HomeMy WebLinkAboutResolutions - 1975.02.06 - 14554Aci
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RESOLUTION NO. 6953 January 23, 1975
BY: PLANNING AND BUILDING COMMITTEE Patrick M. Nowak, Chairman
IN RE: FRACASSI 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 Fracassi 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 on August 15, 1972; and
WHEREAS, the said Drainage Board by resolution adopted on
December 23, 1974, authorized and provided for the issuance of bonds
in the aggregate principal amount of $1,215,000 in anticipation of
the collection of an equal amount of special assessments against the
City of Southfield, said special assessments having been duly con-
firmed by said Drainage Board; and
WHEREAS, said bonds are to be designated Drain Bonds, are
to be dated February 1, 1975, will bear interest at a rate not ex-
ceeding 8% and will be subject to redemption prior to maturity in
accordance with the provisions of the bond resolution; and
WHEREAS, said Drainage Board deems it advisable and neces-
sary 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 drainge project is immediately necessary
to protect and preserve the public health and therefore it is in the
best interest of the County of Oakland that said bonds be sold.
I APPROVE THUOREGOING RESOWT Chairma
Patrick M. Nowak
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 Coutny 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 ac-
count to the County Treasurer of the County of Oakland for the amount
of any special assessment installment and interest, for the Fracassi
Drain, when due, then the amount thereof shall be immediately advanc-
ed from County Funds, and the County Treasurer is directed to immedi-
ately 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,
move the adoption of the foregoing resolution.
PLANNING0A-ND BUILDING COMMITTEE
ADOPTED: Yeas — Daly, Dearborn, Douglas, Durleavy, FortiO,o, (;abler, Hoot,
Hougte, Kasper, Lennon, McDonald, Moffitt, Montante, Nowak, Olso
Page, Patterson, Perinoff, Pernick, Price, Roth, Wilcox, Wilson,
Aaron, Button. (25)
Nays — None, (0)
A-bSent — Coy, ST .rnmo .n,s. (2)
signature this day of February A.D., 1975. 6th
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
Board of Commissioners, held on the 6th day of February , 1975,
the original of which is on file in my office.
IN WITNESS WHEREOF, I have hereunto affixed my official
Lynn D. A len, County Clerk
The Chairman announced pursuant to Rule XI-E the matter
shall be laid over to the next regular Board meeting.
6953