HomeMy WebLinkAboutResolutions - 1990.08.30 - 18070Mr. Chairperson, on behalf of the 13,
I move adoption of the foregoing resoluti
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(Wing Coyymittee,
AND BUILDING C_OltI ri6hE THE FOREGOING RESuL
MISCELLANEOUS RESOLUTION 90133' June 14, 1990
BY: Planning and Building committee, Larry P. Crake, Chairperson
DRAIN COMMISSIONER-ADVANCE OF FUNDS FOR BUNNY RUN LAKE IN RE : LAKE LEVEL PROJECT
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS, the Oakland County Board of Commissioners adopted
Miscellaneous Resolution No. 89131 on May 25, 1989, directing the
Prosecuting Attorney to institute a complaint to establish a lake level for
Bunny Run Lake, as provided in Act 146 of the Public Acts of 1961; and
WHEREAS, the Oakland County Circuit Court has set a hearing for
Wednesday, June 6, 1990, to determine whether or not to establish
normal heights and levels for Bunny Run Lake, and to confirm a special
assessment district; and
WHEREAS, the Drain Commissioner, in order to proceed with the
construction of a new dam at Bunny Run Lake, requests the advance of
an amount not to exceed $285,000, with the full amount of the advance to
be repaid from a special assessment roll to be collected over a period of
ten years, said advance to be repaid with interest at the current
Treasury Bill interest rate at the time of adoption of this resolution; and
WHEREAS, the actual amount to be advanced, not to exceed
$285,000, shall be determined upon the receipt of bids.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of
Commissioners, for the protection of public safety, and to protect the
natural resources of the State, and to protect the value of properties
around Bunny Run Lake, deems it expedient to authorize the advance of
a sum not to exceed $285,000 to the lake level control district for Bunny
Run Lake, with the full amount of the advance to be repaid from a
special assessment roll to be collected over a period of ten years, said
advance to be repaid with interest at the current Treasury Bill interest
rate at the time of adoption of this resolution.
BE IT FURTHER RESOLVED that no advance shall be made to the
lake level control district for Bunny Run Lake until a special assessment
roll has been confirmed pursuant to the provisions of Act 146 of the
Public Acts of 1961.
BE IT FURTHER RESOLVED that the real property in the area of the
improvement and the Township of Orion, which will benefit from the
construction of the new dam, shall bear the entire cost of the project,
and that the cost of maintaining the level of said lake shall be borne by
the benefited properties in the area of improvement and the Township of
Orion.
FISCAL NOTE (Misc. 90133) August 30, 1990
BY: FINANCE COMMITTEE, DR. G. WILLIAM CADDELL, CHAIRPERSON
IN RE: DRAIN COMMISSIONER - ADVANCE OF FUNDS FOR BUNNY RUN LAKE,
LAKE LEVEL PROJECT, MISCELLANEOUS RESOLUTION # 90133
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 Miscellaneous Resolution #90133 and finds:
1) The amount of the advance is estimated at $285,000 to be repaid
over a ten-year period from a special assessment roll.
Since the advance is long-term, the appropriate interest rate
would correspond to the ten-year Treasury Bond rate, and the
resolution should be amended in the NOW THEREFORE BE IT RESOLVED
paragraph to read:
...said advance to be repaid with interest
compounded quarterly fixed at the ten-year
Treasury Bond interest rate in effect on the
date this resolution is adopted."
3) In conformance with Miscellaneous Resolution #89276, "Loan of
County Funds Policy", the resolution should be amended to add the
following paragraph:
"BE IT FURTHER RESOLVED that said advance must comply with
all legal mandates including those of the Municipal Finance
Division of the State Department of Treasury (formerly known as
the Municipal Finance Commission)."
4) The resolution should be amended as follows:
a) In the third WHEREAS paragraph, third line, delete the words
"amount not to exceed" and insert the word "estimated".
b) In the fourth WHEREAS paragraph, first line, delete the words
"not to exceed" and insert the words "estimated at".
c) In the NOW THEREFORE BE IT RESOLVED paragraph, fifth line,
delete the words "a sum not to exceed" and insert the words "an
estimated".
d) Add a paragraph following the NOW THEREFORE BE IT RESOLVED
paragraph which reads:
"BE IT FURTHER RESOLVED that the Chairperson of the Board of
Commissioners be authorized to approve additional amounts, if
needed, up to 15% above the estimated $285,000 if the bids
received for the reconstruction of the dam are higher than the
engineer's estimate."
5) Amendments to the 1990/1991 Biennial Budget are not required.
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Resolution # 90133 August 30, 1990
Moved by Crake supported by Jonnson the resolution be adopted.
Moved by Rewold supported by Johnson the resolution be amended the
NOW THEREFORE BE IT RESOLVED paragraph be amended to submit the language
"Advance of funds for Bunny Run Lake Level Improvement Project and its accompanying
-Fiscal Note to read "said advance to be repaid without interest".
Discussion followed.
AYES: Johnson, Rewold. (2)
NAYS: Crake, Ferrens, Gosling, Huntoon, Jensen, R. Kuhn, S. Kuhn, Law,
Luxon, McConnell, McCulloch, McPherson, loffitt, Oaks, Olsen, Pappageorge, Pernick,
Price, Skarritt, Wolf, Aaron, Caddell, Chester. (23)
A sufficient majority not having voted therefor, the amendment failed.
Moved by Rewold Resolution #90133, Advance of funds for Bunny Run Lake
Level Improvement Project, and its accompanying Fiscal Note, be amended to read:
"Such advance to be repaid at a simple interest rate of 6%".
Discussion followed.
Mr. Rewold withdrew his amendment and submitted the following amendment:
"the interest rate be set at the current 6-month Treasury Bill Rate."
A sufficient majority having voted therefor, the amendment carried.
Moved by Caddell supported by Rewold the Resolution be amended to agree
with the Fiscal Note Items #3 and #4,
A sufficient majority having voted therefor, the amendment carried.
Moved by Caddell supported by Rewold the Fiscal Note be amended by
deleting item #2.
A sufficient majority having voted therefor, the amendment carried.
Vote on resolution (with Fiscal Note attached) as amended:
AYES: Ferrens, Gosling, Huntoon, Jensen, Johnson, R. Kuhn, S. Kuhn, Law,
Luxon, McConnell, McCulloch, McPherson, Moffitt, Olsen, Pappageorge, Pernick,
Rewold, Skarritt, Wolf, Aaron, Caddell, Chester, Crake. (23)
NAYS: None. (0)
STATIIIUMGANT majority having voted therefor, the resolution, as amended, was adopt
COUNTY OF OAKLAND
I, Lynn D. Allen, Clerk of the County of Oakland, do hereby certify that the foregoing
resolution is a true and accurate copy of a resolution adopted by the Oakland County
Board of Commissioners on August 30, 1990
with the original record thereof now remaining in my office.
In Testimony Whereof, I have hereunto set ffly hand and affixe the seal of the County
of Oakland at Pontiac, Michigan this 3Oth day of Augock_ A ./719 911_
Lynn VAllen, County Clerk