HomeMy WebLinkAboutResolutions - 1974.06.06 - 151296694 RESOLUTION NO.
BY: Public Works - Robert F. Patnales, Chairman
IN RE: HOLLANDER 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 Hollander Drain under the
provisions of Chapter 20 of Act No. 40 of the Public Acts of 1956,
as amended, pursuant to a petition filed by the City of Southfield
on August 15, 1972; and
- WHEREAS, the said Drainage Board by resolution adopted on
May 8, 1974, authorized and provided for the issuance of bonds in
the aggregate principal amount of $190,000 in anticipation of the
collection of an equal amount of special assessments against the
City of Southfield, said special assessments having been therefore
duly confirmed by said Drainage Board; and
WHEREAS, said bonds are to be designated Drain Bonds, are
to be dated July 1, 1974, will bear interest at a rate not exceeding
7% and will not be subject to redemption prior to maturity; 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 drainage 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.
HOLLANDER DRAIN
1. Construction Cost
2. Engineer's Design Fee
3. Inspection
4. Publishing
Daily Tribune 100.00
Southfield Observer 35.00
Southfield Eccentric 200.00
Michigan Contractor & Builder 80.00
Michigan Investor 200.00
5. Printing of Bonds
6. Rights-of-Way (Incl. cost of negotiators)
7. Bond Attorney
8. Financial Consultant
9. Bond Prospectus
10. Drainage Board Meeting Costs
11. Contingencies (4.043%)
$148,792.00
12,751.00
14,958.00
615.00
400.00
500.00
1,900.00
2,000.00
450.00
250.00
7,384.00
TOTAL $190,000.00
By: James E. Pemberton,
Deputy & Chief Engineer
January 7, 1974
NOW, THEREFORE, BE IT RESOLVED BY TUE 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, for the
Hollander Drain, when due, then the amount thereof shall be immediate-
ly 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 Public Works Committee, I
move the adoption of the foregoing resolution.
PUBLIC WORKS COMMITTEE
Robert F. Patnales
Chpil:man
-2-
ADOPTED: Yeas — Moffitt, Nowak, Olson, Patnales, Perinoff, Pernick, Quinn,
Richardson, Walker, Wilcox, Berman, Brotherton, Button, Coy,
Dearborn, Douglas, Dunleavy, Gabler, Hobart, Hoot, Houghten,
Kasper. (22)
Nays None, (0)
Absent — Burley. (1)
—3—
6th A.D., 1974. signature this day of
STATE OF MICHIGAN )
) SS:
COUNTY OF OAKLAND )
1, 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 June
the original of which is on file in my office.
, 1974,
IN WITNESS WHEREOF, I have hereunto affixed my official