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HomeMy WebLinkAboutResolutions - 1968.05.27 - 18955At a meeting of the Board of Supervisors of the County of Oakland, State of Michigan, held in the Supervisors Auditorium in the City of Pontiac, Michigan, on the 27th day of May, 1968, at 9:30 o'clock A.M., Eastern Daylight Time, which meeting was part of the regular April session of said Board. PRESENT: Bachert, Bailey, Beecher, Bingham, Birnkrant, Brewer, Bryant, Case, Charteris, Clarkson, Cline, Co'burn, Dewan, Doherty, Duncan, Edwards, Famularo, Fisher Forbes, Frid, Fusilier, Gabler, Gallagher, Grisdale, Hall, Hamlin, Horton, Hursfall, Ingraham, Inwood, E. Kephart, J. Kephart, Kramer, Lahti, Lessiter, Long, Maly, Mastin, McDonnell, McNamee, Melchert, Melstrom, Miller, Mitchell, Nelson, O'Donoghue, Oldenburg, Peasley, Perinoff, Peterson, Potter, Powers, Reid, Remer, Rhinevault, Rusher, Schiffer, Shepherd, Simson, Slavens, Smith, Solberg, Taucher, Taylor, Tinsman, Valentine, Wahl, Walker, Webber, Wilcox, Wilmot, Woods. ABSENT: Brennan, Edward, Eldridge, Fouts, GeraIds, Johnson, Levinson, Linley, Lyon, Mainland, Schwartz, Stine, Tapp, Treacy. 9TX xixxamoperXXYLIsSX1KM(a000.4eXtXXIXXXXIXIM04x1txtnemotxxxxxix. naxtoe XXgXicXXXgFalaYnXX)0MXXXX100cX.K.Y0iXXXXsXXXXXXICXXXXXXXIS Xai-XXiMeX 113(xxxxx-puysx&yrnovvexgawoogoatxxxxxxmixmoGaavvxmixix )6xxoemoixxxxxx )(we ›owtivozofou Misc. 4873 • IN RE; NICHOLS RELIEF DRAINS By Mr, Potter The following resolution was offered by Potter and seconded by Walker WHEREAS, proceedings have been taken by the Statutory Drainage Board for the location, establishment and construction of the Nichols Relief Drains under the provisions of Act Niz% 40 of the Michigan Public Acts of 1956, as amended, pursuant to a petition filed by the Township of Bloomfield on March 31, 1966; and • WHEREAS, the Drainage Board for said Nichols Relief Drains by resolution on January 17, 1968, as amended on May 23, 1968, authorized and provided for the issuance of bonds in the aggregate principal amount of $5, 825, 000 in anticipation of the collection of an equal amount of unpaid • special assessments against the County of Oakland and the Township of Bloomfield as their respective shares of the cost of said drains, said special assessment having been theretofore duly confirmed by said Drainage Board; and WHEREAS, said bonds are to be designated Drain Bonds, are to be dated May 1, 1968, will bear interest at a rate not exceeding 6% with no coupon exceeding 6%, and will be subject to prior redemption at times and prices specified in the said resolution of said Drainage Board authorizing their issuance; and .7 WHEREAS, Section 474 of said Act No. 40, as amended, provides in part as follows: _"If any public corporation fails or neglects to account to the county treasurer for the amount of any installment and interest, then the county treasurer shall advance the amount thereof from county funds in the following cases: "(1) If any bonds or other evidence of indebtedness have been issued to finance a project, the petition for which was filed after June 6, 1961 in anticipation of the collection of the installment and interest pursuant to the provisions of this chapter and the board of supervisors has previously acted, by a resolution adopted by a 2/3 vote of itsmembers -elect, to pledge the full faith and credit of the county for the prompt payment of the principal of and interest on the bonds or evi- dences of indebtedness, or "(2) • If any bonds or other evidence of indebtedness have been issued to finance a project, the petition for which was filed prior to June 6, 1961 in anticipation of the collection of the installment and interest pursuant to the provisions of this chapter." ; and WHEREAS, said Drainage Board deems it advisable and necessary to obtain from this Board a resolution consenting to the pledge of the full faith and credit of the county on the aforesaid bonds; and WHEREAS, the said drainage project is immediately necessary to pro- ,: tect and to preserve the public health and, therefore, it is in the best interest of the County of Oakland that said bonds be so sold. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPER- VISORS OF THE COUNTY OF OAKLAND, MICHIGAN: . That pursuant to the authorization provided in Section 474 of Chapter 20 of the Drain COde, the Board of Supervisors of the County of Oakland does hereby irrevocably pledge the full faith and credit of the County of Oakland and does agree that in the event the Township of Bloomfield or the County of Oakland shall fail or neglect to account to the County Treasurer of the County of Oakland for the amount of any installment and interest for the Nichols Relief Drains ; when due; then the amount thereof shall be immediatelY advanced from County funds, and the County Treasurer is directed to immediately make such advancement to the extent necessary. 2. That in the event that, pursuant to said pledge of full faith and credit, the County of Oakland advances out of County funds, all or any part • of said installment and interest, it shall be the duty of the County Treasurer, • for and on behalf of the County of Oakland, to take all a.c.iiions and proceedings and pursue all remedies permitted or authorized by law f or the reimbursement of such sums so paid. 3. That all resolutions and parts of resolutions insofar as the same • may be in conflict with the provisions of this resolution be and the same hereby • • are rescinded. ADOPTED: Yeas - Bachert, Bailey, Beecher, Bingham, Birnkrant, Brewer, Bryant, Case Charter's, Cline, Colburn, Dewan, Doherty, Duncan, Famularo, Fisher, Forbes, Fusilier, Gabler, Gallagher, Grisdale, Hall, Hamlin, Horton, Hursfall, Ingraham, Inwood, Kephart, E., Kephart, J., - Kramer, Lahti, Lessiter, Long, Maly, Mastin, McDonnell, McNamee, Melstrom, Miller, Mitchell, Nelson, O'Donoghue, Oldenburg, Peasley, Perinoff, Peterson, Potter, Powers, Reid, Remer, Rhinevault, Rusher, Schiffer, Shepherd, Simson, Slavens, Smith, Solberg, Toucher, Taylor, Tinsman, Valentine, Wahl, Walker, Webber, Wilcox, Wilmot, Wood --, - Nays - None. STATE OF MICHIGAN ) SS. COUNTY OF OAKLAND ) I, the undersigned, the duly qualified and acting County Clerk and Clerk of the Board of Supervisors of the County of Oakland, do hereby certify that the foregoing is a true and complete copy of a resolution adopted by a 2/3rds vote of its members elect at'the meeting (which was a part of the regular April session) of the Board of Supervisors of the County of Oakland held on the 27th day of May, 1968, the original of which is on file in my office. County Clerk Dated: May 27, 1968.