HomeMy WebLinkAboutResolutions - 1989.03.09 - 17021March 9, 1989
FISCAL REPORT (Misc. 89062)
BY: FINANCE COMMITTEE, DR. G. WILLIAM CADDELL, CHAIRPERSON
IN RE: SOLID WASTE FACILITY - CONTRACT AWARD
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
Pursuant to Rule XI-G of this Board, the Finance Committee has reviewed
the contract award for a solid waste to energy facility and finds:
I) All costs are based on the Oakland Avenue site.
2) Said contract is for $123,316,000 for construction of the facility.
3) Any changes or modification in facility design and/or construction
will result in corresponding cost changes to the proposed
$123,316,000 price.
4) Associated County and financing costs are anticipated to add
$29,464,998.
5) Capitalized interest during this project is anticipated to be
between $60,218,666 and $62,363,145.
6) Bond issuance cost is anticipated to be between $7,787,305 and
$7,826,005.
7) A debt services reserve of $19,984,500 is anticipated.
8) Total finance requirements with rounding are estimated to be between
$240,776,323 and $242,957,925 of which between $224,030,000 and
$225,965,000 is to be derived from bond proceeds and between
$16,746,323 and $16,992,925 is to be derived from interest earnings
during the construction of the project.
9) Annual gross debt service fees are anticipated to be between
$22,600,000 and $26,725,000 and average net service fees are
anticipated to be between $21,160,000 and $25,240,000.
10) Nature or type of bond issue has not been defined, however, it is
assumed to be a limited obligation issue of Oakland County.
11) The County has $1,719,461,428 in available bonding capacity as of
March, 1989.
12) The entire project is anticipated to be repaid out of user charges
in the form of tipping fees.
13) A separate resolution will be required to authorize the County to
proceed with bonding.
FINANCE COMMITTEE
March 9, 1989
Miscellaneous Resolution # 89062
BY: PLANNING AND BUILDING COMMITTEE-Anne M. Hobart. Chairperson
Electric
RE SOLID WASTE AWARD OF CONTRACT TO WESTINGHOUSE agOOX CORPORATION
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen;
WHEREAS the County received timely and responsive bids from three vendors
to build and operate a 1,500 ton per day Resource Recovery Facility; and
WHEREAS after full review by the County staff and consultants, it has
Electric
been determined that the proposal by Westinghouse mixxxy Corporation is the
lowest responsible bid.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of Commissioners
hereby accepts the bid of Westinghouse Energy Corporation for the Construction
and Service Agreements for the construction and operation of a 1,500 ton per
day Resource Recovery Facility and directs the Chairperson of the Oakland County
Board of Commissioners to execute such agreements.
Mr. Chairperson, on behalf of the Planning and Building Committee, I move
the adoption of the foregoing resolution.
PLANNING & BUILDING COMMITTEE
I HErj.BY J\PPROVE TH FOREGPINT RESOLUTION
, J
Da. T. Murphadnivil-3xecutik A7 iat!
(Name was amended by Board 3/9/89)
RESOLUTION # 89062 Mardi 9, 1989
,
Lyqx D. ALLEN, County Clerk
Rellister of Deeds
Moved by Hobart supported by Pappageorge the report be accepted.
A sufficient majority having voted therefor, the report was accepted.
Moved by Hobart supported by Pappageorge the resolution be adopted.
Moved by Hobart supported by Jensen the Fiscal Report•be amended by
changinge the name from Westin9ouse Energy -Corporation to Westinghouse Electric
Corporation.
A sufficient majority having voted therefor, the amendment carried.
Discussion followed.
Moved by Ferrens supported by Pernick the resolution be laid onthe table
until litigation between the City of Pontiac and Oakland County is resolved.
AYES: Price, Ferrens, Luxon. (3)
NAYS: Rewold, Skarritt, Wolf, Bishop, Caddell, Calandro, Chester, Crake,
Hobart, Jensen, Johnson, R. Kuhn, S. Kuhn, Law, McConnell, McCulloch, McPherson,
Moffitt, Oaks, Olsen, Pappageorge, Pernick. (22)
A sufficient majority not having voted therefor, the motion to table the
resolution failed.
Moved by Price supported by Ferrens the resolution be referred back to the
Finance Committee so they can embark in serious discussion with the City of
Pontiac.-
A sufficient majority not having voted therefor, the motion to refer back
to the Finance Committee failed.
Vote on resolution, as amended:
AYES: Rewold, Skarritt, Wolf, Bishop, Caddell, Calandro, Chester, Crake,
Hobart, Jensen, Johnson, R. Kuhr, S. Kuhn, Law, Luxon, McConnell, McCulloch,
McPherson, Moffitt, Oaks, Olsen, Pappageorge, Pernick. (23)
NAYS: Ferrens, Price. (2)
A sufficient majority having voted therefor, the resolution, as amended,
was adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lynn D. Allen, Clerk of the County of Oakland and having a seal, do
hereby certify that I have compared the annexed copy of the attached resolution,
adopted by the Oakland County Board of Commissioners at their regular meeting
held on , March _9 , 1989 with the original record thereof now remaining
on file in my office, and that it is a true and correct transcript therefrom,
and of the whole thereof.
In Testimony Whereof, I have hereunto set my hand and affixed the seal
of said County at Pontiac,Michigan this 9th day of March , 1989