HomeMy WebLinkAboutResolutions - 1970.02.19 - 16428At a. meeting of the Board of. Supervisors of the
County of Oakland, State of Michigan, held in the County
Building in the City of Pontiac, Michigan, on the 19th day
February
Standard Time
1970, at 9:30 o'clock A.M., Eastern
PRESENT: Aaron, Bawden, Benson, Brennan, Coy, Edwards, Gabler,
Grba, Hamlin, Horton, Houghten, Kasper, Mainland, Mastin,
Mathews, O'Brien, 0' Donoghue, Olson, Patnales, Perinoff,
Pernick, Powell, Richards, Richardson, Szabo, Walker, Wilcox. (27)
ABSENT: None. (0)
Misc. 5297
By Mr. Horton
IN RE: HALFPENNY AND AUGUSTA DRAIN BONDS
The following resolution was offered by Mr. Horton
and seconded by Mr. Perinoff
WHEREAS, this Board of Supervisors has heretofore
pledged the full faith and credit Of the County of Oakland
to the payment of the following Oakland County Drain Bonds:
$1,590,000 Halfpenny Drainage District Drain
Bonds to be dated April 1, 1970,
and i
$14,250,000 Augusta Drainage District Drain
Bonds to be dated April 1, 1970; and
WHEREAS, the Drainage Beards for the Halfpenny
Drain and the Augusta Drain have adop ted amendments to the
bona resolutions authorizing the issuance of said bonds which
amendments provide that the said bonds shall be callable for
redemption prior to maturity on and after May 1, 1978; and
WHEREAS, such amendments. to the bond resoluions,
were adopted in order to permit. early refunding of said bonAs,.-
That this Board of Supervisors does hereby re-
affirm its pledge of the full faith and credit of the County
of Oakland to the payment of the following bonds, to wit:
and
Augusta Drainage District Drain
dated April 1, 1970.
$14,250,000
Bonds to be
and substantial savings to the public corporations assessed
if interest rates on municipal bonds should decline from the
existing levels.
NOW, THEREFORE BE IT RESOLVED BY THE BOARD OF
SUPERVISORS OF THE COUNTY OF OAKLAND, MICHIGAN:
$1,590,000 Halfpenny Drainage District Drain
Bonds to be dated April 1 ., 1970,
2. That all resolutions or parts df resolutions
insofar as they may be in conflict herewith be and the same
-
hereby are rescinded.
PUBLIC WORKS COMMITTEE
Harry W, Horton, Chairman
ADOPTED.
YEAS: Aaron, Bawden, Benson, Coy, Edwards, Gabler, Grba, Hamlin,
Horton, Houghten, Kasper, Mainland, Mathews, O'Brien, OlDonoghue,
PatnaleS, PerinOff, PerniCk, Powell, Richardson, Szabo, Wilcox. (22)
NAYS: None. (0)
ABSTAIN: Brennan. (1)
STATE OF MICHIGAN)
)SS:
COUNTY OF OAKLAND)
the undersigned, the duly qualified and acting
County Clerk and Clerk Of the Board of Superv sors of the
County of Oakland, do hereby certify that the foregoing is a
true and complete copy of a resolution adopted by a 2/3rds
vote of its members-elect at the meeting of the Board
Supervisors of the County of Oakland held on the —190 day
of February , 1970, the original of which is on file
in my office.
County Clerk