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HomeMy WebLinkAboutResolutions - 1976.08.19 - 140587663 RESOLUTION NO. BY: IN RE: TEN MILE-ROUGE SANITARY 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 Ten Mile-Rouge Sanitary 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 July 28, 1976, authorized and provided for the issuance of bonds in the aggregate principal amount of $4,500,000 in anticipation of the collection of an equal amount of a special assessment against the City of Farmington Hills, said special assessment having been duly confirmed by said Drainage Board; and WHEREAS, said bonds are to be designated Drain Bonds, are to be dated October 1, 1976, will bear interest at a rate not exceeding 8-1/2% and will be subject to redemption prior to maturity in accordance with the provisions of said resolution; 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 the City of Farmington Hills 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. -2- GEORGE W. KUHN OAKLAND COUNTY DRAIN COMMISSIONER PUBLIC WORKS DRIVE PONTIAC. MICHIGAN 48054 858-0958 EMERSON R. MINN JAMES E. E. .13ERTON Chief Deploy Commirri,)ner Deputy .1,7d August -1Q, 1976 Honorable Commissioners County of Oakland 1200 N. Telegraph Road Pontiac, Michigan Reference: TEN MILE-ROUGE SANITARY DRAIN Mr. Chairman, Ladies & Gentlemen: There is submitted to you herewith a certified copy of a resolu- tion adopted by the Drainage Board for the Ten Mile-Rouge Sanitary Drain authorizing the issuance of Drain Bonds in the aggregate principal amount of $4,500,000 pursuant to the provisions of Chapter 20 of Act No. 40 of the Public Acts of 1956, as amended, and other applicable law. Also submitted to you herewith is a form of proposed resolution for adoption by the Board of Commis- sioners for the purpose of reaffirming the pledge of full faith and credit of the County of Oakland as secondary security for payment of said Drain Bonds. The said Drain Bonds are issued in anticipation of the payment by the City of Farmington Hills in the aggregate amount of at least equal to the amount of said Bonds. The full faith and credit of said public corporation is pledged, by law, to the prompt payment of said assessments and the interest thereon when due. The law further authorizes and obligates said public corpor- ation to levy a tax in an amount sufficient to make said payment (unless other funds are on hand available for said purpose) which tax may be levied without limitation as to rate or amount. The County is entitled, by law, to recover from said public corporation the amount advanced from County funds at any time in fulfillment of the County's secondary pledge of its full faith and credit, /George W. Kuhn, Chairman ../ A exa&L ,er C. PerinorfT—Member • „.. ence R. Pernic ber OAKLAND COUNTY DRAIN COMMISSIONER Honorable Commissioners August IA 1976 County of Oakland Page 2 It is respectfully requested that the enclosed resolution be reaffirmed for the reasons set forth in the preamble and because the pledge of the County's full faith and credit will result in a material savings in bond interest to be paid. TEN MILE-ROUGE SANITARY DRAINAGE BOARD sil enclosures County Clerk Lynn D. A 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 - Button, Daly; Dearborn, Douglas, Dunleavy, Fortino, Gabler, Hoot, Houghten, Kasper, Lennon, McDonald, Moffitt, Montante, Murphy, Nowak, Olson, Page, Patterson, Perinoff, Pernick, Roth, Simmons, Wilcox. (24) Nays - None. (0) Absent - Aaron, Price, Wilson. (3) STATE OF MICHIGAN ) 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 19th d ay of August , 1925, the original of which is on file in my office. IN WITNESS WHEREOF, I have hereunto affixed my official signature this 19th day of August A.D. SS: 140,544.00 34,358.00 TEN MILE-ROUGE SANITARY DRAIN Estimate of Cost . Construction Phase I Phase II $ 329,774.54 3,123,426.25 3,453,200.79 2. Engineer's Design Fee 210,852.00 Resident Engineer (Contract Adm.) 103,596.00 Soil & Material Testing 7,000.00 Soil Borings 7,500.00 328,948.00 3. Inspection 4. Staking and Layout 5, Publishing Oakland Press Mich. Contractor & Builder Bond Buyer Farmington Observer 6. Bond Prospectus 7. Bond Printing 8. Rights-of-Way . 9. Bond Counsel 10. Financial Consultant 11. Act 347 Permit 12. Drainage Board Meeting Costs 13. Contingencies 400.00 100.00 600.00 230.00 1,330.00 3,000.21 550.00 200,000.00 14,000.00 • 10,250.00 3,753.00 • 497.00 309,569.00 TOTAL ESTIMATED COST $4,500,000.00 Prepared By: James E. Pemberton Deputy and Chief Engineer June 22, 1976 Revised July 27,1976 -.5- 112.j.2.4.V61 11-7)11-T7fr a7Klons or i901.41- / f 5 55-• f , '4.-n--"^"y,---' - f '7 f ---,,,.•---. ...,-"! -'1 "" T , J , .• ,,. i_.,,...a. \ 6 r n; / 1-0.---) .,..ia. (11-.;;; a-1c ----, ) ey c / --, Y ) , -,r---- \\;\,,, : a'l 7 ' ., Iwo01, —1'71 0909 i - r i 3.5.7,-9'!..11 ,“5—ttr"--1L,^C! 4,n—n;7-1, :e 111.1,k, ......, . 1 ' .. • . ' '',-,*, n,. '.... 1 L- T ''2-,"" • •, • •ji ' ..- -s, —' '• - ' 71 -I, I ''‘'... ..- _J 5 A A " , 4 " i.„ ,74J AR JbMiltAZ 093901'5'5 ..:rafAr A II 0, APPORTIONMENT OF COST CITY OF FARMINGTON HILLS 100.00% COUNTY OF OAKLAND 0.00% STATE OF MICHIGAN 0.00% no-Tom TOTAL COST ESTIMATE $4 9 500 9 000 CITY OF FARMINGTON HILLS, MICHIGAN FARMINGTC: SEWAGE DISP: 73AL CT TEN MIL1i—ROUGE SANIT D 11-77.1 com s s ONE R S OFF CE COUNTY OF OAKLAND fCTT ( N