HomeMy WebLinkAboutResolutions - 1982.06.17 - 13847MISCELLANEOUS RESOLUTION 8 2182 June 17, 1982
BY: OAKLAND COUNTY FINANCE COMMITTEE, G. WILLIAM CADDELL, CHAIRPERSON
RE: ELIMINATION OF LONG TERM ADVANCE AND RELATED RESERVE
TO: THE OAKLAND COUNTY BOARD OF COM=SSIONEPS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS, the County Board of Supervisors, in 1968, authorized
advances to the Airport Fund in the amount of $433,475.70 for T-hangar
construction; and
WHEREAS, the original resolution contained no provisions for
repayment to the general fund; and •
WHEREAS, such advances were fully reserved indicating a lack of
intent to recover these funds; and
WHEREAS, future capital improvement needs at the Airport make it
highly unlikely that the Airport operation will accumulate sufficient
funds for repayment in the near future; and
WHEREAS, the auditing firm of Coopers and Lybrand recommended in
their report to the Board of Commissioners that long term advances should
be considered permanent contribution if there is little likelihood of
repayment.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of Commissioners
authorizes the write-off of the long term advance in the amount of $433,475.70
to the Airport Fund against the established reserve in the same amount.
Mr. Chairperson, on behalf of the Finance Committee, I move the
adoption of the foregoing resolution.
# 82182 June 17, 1982
L1tLIA. ALL EN
Coup/L7 Clerk/Register of Deeds
this 17th
Moved by Caddell supported by Peterson the resolution be adopted.
AYES: Hobart, Lanni, McDonald, Moffitt, Montante, Moore, Olsen, Page, Patterson,
Pernick, Peterson, Price, Whitlock, Wilcox, Aaron, Caddell, C .agney, Calandra, DiGiovaprli,
Doyon, Fortino, Gabler, Geary, Gosling. (24)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted.
STATE OF M1CHir;AN)
COUNTY OF OAKAND)
1, Lynn D Allen, Clerk of the County of Oakland and having a seal,.
-do hereby certify that I have compared theannexed copy of
Miscellaneous Resolution #82182 adopted by the Oakland County Board of Commissioner
at their meeting held on June 17, 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