HomeMy WebLinkAboutResolutions - 1990.05.24 - 16791Mr. Chairperson, I move the
resolution.
adoption of the foregoing
COw
V.; OLSEN
SSI4ER DISTR
May 24, 1990
MSC, RES. 90121
BY: Commissioner John E. Olsen
RE: Solid Waste Program Funding, Revenue Bonds
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
MR. CHAIRPERSON, LADIES AND GENTLEMEN;
WHEREAS, Oakland County's dynamic efforts to institute a
multi-faceted solid waste program have produced a progressive,
broad-based approach to solving the solid waste disposal needs of
our citizens, and
WHEREAS, the magnitude of the Oakland County's Solid. Waste
Program will require that the program be funded through the sale of
bonds, and
WHEREAS, the program is designed as a county-wide waste
disposal system available to all communities, and
WHEREAS, the extent to which the system is used will vary by
community, and the repayment of the bond liability will be
correlated to the system's use by each community, and
WHEREAS, repayment of the system's cost is dependent on user
generated revenue and should be financed through the sale of
Revenue Bonds.
NOW THEREFORE BE IT RESOLVED that upon approval by the
required number of local units of both the Updated Act 641 Solid
Waste Plan and the Intergovernmental Agreements, the Oakland County
Board of Commissioners does hereby approve the sale of Revenue
Bonds for the financing of the Oakland. County Solid Waste System in
an amount not to exceed $500 Million.
#90121
May 24, 1990
The Chairperson referred the resolution to the Planning and Building
Committee and the Finance Committee. There were no objections.