Port Aransas South Jetty (Port Aransas, Tex.), Vol. 14, No. 19, Ed. 1 Thursday, May 10, 1984 Page: 8 of 18
This newspaper is part of the collection entitled: The South Jetty and was provided to The Portal to Texas History by the Ellis Memorial Library.
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Business
Pa^^A^ffureday^Ma^O^OM^outi^Jett}^^
Market briefs
by Henry C. (Hank) Gillespie
The CAT is out of the bag
A new investment device, CERTI-
FICATES of ACCRUAL on TREA-
SURY SECURITIES, or CATS are
becoming popular with the invest-
ment community these days. CATS
represent ownership in serially ma-
turing interest payments and princi-
pal payments on United States
Treasury Notes or Bonds. The
^coupon obligations or principal obli-
'^itaons are DIRECT OBLIGATIONS
of the Federal Government
CATS 'ace sold at discounts
depending off the length of time
remaining until maturity. For exam-
ple, for a one time payment of
around $107 today, a CAT will
mature to $1,000 in 20 years. Owners
of CATS receive a single payment on
the maturity date. They are offered
in registered form in $1,000 face
amounts.
As we mentioned earlier this year,
retirement plans are perfect vehicles
in which to own these little gems.
Other neat uses of CATS are
provision for children's educational
needs, the establishment of family
trusts, and as tax advantaged gifts to
charitable organisations.
For provision for children's educa-
tional needs, you would select a CAT
that matured at the time the
youngster was to enter college. If
you had a six year old, you would
buy enough CATS that mature in 12
years to provide for one year's
college costs. These, of course, vary
from school to school, but in general
you could figure $5,000. The cost to
fund that one year would be around
$1,000. Next year you would buy
another $5,000 face amount. The cost
would be about the same, all things
considered equal, since you would be
buying a 12 year maturity. The same
principle could be applied~to both
funding for family trusts and
charitable giving.
Below are listed some other uses
for the CAT, as well as some of their
more salient features:
FEATURES
•Purchased at a discount from par
•liquidity provided by an active
market.
•Yield to maturity guaranteed.
•No coupon payments means no
re-investment risk.
•Over 50 maturities to choose from
mm.
ISKPt
Dianne Gundrum is the new
manager of Aransas Harbors
Apartments. Gundrum took
over the position on March
26 and is excited about
making Port Aransas her new
home. She and her 13-yesr-
old daughter, Jeana, moved
to Port Aransas from Gulf-
port, MS. (Staff photo by
James Simmons)
H&R BLOCK* Tarpon
___ Street
THE INCOME TAX PEOPLE
•Estimated Taxes *Late Returns
•Ammended Returns
APPOINTMENTS VERY FLEXIBLE
Mondays 9-6
Call: 512/749-6338
If no ans.:749-4260 or 749-6315
-to meet your personal needs.
•Certificates available from $1,000.
USES
•Funding of IRAs and Keoghs.
•Funding of corporate pension/
profit sharing plans. .
•Alternatives to bank CDs.
•Matching up of specific future
liabilities.
•Generation of income against a
deferred tax loss.
In the same camp, but with a bit
different twist is the ZERO COUPON
BOND. As the name implies, this
bond pays no current interest. A
Zero Coupon Bond is a fixed income
security that is offered at a
substantial discount from their
$1,000 face amount With a Zero
Coupon, as is the case with CATS,
your return comes from the differ-
ence between the amount you paid
for the bond and ita face amount of
$1,000 at maturity. These bonds,
again like CATS, have no coupons,
pay no semi-annual interest and
have no current yield, hence the
name. The Zero Coupon Bond is
issued by both the Federal Govern-
ment as well as private corporations.
They range in maturity from two to
30 years.
Both Zero Coupons and CATS
have their place in your portfolio.
The basic difference is that the CATS
are obligations of the U.S. govern-
ment and Zero Coupon Bonds can
also be issued by private organiza-
tions. If you want more information
on either of these investments just
drop me a line in care of the paper.
With seven weeks of consolidation
under ita belt, the market just might
be trying to move upwards. It is still
a bit early to tell for sure, but you
might just check the maturity dates
on your CDs. More about that as it
becomes visible.
As usual, if you have any
questions, just write me in care of
the paper, P.O. Box 1116, Port
Aransas, Tx. 78373.
Until next week, good luck in the
markets....
Islandtown Music ready
to release first cassette
Islandtown Music Co., Inc. will
celebrate ha incorporation and the
releaae of it* first cassette album at a
promotional event to be held on
Sunday, May 13, in Port Aransas.
The corporation is made up of Port
Aransas residents James H. Beckner,
David R. Day, S. Lee Swank and
Michael W. Williams.
The new firm will operate as a
music publishing firm and as a
rt^ord company. Additional releases
rifll be made on its own Islandtown
label in the very near future.
The primary business function will
be the marketing and/or distributing
of original popular music written or
performed by selected writers and
performers throughout the country.
The title of its first album release
is “Port Aransas Turnaround,” an
anthology of ten songs written and
performed by Mike Williams. The
title song has an Island rhythm and
expresses the affection and affinity
the composer feels for his hometown.
Other songs on the album include
a dixieland selection, a lyrical waltz,
a contemplative spiritual ballad,
some standard-like ballads and some
whimisical country tunes either done
in a Texas swing or blues genre. Two
of the latter style songs will be
nationally distributed on a 45 rpm
single in July or August.
All songs were recorded last
winter at Hacienda Studios in Corpus
Christi under the guidance and
control of producer Bob Rohlf. Rohlf
is a civilian employee at the Naval
Air Station and is also widely known
as a steel guitar player with the
popular Gar Davis Band.
Gary Davis Band.
Beckner is associated with a local
restaurant in Port Aransas. He has
gained knowledge of the entertain-
ment field as a performer and as a
club owner. He is the president of
the corporation.
Day is a busmess-engineer-inven-
tor whose work is recognized in the
car wash industry. He serves the
company as vice-president.
Swank holds an MFA, and is an
arts columnist and businesswoman.
She serves the corporation as public
relations person and graphic arts
consultant.
Williams is a former lawyer and
university instructor who became an
entertainer and songwriter in the
1970s. He has an extensive catalog of
otginal music.
The corporation will maintain an
office in Port Aransas. The office
location will be announced at a later
date. All inquiries may be sent to
Islandtown Music, P.O. Box 1103,
Port Aransas, Mustang Island, Tex-
as, 78373.
* The* ggssette, "Port Aransas Turn-
around” 4W1F hq available on and
after May 14 at several Port Aransas
businesses as well as local record
stores in Corpus Christi and the
surrounding areas.
Cornida Mexicana
Buenas Diaz, a family owned and operated restaurant, is now
open at the corner of Beach and Station Streets. The restaurant
features Mexican food and will offer daily specials. Operating
hours are 6 a.m. to 10 p.m. and breakfast taquitos will be
served. Pictured are Diana and Juventino Chapa, owners, and
nor pictured cc owners, David and Giorida Diaz. (Staff photo
by James Simmons)
Mustang Royale
begins marketing
City Sales
Tax Summary
City
Net Payment
This Period
Comparable Payment 1984 Payments
Prior Year To Date
1983 Payments
To Date
% Change
To Date
Rockport
$55,753.25
$64,876.2fj
$183,049.92
$172,217.63
6.29%
Port Aransas
$33,488.47
$30,409.06
$ 78,317.79
$ 74,457.88
5.18%
Aransas Pass
$46,398.64
$54,571.20
$175,994.42
$169,326.66
3.94%
Ingleside
'116,477.87
$18,093.15
S 50,854.57
$ 47,319.20
7.47%
By James Simmons
With the construction of Mustang
Royale, Resort Investment Corpora-
tion is hoping to bring the first
all-season resort to Mustang Island,
according to Bill Bobo, director of
marketing.
“The most significant thing about
the project is that it will add a new
dimension to the area,” said Bobo.
“Two million dollars will be spent on
inside amenities alone, not counting
outdoor amenities such as swimming
pools and tennis courts.”
The 16-story condominium will
stand on a 13-acre area on Park Road
53 fronting 300 feet of beach.
The structure will be built in two
phases using a vertical phasing
technique.
The first 11 stories of the building
will be constructed initially, constitu-
ting the first phase of the project. At
the time of completion the decision
will be made to construct the
additional five floors, the second
phase.
With sales beginning this week.
construction will begin when the first
phase is 80 percent sold. Bobo said
that this should be in January or
February of 1985.
Phase one will be constructed of
steel and concrete and will offer 10
floors of living area, one floor of
amenities and will house 160
units. Upon completion the project
will consist of 244 units.
Units offered will be one, two and
three bedroom and will range in size
from slightly over 500 square feet to
slightly over 1200 square feet,
according to Bobo.
Price tags on the units will be from
$78,000 to $140,000.
Bobo added that the grounds will
be lushly landscaped with native
vegetation that will include a
boardwalk to the beach.
“We’re trying to blend the
building in with nature as much as
possible,” said Bobo. “‘We have
been looking in the area for a long
time and Mustang Island has an
appeal of its own.”
For area cities
Sales tax receipts up
Port Aransas sales tax receipts are
up for the year to date as well as
receipts for three other area cities.
State Comptroller Bob Bullock sent
checks Friday, May 4, totaling $98.5
million in local sales tax payments to
the 988 cities that levy the
one-percent city sales tax.
“These payments are running 12.5
percent ahead of last year,” said
Bullock. “And for the first time this
year, we can say that virtually ail oi
this increase came from growth in
tax collections and not from the
changes in our bookkeeping the
legislature made when they moved
up due dates for the sales tax last
year.”
Port Aransas has experienced an
increase of 5.18 percent in receipts
collected since the beginning of the
year, compared to those collected as
of this time last year.
Payments for the year to date have
totaled $78,317.79 comparable to a
total of $74,457.88 received by May
of 1983.
Business update
Owners John and Dee Fawley will be opening the Texas Rebel
Smokehouse next to the Coffee and Donut Place at 222 Beach
St. before Memorial Day weekend. The smokehouse will
specialize in pressure smoked barbecue, a technique new to
South Texas according to Fawley. They will offer brisket, ribs,
smoked potatoes and custom smoking. Operating hours will be
from 11 a m. to 8 p.m. seven days a week Debby Willey will be
manager.
Dredging of the Island Moorings harbor is complete according
to Latitude 27 President, Jim Pair. The remainder of the
dredging for the project should be completed within 30 days
Bulkheads are being constructed in the harbor area. Pair added
that streets, utilities and a walkway around the harbor will be
Finished by November, and the sites will be ready for
construction. Also at that time the harbor will be ready for the
construction of boat slips
The city’s check for May which
reflects sales made during March,
amounted to $33,488.47 up from
last year's May payment of
$30,409.06.
Aransas Pass has experienced an
increase,of 3.94 percent in 1984,
having collected $175,994.42, com-
pared to 1169,326.66 received by this
time last year.
Payment for this period lor
Aransas Pass fell below the payment
made for the same period in 1983. A
check for $46,398.64 was received
this month for sales made in March,
compared to an amount of $54,571.20
received in May of last year.
Rockport also experienced a
decrease for this period but is still
showing a rise in receipts from last
year. The city received a check this
month for $55,753.25 and they
received a check for $64,876.28 this
period last year.
For the year to date, Rockport has
received a total of $183,049.92, a
6.29 percent increase from
$172,217.63 received as of May last
year.
Sales tax receipts for Ingleside are
up 7.47 percent for 1984 with
$50,854.57 received this year
compared to an amount of $47,319.20
received by May 1983.
Ingleside's payment for this period
was down from last year's as they
received $16,477.87 this month and a
payment of $18,093.16 for May 1983.
Across the state Houston received
the largest check, $17.9 million, for a
total of $67.7 million for 1984, up
five percent from last year. Dallas’
check was for $11.9 million, bringing
the city’s total 1984 payments to
$42.4 million, 16 percent ahead of
1983. San Antonio received $5.9
million for a 1984 total of $20.8
million, an 18 percent increase.
Austin’s check for $4 million
increased year-to-date payments to
$14.7 million, up 24 percent.
The Harbour Lifestyle
Island Moorings
Private dock, canal front living just minutes from deep
sea fishing in the Gulf of Mexico. Steps away from white
sand beaches. Less than 2 miles from Port Aransas.
A 3,500-foot paved landing strip awaits your private
aircraft. A 35-acre harbour is under Construction. A
300-slip marina, yacht club and condominium sites
arp n'anned. Canal homesites now available from
the low 40 s.
The Harbour lifestyle of Island Moorings.
Destined to become the toast of any coast.
MGDRINGS
P.O. Box 1637 Port Aransas, Texas 78373 • 512-749-4166
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Judson, Mary. Port Aransas South Jetty (Port Aransas, Tex.), Vol. 14, No. 19, Ed. 1 Thursday, May 10, 1984, newspaper, May 10, 1984; Port Aransas, Texas. (https://texashistory.unt.edu/ark:/67531/metapth840880/m1/8/?q=%221961-07%22: accessed August 15, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Ellis Memorial Library.