HomeMy WebLinkAboutResolutions - 1990.03.21 - 16742(7 C
Hul*rt Price, Jr.
Couhty coqiissioner, Dis
J...Aes D. Ferrens
//County Commissioner, District #7
March 22, 1990
Miscellaneous Resolution # 90069
BY: Hubert Price, Jr., County Commissioner-District #8
James D. Ferrens, County Commissioner-District #7
RE: SILVERDOME CAPITAL IMPROVEMENT LOAN
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS, it is mutually beneficial to the economy of the County of Oakland
and to the City of Pontiac that the Pontiac Silverdome remain a major entertain-
ment center; and
WHEREAS, representatives of the Pontiac Silverdome Stadium Authority, the
City of Pontiac, and the Detroit Lions have met with County officials to discuss
the preservation and utilization of the Pontiac Silverdome; and
WHEREAS, the first priority has been determined to be the repaving of the
Silverdome Parking Lot, at a cost which is estimated to be $4 million; and
WHEREAS, by Miscellaneous Resolution #89276, adopted November 9, 1989, the
Board of Commissioners established a policy and procedure for the loan of County
funds for such purposes.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of Commissioners
does hereby approve a loan not to exceed $4 million to the Pontiac Stadium
Building Aurhority under the terms and conditions of Miscellaneous Resolution #89276,
subject to the approval by the Board of Commissioners of the specific terms and
conditions of such loan agreement.
Mr. Chairperson, I move the adoption of the foregoing resolution.
#90069
March 22, 1990
The Chairperson referred the resolution to the Finance Committee.
There were no objections.