HomeMy WebLinkAboutResolutions - 1983.12.08 - 11492' oy,
December 8th, 1983
Miscellaneous Resolution # 83
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 report.
PLANNING AND BUILDING COMMITTEE
1 HEWEBY AF ROVE TH TCONG R75OLIIIION
71
#83371 December 8, 1983
8th this 19 83 - ".
December day of
. ALLEN -- Coun ity Clerk/Register of Deeds
Moved by Hobart supported by Perinoff the resolution be adopted.
AYES: McConnell, McDonald, McPherson, Moffitt, Olsen, Page, Perinoff,
Pernick, Rewold, Wilcox, Aaron, Caddell, Calandro, Doyon, Foley, Fortino, Gosling,
Hobart, Jackson, R. Kuhn, S. Kuhn, Lanni, Law. (23)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted. ,
STATE OF MICHIGAN)
COUNTY or OAKLAND)
1, Lynn D. Allen, Clerk of the County of Oakland and having a seal,
do hereby certify that I have compared the annexed copy of
Miscell_A neous Resollitina 83371 adDpted by the Oakland County ROard of
Commissioners at their meeting held on December 8, 1983
with the orginial 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