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HomeMy WebLinkAboutResolutions - 1978.05.04 - 128538/453 Resolution No. Re: EVERGREEN SEWAGE DISPOSAL SYSTEM BINGHAM FARMS EXTENSION NO. 2, AND BINGHAM FARMS WATER SUPPLY SYSTEM By: PLANNING AND BUILDING COMMITTEE To: THE OAKLAND COUNTY BOARD OF COMMISSIONERS MR. CHAIRMAN, LADIES AND GENTLEMEN: WHEREAS, this Board of Commissioners, by Miscellaneous Resolution No. 7696, adopted on September 16, 1976, did approve of the establishment of the Bingham Farms Water Supply System to serve the Bingham Farms Water Supply District, within which dis- trict lies all of the.Village of Bingham. Farms; and WHEREAS, pursuant to. said Board. of: C6mmissibners Resolution Miscellaneous No. 76 .96 and pursuant to.... a resolttion. adopted . by the governing body" of the Village of -Bingham Farms,... the County ofOak-• . land and the said Village entered into a COntract• dated as of. • • July 1, 1976, whereby the County agreed to construct and finance in one or more phases, the said Bingham Farms Water Supply System and the Village agreed to pay the total cost thereof, based upon . the total estimated cost of the project, and as represented by the amount of bonds issued by the county to finance said System, which said Contract is set forth in full in the said resolution of this Board of Commissioners; and WHEREAS, this Board of Commissioners, by Miscellaneous Resolu- tion No. 7697, adopted on September 16, 1976, did approve of the establishment of the. Evergreen Sewage Disposal System - Bingham Farms Extension No. 2 to serve the Village of Bingham Farms and the Village of Franklin, both of which villages lie wholly within the Evergreen Sewage •Disposal District; and WHEREAS, pursuant to said Board of Commissioners Resolution Miscellaneous No, 7697 and pursuant to resolutions adopted by the. governing body of each village the County of Oakland and the said villages entered into a Contract dated as of July 1, 1976, whereby the County agreed to construct and finance in one or more phases, the said Bingham Farms Extension No. 2 to said villages each agreed to pay a share of the total cost thereof, based upon the total estimated cost of the project, and as represented by the amount of bonds issued by the County to finance said Extension No, 2 2 which said Contract is set forth in full in the said resolution of this Board of Commissioners; and WHEREAS, the County of Oakland has issued and sold County bonds to finance both of said' above described -prOffects• 'in the amount of $2,4.60,000, dated September I, 1976, and has notified each of said villages, as provided in each of said Contracts, of the share of bond principal and interest whichi:each village is ob- ligated by said Contracts to pay to the County on account of said County bonds; and WHEREAS, construction bids have been requested and received for each of said projects which bids differ from the estimates of cost as prepared by the registered professional engineers, and an amended estimate of the cost of each of said projects and an es- timate of forty (40) years and upwards as the period of usefulness thereof, jExhibit B-1 (Revised) for said Water Supply Contract and Exhibit B (Revised) for said Sewage Disposal Contract], as prepared by said registered professional engineers, have been approved by the Oakland County Drain Commissioner, as the County Agency, and by the governing body of the Village of Bingham Farms and of the Village of Franklin, in resolutions reading as follows: I. RESOLUTION PERTAINING TO THE BINGHAM FARMS WATER SUPPLY SYSTEM, THE BINGHAM FARMS EXTENSION NO 2 TO THE EVERGREEN. SEWAGE DISPOSAL SYSTEM At a Special meeting of the Village Council of the Village of Bingham Farms Oakland County, Michigan, held in the :Village Hall in said :Village on the 10th d ay o f 7:30 April , 1978, at Time o'clockP JA., Eastern Standard Trustees: Miriam Barris, Richard Holloway, E. jsmes Houston, Jr., Mark H. Lownsbury, Jr.., and President Ashley.. ABSENT: Trustees': Hiotaky, Robert Zimmermann. . -•. . . . . . . resolution was offered by E,._Tames Hou.ston,.. Tr. and seconded by Mark Lownsbury WHEREAS, the Village of Bingham Farms and the County of Oakland have entered into a Contract, dated as of July 1, 1976, with respect to acquisition of a county system of water supply improvements and services to be known as the Bingham Farms Water Supply System which improvem e nts are described in said Contract and in Exhibits Al and B-1 thereto; and WHEREAS, the Village of Bin_gham Farms and the Village of Franklin and the County of Oakland have also entered into a Contract, dated as of July 1, 1976, with respect . to the acquisition of the Bingham Farms Extension No 2 to the Evergreen Sewage Disposal System, which extension is described in said Contract and in Exhibits A and B thereto; and WHEREAS, construction bids have been received for each of said projects and it is necessary to revise the estimates 1, ,z,/q PRESENT: of cost therefor as set forth on said Water Supply Contract Exhibit B-1 and such revised cost is now sot forth on Exhibit B-1 (Revised) and on said Sewage Disposal Contract Exhibit B and such revised cost is now set forth on Sewage Disposal Contract Exhibit B (Revised); and WHEREAS, the County of Oakland has issued its bonds to finance the Bingham Farms Water Supply System and the Bingham Farms Extension No 2 to the Evergreen Sewage Disposal System, along with other funds that are available to pay the costs of said two projects and there is set forth on said Exhibit B-1 (Revised) and Exhibit B. (Revised) the application of all avail-- -... able. funds to pay • the project . costs; and WHEREAS, the said Contracts, dated as of July . 4..1976, each provide in para7raphs•-8 and thereof, for approval by this Viilage•Conncil .bv . resolution of increases or decreases. in--the cost of the Water supply or sewage disposal project and of the provision and application of funds on account of increases or decreases ascertained after the County has issued its bonds to finance the two projects and when it is not intended, as here, that the County will issue additional bonds, provided that the Board of Commissioners of the County also approves said application of funds; and WHEREAS, the said Contracts, dated as of July 1, 1976, each provide in paragraph 6 thereof that the County Agency, following the sale and delivery by the County of its bonds to . finance the two projects, shall furnish a schedule to the Village of Bingham Farms and to the Village of Franklin of the share of each Village of the principal and interest maturities on said bonds, which schedule shall be furnished upon approval by the Village of Bingham Farms and the Village of Franklin of the Revised Principal Maturity Schedule furnished herewith as follows: OAKLAND COUNTY SEWAGE DISPOSAL AND WATER SUPPLY BONDS (Revised Principal Maturity 'Schedule) Sewer Portion of Bond Issue Water Bond Issue Total Village of Village of Village of Bond _ , tur ity - — _ Franklin Bin,'Tham Farms Binghe,m Farms Issue _________ 1977 $ 62,000.00 $ 4,791.48 $ 3,208.52 $ 70,000 1978 65,000.00 14,973.36 10,026.64 90,0 0 0 1979 966.63 15,842.80 8,190.57 25,000 1920 966.63 15,842.80 8,190.57 25,000 1931 1,933.27 31,685,50 16,381.14 50,009 1982 1,933.27 31,685.55 16,381.14 50,000 1983 1,933.27 31,685.59 16,321.14 50,000 1924 1,933.27 31,685.59 16,381.14 50,000 1.985 1,933.27 31,685.59 16,381.14 50,000 1936 1,933.27 31,685.59 16,381.14 50,000 1987 1,933.27 31,685.59 16,381.14 50,000 1 0 88 2,899.90 47,523,40 2 4 ,571.70 75,000 1939 2,899.90 47,522,40 2 0 ,571.70 75,000 1990 2,899.90 47,521.40 24,571.70 75,000 1991 2,899.90 47,522.40 24,571.70 75,000 1902 3,866.53 63,371.20 32,762.27 100,000 1.993 3,866.53 63,371.20 32,762.27 100,000 1994 3,866.53 63,371.20 37,762.27 100,000 3.995 4,833.17 79,213.99 40,952.84 125,000 1996 4,833.17 79,213.99 40,952.84 125,000 1997 5,799.80 95,056.79 49,143.41 150,000 3992 5,799.80 95,056.79 49,143.41 150,000 1999 6,766.43 130,899.60 57,333.97 175,000 2000 6,766.43 110,899.60 57,333.97 175,000 2001 7,733.07 126,742.39 65,524.54 200,000 2002 7,733.07 125,742.39 65,524.54 200__F 000 __._________ $215,930.28 $1,477,302.31 $766,767.41 $2,460,000 Cash 105,000.00 169,000.00 90,000.00 355,000 Income on Invest. 15,903.99 81,138.08 42,4572_93 139,500 $336,834.27 $1,718,440.39 $899,225.34 $2,954,500 Schedule pursuant to contract paragraph 6 of each contract (.2 7 t • A c•••, •/, iw '7 f• t NOW THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE OF BINGHAM FARMS THAT: , OAKLAND COUNTY, MICHIGAN, 1, The Village Council hereby approves the revised Exhibit B-I to the Contract between the County of Oakland and the Village of Bingham Farms, dated as of July 1, 1976 2 providing for the acquisition and construction of the Bingham Farms Water Supply System, and the revised Exhibit B to the Contract between the County of Oakland, the Village of Bingham Farms and the Village of Franklin, dated as of July I, 1976, providing for the acquisition and construction by the County of the Evergteen Sewage Disposal System -.Bingham Farms Extension No, and the Village Council i hereby accepts and approves the foregoing schedAlAe of the Village's share of the principal maturities on the county bonds, 2, The President and the Village Clerk are hereby authorized and directed to initial and deliver the said Exhibit B-1 (Revised) and Exhibit B (Revised) as amendments to said Contracts for and on behalf of the Village, which said revised exhibits read as follows : t $43,164,90 14,321.47 -0 - 1,120,00 16-0 00 BINGHAM FARMS WATER SUPPLY SYSTEM Estimate of Cost (Revised) Construction Cost (as-Bid, march 4, 1978) Contract A $339,•29-25 Contract B 232,992...50 Total Construction Cost (Revised) $572,921'75 Engineering Consulting Engineer (Design) Consulting Engineer (Layout & Staking) Soil and Material Testing Soil Borings Environmental. Consultant Project Administration Inspection Easement Acquisition Act 347 Permit Financial Consultant Bond Counsel Bond Prospectus Bond Printing Publishing Oakland Press 47.08 Michigan Contractor & Builder 43.61 Bond Buyer 196.28 Local Publication Contingency Acquire existing systems (Telegraph Rd-, Bristol Lane, Fromm School) Total Estimated Project Cost 58,766,37 35,050,00 39,970.00 70,000.00 1,273.00 2,654,, 00 3,671.77 844.29 1.56.44 286.97 34,416.40 79,214.35 $899,225.34 I hereby estimate the period of usefulness of this facility to be forty (40) years and upwards. GIFFELS-WEBSTER ENGINEERS, INC. - Franklin D. 'Webf_er,- P.E. #11302 (/i/ EXHIBIT 'B-1 (REVISED) Page 1 of 2- $2,460,000.00 90,000.00 160,000.00 . 105,000.00 . 79,077.98 60,422.02 BINGHAM FARMS WATER SUPPLY SYST E M .Estimate of Cost (Revised) Estimated Project Funds: Oakland County Sewage Disposal and Water Supply Bonds, Evergreen Sewage Disposal System - Bingham Farms Extension No, 2, Bingham Farms Water Supply System" Proceeds of Sale Village of Bingham Farms Cash (Water) :Village of Bingham Farms Cash (Sewer) :Village of Franklin Cash (Sewer) Investment Income Earned Projected Investment Income. Total- EstiMated - Project Funds -..: .-. • •.$2 -,954.500.00 ... Estimated Exbepditures: Bingham Farms Water Supply. System.• -Evergreen :Sewage- Disposal System Bingham Farms Extension No 7 899,225,34 7,055,274,66 Total Estimated Expenditures $2,954,500,00 1.1( z.: EXHIBIT °B-1 ° Page 2 of 2 ' $87,413.78 33,491.97- - 2 1,734,00. 392.00 107.62 99.65 44R.63 -0- 124,031.75 75,430.00 90,500.00 120,000.00 1,860.00 6,066.00 8,392.23 1,929.71 357.56 655.90 92,234.57 I'll • _ • EXHIBIT "B" (REVISED) Page 1 of 2 Franklin D, Websfer P.E. #11302 1, 7 By EVERGREEN SEWACrE DISPOSAL SYSTEM BINGHAM FARMS EXTENSION NO, 2 Estimate of Cost (Revised) Share of Project Costs _Village of Franklin Village of Bingham Farms Construction Cost 16.38377% 61123 ,-, Contract A (As Bid, March 14, 1978) $ 741,924.50 Contract B (As Bid, March 14, 1973) 739,123.00 Telegraph Road Crossing (MDSH&T) 27,600.00 Total Construction Cost (Revised) ......,...........$1,508,64750 - Engineering. Consulting Engineer (Desigp). Consulting Engine e r (Layout; Staking) SOIL and Material Testing Soil Bo-rings Enviromnmenta/ Consultant Project - AdministraLidn - • Inspection Easement Acquisition Act 347 Permit Financial Consultant Bond. Counsel Bond Prospectus Bond Printing Publishing Oakland Press Michigan Contractor & Builder Bond Buyer Local Publication Contingency Acquire existing system (Bingham Villas & Fromm School) Total Estimated Project Cost 25,119.44 $2,055,274.66 hereby estimate the period of usefuIne5s of this facility to be forty (40) years and upwards. GIFFELS-WEBSTER ENGINEERS, INC. $2,460,00000 90,000,00 3160,000,00 105,003,00 79,077.98 E0,422,02 Pqrlas . 2,954.50000 .899,225.,34 2,055,274.66 EXHIBIT 'B" Page 2 of 2 EVERGREEN SEWAC,E DISPOSAL SYSTEY1 BINGHAM FARMS EXTENSION NO 2 Estimate of Cost (Revised) Estimated Project Funds: "Oakland County Sewage Disposal and Water Supply Bonds, Evergreen Sewage Disposal System - Bingham Farms Extension No 2, Bingham Farms Water Supply System" Proceeds of Sale Village of Bingham Farms Cash (Water) Village of Bingham Farms .Cash • (Sew.erl Village of FranklinCash (Se Investment Income Earned Projected. Investm e nt Income Total Estimated Project Estimate0 Expenditures: Bingham Farms Water Supply System Evergreen Sewage Disposal System Bingham. Farms Extension No 2 Total Estimated Expenditures $2,954,50000 Trustees: Miriam Barris, Richard Holloway, E. James Yeas ADOPTED: Houston, Jr., Mark H. Lownsbury, President Ashley Nays N.Q=c, — '1 % STATE OF MICHIGAN ) ss: COUNTY OF OATAN'n ) the undersigned :Village Clerk of the Village of Bingham Farms , Oakland County, Michigan, do hereby certify that the foregoing is a true and complete copy of a resolution adopted by the Village Council at a Special meeting duly called and held on the 10th d ay o f April 1978, at 7:10 o'clock' P.M., Eastern (Standard) (Daylight) Time the original of which resolution is on file ijmy: Village Clerk Dated: April llth , 1978. , /. ,y • /. AMENDMENT AGREEMENT AND RESOLUTION PERTAININGTO THE BINGHAM FARMS WATER SUPPLY SYSTEM, THE BINGHAM FARMS EXTENSION NO, •2 TO THE EVERGREEN SEWAGE DISPOSAL SYSTEM At a Soecial meeting of the :Village Council of the Village of Franklin , Oakland County, Michigan, _ held in the Village Hall in said Village on the 17th day of , _ April , 1978, at 8:00 o'clock P,M., Eastern Standard _ Time PRESENT: ABSENT: President Klein, Trustees Bertelson, Herrick, Katz, Rodgers, Thompson, Verdon, Clerk Riley.' None. The following resoll Jon. was offere d.. bY-Trustee Verdon seconded by Trustee- Bertelsen: WHEREAS, the Village of Bingham Farms and the County of Oakland have entered into .a Contract, dated as of July 1, 1976, with respect to acquisition of a county system of water supply improvements and services to be known as the Bingham Farms Water Supply System which improvements are described in said Contract and in Exhibits A-1 and B-1 thereto; and WHEREAS, the Village of Bingham- Farms and the _Village of Franklin and the County of Oakland have also entered into a Contract, dated as of July 1, 1976 1 with respect to the acquisition of the Bingham Farms Extension No 2 to the Evergreen Sewage Disposal System, which extension is described in said Contract and in Exhibits A•and B thereto; and WHEREAS, construction bids have been received for each of said projects and it is necessary to revise the estimates aPPr vs I by of cost therefor as set forth on said 1aLer Supply Contract Exhibit B-1 and such revised cost is now set forth on Exhibit B-1 (Revised) and on said Sewage Disposal Contract Exhibit B and such revised cost is now set forth on Sewage Disposal Contract Exhibit B (Revised); and WHEREAS, the County of Oakland has issued its bonds to finance the Bingham Farms Water Supply System and the Bingham Farms Extension No 2 to the Evergreen Sewage Disposal System, along with other funds that are available to pay the costs of said two projects and there is set forth. on said Exhibit. 13-1. . (ReviSed) and Ehibit B rRovdl the..appliction of - all: avail- able-,funds. to pay the project costs;. and. • . , WHERE.INS, the said 'Contracts, dated' as of l. 1976, each provide in paragraphs S and 9 thereof,' fo this Village Council: by resolution ofreases or decreases - in the cost of the Water • supply or sewage disposal project and of the provision and application of funds on account of increases or decreases ascertained after the County has issued its bonds to finance the two projects and when it is not intended, as here, that the County will issue additional bonds, provided that the Board of Commissioners of the County also approves said application of funds; and WHEREAS, the said Contracts, dated as of July 1, 1976, each provide in paragraph 6 thereof that the County Agency, following the sale and delivery by the County of its bonds to finance the two proiects, shall furnish a schedule to the Village of Bingham Farms and to the Village of Franklin of the shre each Village of the principal and interest maturities on • said bonds, which schedule shall be furnished upon approval by the Village of Bingham Farms and the Village of Franklin of the Revised Principal Maturity Schedule furnished herewith as follows OMLAND COUNTY SE ,IAGE DISPOSAL AND WATIR SUPPLY BONDS (Revised Principal Maturity Schedule) Maturity 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986. 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1993 1999 2000 2001 2002 Cash income on Invest. Sewer Portion of Bond issue Water Bond Issue Total Village of :Village of :Village of Bond Franklin Bincjham Farms DirlSftc:T_Fa:cmJue. $ 62,000,00 $ 4,791.48 $ 3,208.52 $ 70,000 65,000,00 14,973.36 10,026.64 90,009 966.63 15,842.80 6,190.57 25,000 966.63 15,842.80 8,190.57 25,000 1,933.27 31,685,59 16,381.14 50,000 1,933,27 31,685.59 16,381.14 50,000 1,933.27 31 ,685,59 16 3.361.14 50,000 1,933,27 31,6815.59 16,361.14 50,000 1,933.27 3 -1,685.59 16,381„14 50,000 1,932,2 7 33,685,59 16,381-14 50,000 1,933,27 21,685.59 16,381,14 50,000 2,8 9 9.90 47,52 8. 24,571.70 75,000 2,699.90 17,528.40 24,571,70 75,000 2,899.90 47,528.40 24,571.70 75,000 2,69 9 .90 47,529 /0 24,571.70 75,0(0 3 1 866.53 63,371.20 32,762.27 100,000 3,866.5 2 63,37U20 32,762,27 100,000 3,866,53 63,371.20 32,762,27 100 ,060 4,833.17 79,213.99 40,952.84 125,000 4,833.17 79,213.99 40,952,84 125,000 5,799.80 95,056.79 49,143.41 150,000 5,799.80 95,056.79 49,143.41 150,000 6,766.43 110,899.60 57,333,97 175 1 000 6,766,43 110,899.60 57,333.97 175,000 7,733.0i 126,742.39 65,524.54 200,000 7,733.07 n 126,742.39 65,524,54 200,000 _ , $235,930.28 $1,477,302.31 $766,767.41 $2,460,000 105,000.00 160,000.00 90,000.00 355,000 15,903.99 81,138.08 42,457.93 139,500 $336,834.27 $1,718,440,39 $899,225.34 $2,954,500 Schedule pursuant to contract paragraph 6 of each contract NOW, THEREFORP, BE TT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE OF Franklin_ OAKLAND COUNi'Y, MICHIGAN, THAT: 1. The Village Council hereby approves the revised Exhibit B-1 to the Contract between the County of Oakland and the Village of Bingham Farms, dated as of July 1, 1976, providing for the acquisition and construction of the Bingham Farms Nater Supply System, and the revised Exhibit B to the Contract between the County of Oakland, the Village of Bingham Farms and the Village of Franklin, dated as of July 1, 1976, providing the acquisition and construction. by the: County of the Evergreen Sewage -Disposal- System - BitIgham Farms Extension No, 2 and.. the Village Council : hereby. accepts. and approves the foregoing 5chedul of the Village's.. shareof•.the .princ .ipar. maturities on. fhe:tt;..ounty bands, 2,, The President and the Village Clerk are hereby authorized and directed to initial and deliver the said Exhibit B-1 (Revised) and Exhibit B (Revised) as amendments to said Contracts for and on behalf of the Village, which said revised exhibits read as follows NOTE: See Item 3, further amendment or $43,164,90 14,321,47 -0- 1,120.00 160.00 Total Estimated Project Cost $899,225.34 Franklin D.1416bg -Cer,I P.E. #11302 EXHIBIT "B-1" (REVISED) Page 1 of 2 BINHAV; AS wATER SUPPi,Y. SYSTE Estimate of Cost (Revised) Construction Cost (as-Bid, March 4, 1978) Contract A $339,929.25 Contract B 232,992.50 Total Construction Cost (Revised)„....„............4572,921,75 Engineering Consulting Engineer (Design) Consulting Engineer (Layout & Staking) Soil and Material Testing Soil Borings Environmental Consultant Project Administration • Inspection Easement Acquisition Act 347 Permit Financial Consultant Bond Counsel Bond Prospectus Bond Printing Publishing Oakland Press 47.08 Michigan Contractor & Builder 43,61 Bond Buyer 196,28 Local Publication -0- 286.97 Contingency 34,416.40 Acquire existing systems (Telegraph Rd., Bristol Lane, Fromm School) 79,214.35 58,766.37 35,050.00 39,970.00 70,000.00 1,273.00 2,654.00 3,671.77 844.29 156.44 I hereby estimate the period of usefulness of this facility to be forty (40) years and upwards. GIFFELS-WEBSTER ENGINEERS, INC, $2,460,000.00 90,000.00 160,000.00 105,000.00 79,077.98 60,422.02 Funds *2,954.500.00 EXHIBIT "B-I" Page 2 of 2 EARMS WATER SUPPLY SYSTEM EstiDate of Cost (Revised) 1, 0 "<..*F unds: l'Oakland County Sewage Disposal and Water Supply Bonds, Evergreen Sewage Disposal System - Bingham Farms Extension No. 2, Bingham Farms Water Supply System" Proceeds of Sale Village of Bingham Farms Cash (Water) :Village of Bingham Farms Cash (Sewer) :Village of Franklin Cash (Sewer) Investment Income Earned Projected Investment Income Total Estimated Project. Estimated Expenditures: Bingham Farms Water Supply System Evergreen Sewage Disposal System Bingham Farms Extension No 2. . $ 899,225.34 2,055,27466 Total Estimated Expenditures $2,954,505.00 /, 7' Franklin D, 146bsEer P.E.•#11302 EVERGREEN SEWAGE DISPOSAL SYSTEM BINGHAM FARMS EXTENSION NO 2 Estimate of Cost (Revised) Share of Project Costs Village of Franklin _ Village of Bingham Farms Construction Cost 16.38877% 83.61123% Contract A (As Bid,- March 14, 1978) Contract B (As Bid, March 14, 1978) Telegraph Road Crossing (ADSH&T) $ 741,924.50 739,123.00 27,600.00 Total Construction. Cost (Revised)..................$1,508,647.50 Engineering Consulting Engineer (Design) $87,413.78 Consulting Engineer (Layout & Staking) 33,491.97 Soil and Material Testing -0- Soil Borings 2,734.00 EnviromnmentaI Consultant 392.00 124,031.75 Project Administration Inspection Easement Acquisition Act 347 Permit Financial Consultant Bond Counsel Bond Prospectus Bond Printing Publishing Oakland Press 107.62 Michigan Contractor & Builder 99.65 Bond Buyer 448.63 Local Publication -0- 655.90 Contingency 92,284.57 Acquire existing system (Bingham Villas & Fromm School) Total Estimated Project Cost 75,430.00 90,500.00 120,000.00 1,860.00 6,066.00 8,392.23 1,929.71 357.56 25,119.44 $2,055,274.65 I hereby estimate the period of usefulness of this facility to be forty (40) years and upwards. GIFFELS-WEBSTBR ENGINEERS, INC. EXHIBIT "B" (REVISED) Page 1 of 2 $2,460,000.00 90,000A0 160,000„00 105,000-A0 79,077_98 €0 ,42202 899,225.34 2,055,274,.66 EVERGREEN SEGE DISPOSAL'SYSTEN BINGHAM PARNS EXTENSION NO. 2 Estimate of Cost (Revised) Estimated Project F6nds: "Oakland County Sewage Disposal and Water Supply Bbnds, Evergreen' Sewage Disposal System - Bingham Farms Extension No 2, Bingham Farms Water Supply System" Proceeds of Sale Village of Bingham Farms Cash (Water) Village of Bingham Farms Cash (Sewer) Village of Franklin Cash (Sewer) Investment Income Earned Projected Investment Income Total Estimated Project Funds $2,954..50000, Estimated Expenditures: Bingham Farms Water Supply System Evergreen Sewage Disposal System Bingham Farms Extension No 2 Total Estimated Expenditures $2,954,500.00 EXHIBIT "B" Page 2 of 2 /AA_Y / By Village Clerk siden • AND, FURTHER, BE IT RESOLVED BY THE VILLAGE COUNCIL OF THE VILLAGE OF FRANKLIN, OAKLAND COUNTY, MICHICAN, THAT 3. The parties agree that with respect to the Village of Franklin the following paragraph of the original contract, dated as of July 1, 1976, should be deleted without affecting the obligations to pay any amounts due under the contract: WHEREAS, the villages are in urgent need of such sewage disposal improvements and facilities to provide the means of collecting and disposing of sanitary sewage of the villages, in ord to abate pollution of the waters of the villages and thus to promote . the health. and welfare . of the residents •thereof; which iMprovements and -facilities ivOUld likewise benefit the county and its residents,. and the parties hereto•have.concluded ..'that such improvements..nod lit los can be most economically and efficiently provided and financed by the county through the exercise of the powers conferred by Act 342, and especially Sections 5a, 5b, and. Sc thereof; and IN WITNESS WHEREOF, the parties hereto have caused this contract amendment to be executed and delivered by the undersigned, being duly authorized by the respective governing bodies of such parties, all as of the day and year first above written. COUNTY OF OAKLAND VILLAGE OF FRANKLIN County Drain Commissioner (County Agency) ADOPTED: Yeas Trustees Bertelson, Herrick, Katz, Rodgers, Thompson and Verdon. Nays None STATE OF MICHIGAN ) COUNTY OF OAKLAND ) I, the undersigned Village Clerk of the Village of Franklin , Oakland County, Michigan, do hereby certify that the foregoing is a true and complete copy of a resolution adopted by the Village Council at a Special meeting duly called and held on the 17th day of April , /978, _ at 8 o'clock P,M., Fasten (Stanaard)s. Timo, thc- original ofwhi-_ch rescluton is on file in my office, Dated: April 20 , 1978. WHEREAS, pursuant to the •provisions of said Contracts of July 1, 1976, a revised schedule has been prepared on which the aggregate amounts of the several annual principal installments to be paid by each of the Villages on account of the bonds issued to finance the two projects are set forth in amount at least as much as the annual maturities of County bonds heretofore issued; and WHEREAS, the County Drain Commission.er, as County Agency, has approved this resolution and recommended its adoption by the Board of Commissioners. THEREFORE, BE IT RESOLVED By THE BOARD- OF COMMISSI.ONERS. OF OAKLAND. COUNTY,. MICHIGAN as f011Owsc: • . = 1, That - the Exhibit B-1 (revised) to tbe. Contract . - Farms Water Supply.System,•datedThs- of July 1975..aniT the. Exhibit B.. (Revised). to- -the Contract., Evergreen: Sewage Dfsposal Sys- tem, Bingham Farms Extension No, 2, dated as of July 1, 1976, are each hereby approved and the County Clerk is hereby directed to endorse on said amended exhibits the fact of such approval and re- turn the same to the County Agency, as amendments to each of said Contracts, 2. That the revised schedule of the share of the Village of Bingham Farms and Village of Franklin, of the principal maturitic of the County bonds heretofore issued to finance said water tuppl.y and sewage disposal systems projects as approved and adopted by the governing body of each of said Villages, is hereby approved and adopted by this Board of Commissioners. Dated: May 4 ,..., 1978 STATE OF MICHIGAN ) ss ) COUNTY OF OA K LAND ) 1, the undersigned, the County Cl e rk of the County of Oak- land, do hereby certify that the foregoing are true and compIet copies of Miscellaneous Resolution No 8453 and of the pro- ceedings pertaining thereto duly adopted and .tai.7on by the. 'Board of Commissioners of said County at a_ regular eeting held. May 4, 1978 1978, the originals of which are on file in my office Lynn D. Allen County Clerk, Oakland County ADOPTED: YEAS: McConnell, McDonald, Moffitt, Montante, Moxley, Murphy, Olson, Page, Perinoff, Pernick, Peterson, Price, Simson, Wilcox, Aaron, Daly, DiGlovanni, Doyon, Fortino, Gabler, Gorsline, Hoot, Kelly, Lanni. (24) NAYS: None. (0) ABSENT: Kasper, Patterson, Roth. (3)