HomeMy WebLinkAboutResolutions - 1971.07.01 - 16102RESOLUTION No 5753. Ty 1, 1971
BY: Mr. Lennon
IN RE: RAMIRO DRAIN
TO THE OAYLAND COUNTY BOARD OF COMMISSIONERS
MR. CHAIRMAN, LADIES AND GENTLEMEN:
WHEREAS, proceedings have been Itaken by the Statutory
Drainage Board for the construction of the Ramiro Drain under the
provisions of Act No 40 of the Public ACts of Michigan of 1956, as
amended, pursuant to a petition filed by ':the Township of Avon on
October 15, 1968; and
WHEREAS, the said Drainage Board by resolution adopted on
June 9, 1971, authorized and provided for the issuance of bonds in
the aggregate principal amount of $390,00.0 in anticipation of the
collection of an equal amount. of special assessments against the
Township of P:7:Pnn and the County of Oakland, said special assessments
having been therefore duly confirmed by said Drainage Board;
WHEREAS, said bonds are to be designated Drain Bonds, are
to be dated November 1, 1971, will bear interest at a rate not
exceeding 7%, and will be subject to redemption prior to maturity
in accordance with the provisions of the bond resolution: and
WHEREAS, Section 474 of said Act No 40, as amended,
provides in part as follows:
If any public corporation fails or neglects
to account to the county treasurer for the amount
to any installment and interest, then the county
treasurer shall advance the amount thereof from
county funds in the following Cases;
"(1) If any bonds or other evidence of in-
debtedness have been issued to finance a project,
. the petition for which was filed after June 6,
1961 in anticipation of the collection of the
installment and interest pursuant to the provisions
of this chapter and the board Of s1.77ervisors has
previously acted, by a resolution adopted by a 2/3
vote of its members elect, to Pledge the full faith
and credit of the county for the prompt payment of
the principal of and interest On the bonds or
evidence of indebtedness, or
"(2) If any bonds or other evidence of in-
debtedness have been issued tolfinance a project,
the petition for which was filed prior to June 6,
1961 in anticipation of the collection of the
installment and interest pursuant to the provisions
of this chapter."
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 neces-
sary 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.
NOW, THEREFORE, BE IT RESOLVED1BY THE OAKLAND COUNTY
BOARD OF COMM7S5TON7,7S:
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 C=r,li sioners 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 Avon 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 installment
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PUBLICWORKS COMMITTEE
(—)
ilaIrman
and interest, for the Ramiro Drain, when Idue, then the amount thereof
shall be immediately advr1 ,:::ed from County Funds, and the County
Treasurer is directed to immediately make such advancement to the
extent necessary,
2. That in the event that, putsuant 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 reso-
lution be and the same hereby are rescinded.
MR CHAIRMAN, on behalf of the Public Works Committee, I
move the adoption of the foregoing resolution
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signature this 1st day of , A.D. 1971. July
ADOPTED: Ayes: Coy, Daly, Edwards, Gabler, Hamlin, Harrison, Horton, Houghten,
Kasper, Lennon, Mainland, Mathews, Olson, Perinoff, Pernick,
Powell, Richards, Richardson, Simson, Szabo, Wilcox, Aaron,
Barakat, Bawden, Brennan, Burley. (26)
Nays: None. (0)
Absent: Patnales. (1)
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 fore-
going is a true and complete copy of a resolution adopted by a
2/3rds vote of the members elect at a regular meeting of the Oakland
County Board of Commissioners, held on the 1st day of July
1971, the original of which is on file in my office.
IN WITNESS WHEREOF, I have herc:_Into affixed my official
Lynn D. Allen, County Clerk