HomeMy WebLinkAboutResolutions - 1974.11.07 - 15269RESOLUTION NO. 6876
BY: PatnaIes
IN RE: EDWARDS RELIEF DRAINS
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 Edwards Relief Drains
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 March 24, 1969; and
WHEREAS, the said Daainage Board by resolution adopted on
November 7, 1974, authorized and provided for the issuance of bonds
in the aggregate principal amount of $7,000,000 in anticipation of
the collection of an equal amount of special assessments against the
Township of West Bloomfield and the County of Oakland, said special
assessments having been duly confirmed 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 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.
PUBLIC WORKS COMMITT1:4
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 Township of West Bloomfield or the County of
Oakland shall fail or neglect to account to the County Treasurer of
the County of Oakland for the amount of any special assessment install-
ment and interest, for the Edwards Relief Drains, 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 Public Works Committee, I
move the adoption of the foregoing resolution.
-2-
ADOPTED: Yeas — Moffitt, Montante, Nowak, Olson, Patnales, Perinoff, Pernick,
Richardson, Vogt, Wilcox, Berman, Brotherton, Burley, Button, Coy,
Dearborn, Douglas, Dunleavy, Gabler, Hobart, Hoot, Houghten, Kasper,
Lennon. (24)
Nays — None. (0)
Absent — Quinn, Walker. (2)
November
7\
A.D., 1974.
County Clerk
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 7th day of November , 1974,
the original of which is on file in my office.
IN WITNESS WHEREOF, I have hereunto affixed my official
signature this 7th day of