HomeMy WebLinkAboutResolutions - 1985.02.28 - 11028February 28y 1985
RESOLUTION NO. 85o64
BY: PLANNING & BUILDING COMMITTEE-ANNE HOBART, CHAIRPERSON
IN RE: DRAIN COMMISSIONER-CADDELL DRAIN
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
MR. CHAIRMAN, LADIES AND GENTLEMEN:
WHEREAS, proceedings have been taken by the Statutory
Drainage Board for the location, establishment and construction
of the Caddell Drain under the provisions of Chapter 20 of Act
No. 40 of the Public Acts of 1956, as amended, pursuant to a
petition filed with the Oakland County Drain Commissioner; and
WHEREAS, the said Drainage Board by resolution adopted on
January 24, 1985, authorized and provided for the issuance of
bonds in the aggregate principal amount of $3,475,000 in anti-
cipation of the collection of an eaual amount of special assess-
ments against the City of Farmington Hills, the City af Farmington,
the City of Novi and the County of Oakland, said special assess-
ments having been duly confirmed by said Drainage Board; and •
WHEREAS, said bonds are to be designated Drain Bonds, are
to be dated May 1, 1985, will bear interest at a rate not exceed-
ing 15% and will be subject to redemption prior to maturity in
accordance with the provisions of said resolution; and
WHEREAS, said Drainage Board deems it advisable and neces-
sary to obtain from this Board a resolution consenting to the
pledge of the full faith and credit of the county on the afore-
said bonds; and
WHEREAS, the said drainage project is immediately necessary
to protect and preserve the public health and, therefore, it is
in the best interest of the County of Oakland that said bonds be
sold.
NOW, THEREFORE,
OF COMMISSIONERS:
RESOLVED BY THE OAKLAND COUNTY BOARD
1. Pursuant to the authorization provided in Section 474
of Chapter 20 of the Drain Code of 1956, as amended, the Oakland
County Board of Commissioners does hereby irrevocably pledge the
full faith and credit of the County of Oakland for the prompt
payment of the principal of and interest on the Caddell Drainage
•District Drain Bonds, and does agree that in the event any public --
corporation assessed shall fail or neglect to account to the County
Treasurer of the County of Oakland for the amount Of any special
assessment installment and interest, when due, then the amount
thereof -shall be advanced immediately from county fund't, and the
County Treasurer is directed to immediately make such advancement
to the extent necessary.
2. In the event that, pursuant to said pledge of full
faith and credit, the County of Oakland advances out of county
funds, all or any part of said installment and interest, it shall
be the duty of the County Treasurer, for and on behalf of the
County of Oakland, to take all actions and proceedings and pur- •
Sue all remedies permitted or authorized by law for the reimburse-
ment of such sums so paid.
3. All resolutions and parts of resolutions insofar as the
same may be in conflict with the provisions cf this resolution
be and the same hereby are rescinded.
/1"1
Chairperson
A PP ROVFT 1 Tfl
/1."Jar;
day of
my office.
signature this 28thday of Febp,14;,y , 1985,
Co=tv Clerk
MR. CHAIRMAN, cn behalf of the Planning and Building Committee,
move the adoption of the foregoing resolution.
PLANNING AND BUILDING COMMITTEE
ADOPTED: Yeas -
Gosling, Hassberger, Hobart, R. Kuhn, Lanni, Law, McDonald, McPherson, Moffitt,
Moore, Nelson, Olsen, Page, Pernick, Price, Rewold, Skarritt, Webb, Wilcox,
Aaron, Caddell, Calandro, Doyon, Fortino. (24)
Nays - None. (0)
STATE OF MICHIGAN )
) SS:
COUNTY OF OAKLAND )
the undersigned, the duly qualified and acting County
Clerk of the County of Oakland, do hereby certify that the fore-
going is a true and complete copy of a resolution adopted by a
two-thirds vote of the members elect at a. regular meeting of
the Oakland County Board of Coiamissioners, held on the 28th
February. 1985, the original of which is on file in .
IN WITNESS WHEREOF, I have hereunto affixed my official