HomeMy WebLinkAboutResolutions - 1982.02.04 - 13505February 4, 1982
Resolution No. 82021
Re: NOTICE OF INTENT TO ISSUE
REVENUE BONDS
By: PLANNING AND BUILDING COMMITTEE - Anne M. Hobart, Chairperson To:
The Oakland County Board of Commissioners Mr. Chairman, Ladies and
Gentlemen:
WHEREAS, the County proposes to issue revenue bonds in an amount
not to exceed $2,100,000, to finance the cost of improving, enlarging
and extending the Clinton-Oakland Sewage Disposal System and the Paint
Creek Interceptor by acquisition of the Oakland-Orion Sewage Disposal
System in the Township of Orion. NOW, THEREFORE, BE IT RESOLVED as
follows: 1. That this Board of Commissioners does hereby approve and
adopt the following Notice of Intent concerning the issuance of said
bonds, to-wit:
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COUNTY OF OAKLAND
OAKLAND-ORION SEWAGE DISPOSAL SYSTEM
NOTICE OF INTENT TO ISSUE REVENUE BONDS IN THE PRINCIPAL AMOUNT OF NOT TO
EXCEED $2,100,000, WITHOUT A VOTE OF ELECTORS.
TO ALI. ELECTORS AND TAXPAYERS OF THE COUNTY OF OAKLAND AND OTHER INTERESTED
PARTIES:
NOTICE IS HEREBY GIVEN, that the Board of Commissioners of the County of
Oakland intends to take proceedings to authorize the issuance of Revenue Bonds
in the aggregate principal amount of not to exceed $2,100,000.00, to defray
part of the cost of improving, enlarging and extending its Clinton-Oakland
Sewage Disposal System and the Paint Creek Interceptor in the Township of
Orion by acquisition of the Oakland-Orion Sewage Disposal System at a total
estimated cost of $2,100,000.00. The revenue bonds will bear interest at a
rate not to exceed 18% per annum, or whatever maximum rate is authorized by
law. NOTICE IS FURTHER GIVEN, that the said bonds will be issued pursuant to
the provisions of Act 94, Public Acts of Michigan, 1933, as amended. The
principal of and interest on the bonds will be payable primarily from the net
revenues derived from the payments by the Township of Orion for sewage
collection, transportation and disposal from areas to be served in the
Township by the facilities to be now acquired, and the Township of Orion has,
as a wholesale customer, contracted to purchase and pay for such sewage
disposal services supplied by the County as provided in a Contract for
Services, dated as of August 1, 1980, as amended, available for inspection at
the offices of the County Executive and Department of Public Works and at the
offices of the Township of Orion, and the obligation to make the payments is a
general obligation of the Township, payable, if necessary, from limited taxes
levied for its general fund within applicable statutory tax limits, although
the Township expects to pay the necessary
amounts from the total revenues of the sewage disposal facilities in
operation in the Township pursuant to its Ordinances. The County and the
Township of Orion will contract and covenant to charge and to pay sufficient
amounts for sewage disposal services to pay the operation and maintenance
expenses of the Township, the County and the Oakland Orion System for sewage
disposal and to pay the principal of and interest on the above described
revenue bonds.
NOTICE IS FURTHER GIVEN, that this notice is given to and for the
benefit of all electors and taxpayers of the County of Oakland in the State
of Michigan, and other interested parties in the County, to inform them that
said bonds will be issued without submitting the question of their issuance
to a vote of the electors of the said County, unless within 45 days from the
publication of this notice, a petition signed by not less than 15,000 of the
registered electors residing within the limits of the County of Oakland
requesting a referendum upon the question of the issuance of such bonds, is
filed with the undersigned County Executive or the County Clerk, in which
event the bonds will not be issued unless and until approved by a majority of
the electors from the said County qualified to vote and voting thereon at a
general or special election.
This notice is given by order of the Board of Commissioners in accor
dance with the provisions of Section 33 of Act No. 94, Public Acts of Michi
gan, 1933, as amended.
DANIEL T. MURPHY
OAKLAND COUNTY EXECUTIVE
Oakland Service Center
1200 North Telegraph Road
Pontiac, Michigan 48053
Telephone: (313) 858-0484
Dated: February 4, 1982
2. That it is hereby found and determined that the Oakland
Press is the newspaper reaching the largest number of persons to whom
this said notice is directed in the County of-Oakland. 3. That it is
hereby determined that the aforesaid notice provides information
sufficient adequately to inform the electors and taxpayers of the
County of Oakland of the nature of the issue to which the said notice
pertains and of their right to file a petition for referendum
requesting an election on the issuance of the bonds. 4. That the
County Clerk is hereby directed to publish said notice once in the
newspaper above named.
Mr. Chairman, I move the adoption of the foregoing
Resolution.
Planning and Building Committee
I HEREBY APPROVE THE FOREGOING RESOLUTION
#82021
February 4, 1982
Moved by Hobart supported by Cagney the resolution be adopted.
AYES: Calandro, Doyon, Fortino, Gosling, Hobart, Jackson, Lanni,
McDonald,
Moffitt, Montante, Moore, Olsen, Page, Perinoff, Pernick, Peterson, Price,
Whitlock, Wilcox, Aaron, Caddell, Cagney. (22)
NAYS: None. (O)
A sufficient majority having voted therefor, the resolution was adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
1, 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 #82021 adopted by the Oakland County Board of Commissioners
at their meeting held on February 4, 1982
,
with the orginial 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
this 4th day of February l982
LYNN D. ALLEN
County Clerk/Register of Deeds