HomeMy WebLinkAboutResolutions - 1977.05.05 - 13284May 5, 1977 MISCELLANEOUS RESOLUTION 7961
RE: ROAD COMMISSION BORROWING
BY: PLANNING AND BUILDING COMMITTEE - Richard R. Wilcox
TO: THE OAKLAND COUNTY BOARD OF COMMISSIONERS
MR. CHAIRMAN, LADIES & GENTLEMEN:
WHEREAS, Act No. 143 of the Public Acts of 1943, as amended,
authorizes the Board of County Road Commissioners to borrow money
for certain purposes and to issue its note in anticipation thereof,
and to pledge for payment thereof, future revenue derived from State
collected taxes returned to the County for County road purposes,
the maximum amount which may be borrowed to be previously authorized
by the Board of County Commissioners.
NOW THEREFORE BE IT RESOLVED, that the Board of County Road
Commissioners of the County of Oakland is hereby authorized to borrow
a sum of money not to exceed 3,000,000 to provide funds for the
improvement of County local roads on a special assessment basis, and
to issue its notes IThorefor , pursuant to said Act 143, at an interest
rate not to exceed the maximum rate of interest permitted by law
at the time of sale; pledging for the payment thereof future revenues
derived from State collected taxes returned to the County for County
road purposes. The full faith and credit of the County shall not be
pledged for the payment of such notes.
The Planning and Building Committee,by Richard R. Wilcox,
Chairman, moves the adoption of the foregoing resolution.
PLANNING & BUILDING COMMITTEE
RICHARD R. WILCOX, Chairman
#7961 May 5, 1 977
Moved by Wilcox supported by Doyon the rules be suspended for immediate
consideration of the resolution.
AYES: Fortino, Gabler, Gorsline, Hoot, Kasper, Kelly, Lanni, McConnell,
Montante, Moxley, Page, Patterson, Peterson, Price, Roth, Simson, Wilcox, Aaron,
Daly, DiGiovann4, Doyon. (21)
NAYS: None. (0)
A sufficient majority having voted therefor, the motion carried.
Moved by Wilcox supported by Roth the resolution be adopted.
Discussion followed.
AYES: Gabler, Gorsline, Hoot, Kasper, Kelly, Lanni, McConnell, Moxley,
Page, Peterson, Price, Roth, Simson, Wilcox, Aaron, Daly, DiGiovanni, Doyon, Fortino.
(1 9)
NAYS: None. (0)
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 #7961 adopted by the Oakland County Boprd pf ......... •ea.• • •••••••••••••,•••••••• • a...a.
Commissioners at their meeting held on May 5, 1977
00.0•06•0 00.0.00000.01146 -0.01)fa • 0 06006•0••6-06 00.6•0•••••ne•••••••••.00•0•06460
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
this .. 5 P.1 .. ., ...... —.day of.P1PY 19:7:7..
Lynn D. Alien . . Clerk
By Deputy Clark
Y APPROYE THE FOREGOING RESOLUTION ...,, -
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