HomeMy WebLinkAboutResolutions - 1978.11.01 - 12879RE: FUNDING FOR GLEN OAKS GOLF COURSE
BY: OAKLAND COUNTY PARKS AND RECREATION COMMISSION
TO: THE OAKLAND COUNTY BOARD OF COMMISSIONERS
MR, CHAIRMAN, LADIES AND GENTLEMEN:
WHEREAS, the Oakland County Parks and Recreation Commission has
reviewed the request of the Oakland County Board of Commissioner's
Finance Committee's resolution that pertains to the financing of Glen
Oaks Golf Course, and
WHEREAS, the Oakland County Board of Commissioners has accepted
the grant from the State of Midjgan, and
WHEREAS, it agrees to advance the money to Parks and Recreation
and be repaid in accordance with the following schedule:
$1.2 million - payment due upon receipt of grant funds
from the State of Michigan; the other $1.2 million to
be received from the sale of bonds by the Building
Authority with the stipulation that if bonds are not
sold, funds are to be paid by the Parks and Recreation
Commission under the schedule as shown here:
$300,000 due January 31, 1979
$300,000 due January 31, 1980
$300,000 due January 31, 1981
$300,000 due January 31, 1982
NOW THEREFORE BE IT RESOLVED that the Oakland County Parks and
Recreation Commission accepts the above terms.
Moved by George W. Kuhn
Supported by Marjorie M. Walker
Resolution Adopted on October ,30, 1978
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Payment Due
January 31, 1979
January 31, 1980
January 31, 1981
January 31, 1982
FINANCE COMMIIIU
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MISCELLANEOUS RESOLUTION 8687
BY: FINANCE COMMITTEE, PAUL E, KASPER, CHAIRPERSON
IN RE: GRANT ACCEPTANCE FOR PARKS AND RECREATION AND ADVANCE OF FUNDS
TO PARKS AND RECREATION
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS Miscellaneous Resolution #8145 requires the Finance Committee
to review acceptance of all grants that vary less than 10% from the grant
as applied for; and
WHEREAS the Oakland County Board of Commissioners, by Miscellaneous
Resolution •8640 authorized application of a grant for acquisition of Glen
Oaks Golf Course and grounds in the amount of $1,200,000; and
WHEREAS the State of Michigan has approved said grant in the amount
of $1,200,000; and
WHEREAS the actual receipt of State funds will take place after
November 14, 1978; and
WHEREAS acquisition must take place by November 14, 1978; and
WHEREAS the Parks and Recreation Commission has requested the County
to advance $2,400,000 in order to allow closing on November 14, 1978,
NOW THEREFORE BE IT RESOLVED the Board of Commissioners accept the
grant for acquisition of Glen Oaks.
BE IT FURTHER RESOLVED the Board of Commissioners authorize the ad-
vance to the Parks and Recreation Commission funds in the amount of $2,400,000.
BE IT FURTHER RESOLVED the $2,400,000 advance be repaid as follows:
$1,200,000 upon receipt of grant funds from the State of Michigan, and
$1,200,000 upon sale of bonds through the Building Authority. Should bonds
not be sold, the $1,200,000 will be repaid by the Parks and Recreation Com-
mission per the schedule below.
Amount
300,000
300,000
300,000
300,000
Total 1,200,000
#8687 November 2, 1978
Moved by Kasper supported by Perinoff the resolution be adopted.
Discussion followed.
AYES: Moffitt, Montante, Moxley, Murphy, Olson, Page, Patterson,
Perinoff, Pernick, Peterson, Price, Roth, Simson, Wilcox, Aaron, Daly,
DiGiovanni, Doyon, Fortino, Gabler, Gorsline, Kelly, Lanni, McConnell,
McDonald. (25)
NAYS: Hoot, Kasper. (2)
A sufficient majority having voted therefor, the resolution was
adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lynn D. Allen, Clerk of the County of Oakland and
having a seal, do hereby certify that I have compared the annexed copy of
Miscellaneous Resolution #8687 adopted by the Oakland County
Board of Commissioners at their meeting held on November 2, 1978
with the original 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
2nd November la 7 8
By •••••••••••• •••••••••• • •••••••a• • Deputy Clerk