HomeMy WebLinkAboutResolutions - 1976.04.29 - 14035RESOLUTION NO. 7542 April 29, 1976
BY: PLANNING & BUILDING COMMITTEE-Patrick Daly, Chairman
IN RE: BROTHERTON DRAIN
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
MR. CHAIRMAN, LADIES AND GENTLEMEN:
WHEREAS, proceedings have been taken by the Statutory
Drainage Board for the construction of the Brotherton Drain under
the provisions of Chapter 20 of Act No 40 of the Public Acts
of 1956, as amended, pursuant to a petition filed with the
Oakland County Drain Commissioner; and
WHEREAS, the said Drainage Board by resolution adopted
on April 14, 1976, authorized and provided for the issuance
of bonds in the aggregate principal amount of $800,000 in
anticipation of the collection of an equal amount of special
assessments against the City of Troy, and the County of Oakland,
said special assessments having been duly confirmed by said
Drainage Board; and
WHEREAS, said bonds are to be designated Drain Bonds,
are to be dated July 1, 1976, will bear interest at a rate
not exceeding 10% and will not be subject to redemption prior
to maturity; and
WHEREAS, said Drainage Board deems it advisable
and necessary to obtain from this Board a resolution consent-
ing to the pledge of the full faith and credit of the county
on the aforesaid bonds; and
WHEREAS, the said drainage project is immediately
necessary to protect and preserve the public health and there-
fore it is in the best interest of the County of Oakland that
said bonds be sold.
NOW, THEREFORE, BE IT RESOLVED BY THE OAKLAND COUNTY
BOARD OF COMMISSIONERS:
1. That pursuant to the authorization provided
in Section 474 of Chapter 20 of the Drain Code of 1956, as
amended, the Oakland County Board of Commissioners does hereby
irrevocably pledge the full faith and credit of the County
of Oakland for the prompt payment of the principal of and
interest on the said Drain Bonds, and does agree that in the
event any public corporation assessed shall fail or neglect
to account to the County Treasurer of the County of Oakland
for the amount of any special assessment installment and
interest, when due, then the amount thereof shall be immediately
advanced from County Funds, and the County Treasurer is directed .
to immediately make such advancement to the extent necessary.
2. That in the event that, pursuant to said pledge
of full faith and credit, the County of Oakland advances out
of County Funds, all or any part of said installment and
interest, it shall be the duty of the County Treasurer, for
and on behalf of the County of Oakland, to take all actions
and proceedings and pursue all remedies permitted or authorized
by law for the reimbursement of such sums so paid.
3. That all resolutions and parts of resolutions
insofar as the same may be in conflict with the provisions
of this resolution be and the same hereby are rescinded.
MR. CHAIRMAN, on behalf of the Planning and Building
Committee, I move the adoption of the foregoing resolution.
PLANNING AND BUILDING COMMITTEE
Chairman
ADOPTED: Yeas - Patterson, Pernick, Price, Roth, Simmons, Wilcox, Wilson, Aaron,
Button, Daly, Dearborn, Dunleavy, Fortino, Gabler, Hoot, Kasper, Lennon, McDonald,
Moffitt, Montante, Murphy, Nowak, Page. (23)
Nays — None, (0)
Absent - Perinoff, Douglas, Houghten, Olson. (4)
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 by a two-thirds vote of the members elect at a regular
meeting of the Oakland County Boad of Commissioners, held
on the 29th day of April 197r,, the original
of which is on file in my office.
IN WITNESS WHEREOF, I have hereunto affixed my
official signature this 29Lh day of rLL .
A.D.
19_76.
Lynn D. Allen, County Clerk
. CONSTRUCTION
PHASE I
PHASE II
PHASE III
$ 398,000.00
$ 8,650.00
$ 262,444.00
BRCiH1. DRAIN
$669,094.00
2. ENGINEERING DESIGN $ 45,096.00
RESIDENT ENGINEER 304.00
SOIL BORINGS ' $. 400.00
SOIL & METERIAL TESTING 800.00
3. INSPECTION
4. STAKING & LAYOUT
5. PUBLISHING
DAILY TRIBUNE $ 150.00
MICHIGAN CONTRACTOR 150.00
BOND BUYER $ _650.00
$ 46,600.00
$ 13,400.00
$ 500.00
950.00
6. BOND PRINTING $ 600.00
70 RIGHTS-of-WAY $ 10,000.00
8. BOND COUNSEL $ 5,500.00
9. FINANCIAL CONSULTANT $ 4,600.00
10. ACT 347 PERMIT $ 440.00
11. DRAINAGE BOARD MEETING COSTS $ 600.00
11A. BOND PROSPECTUS $ 3,000.00
12. CAPITALIZED INTEREST ($800,000 x 10% x 4 months) $ 26,670,00
13. CONTINGENCIES
$ 31,699.93
TOTAL ESTIMATED COST $813,653.93
LSQUARE LAKE ROAD — _
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BROTHERTON DRAIN ROUTE
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City of Troy
County of Oakland
State of Michigan
94 3386'4
3,9833%
1.67817,
TaUTTMOY
DISTRICT MAP
NORTH
APPORTIONNENT OF BROTHERTON DRAIN