HomeMy WebLinkAboutResolutions - 1963.03.06 - 20048Dres -nt ,.:1 the follcwir..R, resolution: Webber
, tf! County Board ervisors by
prove the establisnt of the farmington ewmge Di
District lies all of the area of the Township. of 7;4st mfield
agreements date " 1958 Tzbruarv 9, 1959, all be-
Act N
March 6, 1963
Miscellaneous Resolution N'D 4117
Recommended by Boa:,!. of ru:cqic.
Re. Farmi.ngton SwrAge T.sai System -
14 Mile-Mapi:
resolution, iiisc. No, 327:), pAc-17,ted August 12, LC57, as amended
by resolution, Misc. No. 3339, o.dopted January 24, 1958, did ap- -
to serve the Farmington Sewage Disposal District within which
and other areas; and
1-LLE,„4,AS pursuant t the ..:armington Sewage Disposal
System Agreement, dated No7evaer 1, 1957, as amended by amendatory
tween. the County of Okiand and the Cities of Southfield and Ke
Harbor and the Townships of West Bloomfield and Farmingtnn, muni
pal corporations in said County of Oakland, the said ccrty actin
throug.17 its Department of Public Works, did acquire the original
Farmington seuge Disposal System and did finar.:. '1.1„ch acquisition
by the issuL,•. of bonds in anticipation of payments to
said municipal corporations to the county in accordance with the
provisions of said agreement, as amended:°, and
go
zde
185 ci the Michigan p..Jfjc Acts of
1957, as amended, grants to the Board of Public Works in any cnty
117 C1-",
ment a7r7yaErs in 11 in resolution of this Boa ,-d; and P„
Engineering, registered iprotessional engineers, and the estimate.
to extend f.lny system having a Department of Dublin
acquired pursuant thereto; and
T,TWEREAS, it is necessary to extend said System in said
Township of Jest Bloomfield ,Tn ,,r the provisions of said Act No.
185 by the construction of certain sewers and related facilities
(hereinafter someti7nQs referred Co as '14 Mile-
generally described and located as set forth in the agreement
hereinafter referred to for the purpose of collecting and dis-
posing of sewage originating within a part of said towrip, and
to finance construction of said 14 Mile-Maple Road Arm by the
issuance of the bonds of the county in. anticipation of the collec-
tion. of amounts to become due to the county from the township as
provided in the hereinafter menticned agreement between the county
and the township; and
, pursuant to a resolution of this Board of
isors adopted on December 20, 1962, and pursuant to a
resolution adopted he Thwc..ship Boar,_ or th said township on
November 14, 1962, the County of Oakland and said township entered
into an agreement daten as c,f October 17, 1962, .wherby the county
did agree to construct said 14 Mile-Mapie Roa. Arm and the said
4 , did agree to na=“. the cap ita l cost thereof,agree-,
'4 L,r,. ,.)4.A construction plans and specifications for said
14 Mil Road. Arm, as prepared: by Ra12;,h Vain and Kieft
of $403,000 as the cost of said system and 40 years and umqards
as the period of usefulness thereof, as prepared by said registered
professional engineers, hava been approved by the Board of Public
Works and by the Board of Supervisors of Oakland County; and
WI:1=AS,
in said a4“aement of October 17, 1962, the
a7y:u1ts of the annual installments to be paid under said agreement
by the said township are provided (the said amounts being the same
as the annual bond maturities hereinafter set forth), which annual
installments are to be paid I
each year beginning June
said township is to pay
aid township on J=e 1st in
, and in addition thereto the
y on June let, beginning June 1,
1964, interest as provided in said agreement on the outstanding
unpaid installments; and
v7747REAS, the county is desirous of issuin onds in
anticitation of the payments to be made by the said Towrsnip of
Bloomfield. under said agreement of October 17, 1912 and
WHEREAS, the Oakland 1 .ty Board of Public Works has
approved this resolution and recommended its ado
Beard of Supervisors;
ThEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISMS
OF OAKLAND COUNTY, MICHIGAN, as follows:
the
Th=lt- e bonds of said County of Oakland, aggregating
the principal sum of Four Hundred Eight Thousand Dollars :3408,000 )
shp,11 be issued for the purpose of defraying the cost of extending
the Farmington Sewage Disposal System by acquiring the 14 Mile-
Maple Road Arm; shall ho known as 'Oakland County Sewage Disposal
dates on and after at the par value thereof and
be subject to redemption prior to matur All hands Ll
Far•:di - 14 MilpleR.o Arm.'; shall be dated
as of April 1, 1963; shall be numbered consecutively in the
direct order of their maturities from 1 to 408, q7.11 c 1 LI S ive;
shall be in Lhi:. .,.cnittmination of $1,7_ each; shall bear interst
rate or rates to be hereafter determined not exceeding five
per cent (5%) per annum, payable on July I, 7:•63 and semi-annua
thereafter on the fist day cf J anuary and July in each year; and
shall mature on the 3t tay of July in each year as folic
in the year 1963
DO. in each of the years 1364 thee. 197 2
Bonds maturing on and after July 1, :KJ') shall be
subject to redemption prior to maturity in direct numerical
at the option of the county, on any one or more interest payment
accrued interent. Notice of redaT7tior, shall be given to thc
holders of the bonds tt redeemed b.! !ication of such notice
not less than thirty (30) days prior to the date fixed for re7':c77-
tion, at least once in a newspaper or publication circulated in
the City of Detroit, Michigan, which carries as a part of its
regular service, notices of the sal&, of municipal bonds,
so called for redemption shell not bear interest after the date
fixed for redemption, provided funds are on hand with the payl,n7
agent to redeem the same. Bonds maturing prior to the
shall have proper coons attached thereto evidencing interest to
their respective dates of maturity .
1.hat the principal of said bonds and the inte,--os
thereon shall be Fa le iv 1W4:zj M.C.717 of the United States of
on said bends on July 1, nd on January 1, 1964 is hereby 63
America, at such bank and/or ompany whi7.- qualifies as a
paying agent under Federal or 1achigan law and which shall be
designated by the original pu..L .et.Laser of the bonds. Such purchaser
shall have the rig: to a stI7ilarly qualified co-paying agent.
. 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 or behalf of the said
county and to affix the seal of said county there:o, and to execute
the interest coupons to be attached to said bonds by causing to
be affixed thereto their FR.simile signatures; and that upon the
execution of said bonds and attached coupons, the same shall be
delivered to 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 purot to
the provisiona of Act No. 185 of the Michigan. Public Acts of 1957,
as amended, in anticipation of and payable solely from the collec-
tion of the to become due to the county under sa
agreement of October 17, 1962, amounts aggregate the sum of
$408,000, with interest as therein provided. The interest payable
capitalized and shall be paid from the proceeds of the sale of
said bonds, full if,!,..th ,,nd credit of the County. of Oakland is
not pledged for the payment of the principal of and interest on
said bonds.
4. V 4.,
of West Bloomfield toward the al cost cf said 14 Mile- pi ap
5, That all money.
Road Arm pursuant to said a2,-cment of Odtohr 17, 1962, shall
be set aside by the County Treasurer in a separate fund and bardt
account to be used for the payment of the principal and interest
on the bonds herein authorized .thcrise as provided in said
agreenient.
6. That said bond; an .:71, attached coupons shall be
substantially in the following form:
6
UNIT7D STATES •1
ST.S...T•OF
CO.1 1E17 OF
$1,000
OAKLAND COUNTY S7WAGE DISPOSAL F,ONTARMINCTON SYSTEM
14 -MILE-MAPLE ROAD „Aam
?;z:ard ALL 1:177 . 3Y THESE PRESENTS, that the County of
Oak ]and, MiChigan, hereby acknowledges itself indebted and for
value received, promises to pay to the bearer hereof, the sum of
ONE THOUSAND DOLLARS
on the first day of July, AD. 19 , together with interest thereon
from the date hereof until paid, at the rate of
) per centum par annum, payable July .
1963, and thereafter semi-annually on the first days of January
and July in each year Both principal and interest hereof are
payable in lawful money of the United States of America at
in the City of
, upon presentation and surrendar
this bond and the coupons hereto attached as they severally mature,
This bond is one of a series of bonds of like data and
tenor except as to maturity .
numbered consecutively in the direct order of their maturities
from I to 408, both inc .sive, aggregating the principal sum of
Four Hundred Eight Thousand Dollars ($408,007), issued under and
pursuant to and in full conformity with the Constitution and
Statutes of the State of Michigan, and especially Act NO. 185 of
the Michigan Public Acts of 1957, as amended, for the Lurpose of
defraying the cost of acquiring the 14 Mile-Maple Road as an
extension of the Farmington Sewage Disposal System. This bond is
not a general obligation of said County . of Oakland, but is payable,
as to both principal and interest, solely from moneys to be paid
to said county by the T ,,nmtip of West Bloomfield IL said county,
pursuant to a certain agreement dated October 17 1962, between
the said county and tranship, -tbc.roby said to ,j.T-.. has agreed to
pay to the said county the total capital cost of said 14 Mile -
Maple Road. Arm in anl:‘ual installments (with interest on deferred
installments) equal the principal maturities of this series of
bonds,
f,onds of this series maturing prior to
not subject to redemption prior to maturity. Bonds maturing on
and after July 1, 1965 shall be subject to redern prior to
maturity in direct numerical order, at the option of the county,
n any one or more interest payment dates on and after July 1,
at the par value thereof and accrued interest. Notice of
July 1, 1965, are
-7-
redetion shall be gen to the holders of the bonds to be
redeemed 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 Detroit,
Michigan, which carriE.s as a part of its regular service, notices
of the sale of municipal bonds, Bonds so called for redemption
shall not bear intereet after the date fixed for redemption,
provided funds are on hand with the paying agent to redeem the
same,
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 barer performed in due time,
form and manner as required by the Constitution and Statutes of
the ',itate of Michigan, 6od that the total indebtedness of said
c'ey, including of bonds, does not exceed any con-
stitw.:ional or statutory limitation,
IN WITNESS T.,;a:,.1F•.0F, 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 April, A.D. 1963,
COUNTY OF OAKLAND, MICHIGAN
By
airman or t5
Supervisors
By
AD. 19 , the
bearer hereof the
Dollars
Chairman of Board of Supervisor Cu :lerk
Number
On ;:zhe 1st day of
dounty of Oakland, Mixhigan,
sum of
lawful Tc,7ney o 12 Ur!A.ted Stats at America- at the
in the City ol
same being the interest 07:1 that day on its
Oakla71.d County Sewage Disposal Bond-Farmingtcn System - 14 Mile-: dated April 1, 1963 0 No Maple Road Arm,
That f.h said bonds shall not be issued until
.;ipal Finance Commission of the State of tichigan shall have
xirst issued i.
in Act No, 2f'r,Z, 1.iehigan Public Acts of 1943, as amended, and the
_ari of Public Works through its Director is hereby authorized
ex granting permission to so do, as provided
and directed to rni pi.Lcation to said
issuance of such (..r
ssion for the
The Board of Public Works is hereby authorized to
sell said accordance with the laws of this state at a
price not less 'A37, of their par value and with accrued interest
to the date of delivery and to do all things necessary to effect
the sale and .issiaauce of said bonds, si-Coject to the p :.visions of
this resolution
9. Al Loris and pazts of resolutions, 50110-t
as the same. may be in conflict herewith, are hereby rescinded,
Mr, Webber moved the adoption of the foregoing resolution.
The motion was supported by Mr. Knowles. The resolution was adopted
by the following vote:
YEAS: Allerton, Alward, Beecher, Bloc, James Carey, John Carey,
Charteris, Cheyz, Clack, Clarkson, Cooley, Cummings, Pewan, Dickens, Dohany,
J. W. Duncan, WM. Duncan, Durbin, Edward, Edwards, Ewart, Frid, Gabler,
Goodspeed, Hall, Hamlin, Heacock, Hoard, Horton, Huber, Wallace Hudson,
Hulet, Jackson, Kephart, Knowles, Marshall, McAleer, McCartney, McGovern,
Melchert, Menzies, Mercer, Mitchell, O'Donoghue, Oldenburg, Osgood, Potter,
Rehard, Remer, Semann, Slavens, Voll, Webber. (53)
NAYS: None. (0)
ABSENT: Archambault, Bachert, Beamer, Bonner, Brickner, Calhoun,
Davis, Demute, Forbes, Fouts, Hagstrom, WM. Hudson, Hursfall, Ingraham,
Johnson, Lahti, Lessiter, Levin, Levinson, Love, MacDonald, Majer, Miller,
Moore, Noel, Rhinevault, Smith, Solloy, Tiley, Tinsman, Wood, Yockey. (32)