HomeMy WebLinkAboutResolutions - 1991.05.09 - 18560May 9, 1991
MISCELLANEOUS RESOLUTION #91092
BY: FINANCE COMMITTEE, DR. G. WILLIAM CADDELL, CHAIRPERSON
IN RE: CO 'UTER SERVICES - FUNDING ELECTRONIC IMAGING PROJECT
FOR CIRCUIT COURT/FRIEND OF THE COURT
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS Miscellaneous Resolution #91010 approved implementation of an
Electronic Imaging System for the Circuit Court/Friend of the Court and
authorized the initiation of a contract with IBM; and
WHEREAS the resolution further states that transfer of funds will be
presented once an analysis of payment options has been completed; and
WHEREAS the IBM Credit Corporation has presented a proposal to finance
the project ($1,400,000) at a fixed rate of 6.95% to be paid over a period of five
(5) years (60 payments, $27,692/each) anticipated to begin July, 1991; and
WHEREAS the cost for the balance of 1991 equals $166,152, of which
$119,216.53 is a principal payment and $46,935.47 is interest payment; and
WHEREAS Computer Services and the Department of Management and
Budget recommend this method of financing for the electronic imaging system.
NOW THEREFORE BE IT RESOLVED the Oakland County Board of
Commissioners authorizes the Department of Management and Budget and the
Treasurer's Office to negotiate a package to finance the electronic imaging project
in the amount/terms not to exceed $1,400,000 at 6.95% to be paid over a period of
five (5) years in 60 installments at $27,692 each.
BE IT FURTHER RESOLVED if a financial package is negotiated then, the
1991 Computer Services Budget be amended as follows:
4-10100-181-01-00-8615
4-10100-181-01-00-8615
Operating Transfer-Out $( 46,935.47)
Equity Transfer-Out ( 119,216.53)
3-63600-181-01-00-8101 Operating Transfer-In $ 166,152.00
$ -0-
BE IT FURTHER RESOLVED if cash purchase proves to be the most
financially feasible form of funding the electronic imaging project then, the 1991
Computer Services budget be amended as follows including $351,682.15
transferred from Designated Fund Balance (1-10100-492-039):
General Fund
Revenue
3-10100-909-01-00-9901 Prior Year Balance $ 351,682.15
Expenditures
4-10100-181-01-00-6312 Special Projects
4-10100-181-01-00-8615 Transfer Out
$( 812,090.00)
1,163,772.15
-0-
Computer Services Fund
Revenue
3-63600-181-01-00-8101 Transfer In $ 1,163,772.15
1-63600-455-01 Revenue Over Expense $ 1,163,772.15
-0-
Mr. Chairperson, on behalf of the Finance Committee, I move the adoption
of the foregoing resolution.
FINANCE COMMITTEE
Resolution # 91092 May 9, 1991
Moved by Caddell supported by Crake the resolution be adopted.
AYES: Aaron, Bishop, Caddell, Crake, Ferrens, Gosling, Huntoon, Jensen,
Johnson, Krause, McConnell, McCulloch, McPherson, Millard, Oaks, Palmer, Pappageorge,
Pernick, Price, Schmid, Serra, Skarritt. (22)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted.
STATE OF MICHIGAN)
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 M. 9, 1991
with the original record thereof now remaining in my office.
In Testimony Whereof, I have hereunto set MY hand and affixed the seal of the County
of Oakland at Pontiac, Michigan this 9th day of May, 1991____ _ _ ---------
,7 A
. Allen, County C16-rk