HomeMy WebLinkAboutResolutions - 1986.10.23 - 18155Daniel T. Murphy, County E
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Date
MISCELLANEOUS RESOLUTION #86301
BY: FINANCE COMMITTEE, DR. G. WILLIAM CADDELL, CHAIRPERSON
IN RE: AUTHORIZATION FOR LOCAL TAX COLLECTING UNITS TO ISSUE TAX
ANTICIPATION NOTES ON BEHALF OF THE COUNTY
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS the various Oakland County cities and townships serve as
collecting units for current county taxes from December 1st to March 1st
each year; and
WHEREAS said collecting units may, pursuant to Chapter 4 of Act 202 of
the Public Acts of 1943 as amended, issue Tax Anticipation Notes on behalf
of the County to cover the County's current tax collection each year; and
WHEREAS the issuance of said notes on behalf of the County by the
various local collecting units would result in the County Treasurer
receiving 80 to 95 percent of the County's tax monies on or before the
20th of December each year;
NOW THEREFORE BE IT RESOLVED that the County Treasurer is hereby
authorized to enter into agreements with the various County tax collecting
units to permit the issuance of Tax Anticipation Notes for the collection
of current County taxes, provided each agreement is approved by the
Department of Corporation Counsel for the County.
Mr. Chairperson, on behalf of the Finance Committee, I move the
adoption of the foregoing resolution.
FINANCE COMMITTEE
I HEREBY APPROVE THE FOREGOING RESOLUTION
#86301 October 23, 1986
Moved by Caddell supported by Skarritt the resolution be adopted.
AYES: R. Kuhn, S. Kuh, Lanni, Law, McConnell, McDonald, McPherson,
Moffitt, Nelson, olsen, Page, Perinoff, Pernick, Price, Rewold, Rowland, Skarritt,
Webb, Wilcox, Caddell, Calandro, Doyon, Fortino, Gosling, Hassberger, Hobart. (26)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted.
$TATE OF M1CHAGAN)
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
Miscellaneous Resolution adopted by the Oakland County Board of Commissioners
at their meeting held on October 23, 1986
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 Pontiac, Michigan
this 23rd day of lectoher 19 8_6
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CYnn/D: Allen, Co!inLi Clerk/
Register of Deed