HomeMy WebLinkAboutResolutions - 1976.07.08 - 14158July 8, 1976
PESOLUTION NO
BY 1 Mr. Daly
IN RE: HUDSON 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 Hudson 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
June 16, 1976, authorized and provided for the issuance of bonds in
the aggregate principal amount of $1,390,000 in anticipation of the
collection of an equal amount of a special assessment against the
City of Novi, 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 September 1, 1976, will bear interest at a rate not exceeding
8% 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 consenting 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 therefore it is in the best
interest_of tile County of Oakland that said bonds be sold..
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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 Novi 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
Patrick K. Daly, Chairman
ADOPTED: Yeas — Perinoff, Pernick, Price, Roth, Simmons, Wilcox, Aaron, Button, Daly,
Dearborn, Douglas, Dunleavy, Fortino, Gabler, Hoot, Lennon, McDonald,
Moffitt, Montante, Nowak, Olson, Page, Patterson, (23)
Nays — None, (0) •
Absent — Houghten, Kasper, Murphy. Wilson, (4)
signature this 8th day of A.D. 1976. July
STATE OF MICHIGAN )
) SS:
COUNTY OF OAKLAND )
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 Board
Ju l y of Commissioners, held on the 8th day of , 1976,
the original of which is on file in my office.
IN WITNESS WHEREOF, I have hereunto affixed my official
Lynn D. Allen, County Clerk
r ESTIMATE OF COST
HUDSON SANITARY DRAIN
1. Construction
2. Engineer's Design Fee* 96,000.00
Resident Engineer (Contract Adm.) 26,320.00,
Soil & Material Testing 4,400.00
Soil Borings 25,000.00
3. Inspection
4. Staking & Layout 13,160.00
5. Publishing
Oakland Press 250.00
Novi News 100.00
Michigan Contractor & Builder 100.00
Bond Buyer 500.00
6. Bond Printing 400.00
7. Rights-of-Way
8. Bond Counsel
9. Financial Consultant
10. Act 347 Permit
11. Drainage Board Meeting Costs
12. Bond Prospectus
13. Capitalized Interest (8% x 1,390,000 x 8 months)
14. Contingencies
877,199.00
151,720.00
39,500.00
13.160.00
950.00
400.00
82,777.00
7,475.00
6,890.00
2,193.00
500.00
3,000.00
74,134.00
130,102.00
. TOTAL ESTIMATED COST $1,390,000.00
*Includes re-routing studies and design connected thereto.
•
Revisedt June 11, 1976
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APPORTIONMENT
CITY OF NOV] :100.00s,
COUNTY OF OAKLAND 0.00%
STATE OF MICHIGAN Os00k-
100.00%
COST ESTIMATE n,390,000,00
HUDSON SANITARY DRAIN .
HURON-ROUGE SEWAGE DISPOSAL SYSTEM
0A[SLAND COUNTY MrCHIGAN
jUij 2376