HomeMy WebLinkAboutResolutions - 1978.08.03 - 12582RESOLUTION NO. 8569
: OAKLAND COUNTY WATER SUPPLY AND S1 GE
DISPOSAL SYSTEMS FOR AVON TOWNSHIP
SEWER EXTENSION NO. 2
BY: PLANNING AND BUILDING COMMITTEE
TO: THE OAKLAND COUNTY BOARD OF COMMISSIONERS
MR. CHAIRMAN, LADIES AND GENTLEMEN:
WHEREAS, the Oakland County Drain Commissioner, as
County Agency, has approved and adopted, and has submitted to
this Board of Commissioners f6r its approval, revised estimates
of the cost for the acquisition and construction of sewage dis-
posal facilities for the Oakland County Water Supply and Sewage
Disposal Systems for Avon Township Sewer Extension No. 2 (which
revised estimate is attached as Revised Exhibit "B" Sewer to
the hereinafter mentioned contract), all prepared by Johnson
& Anderson, Inc., consulting engineers; and
WHEREAS, the Township Board of said Township of Avon
has approved the said revised exhibit to said Contract by resolu-
tion of its Township Board and has authorized and directed that
said approval be certified for and on behalf of the Township
by the Supervisor and Township Clerk, which resolution reads
as follows:
At a REGULAR meeting of the Township Board ^0
of the Township of Avon held at the Town Hall in said township
on the 19th day of JULY 978, at 7 :30 o'clock
P.M., Eastern Daylight Time.
PRESENT:
ABSENT:
Supervisor BORDEN, CLERK SPENCER, TREASURER KNUDSEN,
TRUSTEES NOWICKI, HEALY, SCHMITTEL
TRUSTEE CORBIN
The Clerk presented the Revised Exhibit Sewer
referred to in the following resolution. The folA -eing resolu-
tion was offered by HEALY and seconde.6 by
SCHMITTEL
WHEREAS, the Township of Avon has heretofore entered
with the County of Oakland into a Contract, Oakland County Water
Supply and Sewage Disposal Systems for Avon Township, Sewer
Extension No. 2, dated as of January 1, 1977, to which is at-
tached an Exhibit "B" Sewer on which the cost of the sewage
disposal project is estimated to be $23,800,000, which cost
is to be financed by a combination of Federal EPA and State
DNR pollution abatement grants and the issuance of county bonds
in the amount of $15,750,000; and
WHEREAS, the county has issued and sold $15,750,000
of Oakland County Water Supply and Sewage Disposal Bonds Avon
Township Systems Sewer Extension No. 2, dated June 1, 1978,
and in the meantime the county has obtained construction bids
for part of the project which bids have been sufficiently in
excess of the project costs estimated and set forth in Exhibit
"B" Sewer so that it is necessary and desirable to prepare
revisions to said estimated costs and said exhibit as set forth
on a Revised Exhibit "B" Sewer submitted herewith; and
WHEREAS, it is provided in paragraph 8 of said Contract
as follows:
8. In the event that it shall become necessary to
increase the estimated cost of the Sewer System as hereinbefore
stated, or if the actual cost of the Sewer System shall exceed
the estimated cost, whether as the result of variations or
changes permitted to be made in the approved plans or otherwise,
then (without execution of any further contract or amendment
of this contract) the Township Board may, by resolution adopted
within fifteen days after the receipt of construction bids,
direct that a portion of the system be deleted sufficient to
reduce the total cost to an amount which shall not exceed the
total estimated cost as hereinbefore stated by more than 5%,
provided that such deletion shall not materially change the
general scope, overall design and purpose of the Sewer System,
or in the absence of the adoption of such a resolution the
township shall pay or procure the payment of the increase or
excess in cash, or county bonds in an increased or additional
amount shall (upon adoption of an authorizing resolution there-
for by the Board of Commissioners) be issued to defray such
increased or excess cost, to the extent that funds therefor
are not available from other sources: Provided, however, that
no such increase or excess shall be approved and no such increased
or additional county bonds shall be authorized to be issued,
nor shall the county enter into any contract for acquisition
or construction of the Sewer System or any part thereof or incur
any obligation for or pay any item of cost therefor, where the
effect thereof would be to cause the total cost of the Sewer
System to exceed by more than 5% its total estimated cost as
hereinbefore stated, unless the Township Board shall have
previously adopted a resolution approving such increase or excess
and agreeing that the same (or such part thereof as is not
available from other sources) shall be paid or its payment pro-
cured by the township in cash or be defrayed by the issuance
of increased or additional payments agreed to be made by the
township to the county in the manner hereinbefore provided:
Provided, further, that the adoption of such resolution by the
Township Board shall not be required prior to or C."3 a condition
precedent to the issuance of additional bonds by county,
if the county has previously issued or contracted' ,: sell bonds
to pay all or part of the cost of the project and issuance
of the additional bonds by the county, if the county has pre-
viously issued or contracted to sell bonds to pay all or part
of the cost of the project and the issuance of the additional
bonds is necessary (as determined by the county) to pay such
increased, additional or excess costs as are essential to com-
pletion of the project according to the plans as last approved
prior to the time when the previous bonds were issued or con-
tracted to be sold.
; and
WHEREAS, it is desirable, although not necessary,
for this Township Board to approve the cost increases set forth
on Revised Exhibit "B" Sewer, thereby to indicate its willingness
and ability to raise the additional funds necessary to pay the
increased local share of the cost of said project and to assist
the county in obtaining increases in the Fe ,ieral EPA and State
DNR pollution abatement grants for said project.
THEREFORE, BE IT RESOLVED BY THE TOWNSHIP BOARD OF
THE TOWNSHIP OF AVON, OAKLAND COUNTY, MICHIGAN, as follows:
1. That the Revised Exhibit "B" Sewer to the Contract,
Oakland County Water Supply and Sewage Disposal Systems for Avon
Township, Sewer Extension No. 2, as submitted, between the County
of Oakland and the Township of Avon, which Contract (1) provides
for the acquisition and construction of the Sewer Extension
No. 2 in Avon Township by the County, (2) describes the location
and cost of said project, (3) establishes the cost thereof to
be paid by said contracting township, and (4) provides for other
matters pertinent thereto, be, and the same hereby is approved
as an increase in the cost of said project to be funded by the
issuance by the County of additional bonds as provided in para-
graph 8 of said Contract, and that the Supervisor and Township
Clerk be and they hereby are authorized and directed to certify
the approval on behalf of the Township of Avon of said Revised
Exhibit "B" Sewer.
2. That a copy of said Revised Exhibit "B" Sewer
be attached to the minutes of this meeting.
Carried unanimously.
ADOPTED: Yeas -
Nays -
Absent -
Borden, Spencer, Knudsen, Nowicki, Healy, Schmittel
None
Corbin
$ 1,576,776.52 $ 1,576,776.52
459,800.00
698,200.00
776,000.00
260,953.62
75,000.00
7,000.00
6,000.00
2,000.00
3,300.00
8,357.67
63,731.00
40,325.00
66,450.00
2,594,515.11
4,017,500.00
Project Administration
Inspection
Easement Acquisition
System Acquisition
I.C.R. System, 0 & M Manual & Sewer Ordinance
C.P.A. Reports
Bond Prospectus
Bond Printing
Publishing
Act 347 Permit
DNR Fee
Financial Consultant
Bond Counsel
Contingency
Capitalized Interest
REVISED' 6/30/78
0.C.W.S. & S.D.S. FOR AVON TOWNSHIP
EXTENSIONS NO. 2 (SEWER)
(Based on latest construction estimate from Johnson & Anderson, bids received
for Contracts 4, 5, 6, 9 & 13 and anticipated State and Federal grants).
Contract Total
1
2
$ 2,005,105.80
3
2,579,765.30
4
2,416,170.70
5
2,295,845.70
6
2,290,458.00
7
1,941,419.20 •
8
2,711,685.30
9
2,364,020.00
10
2,178,464.80
11
1,272,560.50
12
1,605,620.88
13
1,698,744.90
740,000.00
Sub-total
Construction
Engineering
Consulting Engineer (Design)
Consulting Engineer (Staking & Layout)
Soil Borings
$ 26,099,861.08
$ 1,239,365.35
309,300.00
28,111.17
ib-total $ 36,755,770.00
Less Step I Grants
E.P.A. $ 41,316.00
State 2,754.00
$ 44,070.00
Less Step 3 Grants Received
L.P.A. $ 6,455,100.00
State 438,904.00
$ 6,894,004.00
Less Anticipated Step 3 Grants
E.P.A. $ 2,895,500.00
State 197,196.00
$ 3,092,696.00
Total Estimated Bond Issue
Less Bonds Sold June 21, 1978
44,070.00
$ 6,894,004.00
$ 3,092,69600
$ 26,725,000.00
$ 15,750,000.00
Total Estimated 2nd Bond Issue $ 10,975,000.00
REVISED EXHIBIT "B" SEWER
Township Supervisor
Township Clerk
STATE OF MICHIGAN )
COUNTY OF OAKLAND )
We, the undersigned, the duly qualified and acting Township Supervisor
and Township Clerk of the Township of Avon, Oakland County, Michigan, do hereby
certify that the foregoing is a true and complete copy of proceedings taken at
a regular meeting of the Township Board of the Township of Avon held on the
19th day of July, 1978, the original of which is on file in the-N-44E-evg-e office.
IN WITNESS WHEREOF, we have hereunto affixed our official signatures
this 21st day of July, A.D., 1978.
THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS
OF THE OAKLAND COUNTY, MICHIGAN, as follows:
1. That said resolution and revised estimate be and
the same are hereby accepted and approved, that the County Clerk
shall endorse thereon the fact of such approval, and that the
same shall be returned to the County Agency.
2. That said approval by the County of Oakland and
the Township of Avon be and the same hereby is - td as the
basis by the County for the issuance of additior. Honds as
provided in paragraph 8 of said Contract and fo: he application
to the Federal EPA and State DNR for 'increased grants for said
sewage disposal project, the 'resolution authorizing said bonds
being as follows:
SERIES B
BOND RESOLUTION
WHEREAS, the Oakland County Board of Commissioners,
by Miscellaneous Resolution No. 8342, adopted on February 16,
1978, authorized the issuance of $15,750,000 of Oakland County
Water Supply aNd Sewage Disposal Bonds - Avon Township Systems,
Sewer Extension No. 2, dated June 1, 1978, in anticipation of
payments to the County by the Township of Avon pursuant to the
Contract dated as of January 1, 1977, whereby the County agrees
to construct and finance said Oakland County Water Supply and
Sewage Disposal Systems for Avon Township, Sewer Extension No.
2 and the Township agrees to pay the cost thereof, based upon
an estimated cost of $23,800,000 and as represented by the
$15,750,000 of bonds issued by the County to finance the local
share of the estimated cost of said project after the application
of the estimated proceeds of Federal EPA and State DNR pollution
abatement grants to said project cost; and
WHEREAS, revised estimates of cost have been prepared
by the Consulting Engineers, based upon construction bids for
the construction of parts of said sewage disposal project pur-
suant to said Contract, in amounts substantially in excess of
original estimated cost, so that it has been necessary to revise
the said estimated cost from $23,800,000 to $36,755,7, which
revision makes necessary the issuance by said County of addi-
tional bonds in the amount of $10,975,000, after application
against said increased cost of the amount of available and
estimated increased Federal and State grants, as appears from
the Revised Exhibit "B" Sewer submitted to and approved by this
Board of Commissioners; and
WHEREAS, it is provided in paragraph 8 of said Contract
as follows:
"8. In the event that it shall become necessary
to increase the estimated cost of the Sewer System as
hereinbefore stated, or if the actual cost of the
Sewer System shall exceed the estimated cost, whether
as the result of variations or changes permitted to
be made in the approved plans or otherwise, then
(without execution of any further contract or amendment
of this contract) the Township Board may, by resolution .
adopted within fifteen days after the receipt of con-
struction bids, direct that a portion of the system
be deleted sufficient to reduce the total cost to an
amount which shall not exceed the total estimated cost
as hereinbefore stated by more than 5%, provided that
such deletion shall not materially change the general
scope, overall design and purpose of the Sewer System,
or in the absence of the adoption of such a resolution
the township shall pay or procure the payment of the
increase or excess in cash, or county bonds in an
increased or additional amount shall (upon adoption of
an authorizing resolution therefor by the Board of
Commissioners) be issued to defray such increased or
excess cost, to the extent that funds therefor are not
available from other sources: Provided, however, that
no such increase or excess shall be approved and no
such increased or additional county bonds shall be
authorized to be issued, nor shall the county enter
into any contract for acquisition or construction of
the Sewer System or any part thereof or incur any
obligation for or pay any item of cost therefor, where
the effect thereof would be to cause the total cost of
the Sewer System to exceed by more than 5% its total -
estimated cost as hereinbefore stated, unless the
Township Board shall have previously adopted a resolution
approving such increase or excess and agreeing that the
same (or such part thereof as is not available from other
sources) shall be paid or its payment procured by the
township in cash or be defrayed by the issuance of
increased or additional payments agreed to be made by
the township to the county in the manner hereinbefore
provided: Provided, further, that the adoption of such
resolution by the Township Board shall not be required
prior to or as a condition precedent to the issuance
of additional bonds by the county, if the county has
previously issued or contracted to sell bonds to pay
all or part of the cost of the project and the issuance
of the additional bonds by the county, if the county
has previously issued or contracted to sell bonds to
pay all or part of the cost of the project and the
issuance of the additional bonds is necessary (as deter-
mined by the county) to pay such increased, additional
or excess costs as are essential to completion of the
project according to the plans as last approved prior
to the time when the previous bonds were issued or
contracted to be sold.
and it is further provided in paragraph 6 of said Contract,
in referring to Exhibit "B" Sewer to said Contract and to the
revision of said Exhibit "B" Sewer, as follows:
"In the event that additional county bonds
shall be issued under the authority of this
contract, to defray a part of the cost of
the Sewer System, the foregoing obligations
shall apply to such part of the cost and to
said additional bonds insofar as appropriate
thereto."
; and
WHEREAS, there has been submitted to this Board of
Commissioners a Revised Exhibit "B" Sewer to said Contract,
dated as of June 30, 1978, which has been approved and ac-
cepted by the township and by this Board of Commissioners as
the basis for the issuance of additional bonds as provided in
paragraph 8 of said Contract; and
WHEREAS, under said Contract of January 1, 1977, the
Township of Avon is to pay to the County the amount of each
annual bond principal maturity, and in addition thereto is to
pay semi-annually, the bond interest and the paying agent fees
and other bond handling costs as determined pursuant to said
Contract on account of any bonds issued by the county to finance
said project; and
WHEREAS, the County is desirous of issuing additional
bonds in anticipation of the payments to be made by the Township
under said Contract of January 1, 1977, on account of said
increased sewage disposal project cost; and
WHEREAS, the County Agency has approved this bond
resolution and recommended its adoption by the Board of Commis-
sioners.
THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS
OF OAKLAND COUNTY, MICHIGAN, as follows:
1. That the bonds of said County of Oakland, aggregat-
ing the principal sum of Ten Million Nine Hundred Seventy-Five
Thousand Dollars ($10,975,000) be issued for the purpose of
defraying part of the increased cost of acquiring Sewer Extension
No. 2 of Oakland County Water Supply and Sewage Disposal Systems
for Avon Township. That said bonds shall be known as "Oakland
County Water Supply and Sewage Disposal Bonds - Avon Township
Systems, Sewer Extension No. 2, Series B"; shall dated
September 1, 1978; shall be numbered consecutively in the direct
order of their maturities from 1 upwards; shall b ii the denomi-
nation of $5,000 each; shall bear interest at a or rates
to be hereafter determined not exceeding eight percent (8%) per
annum, payable on May 1, 1979 and semi-annually thereafter on
the first days of May and November in each year; and shall mature
on the first day of May in each year as follows:
1983 - $225,000
1984 - 225,000
1985 - 250,000
1986 - 275,000
1987 - 300,000
1988 - 325,000
1989 - 350,000
1990 - $375,000
1991 - 400,000
1992 - 425,000
1993 - 450,000
1994 - 500,000
1995 - 550,000
1996 - 600,000
1997 - $ 650,000
1998 - 700,000
1999 - 750,000
2000 - 800,000
2001 - 875,000
2002 - 950,000
2003 - 1,000,000
Bonds maturing on or after May 1, 1994 shall be subject to redemp-
tion in any order at the option of the County prior to maturity
on any one or more interest payment dates, on or after May 1,
1993. Bonds called for redemption shall be redeemed at the par
value thereof and accrued interest plus a premium on each bond
computed as a percentage of the face amount thereof in accordance
with the following schedule:
3% if called to be redeemed on or after May 1, 1993, but
prior to May 1, 1996
2% if called to be redeemed on or after May 1, 1996, but
prior to May 1, 1999
1% if called to be redeemed on or after May 1, 1999, but
prior to May 1, 2003
Notice of redemption shall be given to the holders of the bonds
to be redeemed by publication of such notice not less than thirty
(30) days prior to the date fixed for redemption, at least once
in a newspaper or publication circulated in the State of Michigan,
which carries as a part of its regular service, notices of the
saLe of municipal bonds. Bonds so called for redemption shall
not bear interest after the date fixed for redemption, provided
funds are on hand with the paying agent to redeem the same.
Bonds maturing prior to the year 1994 shall not be subject to
redemption prior to maturity. All bonds shall have proper
coupons attached thereto evidencing interest to their respective
dates of maturity.
2. That the principal of bonds of said series and
the interest thereon shall be payable in lawful money of the
United States of America, at such bank and/or trust company which
qualifies as a paying agent under Federal or Michigan law and
which shall be designated by the original purchaser of the bonds.
Such purchaser shall have the right to name a similarly qualified
co-paying agent.
3. That the Chairman of the Board of Commissioners,
the County Agency, and the County Clerk of the County of Oakland,
are hereby authorized and directed to execute said bonds for
and on behalf of the said County, and to affix the seal of said
county thereto, and the County Agency is hereby authorized and
directed to execute the interest coupons to be attached to said
bonds by causing to be affixed thereto his facsimile signature;
and that upon the execution of said bonds and attached coupons,
the same shall be delivered to the Treasurer of said county who
is hereby authorized and directed to deliver said bonds and
attached coupons to the purchaser thereof, upon receipt of the '
purchase price therefor.
4. That the said bonds are to be issued pursuant to
the provisions of Act No. 342 of the Michigan Public Acts of
1939, as amended, in anticipation of the payments to become due
to the County from the Township of Avon under said Contract of
January 1, 1977, which payments are in the principal amount of
the bonds herein authorized with interest thereon as therein
provided. As provided in said Act No. 342, the full faith and
credit of the Township of Avon is pledged to the making of said
payments when due, and in addition, there is hereby pledged,
as authorized in said Act No. 342, the full faith and credit
of the County of Oakland to the payment of the 'bonds, both princi-
pal and interest when due.
5. That the obligation of said township to make the
payments provided in the Contract, in anticipation of which the
Oakland County Water Supply and Sewage Disposal Bonds - Avon,
Township Systems, Sewer Extension No. 2, dated June 1, 1978,
in the amount of $15,750,000, are issued is separate but equal
and on a parity as a pledge of full faith and credit with the
obligation of said township to make the payments set forth in the Con-
tract, as supplemented by the attachment thereto of the Revised
Exhibit "B" Sewer thereto, in anticipation of which the Oakland
County Water Supply and Sewage Disposal Bonds - Avon Township
Systems, Sewer Extension No. 2, dated September 1, 1978, in
the amount of $10,975,000 are issued. The pledge by the County
of Oakland of its full faith and credi 4- to payment of said
bonds, both series, are authorized in said Act No. 342, applies
equally and without preference and priority to the bonds of
each series.
6. That all moneys paid to the County by the Township
pursuant to said Contract of January 1, 1977, shall be set aside
by the County Treasurer in a separate fund and bank account
be used solely for the payment of the principal of and interest
on the two series of bonds issued in anticipation thereof.
Interest payable on the bonds thirty (30) months sub-
sequent to the date of delivery thereof is capitaized and is
payable from the proceeds of said bonds.
7. That said bonds and attached coupol, :hall be sub-
stantially in the following form:
UNITED STATES OF AMY7TCA
STATE OF MICH.
COUNTY OF OAKLND
Number $5,000
OAKLAND COUNTY WATER SUPPLY AND
SEWAGE DISFYSAL BOND - AVON TOW--rTIP
SYSTEMS S7-= EXTENSION NO. 2 S --72,S
KNOW ALL MEN BY THESE PRESENTS, that the County of
Oakland, Michigan, hereby acknowledges itself indebted and for
value received, promises to pay to the bearer hereof, the sum
of
FIVE THOUSAND DOLLARS
on the first day of May, A.D. 19 , together with interest there-
on from the date hereof until paid, at the rate of
) per centum per annum, payable May
1, 1979, and thereafter semi-annually on the first days of May
and November in each year. Both principal and interest hereof
are payable in lawful money of the United States of America at
in the City of upon pre-
sentation and surrender of this bond and the coupons hereto -
attached as they severally mature.
This bond is one of a series of bonds of like date
and tenor except as to maturity
, numbered consecutively in the direct order of their
maturities from 1 to 2195 , both inclusive, aggregating the
principal sum of Ten Million Nine Hundred S",,,vent Th Doll
($10,975,000 ), issued under and purseant to and in full con-
formity with the Constitution and Statutcs of the State of Michigan,
and especially Act No. 342 of the MichiTjen Public Acts of 1939,
as amended, for the purpose of defraying part of the increased
cost of acquiring the Oakland County Water Supply and Sewage
Disposal Systems for Avon Township, Sewer Extension No, 2.
Bonds of this series maturing prior to May 1, 1994
are not subject to redemption prior to maturity. Bonds maturing
on or after May 1, 1994 shall be subject to redemption in any
order, at the option of the County prior to maturity on any on2
or more interest payment dates on or after May 1, 1993. Bonds
called for redemption shall be redeemed at the par value thereof
and accrued interest plus a premium on each bond computed as
a percentage of the face amount thereof in accordance with the
following schedule:
3% if called to be redeemed on or after May 1, 1993, but
prior to May 1, 1996
2% if called to be redeemed on or after May 1, 1996, but
prior to Max' 1, 1999
1% if called to be redeemed on or after May 1, 1999, but
prior to May 1, 2003
Notice of redemption shall be given to the holders of bonds called
for redemption by publication of such notice not less than thirty
(30) days prior to the date fixed for redemption, at least once
in a newspaper or publication circulated in the State of Michigan,
which carries as a part of its regular service, notices of the
sale of municipal bonds. Bonds so called for redemption shall
not bear interest after the date fixed for red=?tion, provided
funds are on hand with the paying agent to redeem the same. ,
This bond as to both principal and interest, is payable
from moneys to be paid to the County of Oakland by the Township
of Avon, pursuant to a certain Contract dated January 1, 1977,
between the County of Oakland and said township whereby said
township agrees to pay to the said County the increased cost
of acquiring the Oakland County Water Supply and Sewage Disposal
Systems for Avon Township, Sewer Extension No. 2, in annual
installments in the same amounts as the annual maturities of
the bonds of this issue, and semi-annually to pay the amount
of the interest and bond handling charges. The full faith and
credit of said township is pledged for the prompt payment of
its obligations pursuant to said ContrEet, and in addition, by
affirmative vote of a majority of the 7,ebers-e1ect of its Board
of Commissioners, the full faith and credit of the County of
Oakland is pledged to the payment of this bond, principal and
interest, when due.
It is hereby certified, recited and declared that all
acts, conditions and things required to exist, happen and be
performed precedent to and in the issuance of the bonds of this
series, existed, have happened and have been performed in due
time, form and manner as required by the Constitution and Statutes
of the State of Michigan, and that the total indebtedness of
said County, including this series of bonds, does not exceed
any constitutional or statutory limitation.
IN WITNESS WHEREOF, the County of Oakland, Michigan,
by its Board of Commissioners, has caused this bond to be signed
in its name by the Chairman of its Board ofCommissioners, its
County Agency, and its County Clerk, and its corporate seal to
be affixed hereto, and has caused the annexed interest coupons
to be executed with the facsimile signatures of said County
Agency, all as of the first day of September, A.D. 1978.
COUNTY OF OAKLAND, MICHIGAN
By
Chairman of Board of Cissioners
By
County Agency
By
(SEAL)
County Clerk
(COUPON)
Number
On the 1st day of , A.D. 19 , the
County of Oakland, Michigan, will pay to the bearer hereof, the
sum shown hereon in lawful money of the United States of America
at the
in the City of , same being the
interest due on that day on its Oakland County Water Supply and
Sewage Disposal Bond - Avon Township Systems, Sewer Extension
No. 2, Series B, dated September 1, 1978. No.
(FACSIMILE)
County Agency
8. That the said bonds shall not be issued unt.: the
.Municipal Finance Commission of the State of Michigan shall have
first issued its order granting permission to so do, as provided
in Act No. 202 of the Michigan Public Acts of 1943, as amended,
and the County Agency is hereby authorized and directed to make
application to said Commission for the issuance of such order.
9. The County Agency is hereby authori71 to sell
said bonds at not less than par and accrued inter in accor-
dance with the laws of this state and to do all t' -3s necessary
to effect the sale and issuance of said bonds, sub ,ct to the
provisions of this resolution.
10. All resolutions and parts of resolutions, insofar
as the same may be in conflict herewith, are hereby rescinded.
The Planning and Building Committee by Richard R. Wilcox, Chairperson,
Moves the adoption of the foregoing resolution.
PLANNING AND BUILDING COMMITTEE
Richard R. Wilcox, Chairperson
Supported by Mr. DiGiovanni
AYES: Price, Wilcox, Aaron, Daly, D1Giovanni, Doyen, Porttno, Gabler, Hoot, Kasper,
Kelly, Lanni, McDonald, Moffitt, Montante, Moxley, Murphy, Olson, Patterson,
Perinoff, Pernick, Peterson, (22)
NAYS: Simson. (1)
ABSENT: Gorsline, McConnell, Page, Roth. (4)
Resolutic adopted.
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 forego-
ing is a true and complete copy of a resolution adopted by the
Board of Commissioners at a regular meeting of said Board, held
on the 3rd day of August
is on file in my office.
, 1978, the original of which
IN WITNESS WHEREOF, 'I have hereunto affixed my official
signature this 3rd day of August A.D. 1978.
County Clerk