HomeMy WebLinkAboutResolutions - 1970.07.02 - 164415431 RESOLUTION NO.
BY: Mr. Horton
IN RE: WILMONT RELIEF DRAINS
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
MR. CHAIRMAN, LADIES AND GENTLEMEN:
WHEREAS, proceedings have been taken by the Statutory
Drainage Board for the construction of the Wilmont Relief Drains
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 Waterford and the County of Oakland on August 28, 1968; and
WHEREAS, the said Drainage Board by resolution adopted
on June 15, 1970, authorized and provided for the issuance of
bonds in the aggregate principal amount of $1,835,000 in antici-
pation of the collection of an equal amount of special assessments
against the Township of Waterford and the County of Oakland as
their respective shares of the cost of said relief drains, said
special assessments having been therefore duly confirmed by said
Drainage Board; and
WHEREAS, said bonds are to be designated Drain Bonds,
are to be dated April 1, 1970, will bear 'interest at a rate not
exceeding 8%, 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 of
any installment and interest, .4hen the county
treasurer shall advance the amOunt thereof from
county funds in the following cases:
"(1) If any bonds or other evidence of indebted-
ness have been issued to finanOe a project, the peti-
tion for which was filed after June 6, 1961 in anti-
cipation of the collection of the installment and in-
terest pursuant 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 of indebtedness, or
"(2) If any bonds or other evidence of indebt-
edness 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
necessary 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
necessary 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 RESOLVED BY THE OAKLAND COUNTY
BOARD OF COMMISSIONERS:
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 pledge the
full faith and credit of the County of Oakland for the prompt payment
1 of the principal of and interest on the Said Drain Bonds, and does
agree that in the event the Township of Waterford 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
-2--
installment and interest, for the Wilmont Relief Drains, 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 purse 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 p rovisions of this resolu-
tion be and the same hereby are rescinded.
MR. CHAIRMAN, on behalf of the public Works Committee,
I move the adoption of the foregoing resolution.
Harry ./1-or ton Tm a n
Thomas H. O'Donoghue
Th ,"
Ge-oe N. S.:ir ba
William I
PUBLIC WORKS COMMITTEE
James M. Brennan
•
A_ /2 17
Mahlon Benson, Jr.
Moved by Horton supported by Richardson the resolution
be adopted.
ADOPTED.
AYES:
Houghton, Mainland, Mastin, Mathews, O'Brien, O'Donoghue, Olson,
Patnales, Perinoff, Pernick, Powell, Richardson, Szabo, Walker,
Wilcox, Aaron, Bawden, Benson, Coy, Edwards, Gabler, Grba, Hamlin,
Horton. (24)
NAYS:
Brennan. (1)
ABSENT:
Kasper, Richards. (2)
William M„ Richarrls
faAk ,1Yc4ardson
Mahlon Benson, Jr.
RESOLUTION NO
RE: WILMONT RELIEF DRAINS
That the attached Resolution is approved by this
Committee and transmitted to the Board of Commissioners with the
recommendation that same be adopted.
PUBLIC WORKS COMMITTEE
James M. Brennan
official signature this _ 2nd day of , A.D. 1970. July
-tIrTlen,./County Clerk
/
STATE OF MICHIGAN )
) Qs:
`COUNTY OF OAKLAND )
1, the undersigned, the duly qualified 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
at a Regi41ar meeting of the Oakland County Board of Comj
, 1970, the
IN WITNESS WHEREOF, I have hehreunto affixed my
missioners, held on the , 2nd day of July —
original, of which is on file in my office