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HomeMy WebLinkAboutResolutions - 1965.12.21 - 19657At a meeting of the Board of Supervisors of the County of Oakland; State of Michigan, held in the County Building in the City of Pontiac, Michigan, on the 21st day of December 1965, at 9:30 o'clock A.M., Eastern Standard Time, which meeting was part of the regular September session of said Board. PRESENT: Allerton, Alward, Bachert, Beecher, Brewer, Carey, Case, Charteris, Cheyz, Clarkson, Demute, Dewan, Dohany, Duncan, Durbin, Eduard, Forbes, Fouts, End, Frye, Gabler, Goodspeed, Grisdale, Hagstrem, Hall, Hamlin, Heacock, Horton, Hudson, Hursfall, Ingraham, Johnston, Kennedy, Kephart, Knowles, Lahti, Laurie, Lessiter, Levinson, Linley, Macdonald, Mainland, Mastin, McAvoy,Melchert, Mercer, Miller, Mills, Mitchell, Nelson, CY/Donoghue, Oldenburg, Olson, Patnales, Peterson, Potter, Powers, Rehard, Remer, Rhinevault, Rowston, Simson, Slavens, H.Smith, W.Smith, Solberg, Tapp, Terry, They, Tinsman, Turner, Valentine, Von, Walker, Webber, Wilcox, Woodsjockey (78) ABSENT: Brickner, Casey, Cohen, Houghten,Huhn, Maier, Menzies, Travis. (8) The County Clerk presented to the Board a letter from the County Drain Commissioner submitting to the Board a certified copy of a resolution adopted by the Drainage Board for the Pontiac -Clinton River Drain No 2 on November 16 1965, providing for the issuance of $2,245,000 of bonds by said Drainage Board of which said Drain Commis- sioner is Chairman, and requesting that the Board ofSupervisors pledge the full faith and credit of the County for the prompt payment of the principal of and interest on said bonds as the same shall become due. By unanimous consent the said communication and resolution were ordered filed with the County Clerk. Mi". The following resolution was offered by Potter and seconded by Mr. H. Smith #4503 WHEREAS, proceedings have been taken by the Statutory Drainage Board forfthe location, establishment and construction of the Pontiac-Clinton River pain No 2 under the provisions of Act No 40 of the Public Acts of Michgian of 1956, as amended, pprsuant to a petition filed by the City of Pontiac on NOvember 6, 1964; and WHEREAS, the said Drainage Board for thePontiac-Clinton River Drain No. 2 by resolution on November 16 , 1965, authorized and provided for the issuance of bonds in the aggregate principal amount of $2,245,000 in anticipation of the collection of an equal amount of unpaid special assessments against the City of Pontiac as part of the share of said city of the cost of said drain, said special assessments having been theretofore duly confirmed by said Drainage Board; and WHEREAS, said bonds are to be designated the Pontiac-Clinton River Drain No 2 Bonds, are to be dated February 1, 1966, will bear in- terest at an average rate not exceeding 4-1/2%, and will be subject to prior redemption at timesand prices specified in the said resolution of said Drainage Board authorizing their issuance; and 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 indebted- ness have been issued to finance a project, the petition for which was filed after June 6, 1961 in anticipation of the collection of the install- ment and interest pursuant to the provisions of 2 #4 503 this chapter and the board of' supervisors/has previosuly acted, by a resolution adopted by a 2/3rds vote of its members 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 evidences of indebtedness, or "(2) If any bonds or other, evidence of indebted- ness 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 pro- visions of this chapter,"; and WHEREAS, said Drainage Board deems it advisable and neces- sary 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 protect and preserve the public health and therefor 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 SUPERVISORS OF THE COUNTY OF OAKLAND, MICHIGAN, as follows: 1. 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 do agree that in the event the City of Pontiac 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 Pontiac-Clinton River Drain No: 2, 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 -3- #4503 of the County. Treasurer, for and on behalf of:the County of Oakland, to take all actions and proceedings and pursue all remedies permitted or authorized by law for the reimbursement ofsuch 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 - Allerton, Alward, Bachert, Beecher, Brewer, Carey, Case, Charteris, Cheyz, Demute, Dewan, Duncan, Durbin, Edward, Forbes, Fouts, Frid, Frye, Gabler, Goodspeed, Grisdale, Hagstrom, Hall, Hamlin, Heacock, Horton, Hudson, Hursfall, Ingraham, Johnston, Kennedy, Kephart, Knowles, Lahti, Laurie, Lessiter, Levinson, Linley, Macdonald, Mainland, Mastin, McAvoy, Melchert, Mercer, Miller, Mills, Mitchell, Nelson, OtDoneghue, Oldenburg,Olson, Peterson, Potter, Powers, Rehard, Romer, Rhinevault, Rowsten, Sdmson, Slavens, H, Smith, Solberg, Tapp, Terry, Tiley, Tinsman, Turner, Valentine, Veil, Walker, Webber, Wilcox, Woods, Yockey. (74) Nays - None. (0) STATE OF MICHIGAN ) 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/rds vote of its members elect at the SS: meeting (which was apart of the regular September session) of the Board of Supervisors of the County of Oakland held on the 21st day of December my office. ,l965 the original, of which is on file in John D. Murphy County Clerk Dated: December 21 1965.