HomeMy WebLinkAboutResolutions - 1976.03.04 - 14257RESOLUTION NO, _14/7b77 March 4, 1976
BY Planning & Building Committee
IN RE: BRENNAN 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 Brennan 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 February 11, 1976, authorized and provided for the issuance
of bonds in the aggregate principal amount of $110,000 in
anticipation of the collection of an equal amount of a special
assessment against the City of Southfield, said special assess-
ment having been duly confirmed by said Drainage Board; and
WHEREAS, said bonds are to be designated Drain Bonds,
are to be dated April 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 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 Southfield 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.
Chairman
signature this 5th day of March , A.D. 1976.
MR. CHAIRMAN, on behalf of the Planning and Building
Committee, I move the adoption of the foregoing resolution.
PLANNING AND BUILDING COMMITTEE
ADOPTED: Yeas McDonald, Moffitt, Montante, Nowak, Olson, Page, Patterson, Perinof —
Pernick, Price, Roth, Simmons, Wilcox W9son, Aaron, Daly, Dearborn. Qunleavy. Fortino,
Gabler, Hoot, Houghten., Kasper, 1HER APPROVE
Lennon, (24)
Nays None. (0 )
Absent — Button, Douglas. (2)
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 4th day of March 1976, the original
of which is on file in my office.
IN WITNESS WHEREOF, I have hereunto affixed my official
Count y Clerk Lynn D. Allen
SS:
SECp41
t 551
9
IKE ROAD
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BRENNAN DRAIN
CITY OF SOUTHFIELD OAKLAND COUNTY, MICHIGAN
DRAINAGE DISTRICT MAP
SCALE: 1".7 200'
APPORTIONMENT OF COSTS
CITY OF SOUTHFIELD----... -100%
MK MR ROAD \
BRENNAN DRAIN
1. Construction
2. Engineer's Design Fee $ 6,600.00
Resident Engineer 2,500.00
Soil & Material Testing 1,000.00
3. Inspection
$ 68,532.95
$ 10,1 00.0 0
$ 6,000.00
4. Staking and Layout 600.15
5, Publishing
Daily Tribune $ 100.00
Mich. Cont. & Builder 120.00
Mich. Investor 300.00 520.00
6. Bond Printing 300.00
7. Rights-of-Way $ 2,000.00
8. Bond Counsel $ 1,500.00
9. Financial Consultant $ 3,000.00
10. Act 347 Permit 270.00
11. Drainage Board Meeting Costs 300.00
12, Bond Prospectus $ 1,000.00
13. Capitalized Interest (110,000 x 8% x 1 yr.) $ 8,800.00
14. Contingencies (6.87%)
$ 7,076.90
TOTAL ESTIMATED COST $ 110,000.00
Prepared by:
James E. Pemberton,
Deputy & Chief Engineer
January 23, 1976