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HomeMy WebLinkAboutResolutions - 1976.09.16 - 143877696 RESOLUTION NO, BY: Mr. Daly IN RE: BINGHAM FARMS WATER SUPPLY SYSTEM TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS MR. CHAIRMAN, LADIES AND GENTLEMEN: WHEREAS, the Village of Bingham Farms is in urgent need of the water supply improvements and facilities which are described in the form of proposed contract hereinafter mentioned as constituting the "Bingham Farms Water Supply System" (hereinafter sometimes referred to as the "county system" or the "system), in order to provide and distribute City of Detroit treated water in the Village and thus to promote the health and welfare of the residents thereof, which improve- ments and facilities would likewise benefit the county and its residents, and the parties to Said proposed contract have concluded that such improvements and facilities can be most economically and efficiently provided and financed by the County through the exercise of the powers: conferred by Act 342, Public Acts of Michigan, 1939, as amended, and especially Sections 5a, 5b and 5e thereof; and WHEREAS, the County Drain Commissioner (hereinafter sometimes referred to as the "County Agency") has accordingly caused to be prepared a proposed contract between the county and the Village of Bingham Farms, dated as of July 1, 1976, providing for the acquisition, construction and financing of said county system and has also caused to be prepared by the county's consulting engineers, plans for the construction thereof and estimates of $1,025,686 as the total cost thereof and forty (40) years and upwards as the period of usefulness thereof, all of which have been submitted to this Board of Commissioners for its approval and adoption and have been placed on file in the office of the County Agency, a description of such facilities and said estimates being respectively set forth in Exhibits A and B attached to said proposed contract; and WHEREAS, this Board of Commissioners desires, to proceed with the establishment of said system and the acquisition, construction and financing of said system as provided in said contract; THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF OAKLAND COUNTY, MICHIGAN, as follows: 1. That this Board by majority vote of its members- elect does hereby authorize and direct that there be established and there is hereby established, under and pursuant to Act No. 342, Public Acts of Michigan, 1939, as amended, a system of water supply improvements and services to serve the Village of Bingham Farms, Oakland County, Michigan, to be known as the "Bingham Farms Water Supply System", which system shall consist of water supply facilities to serve the Village of Bingham Farms, as specified and to be located as stated in the form of proposed contract above mentioned; that the Oakland County Drain Commissioner is hereby designated and appointed as the "County Agency" for said County system; that the said County Agency shall have all the powers and duties with respect to said County system as are provided by law and especially by said Act 342; and that all obligations incurred by the County Agency with respect to said system, unless otherwise authorized by this Board, shall be payable solely from funds derived from State and/or Federal grants or payMents to be made by the _Village of Bingham Farms as provided in the said contract. 2. That the actions of the County Agency in causing the plans and estimates for the system to be prepared are hereby ratified and confirmed and said plans and estimates are hereby approved and adopted. 3. That the proposed contract between the County of Oakland and the Village of Bingham Farms, dated as of July 1, 1976, is hereby approved and adopted, and the Oakland County Drain Commissioner. (as the County Agency for the system) is hereby authorized and directed to execute and deliver said contract for and on behalf of the county, in as many counter- parts as may be deemed advisable. 4. That the copy of said proposed contract as sub- mitted to and approved by this Board be identified by endorse- ment thereon by the County Clerk of the statement "Approved by Board of Commissioners on September 16 attached to the minutes of this meeting. , 1976, and be MR. CHAIRMAN, on behalf of the Planning and Building Committee, I move the adoption of.the foregoing resolution. PLANNING AND BUILDING COMMITTEE ADOPTED: Yeas Nays — Kasper, Lennon, McDonald, Moffitt, Montante, Murphy, Nowak, Olson, Patterson, Perinoff, Pernick, Roth, Simmons, Wilcox, Wilson, Aaron, Button, Daly, Dearborn, Douglas, Dunleavy, Fortino, Gabler, Hoot. (2)-i) — None. (0) Absent — Houghten, Page, Price. (3) ,1 16th d ay o f Septempber 76, the original of which STATE OF MICHIGAN ) ) SS: COUNTY or OAKLAND ) I, the undersigned, the duly cjualified and acing County Clerk of the County of Oakland, do hereby certify that the foregoing is a true and complete copy of a resolution adopted at a regular meeting of the Oakland County Board of Commissioners, held on the is on file in my office. IN WITHNESS WHEREOF, I have hereunto affixed my official siganture this 16th day of September A.D. 1976. Lynn D. Allen, County Clerk BIN7HAMTAS .WATER SUPPLY_SvSTEM CONTRACT THIS CONTRACT, made and entered into this 1st day of July, 1976, by and between the COUNTY OF OAKLAND, a Michigan county corporation (hereinafter refer r ed to as the "County"), acting by and through its Drain Commissioner, County Agency, party of the first Part, and the VILLAGE OF BINGHAM FARMS, being a village corporation located in the County of Oakland, Michigan (hereinafter referred to as the "village"), of the second part; party yqITNESSET H: WHEREAS, pursuant to the provisions of Act No. 185, Public Acts of Michigan, 1957, as amended, the Oakland County Board of Commissioners by Resolution, Misc. No. 6691, adopted on June 6, 1974, did approve of establishment of the Bingham Farms Water Supply System to serve the Bingham Farms Water Supply District, within which District lies all of the village; and WHEREAS, pursuant to Act No, 342, Public Acts of Michigan, 1939, as amended (hereinafter sometimes referred to as "Act 342"), the Board of Commissioners of the county has heretofore, by majority vote of its members-elect, authorized and directed that there be established a county system of water supply improvements and services to serve the village, said system to be known as "Bingham Farms Water Supply System" (hereinafter sometimes referred to as the "county system" as the "system"), and has designated the Oakland County- Drain Commissioner as the County Ag e ncy for the system with all powers and duties with respect thereto as are provided by Act 342 (said Drain Commissioner being hereinafter sometimes referred to as the "County Agency"); and WHEREAS. und,er and subject to the terms of Act 342, the County is authorized, through the County Agency, to accuire and construct the water supply improvements and facilities hereinafter described as constituting the county system, the county and the village are authorized to enter into a contract, as hereinafter provided, for the acquisition and construction of the system by the county and fot financing all or part of the cost • thereof by the issuance of bonds by the county secured by the pledge of the full faith and credit of the vill a ge to pay such cost with interest to the Countyin installments extend- ing over a period not exceeding forty (40) years, and the county is authorized to issue such bonds and, if authorized by majority vote of the members-elect of its Board of Commissioners, to pledge its full faith and credit for the payment of such bonds and the interest thereon; and WHEREAS, the village is in urgent need of such water supply improvements and facilities to provide the means of receiving and distributing City of Detroit treated water in the village in order to supplant Untreated ground waters in the village and thus to promote the health and welfare of the residents thereof, which improvements and facilities would likewise benefit the county and its residents, and the parties hereto have concluded that such improvements and facilities can be most economically and efficiently provided and financed by the county through the exercise of the powers conferred by Act 342, and especially Sections 5a, Sb and 5c thereof; and wT.T.7727, the County Agency has, obtained preliminary plans for the county systlemi and alsO an estimate of $1,025,686 as the total cost of the system and an estimate of forty (40) years and upwards as the period of Usefulness thereof, all of which have been prepared by Giffels-Webster Engineers, Inc. (hereinafter sometimes referred to as the "consulting engineers") and have been submitted to and approved by the Board of Com- missioners of the county and the Village Council of the village and placed on file in the office of the County Agency, said estimates being - set forth in Exhibit B-1 hereunto attached; and WHEREAS, in order to provide for the acquisition and construction of the system by the county and the financing of the cost thereof by the issuance of county bonds, and for other related matters, it is necessary for the parties hereto to enter into this contract. THEREFORE, IN CONSIDERATION OF THE PREMISES AND THE COVENANTS OF EACH OTHER, THE PARTIES HERETO AGREE AS FOLLOWS: 1. The parties hereto do hereby approve and agree to the establishment, acquisition, construction and financing of the Bingham Farms Water Supply System, as herein provided, under and pursuant to Act 342. The village by way of compliance with Section 29, Article _VII, Michigan Constitution of 1963, consents and agrees to the establishment and location of the system within its corporate boundaries and to the use by the county of its streets, highways, alleys, lands, rights-of-way or other public places for the pOrpose and facilities of the system and any improvements, enlargements or extensions thereof, and the village further comes that, in order to evidence and effectuate the foregoing agreem e nt and consent, it will execute and deliver to the county such grants of easement, right-of- way, license, permit or consent as .may be requested by the county. 2. The Bingham Farms Water Supply System shall con- sist of the water supply facilities shown on Exhibit A-1 which is hereunto attached and which is hereby made a part hereof, and as are more particularly set forth in the preliminary plans which have been prepared and submitted by the consulting engineers, which plans are on file with the County Agency and are hereby approved and adopted. The system shall be acquired and constructed substantially in accordance with the said preliminary plans and in accordance with final plans and specifications to be prepared and submitted by the consulting engineers, but variations therefrom which do not materially change the location, capacity or overall diesign of the system, and which do not require an increase in the total estimated cost of the system, may be permitted on the authority of the County Agency. Other variations or changes may be made it approved by the County Agency and by resolution of the Village Council and if provisions required by Paragraph 8 hereof are made for payment or financing of any resulting increase in the total estimated cost. The estimated cost of the system and the estimate of period of usefulness thereof as set forth in Exhibit B-1 are likewise hereby approved and adopted. 3. The County Agency shall take or cause to be takn all actions required or necessary, in accordance with Act 342, to procure the issuance and sale of bonds by the County, in one or more series, in whatever aggregate principal amount is necessary to be so financed to defray that part of the total cost of the county system which is in excess of funds available from Federal and/or State grants or other sources. . Such bonds shall be issued in anticipation of, and be payable primarily from, the payments to be made by the village to the county as provided in this contract, and shall be secured secondarily, if so voted by the Board of: Commissioners of the county, by the pledce of the full faith and credit of the cOunty, and the said bonds shall be payable in annual maturities the last of which shall be not more than forty years from the date thereof. 4. The Coungy Agency shall proceed to take construction . bids for the system and, subject to the sale and delivery of said bonds, enter into construction contracts with the lowest responsible bidder or bidders, procure from the contractors all necessary and -proper bonds, cause the system to be constructed within a reasonable time, and do all other things reqused by this contract and the laws of the State of Michigan. All certificates for required payments to contractors shall be approved by the consulting engineers before presentation to the County Agency and the latter shall be entitled to rely on such approval in making pavment. The county hereby agrees that it will secure, or cause to be secured, and maintain e d during the period of con- struction adequate property damage and public liability insurance covering all facilities to be constructed pursuant to this contract. All Policies and memorandums of insurance shall provide that the county and the village shall be insured parties thr ,7,under and shall co n tain a provision requring thaL the village be notified at least ten days prior to cancellation memorandum of insurance thereof. One copy of each policy shall he filed with the village. 5. It is understood and agreed by the parties hereto that the system is to serve the village and not the individual property owners and users thereof, unless by special arrange- ment between the County Agency and the village. The respon- sibility of requiring connection to and use of the system and or providing such additional facilities, as may be needed, shall be that of the village which shall cause to be constructed and maintained, directly or through the county, any such neces- sary additional facilities. The county shall not be obligated to acquire or construct any facilities other than those designated in paragraph 2 hereof. 6. The village shall pay to the county the total cost of the system (less such funds as may become available from Federal and/or State grants Or from other sources), which total cost for this purpose shall include, in addition to the items of the nature set -forth in Exhibit B-1 (represented by the principal amount of the bonds to be issued by the county plus such funds as may become available from Federal and/or State grants or other sources), all interest payable by the county on said bonds and all paying agent fees and other expenses and charges (including the County Agency's administrative expenses) which are Davable on account of said bonds (such fees, expenseS and charges being herein called "bond service charges"). Such payment shall be made to the county in annual installments which shall he due and payable at least thirty days prior to the date of the month specified in the county bonds as the annual principal maturity date thereof. Such an annual installment shall be so paid in each year, if any principal and/or non-capitalized interest on saidbonds falls due during the twelve-month period beginning on such principal maturity date in said year, and the amount of each installment so due and payable shall be at least sufficient to pay all such principal and/or interest thus falling due and all bond service charges then due and payable, The County Agency shall, within thirty .days after delivery Of the county bonds to the purchaser -, furnish the Village Treasurer with a complete schedule of the principal and interest maturities thereon, and the County Agency shall also, at least thirty days before each payment is due to be made by the village, advise the Village Treasurer of the amount payable to the county on such date If the village fails to make any payment to the county . when due, the same sball be subject to a-penalty of 1% thereof for each month or fracLion thereof that such amount remains unpaid after due. Failure of the 'County Agency to furnish the schedule or give the notice ad above required shall not excuse the village from the obliga±-ion to make payment when due. Such payments shell be made bythe village when due whether or not the system has then been completed or plac e d in oparation. In the event that additional county bonds shall be issued under the authority of this contract, to defray a part of the cost of the system, the foregoing obligations shall apply to such part of the cost and to said additional hon da insofar as apr)roriate thereto. 7. The.village may ay: in a d vance any amount payable to the county pursuant to this contract and in that event shall by the parties her-tr.) OV 1 in advance may any one or m installments or any mart thereof (a) by sur- N he cr ed ited theefor on future- its as may be agree rendering to the county any of said county bonds of like principal amount with all futucp-due coupons attached thereto, or (1)) by paving to the county in cash the principal amount of any county bonds which are subject to redemption prior to maturity, plus all interest thereon to the first day upon which such bonds may be called for redemPtion, and plus all applicable call premiums and bond service charges, and in such event the County Agency shall call said bonds for redemption at the earliest possible date. The installments or parts thereof so prepaid shall be deemed to be the installments or parts thereof falling due in the same calendar yeat as the maturity dates of the bonds surrendered or called for redemption and bonds and coupons so surrendered or redeemed shall be cancelled. 8. In the event that it'shall become necessary to increase the estimated cost of the system as hareinbefore stated, or if the actual cost of the system shall exceed the estimated cost, whether as the result of variations or changes permitted to be made in the apT)roved plans or otherwise, then (without execution of any futther contract or amendment of this contract) the Village Council may, by resolution adopted within fifteen days after the receipt of construction bids, direct that a portion of the svstem he deleted su lent to reduce the to t al cost to an amount which shall not 'exceed the total estimated cost as h(rcinhefore stated by more than 5%, provided that such d e letion shell not materially change the gene scope, overall design, and TDUT:DOSe of the sytem, or in the absence of the adopt inn. of such a resolution the village shall pay or procure the payment of increase or excess in cash, or the coun ty in an increased or addtional amount shall (upon adoption of an authorizing resolution therefor by the Board of Commissioners) be issued to defray -such increased or excess cost, to the extent that funds therefor are not available from other sources: Provided, however,that no such increase or excess shall be approved and no such increased or additional county bonds shall he authorized to be issued, nor shall the county eter into any contract forHacquisition or construction the system or any part thereof Or incur any obligation for or pay any item of cost therefor, where the effect thereof would he to cause the total cost of the system to exceed by more than 5% its total estimated cost as hereinbefore stated, unless the Village Council shall have previously adopted a resolution approving such 'increase or excess and agreeing that the same (or such part thereof as is not available from other sources) shall be Paid or its payment procured by the village in cash or he defrayed by the issuance of increased or addi- tional county bonds in anticipation of increased or additional payments agreed to be made by the village to the county in the manner hereinbefore Provided, further, that the adoption of such resolution by the Village Council shall not be required prior to or as a 'condition precedent to the issuance of .additional bonds by the county, if the county has previously issued or contracted to sell bonds to pay all or part of the cost of the Project and the issuance of the addi- tional bonds is necessary (as determined by the county) Pay si77h increased, additional or excess costs as are essential to co7.;-)lion of tte 72roject according to the plans as last apprm'ed prior to the time when the previous bonds were issued or contracted to be sold to 9. In the event that the actual cost of the system IS lass than the totcl estimated coSt, then any surplus avail- able to the county from the sale or county bonds shall, at the option of the:Village Council,: be used either to improve, enlarge or extend the system, or td apply upon future payments due to the county, or to redeem bonds or to purchase the same on the Open market,- provided taht such surplus shall be used to improve, enlarge or extend the System only if authorized by the Board of Commissioners. Any such surplus may, for the purpose of improving, enlarging or extending the system, he supplemented by cash payments to be made by the village, or such improvements, enlargements or extensions may be financed entirely from such cash payments, where authrolzed by the Village Council. Where any such surplus is used to redeem or purchase bonds, the same shall be cancelled, and the payments thereafter required to be made by the village to the county shall be reduced so as to reflect the resulting saving of interest and the payment required to be made in the calendar year of the stated maturity of said bonds shall be reduced by theprincipal amount thereof. 10.. Should the village 'fall for any reason to pay the county at the times specified; the amounts herein required to be paid, the village does hereby authorize the State Treasurer or other official charged with the disbursement of unrestricted state funds returnable to the village pursuant: to the Michigan constitution to withhold sufficient funds to make up any default or deficiency in funds, If the full faith and credit mi the county is pledged for the Prompt payment of the principal of and interest on the bonds to br, issued by the county and if the county is required to advance any money by reason of such pledge on account of the delinquency of the village, the County any unrestricted moneys in the State Trees 's possession r Tree surer is hereby authroirPd to not the State Treasurer to deol,uct tha .amount of money so advanced the county from • belonging to the village and to pay . such amount to the county. The foregoing shall not operate to limit the county's right to pursue any other legal remedies for the reimbursement Of moneys advanced on account of t default of the village, The village, pursuant to the authorization of Section fa of Act No 342, dope herbv pledge its full faith -and credit for the prompt and timely payment of its obligations expressed in this contract and shall each year levy a tax in an amount which, taking into consideration estimated delin- quencies in tax collections, will be sufficient to pay its obligations under this contract becoming due before the time of the following year 'S tax collections: Provided, however, that if at the time of making its annual tax levy, the village shall have, on hand in cash other funds which have been set aside and pledged or are otherwise available for the payment of such contractual obligations falling due prior to the time the next tax collection, then the annual tax levy may be reduced by such amount. Theyillage Council shall each year, at least 90 days prior to the final date provided by law for the making of the annual village tax levy, submit to the County Agency a written statement setting forth the amount of its obliaations to the county which become due and payable under this .contract prior to the time of the next following year's tax collections, the amount of the funds which the village has or will have on hand or to its cred in the hands of the county whic @ been set aside and pledged For pavmc.Nnt of said oblThations to the county, and the amount of the village fix and determine such proper'proT3ortionate share. The County taxes next proposed to bo 15Vi to the purpose of raising money to meet such obligations. The County Agency shall pcompti review such state and, if he finds that the proposed village tax levy is insufficient, he shall So notify the Village Council s and the villegu hereby covenants and agrees that it will thereupon increase its levy to such extent as may be required by the County Agency. 12. No change in the jurisdiction over any territ in the village shall in anv manner i the obligations of this contract or affect the obligations of the village hereunder. In the event that all or any part of the territory of the village is incorporated as a new city or village or is annexed to or becomes a part of the territory of another municipality, the municipality into which such territory is incorporated or to which such territory is annexed shall assume the proper pro- portionate share of the contractual obligations (including the pledge of full faith and credit) of the village s which proper proportionate share shall be fixed and determined by the County Agency and shall be binding upon all parties con- cerned unless only part of the village is incorporated or annexed and, within sixty (60) days after such incorporation or an- nexation becomes effective, the governing body of the municipalit into which such territory is incorporated or to which such territory is annexi ,:d . and the Village Council shall by mutual agreent and with the written aproval of the County Agency Agency shall, Prior to making such determination, receive a written recommendation us to the 6r ,-,per proportionate share from a cclmcii,ttee co7JDoed of (.)-17:, f errresentative designated by the Village Council of the village, one desgnatied by the tions and other engineeri data and materials. governing bo'..7jv of the new municipality or the municipalit a=exinq such terri._.oz.v., d one independent registered engineer appointed by the countv Agency. Each governmental unit shall ap.-Doint its representative within fifteen (15) days after being notified to do so by the Con: Agency and within a like the County Agency shall appoint the engineer third member. If any such representative (other than the appointee of the County Agency) is not appointed within the time above provided, then the County Agency may proceed without said recommendation. If the committee shall not make the recommendation within . forty-five (45) days after its appointment or with any extension thereof by the County Agency, then the County Agency may proceed without such recommendation. 13. This contract is contingent upon the county issuing its negotiable bonds as her in provided, to defray such part of the total estimated cost of. the system as is neces- sary to he financed, which bonds shall be issued under the authorization provided in Section 5a, 5b and 50 of said Act 342. Interest on the bonds shall bP capitalized and paid from- the bond proceeds for a period not exceeding the estimated construction period and one year thereafter. In the event that the bonds are not issued within three years from the date this oontrdct, then unless extended by mutual agreement it shall become null and void, except that the village shall pay all engineer: 'eclat] and other costs and expenses there- tofote incurred and shall be entitled to all plans, sped -flea- 14. Upon completion of the syStem the county does hereby lease the same to the village to operate and maintain the sara non the following terms and conditions: (a) The system shall be Used only to serve areas in the village (b) The village shall maintain the system in good condition (c) The village and the 6ounty shall not permit the inter connection of the system to any other source of water. (d) The village shall apProd,riate in each year such sums as shall be sufficient at least to pay the cost of operating and maintaining the system, and to establish a fund for Teplace- ments, improvements, and major maintenance of the system- In addition, the village may make and collect such service charges, connec- _ tion charges or special a s sessments to indivi- dual us e rs as shall be deemed desirable to help to pay the operating costs of the village and to provide such other funds for water supply purposes as are deemed desirable. The village shall enforce prompt payment of all such charges -and assessments as the same shall become due, The village hereby accepts the lea Se of the system upon the terms and conditions herein set fo r th. It is further agreed with respect to the system that at all times during the operation thereof by the village, as lessee, that it will obtain and maintain in effect adequ a te proTaerty damage, public liability and workmen's compensation insurane covs,ring all facilities leased to the village under any contract with the county now or hereafter in c,ffect. All policies and memorandum of insurance shall provide that the county and the village shall be ins red oar ti e s thereunder and shall contain a provision requiring that the county be notified at least ten days prior to 'cancellation thereof, One caby of e a ch policy and memorandum of insurance shall be filed with the County Agency. 15. The county shall have no obligation or respon- sibility for providing water or water supply facilities except as herein expressly provided with respect to the acquisition of the system or as otherwise provided by contract. The village shall have the authority and the responsibility to provide such other facilities and shall have the right to expand the facilities of the system by constructing or extending water lines or related facilities, connecting the same to the system, and otherwise improving the system.. It is expressly agreed, nevertheless, that no Such connection (other than individual tap-ins) shall be made to the system and no improvements, en- largements or extensions thereof shall be made without first securing a permit therefor from the County Agency, Any such permit may be made conditional upon inspection and approval new construction by the County Agency. It is further agreed that the system shall be used for receivincf and distributing City of Detroit treated water only and the village shall take all necessary action to prevent entry into the system of other waters. 16. All powers, duties and functions vested by this contract in the county shall he exercised and performed by the County Agency, for and on behalf of the county, unless otherwise provided by law or in this contract, nn, i7 The pot IeS ereto reccj ie that the holders from t len to time of the bonds to b6 issued by the County under the provisions of Act 342, and secured he the full faith and credit pledge of the village to the making of its payments as set forth in this contract, will have contractual rights in this contract, and it is therefore covenanted and agreed that so long as any of said bonds shall remain outstanding and unpaid, the provisions of this contract shall not be subject to any alteration or revision which would in any manner adversely affect either the security of the bOndS or the prompt payment principal or interest thereon. The right to make changes in this contract, by amendment, supplemental contract or other- wise, is nevertheless reserved insofar as the same do not have such adverse effect.- The parties hereto further covenant and agree that they will each comply with their respective duties and obligations under the terms of this contract promptly, at the times and in the manner herein set forth, and will not suffer to be done any act which would in any way impair the contract of said bonds, the security therefor, or the prompt payment of principal and interest thereon- It is hereby de- clared that the terms of this contract and of any amendatory or supplemental contract and any contract entered into pur- suant hereto, insofar as they pertain to said bonds or to the f the security thereof, shall be deemed to be for the benefit of the holders of said bonds. 18 In the event that any one or more of the pro- visions of this contract shall for any reason be held to b- invalid, illegal or unenforceab l e in any respect, such in- validity, illegality or uncnforceability shall_ not affect any other provisions hereof, but this contract shall he con- strued as if such invalid, illegal Or unenforceable provision has never been contained herein. 19. This contract shall become effective upon its execution by each party hereto and the expiration of 45 days after the date of publication of the notice required by Section 5b of Act 342; Provided, however, that if, within the 45 day period, a proper petition is filed With the Village Clerk of the Village of Bingham Farms in accOrdance with the provisions of said Section 5b of Act 342 then this contract shall not become effective until approved by the vote of a majority of the electors of the village qualified to vote and voting thereon at a general or special election. This contract shall terminate forty (40) years from the, date hereof or on such earlier date as shall be mutually agreed: Provided, however -, that it shall not be terminated at any time prior to the pay- ment in full of the principal of and interest on the county bonds together with all bond service charges pertaining to said bonds- This contract may be e$ecuted in several counter- parts. The provisions of this contract shall inure to the benefit of and be binding upon the successors and assigns of the parties hereto. IN WITNESS WHEREOF,- the parties hereto have caused this contract to be executd and delivered by the undersigned, being duly authorized by the respective governing bodies of such parties, all as of the day and year first above written. :VILLAGE OF BINGHAM FARMS By President By COUNTY OF OAKLAND By County Drain Commissioner (County Agency) :Village Clerk SCALZ: I" t200' "VILLAGE OF BINGHAM FARMS" NOTE. 'EXISTING WATER MAIN" - NOTESTII4 ,5- 'ATE R MA .47 \ \ \ \ 111 \ \ b 0 4 EXHIBIT A - I BINGHAM FARMS WATER SUPPLY SYSTEM N?'5 Total Construction Cost = dt 0 0 • A $672,786.20 0 • Total Estimated Project Cost Deduct Village of Bingham Farms Cash Payment . . $1,025,686.00 90,000.00 GITTELS-WEBSTER ENGINEERS „INC. /7 By Frankli P.E. #11302 ebster y, IJ/U BINGHAM FARMS WATER SUPPLY SYSTEM Estimate of Cost 406 L.F. 16" Water Main @$ 27.00 = $ 10,962.00 16,137 L.F. 12" Water Main @ 20.35 = 328,387.95 16,295 L.F. 8" Water Main @ 13.75 = 224,056.25 72 L.F. 16" Road Bore @ 110.00 = 7,920.00 17 Ea, 12" G.V. &W, @ 1,200.00 = 20,400.00 22 Ea. 8" G.V. SW, @ 880.00 = 19,360.00 1 L.S. 8"x6" T.S.V., Box & Hydrant @ 1,850.00 = 1,850.00 63 Ea. Fire Hydrants @ 950.00 = 59,850.00 Engineering Consulting Engineer (Design) Consulting Engineer (Staking & Layout) , Soil and Material Testing „ , Soil Borings • $46,289.00 • . 16,586.00 3,000.00 600.00 66,475.00 Project Administration . . . . „ . . 28,257.00• Inspection . 0 0 A A•0 ••a- 0 A • 0 0 31,621.00 Easement Acquisition . . . 75,000.00 Act 347 Permit . . . ...... „ 1,273.00 Financial Consultant . . . . . . 3,127.00 Bond Counsel . . . . . . . . . . 3,564.00 Bond Prospectus . , .... ... , „ 1,405.00 Bond Printing . „ , „ „ „ 180.00 Publishing Oakland Press $ 400.00 Michigan Contractor & Builder . . . 35.00 Bond Buyer ..... • 0 0 • • A 265.00 Local Publication . 250.00 950.00 Contingency. . . •. . . 65,315.68 Acquire existing systems (Telegraph Road, Bingham Lane & Fromm School) 75,732.12 Total Estimated Bonded Cost = $ 935,686.00 • • •P • I hereby estimate the period of usefulness of this facility to be forty (40) years and upwards. Exhibit "B-1"