HomeMy WebLinkAboutResolutions - 1980.08.14 - 11828RESOLUTION NO. 9518
RE: NOTICE OF INTENT TO ISSUE
REVENUE BONDS
BY:
TO: THE OAKLAND COUNTY BOARD OF' COMMISSIONERS
MR. CHAIRMAN, LADIES AND GENTLEMEN:
WHEREAS, the County proposes to issue revenue bonds in
an amount not to exceed $4,850,000 to finance the cost of im-
proving, enlarging and extending the Clinton-Oakland Sewage
Disposal System and the Paint Creek Interceptor by acquisition
of the Oakland-Orion Sewage Disposal System in the Township of
Orion.
NOW THEREFORE BE IT RESOLVED . AS FOLLOWS:
1. That this Board of Commissioners does hereby approve
and adopt the following Notice of Intent concerning the issuance
of said bonds, to-wit:
COUNTY OF OAKLAND
OAKLAND-ORION SEWAGE DISPOSAL SYST:
NOTICE OF INTENT TO ISSUE -?,EVNUE
BONDS IN THE PRINCIPAL Y10-flqT OF
NOT TO EXCEED $4,850,000.0•, WITH-
OUT A VOTE OF ELECTORS.
TO ALL ELECTORS AND TAXM---- r7 THE
COUNTY OF OAKLAND AND OT-2 - I-1:RESTED
PARTIES:
NOTICE IS HEREBY GIVEN, that the Board of Commissioners
of the County of Oakland intends to take proceedings to authorize
the issuance of Revenue Bonds in the aggregate principal amount of
not to exceed $4,850,000.00 to defray part of the cost of
improving, enlarging and extending its Clinton-Oaklanc] Sewage
Disposal System and the Paint Creek Interceptor in the Township of
Orion by acquisition of the Oakland-Orion Sewage Disposal System
at a total estimated cost of $4,850,000.00. The revenue bonds
will bear interest at a rate estimated to be 8% per annum, but not
to exceed 10% per annum.
NOTICE IS FURTHER GIVEN, that the said bonds will be
issued pursuant to the provisions of Act 94, Public Acts of
Michigan, 1933, as amended. The principal of and interest on the
bonds will be payable primarily from the net revenues derived from
the payments by the Township of Orion for sewage collection,
transportation and disposal from areas to be served in the
Township by the facilities to be now acquired, and the Township of
Orion has, as a wholesale customer, contracted to purchase and
pay for such sewage disposal services supplied by the County as
provided in a Contract for Services, dated as of August 1, 1980,
available for inspection at the offices of the County Executive
and Department of Public Works and at the offices of the Township
of Orion, and the obligation to make the payments is a general
obligation of the Township, payable, if necessary, from limited
taxes levied for its general fund within applicable statutory tax
limits, although the Township expects to pay the necessary amounts
from the total revenues of the sewage disposal facilities in
operation in the Township pursuant to its Ordinances. The County
and the Township of Orion will contract and covenant to charge and
to pay sufficient amounts for sewage disposal services to pay the
operation and maintenance expenses of the Township, the County and
the Oakland-Orion System for sewage disposal and to pay the
principal of and interest on the above described revenue bonds.
NOTICE IS FURTHER GIVEN, that this notice is given to
and for the benefit of all electors and taxpayers of the County of
Oakland in the State of Michigan, and other interested parties in
the County, to inform them that said bonds will be issued without
submitting the question of their issuance to a vote of the
electors of the said County, unless within 45 days from the
publication of this notice, a petition signed by not less than 10%
of the registered electors from the said County requesting a
referendum upon the question of the issuance of such bonds, is
filed with the undersigned County Executive or the County Clerk,
in which event the bonds will not be issued unless and until
approved by a majority of the electors from the said County
qualified to vote and voting thereon at a general or special
election.
This notice is given by order of the Board of
Commissioners in accordance with the provisions of Section 33 of
Act No. 94, Public Acts of Michigan, 1933, as amended.
-2--
DANIEL T. MURPHY
OAKLAND COUNTY EXECUTIVE
Oakland Service Center
1200 North Telegraph Road
Pontiac, Michigan 48053
Telephone: (313) 858-0484
Dated: August ,1980.
2. That it is hereby found and determined that the
Oakland Press is the newspaper reaching the largest number of
persons to whom this said notice is directed in the County of
Oakland.
3. That it is hereby determined that the aforesaid
notice provides information sufficient adecuately to inform the
electors and taxpayers of the County of Oakland of the nature of
the issue to which the said notice pertains and of their right to
file a petition for referendum requesting an election on the
issuance of the bonds.
4. That the County Clerk is hereby directed to publish
said notice once in the newspaper above named.
MR. CHAIRMAN, I move the adoption of the foregoing
Resolution.
STATE OF MICHIGAN )
ss:
COUNTY OF OAKLAND )
I, the undersigned, the duly qualified and acting County
Clerk of the County of Oakland do hereby certify that the
foregoing is a true and complete copy of proceedings adopted at a
regular meeting of the Board of Commissioners held on the 14th
day of August , 198 the original of which proceedings
is on file in my office.
IN WITNESS WHEREOF, I have hereunto affixed my official
signature this 15th day of August , A.D. 1980.
Lynn D. Allen, County Clerk
NON-REFERENDUM AFFIDAVIT
STATE OF MICHIGAN )
COUNTY OF OAKLAND )
LYNN D. ALLEN, being first duly sworn, deposes and says
that he is the County Clerk of the County of Oakland, Michigan, and
as such is the recording officer of said County; that the Notice of
Intent to Issue Revenue Bonds in the Principal Amount of Not to
Exceed $:sQ,was duly published in The Oakland Press, on
the 30th day of August , 1980, and that no petition requesting
a referendum upon the issuance of such bonds has been filed with
him or in his office.
SS:
Lynn D. A en
Subscribed and sworn to before me
this day of , A.D. 1980.
Notary Public, Oakland County, ?
My commission expires:
ichigan