HomeMy WebLinkAboutResolutions - 1971.07.01 - 16103esements having been
Board; and
RESOLUTION NO. 5754
BY Mr. Lennon ,
IN RE: SANTA ANN DRAIN
TO THE OAKLAND COUNTY BOARD OF CW.JTSIONTRS
MR. CHAIRMA, LADIES AND GENTIT:
WHEREAS, proceedings have been
Drainage Board for the construction of th
the provisions of Act No. 40 of the Publi
as amended, pursuant to a petition filed
Village on May 11, 1970; and
taken by the Statutory
e Santa Ann Drain under
c Acts of Michigan of 1956,
by the City of Lat171rup
WHEREAS, the said Drainage Board by resolution adopted on
June 9, 1971, authorized and provided forl the issuance of bonds in
the aqfjzc'. principal amount of $260,00!0 in anticipation of the
collect:Ton of an equal amount of special assessments against the
City of Lathrup Village, said special ass
therefore duly confirmed by said Drainage
WHEREAS, said bonds are to be designated Dz'al,r, Bonds, are
to be dated November 1, 1971, will basil. nterest at a rate not
exceeding 7%, and will be subjcct 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 pu?..7seart to the provisions
of this chapter and the board of supervisors 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 oir indebtedness, or
"(2) If any bonds or other evidence of in-
debtedness have been issued to finance 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
solcL
NOW, THEREFORE, BE IT RESOLVED
BOARD OF COMMISSTOrERS:
Y THE OAKLAND COUNTY
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 pledgc
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 Lathrup Village shall
fail or neglect to account to the County Treasurer of the County of
-2-
Oakland for the amount of any special assessment installment and
interest, for the Santa Ann Drain, 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 authorizedloy law for the reimbursement
of such sums so paid,
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,
move the adoption of the foregoing resolution,
PUBLIC. WORKS COMMITTEE
County Board of Commissioners, held on the 1st July day of
July signature this 1st of A.D. 1971.
ADOPTED: Ayes: 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, Coy. (26)
Nays: None. (0)
Absent: Patnales. (1)
STATE OF MICHIGAN )
1SS:
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
1971, the original of which is on file ml office.
IN WITNESS WHEREOF, I have hereunto affixed my official
Lynn D. AlIe n County Clerk