HomeMy WebLinkAboutResolutions - 1972.10.10 - 1593561 1+3 Miscellaneous Resolution October 10, 1972
BY: TRANSPORTATION & AVIATION COMMITTEE - Niles E. Olson, Chairman
IN RE: ROAD COMMISSION BORROWING
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairman, Ladies and Gentlemen:
WHEREAS Act 143 of the Michigan Public Acts of 1943, as amended, authorizes
the Board of County Road Commissioners to borrow money for certain purposes and to issue
its notes in anticipation of, and to pledge for the payment thereof, future revenue derived
from State collected taxes returned to the County for County road purposes, the maximum
amount which may be borrowed to be previously authorized by the Board of County
Commissioners;
NOW THEREFORE BE IT RESOLVED that the Board of County Road Commissioners
of the County of Oakland is hereby authorized to borrow a sum of money not to exceed
$2,000,000.00 to provide funds for the improvement of County local roads and to issue its
notes therefor, pursuant to said Act 143, at an interest rate not to exceed the maximum rate
of interest permitted by law at the time of sale; pledging for the payment thereof future
revenues derived from State collected taxes returned to the County for County road purposes:
Provided, that the authority herein granted shall expire on June 30, 1973, and no notes
evidencing such borrowing shall be issued or delivered thereafter. The full faith and credit
of the County shall not be pledged for the payment of such notes.
The Transportation and Aviation Committee, by Niles E. Olson, Chairman, moves
the adoption of the foregoing resolution.
TRANSPORTATION AND AVIATION COMMITTEE
v
t) 1
#6143
.Moved by Olson supported by Aaron the resolution be adopted.
Discussion followed.
AYES: Coy, Doyon, Gabler, Hamlin, Harrison, Horton, Kasper,
Kronenberg, Lennon, Mainland, Mathews, Olson, Paholak, Pernick,
Simson, Aaron, Barakat. (17)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution
was adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lynn D. Allen, Clerk of the County of Oakland and
having a seal, do hereby certify thati have compared the annexed copy of
Resolution #6143 adopted by the Oakland County Board of ................................................. aaaaa 04.6600406646000690.0
Commissioners at their October 10, 1972 meeting -
.00.000•66.0.0 ********************************** ......... 0000 ......... 00.01
• with the original record thereof now remaining in my
office, and that it is a true and correct transcript
therefrom, and of the whole thereof.
In Testimony Whereof, F have hereunto set my hand and
affixed the seal of Said County at Pontiac, Michigan
10th• October 72 this day of 19...
Lynn D. .................... Clerk
By............... ....... ..... ----Deputy Clerk