HomeMy WebLinkAboutResolutions - 1978.09.21 - 12969NJRDTC SERV T, - Tfl-PF
MISCELLANEOUS RESOLUTION 8595 DATE August 24, 1978
PUEITC SERVICES COMMITTEE - Henry William Hoot, Cnairman
IN RE: ESTABLESHMENT OW A REVOLVING FUND ISOR COMMUNITY DEVELOPMSNT
RLOCEK GRANT FUNDS.
TO THE OAKLAND COUNTY BOARD OF COMNTSSIONERS
Mr, Chairman, LacI e cGentlemen:
WHIEREAS, the cash requi - 1-uts of the County o '
Development 31nek Grant Program provided by a so-called F 'oral
letter n' credit: by which cash Is requisitioned bv uust
for funds and waitin7 for it to be creditei. to onr account at a local
Conk; and
WHEREAS, this not.. only makes fol.- uncertainty in the fiming of
the receipt of funds but the U.S. Treasury Department -HecHirw=its are
specific Jr statin7 that the money so creditec.f, mnst be expended within
three days from its receipt; and
WHEREAS, this makes a. smooth cash flow almost impossible to
achieve since it involves timing of not only several departments of the
County but over 45 local units of government; and
WHEREAS, it has been recommended bv staG-F that the County
establish a revolvirm fund to cushion tbe de'iavs between recei:pt
and disbtmeement requirements.
'cq TE ' C RE RF TT RESOLVER that this commitee does berebv
recommend that $3[1 ,0flfl..7 Sr estaiblisbed as a i lving fund for this
purpose to be used to meet' block Fant payment requirements on a day-
to-day basis to be reimbursed as eaca el-Aaa of federal cash is
received.
The Public Services Committee by Henrv William Hoot, Chairman,
moves the E3clopLion of the Ii -Op resolution.
#8595 August 24, 1978
Moved by Hoot supported by Simson the resolution be adopted.
The Chairperson referred the resolution to the Finance Committee. There were
no objections.
FISCAL NOTE
BY: FINANCE COMMITTEE, PAUL E. KASPER, CHAIRMAN
IN RE: LOCAL COMMUNITY DEVELOPMENT PROJECTS REVOLVING FUND - MISCELLANEOUS
RESOLUTION i78595
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairman, Ladies and Gentlemen:
Pursuant to Rule XI-C of this Board, the Finance Committee has reviewed
Miscellaneous Resolution #8595 and finds $30,000 necessary to fund the subject
Revolving Fund, The Finance Committee directs $30,000 be advanced from the
General Fund to initiate the Local Community Development Projects Revolving
Fund. Said advance is to be returned to the General Fund at the end of twelve
(12) months from the passage of this resolution.
FINANCE COMMITTEE
Paul E. Kasper, Chairman
#8595 September 21, 1978
Moved by Hoot supported by F'erni'ck the report be accepted ond Resolution #8595
he adopted.
AYES: DiGiovanni, Doyon, Fortino, Gabler, Gorsline, Hoot, Kasper, Kelly : Lanni,
McConnell, Moffitt, Moxley, Murphy : Olson, Page, Patterson, Perinoff, Pernick :
Peterson, Price, Roth, Simson, Wilcox, Aaron, Daly. (25)
NAYS: None. (0)
A sufficient majority having voted therefor, the report was accepted and
Resolution #8595 was adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
T, Lynn D. Allen, Clerk of the County of Oakland and
havin5; a seal, do hereby certify that I have compared the annexed copy of
Miscellaneous Resolution #8595 adopted by the Oakland County Board of
Commissioners at their meeting held on September 21, 1978
with the original record thereof now remainirr. in my
office, and that it is a true and correct tr3cript
therefrom, and of the whole thereof.
In Testimony Whereof, i have hereunto set my 1-WT,(1
affixed the seal of said County at Pontiac,
this day 7
Lynn. 0,
Clerk