HomeMy WebLinkAboutResolutions - 1991.12.12 - 18456Miscellaneous Resolution Number 91300 Date: December 12, 1991
By: Commissioner Serra - 18th District
In Re: "Build for Tomorrow Fund" - BONDING
To: The Oakland County Board of Commissioners
Mr. Chaimian, Ladies and Gentlemen:
WHEREAS the Oakland County Executive has stated that the County must
encourage reinvestment in older urban communities and
WHEREAS many older cities in Oakland County have experienced significant
financial difficulties, budget cuts and reductions in State and Federal assistance and
WHEREAS the Oakland County Board of Commissioners has previously considered
the establishment of a revolving fund to provide capital for infrastructure improvements and
other public works projects in older communities and
WHEREAS such a fund could be financed with bond sales, loans would be repaid
by municipalities and the ultimate cost to the County should be nothing
NOW THEREFORE BE IT RESOLVED that Oakland County establish a "Build
for Tomorrow" revolving fund, financed through bond sales, and a policy adopted to
estabolish criteria for the disbursement of funds and other procedures.
#91300
December 12, 1991
The Vice Chairperson referred the resolution to the General Government
Committee and the Finance Committee. There were no objections.