HomeMy WebLinkAboutResolutions - 1988.09.08 - 17649September 8, 1988 Miscellaneous Resolution # 88233
BY: GENERAL GOVERNMENT COMMITTEE-
Richard G. Skarritt, Chairperson
RE: HOUSE BILL 5788-SUPPORT EXEMPTING COUNTY REVOLVING FUND
NOTES FROM ALL MICHIGAN TAXATION
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS revolving fund notes issued by counties were, for the. first
time this year, sold as taxable notes, subject to both federal (due to federal
tax reform) and state tax; and
WHEREAS House Bill 5788 would make these notes tax exempt in the State
of Michigan which should result in a reduction of the rate of approximately 1/5
of one percent and make them more saleable in Michigan; and
WHEREAS Oakland County Treasurer C. Hugh Dohany has reviewed House
Bill 5788 and supports this legislation.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of
Commissioners takes a position supporting House Bill 5788.
BE IT FURTHER RESOLVED that copies of this resolution be sent to
legislators from Oakland County and to the County's Legislative Agent.
Mr. Chairperson, on behalf of the General Government Committee, I move
the adoption of the foregoing resolution.
GENERAL GOVERNMENT COMMITTEE
8th this
Miscellaneous Resolution # 88233 - - September 8, 1988
Moved by Skarritt supported by Jensen the resolution be adopted.
AYES: Skarritt, Wilcox, Aaron, Bishop, Crake, Doyon, Gosling, Hobart,
Jensen, R. Kuhn, S. Kuhn, Lanni, McConnell, McDonald, A McPherson, R. McPherson,
Moffitt, Oaks, Page, Pernick, Price, Rewold, Rowland. (23)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
1, 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
Miscellaneous Resolution .adopted by the Oakland CountyBoard of Commissioners at
their regular meeting held on September 8, 1988
with the original record thereof new remaining 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
day of September
LYNNit, ALLEN, County Clerk/Register of
1988