HomeMy WebLinkAboutResolutions - 1987.02.19 - 17770February 19, 1987
MISCELLANEOUS RESOLUTION 4 87016
BY: FINANCE COMMITTEE
BUILDING AUTHORITY -
AUTHORIZATION TO APPROVE PLANS, COST ESTIMATE,
ESTIMATE OF THE PERIOD OF USEFULNESS, LEASE CONTRACT
AND NOTICE OF INTENTION WITH RESPECT THERETO
TO: THE OAKLAND COUNTY BOARD OF connIssIoNERs
MR. CHAIRMAN, LADIES AND GENTLEMEN:
WHEREAS, the Board of Commissioners ("the Board")
of the County of Oakland, Michigan ("the County"), has hereto-
fore approved plans for the site improvement, construction,
and installation -of equipment for a new county jail facility
for Oakland County ("the Project"), and has contracted for
the construction of the Project all as more fully described
in EXHIBIT A to the Lease Contract (as hereinafter defined),
and County and. the Oakland County Building Authority ("the
Authority") dated as of December 1, 1986 attached hereto as
APPENDIX I ("the . Lease Contract"), pursuant to which the
Authority will acquire the Project as contemplated by the
terms of Act . No 31, Public Acts of Michigan, 1948 (First Extra
Session), as amended ("Act 31"), and lease the same to the
County for a•period not to exceed 50 years as permitted by
Act 31; and .
WHEREAS, it has been estimated that the period of
usefulness of the Project is not less than 25 years and
that the total cost of designing, constructing and installing
the Project and issuing the Bonds (as defined in the Lease
Contract) will be approximately $16,625,000 to be provided
by the proceeds from the sale of the Bonds by the Authority
pursuant to Act 31; and
WHEREAS, the County has prepared forecasts of its
revenues and :expenses which demonstrate the ability of the
County to pay thedebt service on the Bonds required by the
RE:
Rewold,
Lease Contract, and the County has available the funds required
to pay any Project costs not covered by the anticipated
proceeds from the. tale of the Bonds; and
WHEREAS, there has been prepared and attached hereto
as APPENDIX II .a form of notice entitled "NOTICE OF INTENTION
OF THE COUNTY OF OAKLANDTO ENTER INTO A LEASE CONTRACT WITH
THE OAKLAND COUNTY BUILDING AUTHORITY AND NOTICE OF RIGHT TO
PETITION FOR REFERENDUM THEREON" ("the Notice of Intention");
NOW, THEREFORE, be it resolved by the Board of
Commissioners ofethe County of Oakland, Michigan as follows:
1. The .plans and construction contracts 'relating to
the Project and identified in EXHIBIT A to APPENDIX I hereto
are hereby approved and ordered filed with the County Clerk,
2. The •Lease Contract in the form attached hereto as
APPENDIX I is hereby approved, and the Chairman of the Board of
Commissioners and theCounty Clerk are hereby authorized and
directed to execute and deliver the same for and on behalf of
the County,
. 3. It is hereby .determined that the Notice of
Intention provides information sufficient to adequately inform
the electors and taxpayers of the County of the nature of the
contractual obligations to be undertaken by the County in the
Lease Contract and of their right under Act 31 to file a
petition requesting a referendum election on the Lease Contract.
4, The form and content of the Notice of Intention
are hereby approved, and the County Clerk is hereby authorized
and directed to cause the Notice of Intention to be published
once in The Daily Tribune and once, and on the same day, in the
Oakland Press, newspapers of general circulation within the
County and either. of.-which might reasonably be determined to be
the newspaper reaching the largest number of electors and
taxpayers of the county.
A ROLL CALL VOTE WAS TAKEN AS FOLLOWS:
YEAS: Skarritt, Wilcox, Aaron, Caddell, Calandra Crake‘ Doyon,
Jensen, R. Kuhn, S. Kuhn, Lanni, Luxon, McConnell, McDonald, A. McPherson,
R. McPherson, Moffitt, Nelson, Page, Perin°
NAYS: None. (0)
()hart,
and. (26)
ABSTAINING: None. (0)
THE RESOLUTION WAS DECLARED ADOPTED.
-2-
FINANCE COMMITTEE
rt,
COUNTY'OF OAKLAND, MICHIGAN
NOTICE OF INTENTION OF THE COUNTY OF OAKLAND
TO ENTER INTO A LEASE CONTRACT WITH THE
OAKLAND COUNTY BUILDING AUTHORITY AND NOTICE
OF RIGHT TO PETITION FOR REFERENDUM THEREON
TO ALL ELECTORS AND TAXPAYERS OF
THE COUNTY OF OAKLAND:
NOTICE IS HEREBY GIVEN that the Board of Commissioners
of the County of Oakland, Michigan ("the County"), has
authorized the execution of a full faith and credit general
obligation lease contract ("the Lease") between the County and
the Oakland County Building Authority ("the Authority"). The
Lease provides, among other things, for the site improvement,
construction, erection and installation of equipment and
operation by the.Authority of a new county jail facility ("the
Project") to be located in the County. The Lease provides
further that the Authority will finance the cost of the Project
by the issuance of building authority bonds ("the Bonds")
Pursuant to'the .provisdons of Act No, 31, Public Acts of
Michigan, 1948 (First Extra Session), as amended ("Act 31"), in
anticipation of the receipt of cash rental payments to he made
by the County to the Authority pursuant to the Lease. The
maximum amount Of Bonds to be issued is $16,625,000, the term
of the Lease does not exceed 25 years and the Bonds stall bear
interest at up to the maximum interest rate permitted by law.
FULL FAITH AND CREDIT AND TAXING POWER OF
THE COUNTY OF OAKLAND WILL BE PLEDGED
NOTICE IS FURTHER GIVEN that in the Lease the County
obligates itself to make cash rental payments to the Authority
in amounts sufficient to pay the principal of and interest on
the Bonds. The full faith and credit of the County will be
p_ledc_i_er_j___Ia_l_g__c.inofsichcash_______ rental payments. Pursuant
to such pledge of its full faith and credit, the County will be
obligated to levy. such ad valorem taxes upon all taxable
property in the County as shall be necessary to make such cash
rental payments, which taxes, however, will be subject to
applicable statutory and constitutional limitations on the
taxing power of the County. In addition to its obligation to
make cash rental payments, the County agrees in the Lease to
pay all costs and expenses of operation and maintenance of the
Project and all expenses of the Authority incidental to the
issuance and payment of the Bonds, to the extent such expenses
are not payable from the proceeds of the Bonds
APPENDIX II
Dated:
RIGHT TO PETITION FOR REFERENDUM
NOTICE IS FURTHER GIVEN that this notice is given to
and for the benefit of the electors and taxpayers of the County
in order to inform them of County's execution of the Lease and
also to inform them of their right to petition for a referendum
on the question of entering into the Lease. The County has
entered into the Lease without a vote of the electors thereon,
but the Lease shall not become effective until 45 days after
publication of this notice. If, within such 45-day period, a
petition for referendum requesting an election on the Lease,
signed by not less than 10% or 15,000 of the registered
electors of the County, whichever is less, has been filed with
the County Clerk, the Lease shall not become effective unless
and until approved by a majority of the electors of the County
voting thereon at a general or special election.
This notice is given by order of the Board of
Commissioners pursuant to Act 31. Further information may be
obtained at the office of the OaAand County Clerk,_ 1200 North
Telegraph, Pontiac, Michigan.," )
z4Ite,d, ,
Lyn r Al
Oakl. d County Clerk
, 198
PRELIMINARY DRAFT
November 25, -1986
Revised 11/26/86
LEASE CONTRACT
BETWEEN
• OAKLAND COUNTY
AND
OAKLAND COUNTY BUILDINGAUTBORITY
TABLE OF CONTENTS
Section 1. Authorization and Issuance of Bonds, 2
Section 2. Transfer of Title to and Completion
of Project. 3
Section 3. Increased Project Costs. 3
Section 4, Funds' Remaining After Completion. 3
Section 5. Insurance Reuuirements During Construction, 4
Section 6. Lease Term; Possession; Reconveyance. 4
Section 7. Cash. Rental; Pledge of Full Faith and Credit. 4
Section 8. Expenses of Issuing and Payment of Bonds. 5
Section 9. Construction Expenses of the County. 5
Section 10. Maintenance and Repairs. 5
Section 11. Property Insurance and Insurance Proceeds. 6
Section 12. Liabilityjnsurance 6
Section 13. NoUnlaWful Use Permitted. 6
Section 14. Alterations of Project. 7
Section 15, Right -of Inspection. 7
Section 16. Contractual Rights of Bondholders. 7
Section 17. Appurtenant Facilities. 7
Section 18. Successors and Assigns. 7
Section 19.. Abandonment of Project, 8
Section 20. Consents, Notices, Etc. 8
Section 21. Changes in Law or Corporate Status, 8
Section 22. Effective Date of Lease. . 8
LEASE CONTRACT .
THIS FULL FAITH AND CREDIT GENERAL OBLIGATION LEASE
CONTRACT ("Lease") made as of December 1, 19B6, by and between
the OAKLAND COUNTy:BUILDING AUTHORITY ("the Authority"), a
building authority organized and existing under and pursuant to
the provisions of Act No, 31, Public Acts of Michigan, 1948
(First Extra Session), as amended ("Act 31"), and the COUNTY OF
OAKLAND, a Countypf:the State of Michigan ("the County),
WITNESSET H:
WHEREAS,' the Authority has been. incorporated by the
County pursuant to Act 31 for the purpose of acquiring,
furnishing, equipping, owning, improving, enlarging, operating
and maintaining a building or buildings, automobile parking
lots or structure's, recreational facilities and stadiums, and
the necessary site of sites therefor, for the use of the
County; and
WHEREAS the County desires to construct a new jail
and related offices., .appurtenant facilities and equipment ("the
Project"), as more fully identified in EXHIBIT A to this Lease,
and it is proposed that the Authority undertake the Project; and
WHEREAS; it is proposed that the Authority finance the
cost of the Project by the issuance of building authority bonds
payable from cash rental payments to be made by the County to
the Authority pursuant to this Lease and Act 31; and
WHEREAS, a description of the Project, an estimate of
25 years and upwards as the period of usefulness thereof and an
estimate of $16,6200 as the total cost of the Project, have
been reviewed and approved by the Board of Commissioners of the
County; and
WHEREAS, the County has prepared forecasts of its
revenues and expenses which demonstrate the ability of the'
County to pay theHdebt service on the Bonds (as defined in
Section 1 of this Lease) through the periodic payment from
County's general funds of the cash rental required by this
Lease Contract; and.
•
WHEREAS 4 -in order to make possible the issuance of
building authority.bonds to finance a portion of the total cost
of the Project, it'is necessary under Act 31 for the parties to
enter into this Lease;
Thereforei. in consideration of the mutual undertakings
and agreements set fOrth below, IT IS HEREBY AGREED BY AND
BETWEEN THE PARTIESTO THIS LEASE AS FOLLOWS:
1. Authorization and Issuance of Bonds. As soon as
practicable after the effective date of this Lease, the
Authority shall proCeed to authorize and issue its building
bonds in the aggregate principal amount of not to exceed
$16,625,000 ("the e Bonds"), pursuant to and in accordance with
the provisions OfAct 31, for the purpose of defraying the cost
of the Projecte:.The Authority shall pledge for the payment of
the principal of aid interest on the Bonds the receipts from
the cash rental.payments described and required to be paid by
the County pursuant to this Lease. The Bonds shall be dated
March 1, 1987, shall bear interest at a rate or rates not
exceeding 12% per annum payable on September 1, 1987 and each
March 1 and September I thereafter to maturity and shall mature
(either by maturitY or mandatory redemption) in accordance with
the Debt Retirement Schedule set forth On EXHIBIT B to this
Lease. The CountY and the Authority recognize and acknowledge
that such Debt Retirement Schedule assumes the estimated
interest rate set forth therein and that the amount of each
payment of interest on the Bonds and the amount of each payment
of cash rental required under this Lease will be determined by
application of the rate or rates of interest (not exceeding 12%
per annum) actually borne by the Bonds, The Bonds may be sold
subject to redemption prior to maturity at the option of the
County, with such redemption premiums and upon such other terms
and conditions a shall be set forth in the resolution to be
adopted by the Authority to authorize issuance of these Bonds
("the Bond Resolution"),
Upon receipt of the proceeds of the sale of the Bonds,
all premium, capitalized interest, if any, and accrued interest
received from the purchaser or purchasers of the Bonds shall be
transferred to a bond and interest redemption fund, and the
balance of such proceeds shall be deposited into a construction
fund, each of which: shall be established by the Bond Resolution
and maintained as a separate depository account of the
Authority. The Construction fund shall be used to pay costs of
the Project.
In the event that for any reason after the date upon
which this Lease is executed, but before the Bonds have been
issued, it appears to the County and the Authority that the
Project may be constructed and installed for less than
$16,625,000, or .the County shall be able to make payment in
advance on the cash rental payments payable pursuant to this
Lease, the Authority, after approval of the County by
resolution of its Board of Commissioners, may reduce the amount
of Bonds to be issued in multiples of $1,000 and reduce the
annual maturities or the years of maturities as the County
shall direct.
2. Transfer of Title to and Completion of Proleot.
As soon as practicable after the Bonds have been sold, the
County shall transfer title to the Project to the Authority and . assign to the Authority the construction and other contracts
relating thereto; and the Authority shall pursue the Project.
The plans, cost estimate and estimated period of usefulness for
the Project and construction contracts relating thereto, all of
which have been filed with the County Clerk and the Secretary
of the Authority•:are hereby approved and adopted. The Project
shall be implemented substantially in accordance with such
plans and contracts which are identified on EXHIBIT A and
incorporated as part of (but not attached to) this Lease. No
major changes inSuch plans shall be made without the written
approval of both the_County and the Authority.
3. Increased Project Costs. In the event that it
shall appear, after issuance of the Bonds, that the Project
cannot be completed at the estimated cost, the Authority shall
immediately so notify the County. The County may elect to pay
the increased cost in dashto the Authority in which event the
amount of such cashpayment shall be deposited in the
construction fundfOr the Project and the Authority shall
proceed to construct and complete the Project. In the
alternative, theCounty and the Authority may agree, by an
amendment to this Lease, that additional Bonds shall be issued
by the Authority ,in - an amount sufficient to pay the increased
Project costs. If, after the sale and issuance of the Bonds,
it shall become necessaryto raise additional funds to pay for
an increase in the'Project costs and this Lease cannot be
amended to provide for the issuance of additional Bonds, or if
for any other reaon additional Bonds cannot be issued, the
County shall paytothe Authority in cash an amount sufficient
to enable the Autharity .to complete the Project in accordance
with the plans and -contracts for the Project.
4. Funds - Remaining After Completion. Any unexpended
balance of the proceeds of the sale of the Bonds remaining
after completion of the project may be used to improve or
enlarge the Project or far otherprojects of the Authority
leased to the county if such use is approved by the County and,
if necessary, by the Municipal Finance Division of the
Department of Treasury. Any unexpended balance not so used
shall be paid into the bond and interest redemption fund, and
the County shall receive a credit against the cash rental
payments next due ,under this Lease to the extentof the moneys
so deposited in the manner provided in the Bond Resolution,
3
5, InsUranCe Requirements During Construction, The
Authority shall require the contractor or contractors for the
Project to furnish.a.ppropriate surety bonds guaranteeing
performance and labor material bonds and all owner's
protective, workers compensation and liability insurance
reasonably required for the protection of the Authority and the
County. Such bonds and insurance, and the amounts thereof,
shall be maintained in the same amount and upon the same terms
and conditions as provided for in the contracts relating to the
construction of the Project and as in effect on the effective
date of this Lease. The Authority also shall secure a
sufficient fidelity bond for any person handling funds of the
Authority.
6. Lease Term; Possession; Reconveyance, (a) The
Authority does'hereby lease the Project to the County for a
term commencing on the effective date of this Lease and ending
on December 31, 2012, or such earlier date as provided below.
Possession of the.Project shall vest in the County upon the
execution of the Lease. When all of the Bonds issued by the
Authority to finance the Project have been retired, the
Authority shall convey to the County all of its right, title
and interest in the Project and any lands, easements or
rights-of-way appettaining thereto. Upon such conveyance by
the Authority to the County, this Lease and the leasehold term
shall terminate, and the Authority shall have no further
interest in, or obligations with respect to, the Project,
(b) The County shall, as of the effective date
of this Lease and:Upon the terms and conditions set forth in
this Lease, convey to the Authority all lands, buildings,
tenements, hereditaments, easements an rights-of-way necessary
to enable the Authority to complete the Project in accordance
with the plans and .construction contracts,
7. CashRental; Pledge of Full Faith and Credit, The
County hereby agrees to pay to the Authority as cash rental for
the Project sucheperiodic amounts as shall be sufficient to
enable the Authority to pay the principal of and interest on
the Bonds as suCh.principal and interest shall become due,
whether at maturity or by optional or mandatory redemption, On
August 15, 1989, and on each February 15 and August 15
thereafter while any of the Bonds remain outstanding, the
County shall pay to the Authority an amount sufficient to pay
the interest due on .the Bonds on the first day of the following
month. In addition to such payments in respect of interest on
the Bonds, on February 15, 1983, and on each February 15
thereafter while -any of the Bonds are outstanding, the County
shall pay the Authority an amount sufficient to pay the
principal due on the Bonds on the first day of the following
month. . .
4
The Countyl-hereby pledges its full faith and credit
for the paymentof the cash rental when due and agrees that it
will levy each year such ad valorem taxes as shall be necessary
for the payment Of sUch cash rental, which taxes, however, will
be subject to appliCable constitutional limitations on the
taxing power of the :County, and which shall not be in an amount
or at a rate exceeding that necessary to pay its contractual
obligation pursuant to:this Lease. If the County, at the time
prescribed by law for the making of its annual tax levy, shall
have other funds on hand which have been, set aside and
earmarked for payment' of its obligations for which a tax levy
would otherwise have to be made; then the tax levy shall be
reduced by the aMOUnt of such other funds. The obligation of
the County to make' such cash rental payments shall not be
subject to any seteff by the County nor -shall there be any
abatement of the''cash rental payments for any cause, including,
but not limited to,-;casualty that results in the Project being
untentable.
8. Expenses of Issuing and Payment of Bonds, The
Authority shall pay from the proceeds of the sale of the Bonds
all expenses incurred: with respect to the issuance of the
Bonds. In addition'.to the cash rental provided for in Section
7, the County agrees to pay to the Authority all expenses
incurred with respeCtto 'the issuance and payment of the Bonds,
to the extent not .1so paid from the proceeds from the sale of
the Bonds. The obligation of the County to make such payments
shall be a genera, of the County.
9. Construction Expenses of the County. Upon the
sale of the Bonds ; the County shall give the Authority a full
and complete accounting of the construction costs and expenses
incurred to that date by the County in connection with the
Project, and the Authority shall thereupon reimburse the County
for such costs andexpenses.
10. Maintenance and Repairs. The County shall, at
its own expense, operate an maintain the Project and shall keep
the same in good Condition and repair. Operation and
maintenance shall include (but not be limited to) the providing
of all personnel,: equipment and facilities, all light, power,
heat, water, sewerage, drainage andother utilities, and all
properties and services Of whatever nature, as shall be
necessary to expedient in the efficient and lawful operation
and maintenance of the Project. Premiums for insurance
required to be carried upon or with respect to the Project or
the use thereof and taxes levied upon either party hereto on
account of the ownership or use of the Project, or on account
of rentals or income from the Project, shall likewise be deemed
operation and maintenance expenses. The obligation of the
County to pay all costs and expenses of the operation and
maintenance of the Project shall be a general obligation of the
County.
5
11. Property Insurance and Insurance Proceeds, The
County shall provide, at its own expense, fire and extended
coverage insurance An an amount which is at least equal to the
amount of Bonds outstanding from time to time or to the amount
of the full replacement cost of the Project if that amount be
less than the amount of Bonds outstanding Such insurance
shall be payable to the County and the AUthority as their
interests may appear and shall be made effective from the date
of commencing construction of the Project. In the event of the
partial or total .destruction of the Project during or after
construction, orHif .the Project is for any reason made
unusable, the cash rental payments provided in Section 7 shall
continue unabated, flIe County shall have the option to use the
proceeds of insurance, in the event of loss or damage to the
Project, for the repair or restoration of the Project. If the
County shall determine not to use the proceeds of insurance for
the repair or restoration of the Project, the amount of such
insurance proceedsshall be paid to the Authority and by it
deposited in the bond and interest redemption fund, and the
County shall receive appropriate credits on future cash rental
payments due underthis Lease.
12, Liability Insurance, The County shall provide
adequate liability insurance protecting the County and the
Authority against doss on account of damage or injury to
persons or property, imposed by reason of the ownership,
possession, use:,.-operation, maintenance or repair of the
Project and the site of the Project, or resulting from any acts
of omission orc-Ommission on the Tart of the County or the
Authority or their 'respective officers, employees or agents in
connection with the Project, Such insurance shall be made
effective from the date construction of the Project commences.
13. No'Unlawful Use Permitted, The Project shall not
be used or permitted to be used in any unlawful manner or in
any manner which 'would violate the provisions of any contract
or agreement between the County or the Authority and any third
party. The County shall hold the Authority harmless and keep
it fully idemnified at all times against any loss, injury or
liability to any persons or property by reason of the use,
misuse or non-use Of the Project or from any act or omission
in, on or about the Project. The County shall, at its own
expense, make any -:dhanges or alterations in, on or about the
Project which may_be required by any applicable statute,
charter, ordinance or governmental regulation or order and
shall save the AlithOrity harmless and free from all costs or
damages with resiDect thereto.
6
14. Alterations of Project, The County, in its sole
discretion, may .install or construct in or upon, or may remove
from, the Project any equipment, fixtures or structures, and
may make any alterations to or structural changes in, the
Project, as the COUnty may desire.
15. Right of inspection, The Authority, through its
officers, employees or agents, may enter upon the Project at
any reasonable timeeduring the term of this Lease for the
purpose of inspecting the Project and determining whether the
County is complying with the covenants, agreements, terms and
conditions of this Lease..
16. Contractual Rights of Bondholders. Inasmuch as
this Lease, and particularlythe obligation of the county to
make cash rental payments to the Authority; provides the
security for payment of the.principal of and interest on the
Bonds to be issued'by the Authority to finance the Project, it
is hereby declaredethat this Lease is made for the benefit of
the holders of the ,Bends as well as for the benefit of the
parties and that such holders shall have contractual rights
under this Lease, . In the event of any default under this Lease
on the part.of theeCounty, the Authority and the holders of the
Bonds shall have-all rights and remedies provided by law,
including in particular any provided by Act 31. The parties
further covenant -and .agree that they will not do, or permit to
be done, any act, and that this Lease will not be amended in
any manner, which Would impair the security of the Bonds or the
rights of the holders of the Bonds. An amendment of this Lease
to authorize the-issuance of additional Bonds and providing the
payment of additional cash rentals for the payment of such
Bonds shall not ebe deemed to impair the security of the Bonds
or the rights of-the holders.
17. Appurtenant Facilities. The site on which this
Project is to be J.ocated includes, or will include, roadways,
walks, drives, parking areas and landscaping which are of
benefit to and necessary to the full use and enjoyment of the
Project, and it is hereby covenanted and agreed that so long as
any of the Bonds remain outstanding and unpaid, such
appurtenant facilities will be maintained in good repair and
condition by the County and available to the users and
occupants of the Project.
18, Sucoessors and Assigns. This Lease shall inure
to the benefit of, -and be binding upon, the respective parties
hereto and their successors and assigns, provided, however,
that no assignment shall be made in violation of the terms of
this Lease nor shall any assignment be made which would impair
the security of the Bonds or the rights of the holders of the
Bonds.
7
19, Abandonment of Project. In the event the Bonds
to finance the Project cannot be or are not issued by the
Authority before January 1, 1988, the Project shall be
abandoned, the County shall pay all expenses of the Authority
incurred to the date of abandonment and neither party shall
have any further obligations under this Lease,
20. Contents, Notices, Etc, The right to give any
consent, agreement .or notice required or permitted in this
Lease shall be vested., in the case of the County, in its Board
of Commissioners, and in the case of the Authority, in its
Commission, Any_notioe reauired or permitted to be given under
this Lease shall be given by delivering the same, in the case
of the County, to the County Clerk, and in the case of the
Authority, to any member of its Commission,
21. Changes in Law or Corporate Status, In the event
there shall occur changes in the constitution or statutes of
the State of Michdgan which . shall affect the organization,
territory, powers t).'.corporate status of the County, the terms
and provisions of this Lease shall be unaffected thereby
insofar as the obligation of the County to make the cash rental
payments is concerned. The proceeds of any sale or other
liquidation of any interest of the County in the project are
hereby impressed With a first and prior lien for payment of any
outstanding Bonds or other obligations of the Authority
incurred by reaton of .the Project or any additions or
improvements thereto,
22, Effeetive Date Of Lease. This Lease shall become
effective on the'46th day after publication of a Notice of
Intention in The Oakland Press and The Daily Tribune as
provided in Act ,3I.,.provided that if a petition for a
referendum is filed as provided in Section 8b of Act 31, then
this Lease shall not become effective unless and until approved
by a majority of the electors of the County voting thereon at a
general or special election.
8
By
WITNESS TO SIGNATURES OF COUNTY OF OAKLAND
COUNTY OFFICERS:-
By
Roy Rewc
Boaz
By
en, County Clerk
d, Chairman,
Commissioners
IN WITNESS WHEREOF, the OAKLAND COUNTY BUILDING
AUTHORITY, by its Commission, and the COUNTY OF OAKLAND, by its
Board of Commissioners, have caused this Lease Contract to be
signed by their duly authorized officers, and their seals to be
affixed hereto, all as of the day and year first above written.
WITNESS TO SIGNATURES OF OAKLAND COUNTY. BUILDING AUTHORITY
AUTHORITY OFFICERS:
By _
Chairman of its Commission
9
STATE OF MICHIGAN) ,
y ss
COUNTY OF OAKLAND)
On this, .day of , 1986,
before me appeared
and , to me personally known,
who being by me duly sworn, did each say that they are
respectively the Chairman and the Secretary of the Commission
of the OAKLAND COUNTY BUILDING AUTHORITY and that the foregoing
Lease Contract waS signed and sealed by them on behalf of the
Authority by authority of its Commission, and that such persons
acknowledged such:instrument to be the free act and deed of the
Authority.
Notary Public, Oakland County,
Michigan
My Commission Expires:
(Seal)
1 0
STATE OF MICHIGAN_
):SS
COUNTY OF OAKLAND):
On this day of , 1987,
before me appearedAROY REWOLD and LYNN D. ALLEN, to me
personally known, who being by me duly sworn, did each say that
they are respectively the Chairman of the Board of
Commissioners and County - Clerk of the COUNTY OF OAKLAND and
that the foregoing. Lease Contract was signed and sealed by them
on behalf of the COtnty by authority of its Board of
Commissioners, ancl.that such persons acknowledged such
instrument to be the free act and deed of the County.
Notary Public, Oakland County,
Michigan
My Commission Expires:
(Seal)
11
OAKLAND COUNTY JAIL
DESCRIPTION OF PROJECT:
Oakland County ail Renovation and Addition. The plans
prepared for theAproject by NGA/NDR, dated Scpterp.ber 15,
1986, consists of 107 pages. The site description is
attached to this Exhibit.
PERIOD OF USEFULNESS: 20 years or more
TOTAL PROJECT COST .(ESTIMATED): $16,625,000
EXHIBIT A
to
LEASE CONTRACT
PROPOSED OAKLAND COUNTY
JAIL ADDITION
Description of property encompassed by proposed additions:
The proposed additions to the existing Oakland County Jail are in two
areas adjacent to the existing jail building.
The two additions are„designated Parcel A and B and are described as
follows:
Parcel A - (Adjacent to south edge of existing jail structure)
Beginning at the southwest corner of the existing jail structure, said
corner having coordinates 552.67, E853.96 (designated on the original
jail plans - Giffels and Rossetti, Inc. - Architects Project No. 67101)
and said corner .being East 853.96 feet and South 52.67 feet from the
West 1/4 Corner of Section 19, T.3N., R.10E, City of Pontiac, Oakland
County, Michigan; thence North 1.33 feet; thence West 69:79 feet; thence
South 187,08 feet; .thence East 366.33 feet; thence North 185.75 feet;
thence West 29654 feet to the point of beginning (1.564 Ac.).
Parcel B - (Adjacent to the west face of the existing jail structure)
Beginning at a.rpoint on the, westerly side of the existing jail
structure, said point' being 87,84 feet north of the southwest corner of
the existing jail structure along the westerly wall of the structure and
said point having 'coordinates N35.I7, E853.96 (designated on the
original jail plans'-'Giffels and Rosetti, Inc. - Architects Project No.
67101) and said point being East 853.96 feet and North 35.17 feet from
the West 114 corner of Section 19, T.3N., R.10E., City of Pontiac,
Oakland County, Michigan; thence West 48.08 feet; thence South 17.33
feet; thence West 12.00 feet; thence South 14.67 feet; thence East 12.00
feet; thence South 17.33 feet; thence East 48.08 feet; thence North
along the westerly wall of the existing jail structure 49.33 feet to the
point of beginning (0.058 Ac.).
1 .4 T L.
sA hi&
PT. OF EEGINING
i PARCEL
\\
EXISTING
EXERCISE
YARD
I PT,; OF DEGINING
PARCEL.
/• //AMIPRO /
irriorten ,
littalkat,
dinammogoro
ii
iffAttWOvill
\
•iI . MUM - Ff!jjJTjii f ,
OAKLANEYQOUNTY
1PITION 198
<4'‘, PA
6.500
6,500
6.500
TOTAL 16,625,000.00 9,89V,00.01) 26,524,500.00
EXHIBIT B
TO LEASE CONTRACT
OAKLAND COUNTY DEBT RETIREMENT SCHEDULE, BUILDIN5 AUT1iOR14Y DUNDS
Intere:st ,_:5tart date: 04/01/87
Firt interecA payment; 10/01/87
DEBT SERVICE SCHEDULE
PINNUAL
RATE
6.500
6.500
6.'500
6.500
6.500
6.500
6.801)
6.;:5c)n
6.500
PERIOD
ENDING PRINCIPAL
1 10/01/87 0.00
2 04/01/88 685,000.00
3 to/ol/e8 0.00
4 04/01/89 730,000.00
5 10/01/89 0.00
6 04/01/90 780,000.00
7 10/01/90 0.00
04/01/91 830,000.00
8 10/01/91 0.00
10 04/01/92 B85,000.00
11 10/01/92 0.00
12 04/01/93 940 7 000.00
13 10/01/93 0.00
14 0 4 / 0 I / 1,005,000.00
15 10/01/94 0.00
16 04/01/951 1,070,000.00
17 10/0111 95 0.00
18 04/01/96 1,140,000.00
18 10/01/96 0.00
20 04/01/97 1,210,000.00
21 10/01/97 0.00
22 04/01/98 1,290,000.00
23 10/01/98 0.00
24 04/01/99 1,375,000.00
25 10/01/99 0.00
26 04/01/00 1,465,000.00
27 10/01/00 0.00
28 04/01/01 1,!J60 1 000.00
29 10/01/01 0.00
30 04/01/02 1,660,000.00
TinM-R1-!:A TOTAL
540,312,50 540,312.50
540,312.'50 1,225,712.50
518,050.00 518,050.00
518,050,00 1,240,050.00
494,325.00 494,:25.00
1.274,25.00
468,975.00 460,975.00
460,975.00 1,298,975.00
442,000.00 442,000.00
442,000.00 1,7.27,000.00
413,-2.57.M)
782,687.50
38 2 7 1,50 a7 e.7,13 !...5 0
025. 1,4-20,025.00 '350,00
115,250.00
1,455,250.00
2:717 .2CC:'228,200.00
2 7 20 0 1,488,200.00
218,075.00 27.8,875.00
21'1.8,875.00 1,528,875.00
196,950.00 196,?50.00
196,950,00 1.571,950.00
152,262.50 152,262.50
152,262,50 1.6 1 7 262 „ C.)
104,650.00 104,650..00
104 1 6'50.00 1,664,650.00
57.'11,950.00 51,950.00
7 1 9'50 0 0