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HomeMy WebLinkAboutResolutions - 1977.02.03 - 13149February 3, 1977 RESOLUTION NO. BY: Planning & Building Committee-Richard R. Wilcox IN RE: CLINTON—OAKLAND SEWAGE DISPOSAL SYSTEM — WATERFORD EXTENSIONS PHASE V TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS MR. CHAIRMAN, LADIES AND GENTLEMEN: WHEREAS, pursuant to the provisions of Act No. 342, Public Acts of Michigan of 1939, as amended (hereinafter re- ferred to as Act 342), the Board of Commissioners of the County of Oakland, has heretofore, in Resolution No. 7745 adopted November 18, 1976, by a majority vote of its members-elect, authorized and directed the establishment of Clinton-Oakland Sewage Dispsoal System - Waterford Extensions Phasey to serve areas in the Charter Township of Waterford, and has designated the County Drain Commissioner of the County of Oakland as the county agency for the purposes set forth in said act; and WHEREAS, by the terms of Act 342, Oakland County is authorized through its county agency to acquire sewage disposal systems within the county and to improve, enlarge, extend, operate and maintain the same, and Oakland County and one or more units of government therein are authorized to enter into a contract or contracts for the acquisition, improvement, enlarge- ment, or extension of such sewage disposal systems and for the payment of the cost thereof by said unit or units of government, with interest, over a period not to exceed forty (40) years, and Oakland County is then authorized, pursuant to appropriate action of its Board of Commissioners, to issue its bonds to provide the 7827 funds therefor, secured primarily by the full faith and credit contractual obligations of said unit or units of government to pay the cost thereof, and secondarily by the full faith and credit of the said county if a majority of the members-elect of its Board of Commissioners so vote; and WHEREAS, it is necessary and desirable that sewage disposal services be provided to the residents of the County of Oakland living in the Charter Township of Waterford and the governing body of the foregoing municipality have approved the Clinton-Oakland Sewage Disposal System - Waterford Extensions Phase V Contract, to be dated as of January 1, 1977, between the County of Oakland, party of the first part, and the Charter Township of Waterford, party of the second part, with respect to the acquisition, construction, financing and operation of the Waterford Extensions Phasey and has authorized its munici- pal officers to execute said contract subject to the expiration of the forty-five day referendum period provided in Section 5b of said Act No. 342, which contract is hereinafter set forth in full; and WHEREAS, said contract and an estimate of $ as the cost of said Waterford Extensions Phasey have been submitted to this Board by the Oakland County Drain Commissioner as the county agency pursuant to Act 342; and WHEREAS, it appears both necessary and desirable for the county to acquire said Waterford Extensions Phase V and for the Drain Commissioner, as county agency pursuant to Act 342, to execute the aforesaid contract to be dated as of January 1, 1977, and for the county to issue its county bonds in the amount of $25,700,000 to be secured primarily by the full faith and credit pledge of the Charter Township of Waterford and secondarily by the full faith and credit pledge of the county in accordance with the provisions of said contract to be dated as of January 1, 1977; and WHEREAS, the acquisition of the said sewage disposal system will protect the public health and welfare of the citizens to be served by said system. THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF OAKLAND COUNTY, MICHIGAN, as follows: 1. That the Board of Commissioners of Oakland County, Michigan; does hereby approve the acquisition of the Waterford Extensions Phase V to serve areas in the Charter Township of Waterford. The said Waterford Extensions Phase V shall consist of the sewage disposal facilities more fully described in the contract hereinafter set forth in full and the areas to be served are more fully set forth on Exhibit A to said contract. 2. That the aforesaid contract relating to the acquisi- tion, financing and operation of the extensions to be dated as of January 1, 1977, is hereby approved and the Oakland County Drain Commissioner, as county agency pursuant to Act 342 is hereby authorized and directed to execute said contract on behalf of the County of Oakland upon lawful execution of the contract by the Charter Township of Waterford. Said contract reads as follows: 3. That the copy of said proposed contract as sub- mitted to and approved by this Board be identified by endorse- ment thereon by the County Clerk of the statement "Approved by Board of Commissioners on February 3 , 1977", and be attached to the minutes of this meeting. MR. CHAIRMAN, on behalf of the Planning and Building Committee, I move the adoption of the foregoing resolution. PLANNING AND BUILDING COMMITTEE ADOPTED: Yeas — Fortino, Gabler, Gorsline, Hoot, Kasper, Kelly, Lanni, McConnell, McDonald, Moffitt, Moxley, Murphy, Olson, Page, Patterson, Perinoff, Peterson, Price, Simson, Wilcox, Aaron, Daly, DiGiovanni, Doyon. (24) Nays — None. (0) Absent — Montante, Pernick, Roth. (3) CONTRACT CLINTON-OAKLAND SEWAGE DISPOSAL SYSTEM WATERFORD EXTENSIONS PHASE V. THIS CONTRACT, made this 1st day of January, 1977, by and between the COUNTY OF OAKLAND, a Michigan county cor- poration (herpinafter called the "county"), by and through its Drain Commissioner (hereinafter referred to as the "County Agency"), party of the first part, and the TOWNSHIP OF WATERFORD, a Charter township corporation in the County of Oakland (herein- after called the "municipality"), party of the second part: WITNESSET H: WHEREAS, pursuant to Act No 342, Public Acts of Michigan, 1939, as amended (hereinafter sometimes referred to as "Act 342"), the Board of Commissioners of the county has heretofore, by majority vote of its members-elect, autho- rized and directed that there be established a county system of sewage disposal improvements and services to serve the municipality, said system to be known as the "Clinton-Oakland Sewage Disposal System - Waterford Extensions Phase :V" (here=- inafter sometimes referred to as the "county system" or as the "system"), and has designated the Oakland County Drain Commissioner as the County Agency for the system with all powers and duties with respect thereto as are provided by Act 342; and WHEREAS, under and subject to the terms of Act 342, the county is authorized, through the County Agency, to acquire and construct the sewage disposal improvements and facilities "APPROVED BY BOARD OF COMMISSIONERS ON FEBRUARY 3, 1977" . Allen, Oakland County Clerk-Register of Deeds Lynn hereinafter described as constituting the county system, the county and the municipality are authorized to enter into a contract, as hereinafter provided, for the acquisition and construction of the system by the county and for financing all or part of the cost thereof by the issuance of bonds by the county secured by the pledge of the full faith and credit of the township to pay such cost with interest to the county in installments extending over a period not exceeding forty (40) years, and the county is authorized to issue such bonds and, if authorized by majority vote of the members-elect of its Board of Commissioners, to pledge its full faith and credit for the payment of such bonds and the interest thereon; and WHEREAS, the municipality is in urgent need of such sewage disposal improvements and facilities to provide the means of treating and disposing of sanitary sewage of the muni- cipality, in order to abate pollution of the waters of the municipality, county and State of Michigan, and thus to promote the health and welfare of the residents thereof, which improve- ments and facilities would likewise benefit the county and its residents, and the parties hereto have concluded that such improvements and facilities can be most economically and ef- ficiently 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 WHEREAS, the County Agency has obtained preliminary plans for the county system and also estimates of the cost of the system and the period of usefulness thereof, all of which have been prepared by Johnson .& Anderson, Inc. (herein- after sometimes referred to as the consulting engineers) and have been submitted to and approved by the Board of Commis- -2- sioners of the county and the Township Board Of the municipality and placed on file in the office of the County Agency, said estimates being set forth in Exhibit B hereunto attached; and WHEREAS, in order to provide for the acquisition and construction of the system by the county and the financing of the cost thereof by the issuance of county bonds, and for other related matters, it is necessary for the parties hereto to enter into this contract. THEREFORE, IN CONSIDERATION OF THE PREMISES AND THE COVENANTS OF EACH OTHER, THE PARTIES HERETO AGREE AS FOLLOWS: 1. The parties hereto do hereby approve and agree to the establishment, acquisition, construction and financing of the Clinton-Oakland Sewage Disposal System - Waterford Extensions Phase V- as herein provided, under and pursuant to Act 342. The municipality by way of compliance with Section 29, Article VII, Michigan Constitution of 1963, consents and agrees to the establishment and location of the system within its corporate boundaries and to the use by the county of its streets, highways, alleys, lands, rights-of-way or other public places for the purpose and facilities of the system and any improvements, enlargements and extensions thereof, and the municipality further agrees that, in order to evidence and effectuate the foregoing agreement and consent, it will execute and deliver to the county such grants of easement, right-of-way, license, permit or consent as may be requested by the county. 2. The Clinton-Oakland Sewage Disposal System - Waterford Extensions Phase V shall consist of enlargements, additions and improvements to the existing sewage treatment -3- facilities and sanitary sewers and related facilities as shown on Exhibit A which is hereunto attached and which is hereby made a part hereof, and as are more particularly set forth in the preliminary plans which have been prepared and submitted by the consulting engineers which plans are on file with the County Agency and are hereby approved and adopted. The system shall be acquired and constructed substantially in accordance with the said preliminary plans and in accordance with final plans and specifications to be prepared and submitted by the consulting engineers, but variations therefrom which do not materially change the location, capacity or overall design of the system, and which do not require an increase in the total estimated cost of the system, may be permitted on the authority of the County Agency. Other variations or changes may be made if approved by the County Agency and by resolution of the Township Board and if provisions required by Paragraph 8 hereof are made for payment or financing of any resulting increase in the total estimated cost. The estimate of cost of the system and the estimate of period of usefulness thereof as set forth in Exhibit B are likewise hereby approved and adopted. 3. The County Agency shall take or cause to be taken all actions required or necessary, in accordance with Act 342, to procure the issuance and sale of bonds by the County, in one or more series, in whatever aggregate principal amount is necessary to be so financed to defray that part of the total cost of the county system which is in excess of funds available from Federal and/or State grants or other sources. Such bonds shall be issued in anticipation of, and be payable primarily from, the payments to be made by the municipality to the county -4- as provided in this contract, and shall be secured secondarily, if so voted by the Board of Commissioners of the county, by the pledge of the full faith and credit of the county, and the said bonds shall be payable in annual maturities the last of which shall be not more than forty years from the date thereof. 4. The County Agency shall proceed to take construction bids for the system and, subject to the sale and delivery of said bonds, enter into construction contracts with the lowest responsible bidder or bidders, procure from the contractors all necessary and proper bonds, cause the system to be constructed within a reasonable time, and do all other things required by this contract and the laws of the State of Michigan. All certificates for required payments to contractors shall be approved by the consulting engineers before presentation to the County Agency and the latter shall be entitled to rely on such approval in making payment. The county hereby agrees that it will secure, or cause to be secured, and maintained during the period of con- struction adequate property damage and public liability insurance covering all facilities to be constructed pursuant to this contract. All policies and memorandums of insurance shall provide that the county and the municipality shall be insured parties thereunder and shall contain a provision requiring that the municipality be notified at least ten days prior to cancellation thereof. One copy of each policy and memorandum of insurance shall be filed with the municipality. 5. It is understood and agreed by the parties hereto that the system is to serve the municipality and not the in- dividual property owners and users thereof, unless by special arrangement between the County Agency and the municipality. -5- The responsibility of requiring connection to and use of the system and/or providing such additional facilities, as may be needed, shall be that of the municipality which shall cause to be constructed and maintained, directly or through the county, any such necessary additional facilities. The county shall not be obligated to acquire or construct any facilities other than those designated in paragraph 2 hereof. 6. .The municipality shall pay to the county the total cost of the system (less such funds as may become available from Federal and/or State grants or from other sources), which total cost for this purpose shall include, in addition to the items of the nature set forth in Exhibit B (represented by the principal amount of the bonds to be issued by the county plus such funds as may become available from Federal and/or State grants or other sources), all interest payable by the county on said bonds and all paying agent fees and other expenses and charges (including the County Agency's administrative expenses) which are payable on account of said bonds (such fees, expenses and charges being herein called "bond service charges"). Such payment shall be made to the county in annual installments which shall be due and payable at least thirty days prior to the day of the month specified in the county bonds as the annual principal maturity date thereof. Such an annual installment shall be so paid in each year, if any principal and/or non- capitalized interest on said bonds falls due during the twelve-month period beginning on such principal maturity date in said year, and the amount of each installment so due and payable shall be at least sufficient to pay all such principal and/or interest thus falling due and all bond service charges then due and payable. The County Agency shall, within thirty days after delivery of the county bonds to the purchaser, furnish -6-- the Township Treasurer with a complete schedule of the principal and interest maturities thereon, and the County Agency shall also, at least thirty days before each payment is due to be made by the municipality, advise the Township Treasurer of the amount payable to the county on such date. If the municipality fails to make any payment to the county when due, the same shall be subject to a penalty of 1% thereof for each month or fraction thereof that such amount remains unpaid after due. Failure of the County Agency to furnish the schedule or give the notice as above required shall not excuse the municipality from the obligation to make payment when due. Such payments shall be made by the municipality when due whether or not the system has then been completed or placed in operation. 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 system, the foregoing obligations shall apply to such part of the cost and to said additional bonds insofar as appro- priate thereto. 7. The municipality may pay in advance any amount payable to the county pursuant to this contract and in that event shall be credited therefor on future-due amounts as may be agreed by the parties hereto. The municipality may also pay in advance any one or more installments or any part thereof (a) by surrendering to the county any of said county bonds of like principal amount with all future-due coupons attached thereto, or (b) by paying to the county in cash the principal amount of any county bonds which are subject to redemption prior to maturity, plus all interest thereon to the first date upon which such bonds may be called for redemption, and plus all applicable call premiums and bond service charges, and in such event the County Agency shall call said bonds for re- -7- demption at the earliest possible date. The installments or parts thereof falling due in the same calendar year as the maturity dates of the bonds surrendered or called for redemp- tion and bonds and coupons so surrendered or redeemed shall be cancelled. 8. In the event that it shall become necessary to increase the estimated cost of the system as hereinbefore stated, or if the actual cost of the 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 system, or in the absence of the adoption of such a resolution the municipality 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 system or any part thereof or incur any obligation for or pay any item of cost therefor, where -8- the effect thereof would be to cause the total cost of the system to exceed by more than 5% its total estimated cost as hereinbefore stated, unless the Township Board shall have pre- viously 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 municipality in cash or be defrayed by the issuance of increased or additional county bonds in anticipation of increased or additional payments agreed to be made by the municipality 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 con- dition 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 is necessary (as determined 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 pre- vious bonds were issued or contracted to be sold. 9. In the event that the actual cost of the system is less than the total estimated cost, then any surplus avail- able to the county from the sale of county bonds shall, at the option of the Township Board be used either to improve, enlarge or extend the system, or to apply upon future payments due to the county, or to redeem bonds or to purchase the same on the open market, provided that such surplus shall be used to improve, enlarge or extend the system only if authorized by the Board of Commissioners. Any such surplus may, for the purpose of improving, enlarging or extending the system, be supplemented by cash payments to be made by the municipality -.9- or such improvements, enlargements or extensions may be financed entirely from such cash payments, where authorized by the Township Board. Where any such surplus is used to redeem or purchase bonds, the same shall be cancelled, and the payments thereafter required to be made by the municipality to the county shall be reduced so as to reflect the resulting saving of interest and the payment required to be made in the calendar year of the stated maturity of said bonds shall be reduced by the princi- pal amount thereof. 10. Should the municipality fail for any reason to pay the county at the times specified, the amounts herein required to be paid, the municipality does hereby authorize the State Treasurer or other official charged with the disburse- ment of unrestricted state funds returnable to the municipality pursuant to the Michigan constitution to withhold sufficient funds to make up any default or deficiency in funds. If the full faith and credit of the county is pledged for the prompt payment of the principal of and interest on the bonds to be issued by the county and if the county is required to advance any money by reason of such pledge on account of the delinquency of the municipality, the County Treasurer is hereby authorized to notify the State Treasurer to deduct the amount of money so advanced by the county from any unrestricted moneys in the State Treasurer's possession belonging to the municipality and to pay such amount to the county. The foregoing shall not operate to limit the county's right to pursue any other legal remedies for the reimbursement of moneys advanced on account of the default of the municipality. -10- IL The municipality, pursuant to the authorization of Section 5a of Act No. 342, does hereby pledge its full faith and credit for the prompt and timely payment of its obli- gations expressed in this contract and shall each year levy a tax in an amount which, taking into consideration estimated delinquencies in tax collections, will be sufficient to pay its obligations under this contract becoming due before the time of the following year's tax collections: Provided, how- ever, that if at the time of making its annual tax levy, the municipality shall have on hand in cash other funds which have been set aside and pledged or are otherwise available for the payment of such contractual obligations falling due prior to the time of the next tax collection, then the annual tax levy may be reduced by such amount. The Township Board shall each year, at least 90 days prior to the final date provided by law for the making of the annual township tax levy, submit to the County Agency a written statement setting forth the amount of its obligations to the county which become due and payable under this contract prior to the time of the next following year's tax collections, the amount of the funds which the municipality has or will have on hand or to its credit in the hands of the county which have been set aside and pledged for payment of said obligations to the county, and the amount of the township taxes next proposed to be levied for the pur- pose of raising money to meet such obligations. The County Agency shall promptly review such statement and, if he finds that the proposed township tax levy is insufficient, he shall so notify the Township Board, and the municipality hereby covenants and agrees that it will thereupon increase its levy to such extent as may be required by the County Agency. -11- 12. No change in the jurisdiction over any territory in the municipality shall in any manner impair the obligations of this contract or affect the obligations of the municipality hereunder. In the event that all or any part of the territory of the municipality is incorporated as a new city or village or is annexed to or becomes a part of the territory of another municipality, the municipality into which such territory is incorporated or to which such territory is annexed shall assume the proper proportionate share of the contractual obligations (including the pledge of full faith and credit) of the munici- pality, which proper proportionate share shall be fixed and determined by the County Agency and shall be binding upon all parties concerned unless, within sixty (60) days after such incorporation or annexation becomes effective, the governing body of the municipality into which such territory is incor- porated or to which such territory is annexed and the Township Board shall by mutual agreement and with the written approval of the County Agency fix and determine such proper proportionate share from a committee composed of one representative designated by the Township Board of the municipality, one designaged by the governing body of the new municipality or the municipality annexing such territory, and one independent registered engineer appointed by the County Agency. Each governmental unit shall appoint its representative within fifteen (15) days after being notified to do so by the County Agency and within a like time the County Agency shall appoint the engineer third member. If any such representative (other than the appointee of the County Agency) is not appointed within the time above provided, then the County Agency may proceed without said recommendation. If the committee shall not make the recommendation within forty- -12- five (45) days after its appointment or within any extension thereof by the County Agency, then the County Agency may proceed without such recommendation. 13. This contract is contingent upon the county issuing its negotiable bonds as herein provided, to defray such part of the total estimated cost of the system as is neces- sary to be financed, which bonds shall be issued under the authorization provided in Section 5a, 5b and 5c of said Act 342. Interest on the bonds shall be capitalized and paid from the bond proceeds for a period not exceeding the estimated construction period and one year thereafter. In the event that the bonds are not issued within three years from the date of this contract, then unless extended by mutual agreement it shall become null and void, except that the municipality shall pay all engineering, legal and other costs and expenses theretofore incurred and shall be entitled to all plans, specifi- cations and other engineering data and materials. 14. Upon completion of the system the county does hereby lease the same to the municipality to operate and maintain the same upon the following terms and conditions: (a) The facilities shall be used and operated by the municipality in compliance with all con- tractual and legal obligations applicable to the municipality, and the municipality expressly covenants and agrees to comply with the provi- sions of U.S. Public Law 92-500, the Federal rules and regulations thereunder, and the rules, regulations and orders of the Michigan Depart- ment of Natural Resources all of which are applicable to the system by reason of Federal -13-- and State grants made and received to finance part of the cost of the facilities hereby leased.. (b) The municipality, at. its own expense, shall maintain said facilities in good condition and repair to the satisfaction of the County Agency. The County Agency shall have the right to inspect the said facilities at any time and if said facilities or any part thereof are not in a state of good condition and repair, then the County Agency shall notify the municipality in writing as to any deficiency. If the municipality shall fail to restore the facilities to a good condition and repair within a reasonable time thereafter, then the County Agency shall have the right to perform the necessary work and furnish the necessary materials, and reimbursement for any expense incurred by the county shall be made by the municipality to the county within thirty (30) days after the expense has been incurred. (c) The municipality shall adopt and continue in existence and shall enforce an ordinance or ordinances concerning the connections of premises in the municipality to the facilities and concerning the use of and the payment of charges for the use of the facilities. (d) The municipality shall make and collect from the individual users of the facilities such charges for sewage disposal service as shall . be sufficient to pay the cost of the operation -14- and maintenance of the facilities, the cost of sewage disposal charges required to be paid by the municipality, and to establish suitable reserves for operation and maintenance. Such charges may also include an amount determined by the municipality to be used to meet the obligations of the municipality to the county under this contract and other contracts with the county for sewage disposal services and facilities. The municipality shall enforce prompt payment of all such charges as the same shall become due. (e) The municipality shall secure and maintain adequate property damage and public liability insurance covering all facilities hereby leased to it by the county. All policies of insurance shall provide that the township and the county shall be insured parties thereunder and shall contain a provision requiring that the County Agency be notified at least ten days prior to cancellation thereof. One copy of each policy of insurance shall be filed with the County - Agency. The municipality agrees to lease the project from the county upon the foregoing terms and conditions and for the period of this contract and agrees to pay the sum of $1.00 per year on January 1st of each year commencing January 1, 1978, and in addition to perform its covenants and agreements set forth in this contract as a rental for said project. 15. The county shall have no obligation or respon- sibility for providing sewers or sewage disposal facilities except as herein expressly provided with repect to the acquisi- -15- tion of the system or as otherwise provided by contract. The municipality shall have the authority and the responsibility to provide such other facilities and shall have the right to expand the facilities of the system by constructing or extending sewers or related facilities, connecting the same to the system, and otherwise improving the system. It is expressly agreed, nevertheless, that no such connection (other than individual tap-ins) shall be made to the system and no improvements, en- largements or extensions thereof shall be made without first securing a permit therefor from the County Agency. Any such permit may be made conditional upon inspection and approval of new construction by the County Agency. It is further agreed that the system shall be used for collection and conveyance of sanitary sewage only and that the municipality shall take all necesasry action to Prevent entry into the system of storm waters and also to prevent entry of sewage or wastes of such a character as to be injurious to the system or to the public health and safety. 16. All powers, duties and functions vested by this contract in the county shall be exercised and performed by the County Agency, for and on behalf of the county, unless otherwise provided by law or in this contract. 17. The parties hereto recognize that the holders from time to time of the bonds to be issued by the County under the provisions of Act 342, and secured by the full faith and credit pledge of the municipality to the making of its payments as set forth in this contract, will have contractual, rights in this contract, and it is therefore covenanted and agreed that so long as any of said bonds shall remain outstanding and unpaid, the provisions of this contract shall not be subject to any alteration or revision which would in any manner adversely -16-- affect either the security of the bonds or the prompt payment of principal or interest thereon. The right to make changes in this contract, by amendment, supplemental contracts or other- wise, is nevertheless reserved insofar as the same do not have such adverse effect. The parties hereto further covenant and agree that they will each comply with their respective duties and obligations under the terms of this contract promptly, at the times and in the manner herein set forth, and will not suffer to be done any act which would in any way impair the contract of said bonds, the security therefor, or the prompt payment of principal and interest thereon. It is hereby declared that the terms of this contract and of any amendatory or sup- plemental contract and any contract entered into pursuant hereto, insofar as they pertain to said bonds or to the payment of the security thereof, shall be deemed to be for the benefit of the holders of said bonds. ,18. In the event that any one or more of the provisions of this contract shall for any reason be held to be invalid, illegal or unenforceable in any respect such invalidity, illegality or unenforceability shall not affect any other pro- visions hereof, but this contract shall be construed as if such invalid, illegal or unenforceable provision has never been contained herein. 19. This contract shall become effective upon its execution by each party hereto and the expiration of 45 days after the date of publication of the notice required by Section 5b of Act 342: Provided, however, that if, within the 45-day period, a proper petition is filed with the Township Clerk of the Charter Township of Waterford in accordance with the provisions of said Section Sb of Act 342 then this contract shall not become effective until approved by the vote of a majority of the electors of the township qualified to vote -17- and voting thereon at a general or special election. This contract shall terminate forty (40) years from the date hereof or on such earlier date as shall be mutually agreed: Provided, however, that it shall not be terminated at any time prior , to the payment in full of the principal of and interest on county bonds together with all bond service charges pertaining to said bonds. This contract may be executed in several counter- parts. The provisions of this contract shall inure to the benefit of and be binding upon the successors and assigns of the parties hereto. IN WITNESS WHEREOF, the parties hereto have caused this contract 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. CHARTER TOWNSHIP OF WATERFORD COUNTY OF OAKLAND By By Supervisor County Drain Commissioner (County Agency) By Township Clerk fA.T r. 1'. I s 45.3. 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January CLINTON-0A11.AND SEWAGE DISPOSAL SYSTEM WATERFORD EXTENSIONS - PHASE V Estimate of Cost Total Construction Cost $17,136,220.00 Engineering Consulting Engineer (Design). . $ 960,000 Consulting Engineer (Stakeout) . 260,000 Soil Borings • . . • . 40,000 $1,260,000 1,260,000.00 Project Administration . . — . • 430,000.00 Inspection . . . . . . . 860,000.00 Easement Acquisition . . • . • . . • . — 1,225,000.00 Act 347 Permit . . . . . . . • • • 9,200.00 Financial Consultant . . . • . .•. 32,500.00 Bond Counsel . . . . . . . 40,500.00 Bond Prospectus • 00000000000 a • • • 0 3,200.00 CPA Report Required for Bond Prospectus . . 3,500.00 Bond Printing . . . . . — . . 300.00 Publishing Oakland Press . • • . $ 200.00 Michigan Contractor & Builder. . 150.00 Bond Buyer — . . . 600.00 Local Publication . . • . 200.00 $1,150.00 1,150.00 Contingency. — . . . . . • — 1,614,430.00 Sub-Total $22,616,000.00 Capitalized Interest . . — • • . . . . Total Estimated Project Cost $25,700,000.00 hereby estimate the period of usefulness of this facility to be forty (40) years and upwards. JOHNSON AND ANDERSON, INC. EXHIBIT "B" 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 a resolution adopted at a regular meeting of the Oakland County Board of Commissioners, held on the 3rd day of February , 1977,• the original of which icon file in my office. IN WITNESS WHEREOF, I have hereunto affixed my official signature this 3rd day of February Lynn D. Allen County Clerk , A.D.1977.