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HomeMy WebLinkAboutResolutions - 1968.07.18 - 18916PIJ "/WORKS CO_MMITTEE Homer Case, .Chairman Alarry W. Horton. Charles B. Edwarth; At a regular meeting of the Oakland County Board of Supervisors, Oakland County, Michigan, held in the Supervisors Auditorium in the City of Pontiac, Michigan, on July 18, , 1968, at 10:00 o'clock A.M., Eastern Daylight Time. PRESENT: Bachert, Beecher, Bingham, Brennan, Brewer, Case, Charteris, Colburn Bewail, Doherty, Duncan, Edward, Edwards, Famularo, Forbes, Frid, Fusilier, Gabler, Grisdale, Hall, Hamlin, Horton, Hursfall, Ingraham, Inwood, Kephart, Lessiter, Levinson, Ljnley, Long, Mainland, Maly, Mastin, McDonnell, McNamee, Melchert, Melstrom, Miller, Mitchell, OtDonoghue, Peasley, Perinoff, Peterson, Potter, Powers, Reid, Berner, Rlainevault, Rusher, Schiffer, Schwartz, Shepherd, Simson, Slavens, Solberg, St ine , Tapp, Taucher, Taylor, Tinsman, Treacy, Valentine, Wahl, Walker, Webber, Wilcox, Woods, Paholak. ABSENT: Birnkr ant , Bryant, Clarkson, Cline, Eldridge, Fouts, Gallagher, Geralds, Johnson, Kephart, Kramer, Lahti, Lyon, Nelson, Oldenburg, &nith, Wilmot Miscellaneous Resolution No. 4904 Recommended by the Board of Public Works Re: Clinton-Oakland Sewage Disposal System Mr, Homer Case presented the following resolution, a copy of which has been sent to each member of the Board of Supervisors: RESOLUTION PROPOSED BY OAKLAND COUNTY BOARD OF PUBLIC WORKS WITH RESPECT TO CLINTON-OAKLAND SEWAGE DISPOSAL SYSTEM WHEREAS, the Board of Public Works has submitted to this Board a Revised Exhibit B and Supplement to Exhibit D to the Amended Clinton-Oakland Sewage Disposal System Contract dated January 11, 1967, setting forth a revised estimate of cost and a schedule for county bonds all of which have been approved by the Board of Public Works and by the six townships which are parties to said Amended Contract; and WHEREAS, the said Amended Contract dated January 11, 1967, is between the County of Oakland and the Township of Waterford, the Township of Avon, the Township of West Bloomfield, the Township of Independence, the Township of Orion and the Township of Pontiac and provides for the acquisition and financing of the Clinton-Oakland Sewage Disposal System at such estimate of cost or actual cost accepted by the parties, and the Board of Public Works in such approval did authorize the Chairman and Secretary of the Board of Public Works to initial said new exhibits and attach them to said Amended Contract subject to the approval of this Board of Supervisors; and WHEREAS, there is herewith submitted said Revised Exhibit B and Supplement to Exhibit D to said Amended Clinton-Oakland Sewage Disposal System Contract dated as of January 11, 1967, which new exhibits are as follows: NOW, THEREFORE, BE IT RESOLVED, that the said revised estimates of cost and period of usefulness as set forth on Revised Exhibit B and the Supplement to Exhibit D, as herein set forth, each be approved and the County Clerk is hereby authorized to endorse on said new exhibits the fact of such approval and return the same to the Board of Public Works. BE IT FURTHER RESOLVED, that the Chairman and Secretary of the Board of Public Works be and they are hereby authorized and directed to initial and attach said new exhibits, on behalf of said County of Oakland to said Amended Contract to be dated January 11, 1967, between the County of Oakland and the Township of Waterford, the Township of Avon, the Township of West Bloomfield, the Township of Independence, the Township of Orion and the Township of Pontiac, Total Construction Contract Cost . , $23,098,935.19 Balance of Bonds Required . $ 2,700,000.00 274tertz .224, Prank Naglich, P.E 40661 PP Revised EXHIBIT " 6/17/68 ESTIMATE OF CONSTRUCTION COSTS CLINTON-OAKLAND SEWAGE DISPOSAL SYSTEM Based on Construction Bids of June 11, 1968 Construction Contract No. 1 Construction Contract No. 2 Construction Contract No. 3 Construction Contract No 4 Construction Contract No. 5 f a a 1,•.0 $ 5,198,948.74 . 3,095,776.45 . 6,941,154.00 7,147,056.00 .9.1.9 0 y 716,000.00 Engineering 6 v 9 9 a 0 a 5.0 4 v 9 9 0 980,000.00 Legal . . wa n a y w ra p 9 9 0 9 0 w 52,000.00 Financial . 9 9 9 0 P a u 0 0 a p e P P 20,000.00 Administration — .... 00.9 0 .4, . 460,000.00 Inspection . a 0 n• a 0 •9 0 v 1 V • V 460,000.00 Contingency . — . . a 0 •0 •0 •9 4 1,180,542.42 Easement Acquisition . . 99 .0 */ 0 9 0 100,000.00 Soil Test Borings. . . • • 9 9 0 .9 9 9 . 13,000.00 Engineering (Treatment Plant Study) . . pQ C I v . 81,000.00 Acquisition of Existing Systems „ OP 9 0 9 9 . 200,000.00 Sub--Total. ... ......... . $26,645,477.61 Capitalized Interest @ 5% for 18 months on total bond issue 4.a 90 9 1,470,000.00 Total Project Cost — , $28,115,477.61 Less Estimated Federal Grant . , . . . w 4 8, a $ 8 515 477.61 Total Bond Issue Required „ . . . . v P 0 9 9 $19,600,000.00 Bonds Issued to Date . P 0 .w 0 0 a 0 w 16,900,000.00 I hereby estimate the period of usefulness of this project to be forty (40) years and upward. ::(r •.•)•••••: " I /1 1 1E1 0'0 1/0 8, !1' r. : h.A711, , 11, 1,7 997 ! 1 1' .1. 0. z.19/1 91u/47 1. „:6 Supplement EXIIJE:113.1 " 922,0 i 1 ". • 1 . A • (71, INF D 1--;11-: W.:. (1 DI 1$P )1.T\ ,(3 1{1.321-11M _ _ _ 1-;(1fir,I .1 9.. OiVIENTS _ . _ 195)3 VC. l'/919.-/Pc.:1c.'10 11/A0...0 Twp, )1.. 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'1,4 13,033. 114 R ,09('1 43 7 1 791. 36 756: 27 7 709, 411 7 , 650. 011 360. 7 , 04. 93- 940. 06 6 , 631 19 •SERIES B BOND RESOLUTION WHEREAS, the Oakland County Board of Supervisors, by Miscellaneous Resolution No. 4342, adopted on June 22, 1964, as amended by Miscellaneous Resolution No. 4667, adopted on December 14, 1966, and as amended by Miscellaneous Resolution No. 4690, adopted on March 9, 1967, did approve the establishment of a sewage disposal system to be known as the Clinton-Oakland Sewage Disposal System to serve the Clinton-Oakland Sewage Disposal District as therein described; and WHEREAS, pursuant to a resolution of this Board of Super- visors adopted March 9, 1967, and pursuant to resolutions adopted by the governing bodies of the Township of Waterford, the Township of Avon, the Township of West Bloomfield, the Township of Independence, the Township of Orion and the Township of Pontiac (the participating municipalities), the County of Oakland and the participating municipalities have entered into an Amended Contract dated as of January 11, 1967, whereby the County agrees to construct and finance said Clinton-Oakland Sewage Disposal System and the participating municipalities agree to pay their respective shares of the cost thereof, based upon an estimated cost of $16,900,000, and as represented by the amount of bonds issued by the County to finance said Clinton-Oakland Sewage Disposal System, which Amended Contract is set forth in full in the aforesaid resolution of this Board of Supervisors; and WHEREAS, construction bids for the construction of said Clinton-Oakland System pursuant to said Amended Contract have been received in amounts substantially in excess of estimated costs so that it has been necessary to revise the said estimated costs from $16,900,000 to $28,115,477,61, which revision makes necessary the issuance by said County of additional bonds in the amount of $2,700,000, after application against said increased cost of the amount of available Federal grants', as apPears from the Revised Exhibit "B" submitted to and approved by this Board of Supervisors; and WHEREAS, it is provided in paragraph 13 of said Amended Contract, as follows! 13. If the proceeds of the sale of the original bonds to be issued by the county are for any reason insufficient to complete the projcct in accordance with the plans and specifications therefor, the board. shall, if necessary, submit to the Board of Supervisors of Oakland County a resolution Providing for the issuance of additional bonds in an amount necessary to provide funds to pay the municipal cost of completing the said project, in which event the duties and obligations of the board and the municipalities as expressed and set forth in paragraph 8 of this contract shall be applicable to such additional series of bonds as well as the original series, it being at all times fully recognized and agreed that the payments to be made by the municipalities in the proportions specified in paragraph 8 of this contract, in the manner specified in paragraph 10 of this contract, shall be based upon the municipal cost of the project. In •lieu of the issuance of such additional bonds, any other method may be agreed upon in the county and the municipalities to provide the necessary funds to com- plete the said project," and it is further provided in paragraph 10 of said Amended Contract, in referring to Exhibit B to said Amended Contract and to the revi- sion of said Exhibit D, as follows: "The obligation herein exores red shall be an -plicabl(m to all bonds issued bv the ccun 4 :v to ccv the pal cost of the nroject, as herein deflned, whether issued at one time or at more than one time, ; and WHEREAS, there has been submitted to this Board of Super- visors a Supplement to Exhibit D to said Amended Contract dated as of January 11, 1967, which has been approved and adopted by the six townships which are parties to said Amended Contract and by the Board of Public Works, on which is set forth a schedule of payments to be made by the townships to the county aggregating the sum of $2,700,000; and WHEREAS, pursuant to the provisions of said Supplement to Exhibit D to said Amended Contract of January 11, 1967, the aggregate amounts of the several annual installments to be paid by the participating municipalities are the same as the annual Series B bond maturities hereinafter set forth; and WHEREAS, under said Amended Contract of January 11, 1967, and the Supplement to Exhibit D thereof the participating munici- palities are to pay annually the amount of each annual installment to the County, and in addition thereto are to pay semi-annually, interest and paying agent fees and other bond, handling costs as determined pursuant to said Amended Contract; and WHEREAS, the County is desirous of issuing bonds in an- ticipation of the payments to be made by the participating munici- palities under said Amended Contract of January 11, 1967, and said Supplement to Exhibit D thereto; and WHEREAS, the County Board of Public Works has approved this bond resolution and recommended its adoption by the Board of Supervisors. THEREFORE, BE IT RESOLVED 7Y THE BOARD Or SURE 1 VISO7S OF OAKLAND COUNTY, MICHIGAN, as follows: I. That the bonds of said County of Oakland, aggregating the principal sum of Two Million Seven Hundred Thousand Dollars ($2,700,000) be issued for the purpose of defraying part of the increased cost of acquiring the initial stage of construction of said Clinton-Oakland Sewage Disposal System. That said bonds shall be known as "Oakland County Sewage Disposal Bonds - Clinton-Oakland System, Series B"; shall be dated August 1, 1968; shall be numbered Consecutively in the direct order of their maturities from 1 upwards; shall be_in the denomination of $5,000 each; shall bear interest at a rate or rates to be hereafter determined not exceeding six percent .:(6%) per annum, payable on November 1, 1968 and semi-annually there- after on the first days of May and November in each year; and shall mature on the first day of May in each year as follows: 1972 - $35,000 1973 - 40,000 1974 - 40,000 1975 - 45,000 1976 - 50,000 1977 - 50,000 1978 - 55,000 1979 - 60,000 1980 - 60,000 1981 - 65,000 1982 - $70,000 1983 - 70,000 1984 - 75,000 1985 - 80,000 1986 - 80,000 1987 - 85,000 1988 - 90,000 1989 - 95,000 1990 - 95,000 1991 - 100,000 1992 - $105,000 1993 - 110,000 1994 - 115,000 1925 - 115,000 1996 - 120,000 1997 - 125,000 1998 - 130,000 1999 - 135,000 2000 - 135,000 2001 - 135,000 2002 - 135,000 Bonds maturing on or after May 1, 1985 shall be subject to redemp- tion as a whole at the option of the County prior to maturity on any one or more interest payment dates, on or after May 1, 1984. Bonds called for redemption shall be redeemed at the par value thereof and accrued interest plus a premium on each bond computed as a percentage of the face amount thereof in accordance with the following schedule: 3% if called to be redeemed on or after May 1, 1984 but prior to May 1, 1990 2% if called to be redeemed on or after May 1, 1990, but prior to May 1, 1995 designated by the original purcha of the bonds. Such purchaser affixed thereto their facsimile signaturG'q; and that up the execu- -fry 1% if called to be redeemed on or after May 1, 1995, but prior to May 1, 2000 0% if called to be redeemed on or after May 1, 2000, hut prior to maturity. Notice of redemetior shall be given to the holders of the bonds to be redeemed br publication of such notice not less than thirty (30) days prior to the date fixed for redemption, at least once in a newspaper or publication circulated in the City of New York, New York. which carries as a. part of its regular service, notices of the sale of municipal bends. Bonds so called for redemption shall not bear interest after the date fixed for redemption, provided, funds are on hand with the naying agent to redeem the same. Ponds maturing prior to the year 1985 shall not be subject to redemption prior to maturity. All bonds shall have proper coupons attached thereto evidencing interest to their respective dates of maturity. 2. That the principal of bonds of said series and the interest thereon shall be payable in lawful money of the United States of America, at such bank and/or trust company which qualifies as a paving agent under Federal or Michigan law and which shall be shall have the right to name a similarly cualified co-paying agent. The Director of Public Works may aPprove such paying agents. 3. That the Chairman of the Board of Supervisors' and the County Clerk of the County of Oakland, are hereby authorized and directed to execute said bonds for and on behalf of the said County and to affix the seal of said county thereto, and to execute the interest coupons to be attached to said bonds by causinci .to be tion of said bonds and attached coupons, the same shall he delivered. the Treasurer of said county who is hereby authorized and directed to deliver said bonds and attached coupons to the purchaser thereof, upon receipt of the purchase Price therefor, 4. That the said bonds are to be issued pursuant to the provisions of Act No. 185 of the Michigan Public Acts of 1957, as amended, in anticipation of the payments to become due to the County from the participating municipalities under said Amended Contract of January 11, 1967, as set forth on Supplement to Exhibit D thereto, which payments are in the principal amount of the bonds herein authorized with interest thereon as therein provided. As provided in said Act No 185, the full faith and credit of each of the Town- ship of Waterford, the Township of Avon, the Township of West Bloomfield, the Township of Independence, the Township of Orion, and the Township of Pontiac is pledged to the makinq of its respective share of said payments when due, and in addition, there is hereby pledged, as authorized in said Act No. 185, the full faith and credit of the County of Oakland to the payment of the bonds, both principal and interest when due. 5. That the obligation of each of said townships to make the payments set forth in the Amended Contract, and esPecially Exhibit D thereto, in anticipation of which the Oakland County Sewage Disposal Bonds - Clinton-Oakland System, Series A, dated May 1, 1968, in the amount of $16,900,000, are issued is separate but ecTual on a parity as a pledge of full faith and credit with the obligation' of each of said townships to make the payments net forth in the Amended Contract, as supplemented by the attachment thereto of the Revised Exhibit B and the Supplement to Exhibit D thereto, in anticipation of which the Oakland County SonTe Disposal Bonds - Clinton-Oakland System, Series B, dated August 1, 1968, in the amount of $2,700,000 are issued. The pledge by the County of Oakland of its full faith and credit to payment of said bonds, both Series A and Series B, as authorized in said Act No 185, applies equally and without preference and priority to the bonds of each series. 6. That all moneys paid to the County by the participa- ting municipalities pursuant to said Amended Contract of January 11, 1967, and Supplement to Exhibit D thereto, shall be set aside by the County Treasurer in a separate fund and bank account to be used solely for the payment of the principal of and interest on the bonds herein authorized. Interest payable on the bonds for eighteen (18) months from their date due November 1, 1968, May 1, 1969 and November 1, 1969 is capitalized and is payable from the proceeds of said bonds. 7. That said bonds and attached coupons shall be sub- stantially in the following form: UNITED STATES OF AMERTCA STATE OF MICHIGAN COUNTY OF OAKLAND Number $5,000 OAKLAND COUNTY SEWAGE DISPOSAL BOND - CLINTON-OAKLAND SYSTEM SE7TES B KNOW ALL MEN BY THESE PRESENTS, that the County of Oakland, Michigan, hereby acknowledges itself indebted and for value received, promises to pay to the bearer hereof, the sum of FIVE THOUSAND DOLLARS on the first day of May, A.D. 19 , together with interest thereon from the date hereof until paid, at the rate of ) per centum per annum, payable November 1, 1968, and thereafter semi-annually on the first days of May and November in each year. Both principal and interest hereof are pay- able in lawful money of the United States of America at - in the City of , upon presentation and surrender of this bond and the coupons hereto attached as they severally mature. This bond is one of a series of bonds of like date and .tenor except as to maturity numbered consecutively in the direct order of their maturities from 1 to , both inclusive, aggregating the principal sum of Two Million Seven Hundred Thousand Dollars ($2,700,000), issued under and pursuant to and in full conformity with the Constitution and Statutes of the State of Michigan, and especially Act No 183 of the Michigan Public Acts of 1957, as amended, for the purpose of defraying part of the increased cost of acquiring the initial stage of construction of the Clinton-Oakland Sewage Disposal System. Bonds of this series maturing prior to May 1, 1985 are not subject to redemption prior to maturity. Bonds maturing on or after May 1, 1985 shall be subject to redemption as a whole, at the option of the County prior to maturity on any one or more interest payment dates on or after May 1, 1984. Bonds called for redemption shall be redeemed at the par value thereof and accrued interest plus a premium on each bond computed as a percentage of the face amount thereof in accordance with the following schedule: 3% if called to be redeemed on or after Mav 1, 1984, but prior to May 1, 1990 2% if called to be redeemed on or after May 1, 1990, hut prior to May 1, 1995 1% if called to be redeemed on or after May 1, 1995, but prior to May 1, 2000 0% if called to be redeemed on or after May 1, 2000, but prior to maturity. (SEAL) County Clerk Notice of redemption shall be given to the holders of bonds called for redemption by publication of such notice not less than thirty (30) days prior to the date fixed for redemption, at least once in a newspaper or publication circulated in the City of New York, New York, which carries as a part of its regular service, notices of the sale of municipal bonds. Bonds so called for redemption shall not bear interest after the date fixed for redemption, provided funds are on hand with the paying agent to redeem the same. This bond as to both principal and interest, is payable from moneys to be paid to the County of Oakland by the Township of Waterford, the Township of Avon, the Township of West Bloomfield, the Township of Independence, the Township of Orion and the Township of Pontiac, pursuant to a certain Amended Contract dated January 11, 1967, and Supplement to Exhibit 0 thereto, between the County of Oakland and said municipalities whereby each of said municipalities ageess to pay to the said County its share of the increased cost of acquiring said initial stage of construction of the Clinton-Oakland Sewage Disposal System, in annual installments, beginning April 1, 1972, in the same amounts as the annual maturities of the bonds of this issue, and semi-annually beginning April 1, 1970, to pay the amount of the interest and bond handling charges. The full faith and credit of each of said municipalities is pledged for the prompt payment of its obligations pursuant to said Amended Contract, and Supplement to Exhibit D thereto, and in addition, by affirmative vote of 3/5ths of the members-elect of its Board of Supervisors, the full faith and credit of the County of Oakland is pledged to the payment of this bond, principal and interest, when due. It is hereby certified, recited and declared that all acts, conditions and things required to exist, happen and be performed precedent to and in the issuance of the bonds of this series, existed, have happened and have been performed in due time, form and manner as required by the Constitution and Statutes of the State of Michigan, and that the total indebtedness of said County, including this series of bonds, does not exceed any constitutional or statutory limitation. IN WITNESS WHEREOF, the County of Oakland, Michigan, by its Board of Supervisors, has caused this bond to be signed in its name by the Chairman of said Board of Supervisors and by the County Clerk of the County, and its corporate seal to be affixed hereto, and has caused the annexed interest coupons to be executed with the facsimile signatures of said Chairman and County Clerk, all as of the first day of August, A.D. 1968. COUNTY OF OAKL AND, MICHT(TAN By Chairman of Board of Supervisors By County Clerk Chairman of Board of Sunervisors (COUPON) Number On the 1st day of , A.D. 19 , the county of Oakland, Michigan, will pay to the bearer hereof, the sum shown hereon in lawful money of the United States of America at the , in the City of , same being the interest due on that day on its Oakland County Sewage Disposal Bond - Clinton- Oakland System, Series 13 dated August 1, 1968, No. (FACS IMILE) (FACSIMILE) 2. That the said bonds shall not be issued until the . ftiniciTal Finance Commission of the State of Michigan shall have first issued its order granting permission to so do, as provided in .Act No. 202 of the michigan Public Acts of 1943, as amended, and the Board of Public Works through its Director is hereby authorized and directed to make application to said Commission for the issuance of such order. . 9. The Board of Public Works is hereby authorized to sell said bonds at not less than par and accrued interest in accordance ,,7!_th the laws. of this state and to do all things necessary to effect the sale and issuance of said bonds, subject to the provisions of this resolution. 10. All resolutions and parts of resolutions, insofar as the same may be in conflict herewith, are hereby rescinded. It was moved by Mr. Homer Case , seconded by Mr. Valentine , that the foregoing resolution be adopted. Upon roll call the vote was as follows: Yeas: Bachert, Beecher, Bingham, Birnkrant, Brennan, Brewer, Case, Charteris, Colburn, Dewan, Doherty, Duncan, Edward, Forbes, Fouts, Frid, Fusilier, Gabler, Grisdale Ball, Hamlin, Horton, Hursfall, Ingraham, inwced, ,Kephart, Lessiter, Levinson, Linley, Long, Mainland, Maly,-Mastin McDonnell, McNamee, Melchert, Melstrom, Mitchell, 0/Donoghue, Peasley, Perinoff, Peterson, Powers, Reid, Remer, Rhinevault, Rusher Schiffer, Schwartz, Shepherd, Simson, Slavens, Solberg, Stine, Tapp, Taucher, Taylor, Tinsman, Treacy, Valentine, Wahl, Walker, Webber, Wilcox, Woods, PAplak, 1. Nays: None Motion adopted. STATE OF MICHIGAN ) ss: COUNTY OF OAKLAND ) I, the undersigned, the County Clerk of the County of Oakland, do hereby certify that the foregoing is a true and complete copy of the proceedings pertaining to the Clinton-Oakland Sewage Disposal System, duly adopted and taken by the Board of Supervisors of said County at a regular meeting held July 18, the originals of which are on file in my office. , 1968, Count(, Oak1a0d4ounty Dated! July 18, 1968 , 1968.