonald
Commissioners:
Dr. James L. Barnard
J. R. de Leon
M. P. Maldonado
W. J. Roberts
CITY OF CORPUS CHRISTI, TEXAS.,
SPECIAL COUNCIL MEETING
July 10, 1962
11:00 a.m.
City Manager Herbert W. Whitney
City Attorney I. M. Singer
City Secretary T. Ray Kring
Mayor Ben F. McDonald called the meeting to order.
The City Secretary called the roll of those in attendance.
Motion by de Leon, seconded by Maldonado and passed that the absence of
Commissioners Swantner and Young be excused for cause.
Mayor McDonald anlypunced the purpose of the special meeting was to
receive proposals on the sale of $1,250,000 City of Corpus Christi Refunding Bonds
Series 1962, and such other business as may properly come before the Council, and
announded.that the time for receiving sealed proposals was now terminated.
Proposals were opened and read on the sale of $1,250,000 City of Corpus
Christi Refunding Bonds, Series 1962, from the following; Rauscher Pierce & Co.,
and Associates; Merrill, Lynch, Pierce, Fenner & Smith, Inc. and Associates;
Rowles, Winston & Company, and Associates; Underwood, Neuhaus & Co., Inc. and
Associates; Harris Trust & Savings Bank and Associates; Blythe & Co., and Associates;
First National City Bank and Associates; Continental Illinois National Bank & Trust
Company of Chicago and Associates; First Southwest Company and Associates; Republic
National Bank of Dallas and Associates; First National Bank in Dallas, and Associates.
The foregoing_propoeale were referred to Director of Finance Harold
Zick for tabulation and recommendation, and a brief recess was declared for this
purpose.
After a brief recess, Mayor McDonald reconvened the meeting.
Director of Finance Zick reported that the most advantageous proposal
for the City had been received from Bowies, Winston & Company, and Asaociatea on
the Refunding Bonds at an effective interest rate of 2,69$18X; and City Manager
Whitney recommended acceptance of the proposal, and presented an ordinance,
authorizing tha foregoing sale of bonds as recommended.
(Bid Tabulation 8s a in File.)
Mr. Whitney presented for the consideration of the Council an ordinance.
The ordinance was read by the City Secretary. The Mayor presented to the Council a
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Special Council Meeting
July 10, 1962
Page #2
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communication in writing pertaining to said proposed ordinance, as follows:
"Corpus Christi, Texas,
July 10, 1962
TO THE CITY COUNCIL
CORPUS CHRISTI, TEXAS
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Gentlemen:
For the reasons set forth in the emergency clause of the foregoing ordinance
a public emergency and imperative necessity exist for the suspension of the Charter
rule or requirement that no ordinance or resolution shall be passed finally on the
date it is introduced, and that such ordinance or resolution shall be read at three
meetings of the City Council, I, therefore, hereby request that you suspend said
Charter rule or requirement and pass this ordinance finally on the date it is
introduced, or at the present meeting of the City Council.
Respectfully,
/s/ Ben F. McDonald,
Mayor."
Commissioner de Leon moved that the Charter provision prohibiting ordinances
from being passed finally on the date introduced be suspended for the reasons
stated in the written request of the Mayor and stated in the emergency clause of
the ordinance. The motion was seconded by Commissioner Maldonado. The motion
was carried by the unanimous vote of the City Council, Via:
AYES: Commissioners Barnard, de Leon, Maodonado and Roberts.
NOES: None.
The Mayor requested that the records show that he voted Aye. This was
done.
Commissioner Barnard moved that the ordinance be passed finally. The
motion was seconded by Commissioner de Leon. The motion was carried by the follow-
ing vote:
done.
AYES: Commissioners Barnard, de Leon, Maldonado and Roberts.
NOES: None.
The Mayor requested that the records show that he voted Aye. This was
The Mayor announced that the ordinance had been passed. The ordinance
is as follows:
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Special Council Meeting
July 10, 1962
Page #3
ORDINANCE NO. 6568
AUTHO',IZING THE ISSUANCE OF $1,250,000,00 CITY OF CORPUS CHRISTI, TEXAS, AIRPORT
REFUNDING BONDS, SERIES 1962; BEARING INTEST AT THE RATES HEREINAFTER SET FORTH;
FOR THE PURPOSE OF REFUNDING A LIKE AMOUNT OF LEGALLY ISSUED AND OUTSTANDING BONDS
OF SAID CITY; PROVIDING FO, THE LEVY, ASSESSMENT AND COLLECTION OF A TAX TO PAY THE
INTEREST AND CREATE A SINKING FUND FOR THE REDEMPTION THEREOF; PRESCRIBING THE FORM
OF BONDS AND DECLARING AN EMERGENCY.
Mayor McDonald suggested that the good faith checks of the unsuccessful
bidders be returned at this time, and there being no objections from the Council,
it was so ordered, and it was donee
There being no further business to come before the Council, Mayor
McDonald declared the special meeting adjourned.
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./(4.7#e/ 171
THE MATE OF TEXAS . .
COUNTY OF NUECES NOTICE OF SPECIAL MEETING
CM./ ./ OF CORPUS CHRISTI
TO THE MEM3ERS OF THE CITY COUNCIL, JJ14, CITY MANAGER, ';'1E Cyd SECRETkRZ
AED TEE CITZ ATTORNEY TO THE CSL OF CORPUS CHRISTI, TEARS:
NOTICE is hereby given that a special meeting of the City Council of the
City of Corpus Christi, Texas, will be held in the City of Corpus Christi, Texas,
ta the Co-cilChamber of the City Hall, at 11:00
o'clock A. M. on the 10th
day of July , 1962, for the purpose of receiving proposals on the
sale of $1,250,000 City of Corpus Christi Refunding Bonds, Series 1962, and
such other business as may properly come before the Council.
DATED this the 10th day of July
1962
BEN— MC DONALD, Mayor
City of Corpus Christi, Texas
CONSENT TO MEETING
We, the undersigned members of the City Council, the City Manager, the
City Secretary and the City Attorney of Corpus Christi, Texas, hereby accept
service of the foregoing notice, waiving any and all irregularities in such service
and consent and agree that said meeting shall be at the time and place therein,
named and for the purpose therein stated.
JTNI YOUNG •
T W. U
City manager
City Attorney