HomeMy WebLinkAboutResolutions - 1990.09.13 - 18340arry Crake, Chairperson
Planning and Building Committee
BY APPROVE THE FORffiGOING RESOLUTION
Date
H
T. lAurpnhy,
September 13, 1990
Miscellaneous Resolution # 90220
By: Larry P. Crake, Chairperson
Planning and Building Committee
In re: OAKLAND COUNTY DEPARTMENT OF SOLID WASTE MANAGEMENT -
Authorization of County Treasurer to File a Notice of Intent
to Issue an Obligation
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS, Oakland County is involved in development of the Oakland
County Solid Waste Management System pursuant to Act 186 of the Michigan
Public Acts of 1989; and
WHEREAS, the County intends to finance the acquisition, construction
and equipping of solid waste disposal facilities, including but not limited
to a recycling facility, a waste-to-energy facility, composting facility,
and capacity in one or more sanitary landfills through the sale of limited
tax general obligation bonds; to be covered by system revenues including
tipping fees; and
WHEREAS, pursuant to Public Act 202 of the Michigan Public Acts of 1943
requires the filing of a Notice of Intent to Issue an Obligation with the
Michigan Department of Treasury; and
WHEREAS, the cost of the aforementioned filing is $400.00.
NOW THEREFORE BE IT RESOLVED that the County Treasurer be authorized to
file with the Michigan Department of Treasury a NOTICE OF INTENT TO ISSUE AN
OBLIGATION in connection with the limited tax general obligation bonds to be
issued by the County of Oakland in the principal amount of not to exceed
$500,000,000 to acquire, construct and equip solid waste disposal system
facilities, including, but not limited to, a recycling facility, a
composting facility, a waste-to-energy facility and capacity in one or more
sanitary landfills, and to pay, upon the filing of said notice, the filing
fee of $400.00
Mr. Chairperson, on behalf of the Planning and Building Committee, I
move the adoption of the foregoing resolution.
DQ7/AU9062FN
September 13, 1990
FISCAL NOTE (Misc. 90220)
BY: FINANCE COMMITTEE, DR. G. WILLIAM CADDELL, CHAIRPERSON
IN RE: DEPARTMENT OF SOLID WASTE MANAGEMENT-AUTHORIZATION OF COUNTY
TREASURER TO FILE A NOTICE OF INTENT TO ISSUE AN OBLIGATION
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 the aforenamed resolution and finds:
1) The resolution authorizes the County Treasurer to file a Notice
of Intent to Issue an Obligation with the Michigan Department of
Treasury, in an amount not to exceed $500,000,000, issued for the
Oakland County Solid Waste Management System.
2) Consistent with Miscellaneous Resolution #90123, the bonds when
authorized by this Board to be issued, are to be limited tax
general obligation, to be repaid by revenues received by the
Oakland County Solid Waste Management System.
3) The statutory limit for county debt is $2,576,598,537 (10% of the
1990 State Equalized Value of Oakland County). As of July 31,
1990, the outstanding county debt is $338,724,001 or 1.3% of the
1990 State Equalized Value.
4) The cost to file the Notice of Intent to Issue an Obligation is
$400 and is available in the Department of Solid Waste Management
Professional Services line-item (4-83300-101-01-00-3128)
FINANCE COMMITTEE
'Misc. Resolution # ()ono September 13, 1990
Moved by Crake supported by Moffitt the resolution be adopted.
AYES: R. Kuhn, S. Kuhn, Luxon, McConnell, Moffitt, Oaks, Pappageorge,
Pernick, Price, Rewold, Skarritt, Aaror, Bishop, Caddell, Crake, Huntoon, Johnson. (17)
NAYS: Law, McPherson, Olsen, Gosling, Jensen. (5)
ABSTAIN: Wolf. (1)
A sufficient majority having voted therefor, the resolution was adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND
I, Lynn D. Allen, Clerk of the County •f 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 September 13, 1990
with the original record thereof now remaining in my office.
In Testimony Whereof, I have hereunto set mv hand and affixed the seal of the County
of Oakland at Pontiac, Michigan this 13th day of September 1991L
LA,A .
In Lyn?. Allen, County --Clerk