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March 26, 1987
MISCELLANEOUS RESOLUTION 87067
BY: FINANCE COMMITTEE, DR. C. WILLIAM CADDELL, CHAIRPERSON
IN RE: ADVANCE FOR PRELIMINARY ENGINEERING - CITY OF ROCHESTER HILLS
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS the Oakland Technological Park is anticipated to attract $1.5
billion in private investment and 50,000 jobs to Oakland County,
facilitating economic development and generating tax revenues; and.
WHEREAS improvements to the roads surrounding the Park are necessary,
such improvements beginning with preliminary .engineering studies; and
WHEREAS the Board of Commissioners, through Miscellaneous Resolution
#86255, adopted September 11, 1986, advanced $2.5 million for preliminary
engineering; and
WHEREAS the City of Rochester Hills requests a $150,000 advance for
preliminary engineering to make road improvements associated with the
Park;
WHEREAS Auburn Hills anticipates need for $2.3 of the $2.5 million,
leaving sufficient funds to advance to Rochester Hills; and
WHERAS Board action is required for the County to enter into
agreements with municipalities; and
WHEREAS it is in the interest of the County and the citizens thereof
to facilitate and coordinate the preliminary engineering.
NOW THEREFORE BE IT RESOLVED that the County Executive negotiate a
contract with Rochester Hills and the Road Commission for a $150,000
adva-ue to conduct preliminary engineering work and to ensure repayment of
the funds.
BE IT FURTHER RESOLVED that said funds bear an interest of six and
three-quarters percent (6.75%) per annum.
BE IT FURTHER RESOLVED that these funds be repaid in ten (10) equal,
annual payments beginning in 1988.
Mr. Chairperson, on behalf of the Finance Committee, I move the
ne'option of the foregoing resolution.
FINANCE COMMITTEE
March 26, 1987
MISC. RESOLUTION # 87067
Moved by Caddell supported by Nelson the resolution be adopted.
AYES: Rewold, Rowland, Skarritt, Wilcox, Aaron, Caddell, Calandro,
Crake, Doyon, Gosling, Hobart, Jensen, Richard Kuhn, Susan Kuhn, Lanni, Law,
Luxon, McConnell, McDonald, Angus McPherson, Ruel McPherson, Moffitt, Nelson,
Perinoff, Pernick, Price. (26)
NAYS: None.
A sufficient majority having voted therefor, the resolution was adopted.
$TATE OF M(OHIGANI
COUNTY OF OAKLAND)
t, 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 County Board of Commissioners
at their meeting held on March 26, 1987
with the original record thereof now 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 Fontiac, Michigan
this 26th day of March
1111
A Air
Lynryr Allen, Coun y Clerk/
Register of Deeds
1987