HomeMy WebLinkAboutResolutions - 1971.05.06 - 16181May 6, 1971
At a regular meeting of the Board of Commissioners of Oakland
County, Michigan, held in the Court House Auditorium in the County
Service Center, in the City of Pontiac,i Michigan, on Thursday,
the 6th day of May, 1971, at 9:30 o'clock A. M., Eastern Standard Time.
PRESENT: Aaron, Barakat, Bawden, Brennan, Burley, Coy, Daly,
Edwards, Hamlin, Harrison, Gabler, Horton, Kasper, Lennon, Mainland,
Mathews, Olson, Patnales, Perinoff, Pernick, Powell, Richards,
Richardson, Simson, Szabo, Wilcox. (26)
ABSENT: Houghten. (I)
iles E. Olson, Chairman
May , 1971
RESOLUTION NO 5693
RE: ROAD COMMISSION BORROWING TO PROVIDE FUNDS FOR LOCAL ROAD
SPECIAL ASSESSMENT
BY: TRANSPORTATION & AVIATION COMMITTEE - Mr. Olson
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
MR. CHAIRMAN, LADIES & 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 Commissioners7
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 on a special assessment
basis and to issue its notes therefore, 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; 1 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 December 31, 1971, and no notes eviden-
cing 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 & Aviation Committee, by Mr. Niles E. Olson,
Chairman, move the adoption of the foregoing resolution.
TRANSPORTATION & AVIATION
COMMITTEE
7t h this day of PAY 19.71
Allen Lynn Clerk
#5693
Moved by Olson supported by Gabler the resolution be adopted.
Discussion followed.
AYES: Powell, Richards, Richardson, Simson, Wilcox, Aaron,
Barakat, Bawden, Brennan, Burley, Coy, Daly, Edwards, Gabler,
Hamlin, Harrison, Horton, Kasper, Lennon, Mainland, Mathews,
Olson, Patnales, Perinoff, Pernick. (25)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution
was adopted.
STATE OF MICHIGAN)
(ss
COUNTY OF OAKLAND)
1, Lynn D. Allen, Clerk of the County of Oakland and
having a seal, do hereby certify that_l have compared the annexed copy of
Resolution #5693 adopted at the May 6, 1971 meeting of the Oakland ................... •••“••••n •••••••••4 .......
County Board of Commissioners. .
Bee•004••03 ........ -ef••••••0•••••••••••• .17•••n •••••••C n 0•• ..............
with the original record thereof now remaining in my
office, and that it is z true and correct transcript
therefrom, and of the whole thereof.
In Testimony Whereof, 1 have hereunto set my hand and
. affixed the seal of said County at .. .
By,:'1 ,-,-,-,.‘W—./(?-j.e2-1.--iDeputy. Clerk
on Thursday the 6th day of , 1971, the May
STATE OF MICHIGAN )
COUNTY OF OAKLAND )
I, the undersigned, County Clerk of the County of
Oakland, Michigan, do hereby certify that the foregoing is a
true and complete copy of a resolution'adopted by the Oakland
County Board of Commissioners at a regular meeting thereof held
original of which resolution is on file in my office.
IN WITNESS WHEREOF, I have hereunto affixed my official
signature this 7th day of September A.D. 1971.
Lynn D. Al len, County Clerk