HomeMy WebLinkAboutResolutions - 1970.01.08 - 16431At a Regular meeting of the Board of Supervisors
of Oakland County, held in the SuperviSors Auditorium in the City
of Pontiac, Michigan, on the 8th day of January, 1970, at 930
o'clock A.M., Eastern Standard Time.
PRESENT: Aaron,:Bawden, Benson, Brennan, Coy,. Edwards, Gabler, Grba, Hamlin,
HOrton, Houghten, Kasper, Mainland, Mastin, Mathews, O'Brien, O'Donoghue,
Olson, Patnales, Perinoff, Pernick, Powell, Richards, Richardson, Szabo,
Walker, Wilcox. (27)
ABSENT: None. (0)
Misc. Res. No ,7
Submitted by Mr. Horton and duly seconded.
Resolution Re: HURON-ROUGE SEWAGE DISPOSAL
SYSTEM,- WALLED LAKR ARM
WHEREAS, Bond Counsel has advised this Board that the
bond to be issued by the County to finance the Huron-Rouge
Sewage Disposal System Walled Lake Arm pursuant.to the Contract
between the County and the City of NoVi and the City of Walled
Lake cannot be sold at an interest rate of 6% or less; and
WHEREAS, the City of Novi and the City of Walled Lake
and the Board of Public Works of the County of Oakland have
approved and recommended that the maximum interest rate on the
bonds to be issued by the County to finance the Huron-Rouge
Sewage Disposal System - Walled Lake Arm be increased so that
such bonds can be issued at a rate of
8% per annum maximum rate provided by
interest not to exceed the
law.
THEREFORE, BE IT RESOLVED by the Board of Supervisors
of Oakland County, Michigan, as follows:
l. That the Bond resolution authorizing the issuance
of $8,500,000 Oakland County Sewage Disposal Bonds (Huron-Rouge
System-Walled Lake Arm) be amended to provide that such bonds be
issued at a rate of interest not to exceed the 8% per annum
maximum interest rate provided by law
2. That the Notice of Sale for $8,500,000 Oakland
County Sewage Disposal Bonds (Huron-ROuge System-Walled Lake Arm)
heretofore adopted by the Board of Public Works be amended to
provide that said bonds shall -be issued at a rate -of interest
, /HOry V./Hbrtpo-
District #6 Supervisor
not to exceed the 8% per annum maximum interest rate provided
by law but in no event to exceed such laverage net annual interest
cost as such Board of Public Works may determine.
3. That the Oakland County JBoard of Public Works shall
advise the Municipal Finance Commission of the State of Michigan
of such amendment to increase the interest rate limitation and
obtain an order of approval or revised order of approval of such
increased interest rate on the above described bonds.
4. That all resolutions and parts of resolution in
conflict herewith be and are /hereby repealed and rescinded.
Moved by Horton supported by the rules be suspended • 7--""--"="--- for immediate consideration of the resolution.
A sufficient majority having voted therefor, the motion carried.
Moved by Horton supported by the resolution be adopted.
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not.,to.exceed_the ..8%,per annum maximum: interest rate provided_
by law but in no event to exceed such average net annual interest
cost as such Board of Public Works may determine.
3. That the Oakland County Board of Public Works shall
advise the Municipal Finance Commission of the State of Michigan
of such amendment to increase the interest rate limitation and
obtain an order of approval pr revised order of approval of such
increased interest rate on the above described bonds.
4. That all resolutions and parts of resolution in
conflict herewith be and are hereby repealed and rescinded.
Harry W. Horton
District #6 Supervisor
Moved by Horton supported by - I the rules be suspended
for immediate consideration of the resolution.
A sufficient majority having voted therefor, the motion carried.
(- /
Moved by Horton supported by the resolution be adopted.
Yeas: Aaron, Bawden, Benson, Coy, Edwards, Gabler, Grba,
Hamlin, Horton, Houghton, Kasper, Mainland, Mastin,
Mathews, O'Brien, O'Donoghu'e, Patnales, Perinoff, Pernick,
Powell, Richards, Richardson; Szabo Walker, Wilcox (25)
Nays; Brennan, Olson y-2 ,
meeting of the Oakland County Board of at Regular
STATE OF MICHIGAN )
ss:
COUNTY OF OAKLAND )
' I, the undersigned, the duly qual i fied and acting
County Clerk of the County of Oakland do hereby certify that the
foregoing is a true and complete copy of a resolution adopted
Supervisors, held on the 8th day of January, 1970, the original of
which is on file in my office.
IN WITNESS -WHEREOF, I have hereunto affixed my
8th January official signature this day. of , A.D.
1970
Oakland County Clerk