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Miscellaneous Resolution # 36916 August 7, 1986
By: PLANNING AND BUILDING COMMITTEE--Anne M. Hobart, Chairperson
In Re: ROAD COMMISSION BORROWING
To the Oakland County Board of Commissioners
Mr. Chairperson, Ladies, and Gentlemen:
WHEREAS Act No. 143 of the Public Acts of 1943, as amended, authorizes
the Board of County Road Commissioners to borrow money for certain purposes
and to issue its notes in anticipation thereof, and to pledge for payment
thereof, future revenue derived from state collected taxes returned to the
county for county road purposes, the maximum amount which may be borrowed
to be previously authorized by the Board of County Commissioners.
NOW THEREFORE BE IT RESOLVED that the Board of County Road Commissioners
of the County of Oakland is hereby authorized to borrow a sum of money
not to exceed $4,000,000 to provide funds for the improvement of county
local roads on a special assessment basis, and to issue its notes therefor,
pursuant to said Act 143, at an interest rate not to exceed the maximum
rate of interest permitted by law at the time of sale, pledging for the payment
thereof future revenues derived from state collected taxes returned to the
county for county road purposes. The full faith and credit of the county
shall not be pledged for the payment of such notes.
Mr. Chairperson, on behalf of the Planning and Building Committee,
I move the adoption of the foregoing resolution.
Planning and Building
I HE' Y APPROVE I'4E FOR +PING RESOLIMON
#86216 August 7, 1986
Moved by Hobart supported by Perinoff the resolution be adopted.
AYES: Rewold, Rowland, Skarritt, Webb, Wilcox, Calandro, Doyon,
Fortino, Gosling, Hobart, R. Kuhn, S. Kuhn, Lanni, McConnell, M.cDonald,
McPherson, Moffitt, Nelson, Olsen, Page, PerinOff, Pernick, Price.
(23)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was
adopted.
STATE OF M1cH1Gind4
COUNTY OF OAKLAND)
i, Lynn D. Allen, Clerk of the County of Oakland and having a
seal, do hereby certify that I have compared the annexed copy . of
Miscellaneous Resolution adopted by the Oakland County Board of Commissioners
at their meeting held on August 7, 1986 _
with the original record thereof now remaining in my office,
and that it is a true and correct transcript therefrom, and
of the whole thereof.
In Testimony Whereof, I have hereunto set my hand and affixed
the seal of said County at Pontiac, Michigan
this 71-h day of Au.apas-t. 1986
Regilster of Deeds-
Allen. Coun 1571-7T: Allen, Coilay Clerk/