HomeMy WebLinkAboutResolutions - 1963.04.15 - 20115Cit a Buildin7„ StrRet, 7.ac,
M t0 11 !
15th
r, on the NjVh day uf April, at 10:00 o'cl I
O y
'cled the dd. qpecifications*
lution, a copy ;
At a Regular
Oakland
Easter Standard Time
Allerton, Alward, Archambault : Bachert, Beecher, Bloe, Bonner, Calhoun, Campbell,
James Carey, John Carey, Case, Charteris, Cheyz, Clarkson, Cummings, Davids,
Davis, Demute, Dohany, J. W. Duncan, WM. Duncan, Durbin, Edward, Edwards, EWart,
Forbes, Fouts, Frid, Gabler, Goodspeed, Hagstrom, Hall, Hamlin, Heacock, Horton,
Huber, Wallace Hudson, Hursfall, Ingraham, Jackson, Kennedy, Kephart, Knowles,
Lahti, Lessiter, Levinson, Love, Marshall, McAleer, McCartney, McGovern, Melchert,
Menzies, Miller, Mitchell, Moore, Noel, OtDonoghue, Oldenburg, Osgood, Rehard,
Remer, Scramlin, Seeterlin, Semann, Slavens, Smith, Solley, Stephenson, Taylor,
They, Tinsman, Voll, Webber, Wood, Yockey. (77)
Brickner, Cooley, Dewan, Hoard, WM. Hudson, Levin, MacDonald, Potter. (8)
41.5
of Public 7Pcks
d CouruPy Water Supply deystam for Bloomfield Tol ,a
Webber
and c
C each meHp.- the Board of
fond' •- resolution
7d: d
and adopded, and
Webber
fc ''.)o,rks has approved•
0,12 Supervisors for its
approval, plans and spa!::_f:,.:ions for tL. acquisition of the Oakland
and -..:.r.c.,7ard
s :
spectficatinne and said estimates be and , That
the same are , that the County Clerk shall endorse
thereon the fact of such and that the same shall be returned Wal
to
County Watr 1113ply Sy.s for BloomfIel t,--,getr with
estimat e s of $2,120,000 (exclusive of $30,590 to be paid by the City
of Blceld Hills) as th.7 east of and fort
as the period of us!r; thereof, all prepared by Hubbell, Roth &
Inc., consulti engineers; and
WH=AS, the of Public WoT.ks has also approved and
"
!yC'ImItted
contract I
cJdtive
f Supervisors f-1' its
the County of Oakland and the Town;hip of Bloomfield
acqutsttion and financing of said system; and
,al, a prc
T
the
conct and Is
and on behalf of the
7•enship Clerk;
3, BE IT PE:-
of sal. .:*Thip has approved the
it be executed for
y the Zownshib Snre:::v 4..sor and the
THE,
arld dir
)F SUPERVISORS OF T1 AND
1:d of Public
That .7:-.71tr-,:ct. between the C -J .11-n17 of Oakland and the
Towrg fp of B1c)omfio,1 the slilaa hereby is approved, and that
and the Secretary of the said board of Public. hre be
.7nd directed to execute and deliver
said contract for and on of the (...:.ny.:tv of r:*1111d, in
original opies as they may deem advisa'ala, the said contract being
as foil,-
)y
WATER SUPPLY SYSTE
BETWEEN
JNTY AND BLOO
ZTRACT
D TOWNSHIP
ref
THIS CONTRACT, made and entered into this day of
.196 by and between the COUNTY OF OAKLAND,
a Mic county corporation (hereinafter referred to as the
"County"), party of the first part, and the Township of Bloomfield,
a Michigan township corporation located in said County (hereinafter
to as the "Township"), party of the second part;
WITNESSETH:
there are presently various independent water
supply systemslocated in and serving separate areas of the Township
which systems are owned and operated or are proposed to be acquired
by the Township, but the water supply from the wells which serve
sale not dependable as to quality or quantity and there
are certe areas of the Township without adequate water supply; and
WHEREAS, the Township is now able to secure a supply of
water of improved quality and dependable quantity from the City of
Detroit, and in order to make use of such supply and to provide an
adequate and efficient water supply for the more populous areas of
the Township and thus to promote the health and welfare of its
prese ,lt and future residents, it is essential that a system of water
ryee-
var-c
as 0 -
sion mains and related facilities be acquired to connect the
- 7stems now serving separate areas and to permit their use
Lere.t.ed system; and
s proposed, as the most feasible and economical WHEREAS,
means of meeting the Township needs, that the County, pursuant to
Act No. 185, Michigan Public Acts of 1957, as amended, acquire such
water transmission mains and related facilities, including the
elevated storage tank and site located in Birmingham Farms Sub-
division and presently a part of the water supply system for said
Subdivision, and that the County also acquire the Township's Water
System No 1, all of the aforesaid collectively to constitute the
"Oakland County Water Supply System for Bloomfield Township" (here-
inafter sometimes referred to as the "System"); that the County
pay to the Township, si a part of the cost of acquiring the system,
the sum of $246,750 iser the purpose of enabling the Township to
retire certain outstanding (but callable) bonds issued by the Town-
ship and payable from the net revenues of said Water System No
that the County lease such system to the Township in order that the
saint: may be operated by the Township, together with its existing
water distribution systems, as an integrated water supply sytem;
and that the cost of acquiring said "Oakland County Water Supply
Sy=;ts-- for Bloomfield Township" be defrayed (except for the payment
to be made by the City of Bloomfield Hills as hereinafter mentioned)
by the issuance of bonds by the. County pursuant to said Act, secured
by the obligation of the Township to pay to the County the cost of
acquiring said system (such bonds being sometimes hereinafter referred
to as the "County bonds"); and
.WHEREAS, puruant to the provisons of -said Act, the County
has established a Department of Public Works for the administration
powers conferred upon the County by said Act, which Department
2
is administered by a f Public Works (nrcinafter sometimes
referred to as the "Board") under the general control of the Board
Supervisors of the County, and
WHEREAS, by the terms of said Act the County is authorized
to acquire a water supply system within the Township, and the
County and the Township are authorized to enter into a contract
for the acquisition of such water supply system by the County and
for the payment of the cost thereof by the Township, with interest,
over a period of not exceeding forty (40) years, and the County is
then authorized, pursuant to appropriate action of its Board of
Supervisors, to issue its bonds to provide the funds therefor,
secured bythefUll faith and credit contractual obligation of the
Township to pay the cost thereof; and
laISU.AS, the County has heretofore approved the establishment
of the "Oakland County Water Supply System for Bloomfield Township"
to serve said Township as a whole, and has authorized and directed
the Board to secure plans and specifications for the location, con-
struction and acquisiton of such a system therein, to negotiate a
contract or contracts with the Township for the location, construction,
financing and operation of such a system, and to submit such plans,
specifications and contract or contracts to the Board of Supervisors
for its approval, along with such other resolutions which may
required in connec -'o - : Cs the financing of said system; and
W-FT-7, the County, through the Board, has caused plans
sl specific:sitions and an estimate of the cost of acquiring the
system to be prepared by Hubbell, Roth & Clark, Inc,, registered
professional engineers (hereinafter sometimes referred to as "the
Consulting Engineers"), said estimate of cost (including the above-
mencioned $243,750 for bond retirement and including $79,500 for
capitalized interest upon the County bonds) being in the sum of
Two Million One Hundred Fifty Thousand Five Hundred Ninety Dollars
($2,150,590), of which the estimated sum of $30,590 is to be paid
in cash by the City of Bloomfield Hills for the right to use certain
water mains which are te be constructed as a part of said system,
leaving a balance of $2,120,000 to be financed by the issuance of
County bonds (the latter amount being hereinafter sometimes referred
to as the "net cost of the project"); and
WHEREAS, in order to effectuate such acquisition and
financing of the system, it is necessary for the County and Town-
ship to enter into this contract;
NOW,THEREFORE, in consideration of the premises and the
covenants of each other, the parties hereto agree as follows:
— The County and the Township approve the establishment
of the "Oakland County Water Supply System for Bloomfield Township"
by the County under the provisions of Act No. 185, Michigan Public
Acts of 1957, as amended, to provide an integrated and enlarged
water supply system to serve the Township and its residents, and
the Township consents and agrees to the establishment of said system
within its corporate boundaries and to the use by the County of the
public streets, highways, alleys, lands and rights-of-way of the
Township for the purposes of the system and any improvements,
and extensions thereof.
Farms Subdivision., are to be conveyed to the County, and also c
Pr
and
;T:.anto attached 2 hereby made parts hereof, ar
(T'd No. 1 c,nd any securities in which 9
System No 1, and a1 -!. !vable and all accounts payabL
2. The system to be acquired by the County shall consist
of the Township's existing Water System No. 1 and the Township's
existing elevated st;.1 tank and site located in Birmingham
the additional water ti --ci7sion or mains and facilities,
which are identified and e to be 10c2 shown on Exhibit A,
which existing and coal facilities shall constitute the system
to be acquired as herein provided (the acquisition thereof being
her,T,',1.."71cr somet red to as the "project"), The said water
transmission mains aod tLlated facilities shall be constructed
substantially in ace ,-,dance with the plans and specifications
and filec:• H Lie Township Board and the Board of Public
by the Consulti .-oineers, The said plans and specifications,
the )f cost and period of usefulness submitted
- by said Csulting Engilts and set forth in Exhibit B, are hereby
approved and adopted. The said Exhibits A and B, so designated,
3, The Township, presently owns the said Water System No,1
and the said elevated st:.-r2 tank and site and agrees to convey .
to the County, prior to th.. sale of the County bonds, a good and
sufficient title tto, exclusive of operating supplies and equip-
ment and exclusive of all acounts receivable and accounts payable
and all 7,1:2A-1f:
suc. T3y be 1&6Lii.c0 The said Water System. No, 1 and said
and
oa1i. be so conveyed free of debt or encumbrance,
'01117,; paragraph with respect to Water
said Water System No L shall become corresponding accounts of
the new integrated system, and all moneys in the respective funds
of said water System No. 1 (including any securities in which such
moneys may be invested) which remain after making the payments and
deposits required by the following paragraph shall be retained
and transferred by 1 Teemship to the respective funds hereinafter
required to be established for the new integrated system in the
following order and amounts: First, there shall be transferred to
the Water System Debt Retirement Fund , to the extent of available
moneys, an amount sufficient to make the Township payments to the
County which are due on April 1, 1964 and October 1, 1964. Second,
there shall be transferred to the Water System Revenue Fund, to
the extent of available moneys, an amount sufficient to pay the
expenses of adminstration, operation, maintenance and repair
of the system for the quarterly period beginning October 1,
1963. Third, any r -inder of such money e shell be transferred
to the Reserve required to be maintained in the. Water System
Debt Retirement Fund,
4. The County hi Iipay from the proceeds of the County
bonds, as a part of the cost of acquisition of the system,
the sum of $246,750, representing $235,000 in principal amount
of, and $11,750 in call premiums on, the following outstanding
bonds which mature subseeuent to April 1, 1963, the said bonds
having been heretofore ' i by the Township and being payable
from the net revenues of Water System No. 1:
in ea.:.
anti 7
on
3-
TM-a
1977,
per annum
and at
through 1.977
Company, in the
the
agent for sairl to recle ,:- and retire the said out-
Water Sysem No, 1 Revenue Bonds, dated
PI:y 1, 1956, ag .,?„regati6g the principal.
oE $210,M1 , pa,;a6le April 1 as
follow: .310.000 of the years
1964 *r6J:. $1,,‘29 in eah of
the T,9.9 $20,000
Water
prine 4..
$5,006
1973
at 4-1
on 1!
. 1 Rever, Series
, 1956, the
of $25,0, ,5a7vable
in each years
:.6terest
on
a66um
The foregoing payment shall be made by the County, at the
time of delivery oL the County 15cds t5 the purchaser
thereof, to The Detroit Bank. and
City of Detroit,
Township, and shall lad by said bank, as paying
standing bon& the call pr6miumf. thereon.
The Township shall eall fo
1963, all of the
Outstanding, anc:.
later tha.
October 1,
ihod bond
the said bank, not
c then
bonds to the purchaser thereof, moneys from the existing funds of
said Water System No I in an amount which is sufficient to pay •
the accrued interest to October 1, 1963 on all of the bonds so called
for redemption and all paying agent fees and other charges pertaining
thereto
5. The Board shall, upon execution of this contract
by both parties, take such of the following actions as have not
theretofore been taken: (a ) secure any necessary additional
plans and specifications from the Consulting Engineers for the
facilities to be acquired.; (b) submit to the Board of Supervisdrs
of the County such resolutions as may be necessary, duly approved
and recommended by the Board, approving the plans and specifications
and the estimate of cost and period of usefulness and providing
for the issuance and sale of the County bonds in one or more series,
in the aggregate principal amount of $2,120,000 (being the preSently
estimated net cost of the project) or such different amount as
may reflect any revision in the estimate of cost or of the amount
necessary to be borrowed, said bonds to mature serially as
authorized by law, over a period of not less than twenty-five (25)
and not more than thirty (30) years, and to be secured by the
obligation of the Township to pay the net cost of the project with
interest; (c) take all necessary steps to secure the adoption of
said resolutions by the Oakland County Board of Supervisors and
the approval of the Municipal Finance Commission of the State of
Michigan for the issuance and sale of the bonds; (d) obtain
construction bids for the facilities to be acquired and enter into
construction contracts withthe lowest responsible bidders;
nnnnn•
advertise, sell and deliver the said bonds and apply the
proceeds as herein provided; (f) construct the said facilities,
thereby combining the existing systems and said facilities into
an integrated water supply system, within a reasonable time after
execution of construction contracts and delivery of the said County
bonds; and (g) do all other things required of said Board under
the provisions of said Act No 185, as amended. It is understood
and agreed that the said County bonds will not be the general
obligations of the County but will be payable solely from moneys
received by the County from the Township in performance of the
Township's contractual obligation to pay the net cost of said
project as herein provided,
6. The Township shall pay to the County the net cost of
the project, which shall be deemed to be the estimated amount of
$2,120,000 as set forth in Exhibit B, but subject to adjusLment
as hereinafter provided. The principal amount of such cost which
is due and payable in each year shall be paid by the Township to
the County in equal semi-annual installments on April 1 and
October 1 of such year. The principal amount so due and payable
in each year shall be as follows:
Year Due Princilial Amount Due
1965 $ 30,000
1966 30,000
1967 40,000
1968 40,000
1969 45,000
1970 45,000
1971 50,000
1972 55,000
1973 60,000
(e)
Year Due Principal' Amount Due
Inc. luding not so paid shall be subject to a
1974 $ 70,000
1975 75,000
1976 . 80,000
1977 85,000
1973 90,000
1979 95,000
1930 100,000
1931 105,000
1)32 110,000
1933 115,000
1984. 120,000
1935 125,000
1936 1T.,,000
1937
1988 10,000
1 939 150,000
The total principal amount from time to time remaining unpaid
shall bear interest from October 1, 1963, which accrued interest
shall be paid by the Township to the County on April 1 and
October 1 of each year, beginning April 1, 1';64 end continuing
until the net cost of the project is paid in full, and such int
shall be at such rates from time to time so that the amount due
and payable on each such date will be sufficient to pay all
interest (not capitalized), paying fees and other charges
becoming due during the next six months on or on account of the
County bonds from time to time outstanding. The Board shal
within 30 days after delivery of said bonds to the purchase
furnish the Township wiLn. c1:2te schedule of ,maturities of
principal and interest , :1 ,reon, and the Board shall also, at least
30 day 'Fore each Township payment is due, advise the Township
of the exact amount payable by the Township on such date,_ If the
Township fails to make any payment when flle, the whole amount
- 10 -
a 1.
a
77; 0
retired shall be cancelled and the principal obligation of the
Township shall be reduced by the principal amount of the bonds
so retired, which reduction shall be applied pro rata upon the
Townshtp's principal installment payments for the year of
maturity of the bonds so retired. If the actual cost of the
project shall exceed the estimated cost, then the remaining
principal installments and interest thereon to be paid by the
Township shall be increased pro rata so as to provide full
recovery of cost by the County, and the Board shall, if necessary,
take steps to secure issuance of additional County bonds to
defray the additional cost of the project.
Should the Township fail for any reason to pay the
County at the times specified, the amounts herein required to be
paid, the Board shall immediately notify, in writing, both the
County Treasurer of the County of Oakland and the Township Board
of the Township of such default and the amount thereof, and If
such default is not corrected within. ten (10) days after such
. notification, the County Treasurer or other county official charged
with disbursement to the Township of funds derived from the state
sales tax levy under- the provisions of Act. 167, Public Acts of
Michigan, 1933, as amended, and returnable to the Township pursuant
to Section 23, Article X, of the Michigan Constitution, is hereby
authorized by the Township to withhold sufficient funds derived .
from such sales tax levy and returnable to the Township as may be
needed to correct such default, and to pay said sums so withheld
to the County to apply on the obligation of the Township as herein
set forth. Any such moneys so withheld and paid shall be considered
- 12 -
to have been returned to the Township within the meaning of Section
23, Article X, of the Michigan Constitution, the sole purpose of
this provision being voluntarily to authorize the use of such
funds to meet past due obligations of the Township hereunder. In
addition to the foregoing, the County shall have all other rights
and remedies provided by law to enforce the obligation of the
Township to make payments in the manner and at the times required
by this contract.
10. The Township, pursuant to the authorization of
paragraph (2), Section 12, Act No. 185, Michigan Public Acts of
1957, as amended, does hereby pledge its full faith and credit for
the prompt and timely payment of its obligations expressed in this
contract and, subject to applicable constitutional tax limitations
and any lawful increases thereof, shall each year, commencing
with the year 1963, levy a tax in an amount which, taking into
consideration estimated delinquencies in tax collections, will be
suLticient to pay its obligations under this contract becoming
due before the time of the following year's tax collections:
PROVIDED, however, that if at the time of making its annual tax
levy, the Township shall have on hand in cash other funds which
have been set aside and pledged for the payment of such contractual
obligations falling due prior to the time of the next tax collections,
then the annual tax levy may be reduced by such amount. The
Township hereby covenants and agrees that it will raise such other
funds in the manner provided in said paragraph (2), Section 12,
Act No 135, or any amendments thereto, in amounts sufficient,
after payment of all expenses of operation, maintenance and repair
-
amounts of
>mpant
of the system, to pay such contractual obligations, that it will
set aside the same for such purpose, and that the funds so raised
are hereby pie or payment of said :1.-!.5:ations.
11. The County does hereby let and lease the said
system to the Tc7ip, and the Township does hereby hire said
system from the Cunty, for a term comcing simultaneously with
the transfer of the Water System No I to the County and ending
upon the expiration of this.contract, The operation, maintenance,
repair and manep7H, of the system shall be under the immediate
supervision and control of a qualified administrator approved by the
Board of Public Works and appointed by the Township Board. The
Town ,hall operate the system and shall maintain the same
condition and repair. The Board of Public Works shall
'm the right to LI -- , the system at any time and to require
tLa Township to make eii reasonabLe repair or replacements and
to do any further aeLs 3y tl , juc _t of the Board may be
reaFc , 1 necessary ir i'r to maintain the system in good condition
and repair. If the shall fail at 'line to make such
repairs and rep1ace e us and to take such acrion as may be required
by the Board, within a reasonable time after being notified by
the Board to do so, then. the Board shall have the right to perform
the necessary w=17 repairs and replacements,
and shall srse the County for the expense
thenJ. 30 day- aC,':e such ha: .c:en incurred.
will y,fldi'and. such
woul be carried by private
i.:-.u.yance shall
- 14 -
include sufficient liability insurance protecting the County
and the Township against loss on account of damage or injury
to persons or property imposed by reason of the ownership or
operation of the system or resulting from any act of omission
or commission on the part of the Township, its agents, officers,
or employees, in connection with the operation, maintenance or
repair of the system.
12. It is understood and agreed that the supply of
water for the system is to be procured and purchased by the
Township from the City of Detroit pursuant to a contract therefor
heretofore executed by said city and the Township under date of
January 14, 1963. The Township agrees to perform all of its
obligations under said contract. In the event of any actual
or threatened default of the Township under said contract, the
Board as agent for the Township may take such action as may be
required to prevent or cure such default, in order to assure
a continuous and adequate supply of water for the system, and in
any such case the Board shall be reimbursed by the Township for
all costs incurred in taking such action. The Township agrees
that, if it shall failto perform its obligations hereunder or
under its contract with the City of Detroit, the Board as an
alternative to any other remedies may take over and operate the
system as agent of the Township and that, in such event and for
such purpose, the County shall succeed to and is hereby assigned
all rights of the Township to receive a supply of water from the
City of Detroit pursuant to said contract dated January 14, 1963.
- 15 -
13. In order to rar. the necessary funds with which
to meet its obligations hereunder and under its contract with the
City of Detroit, and in performance of its agreement to raise
moneys other than by taxation for the making of the payments
herein required to be made to the County, the Township shall by
appropriate ordinance establish, maintain in effect and collect
such connection, meter, water consumption and debt service charges
as shall be necessary in order to provide revenues sufficient
for the operation, maintenance and repair of the system (including
as an operating expense the cost of water supplied by the City
of Detroit) and for the discharge of the obligations of the Town-
ship to the County as herein provided L All such revenues as
collected shall be set aside and paid into a fund to be established
and maintained by the Township and to be known as the 'Water System
Revenue Fund". The expenses of operation, maintenance and repair
of the system, including the cost of water furnished by the City
of Detroit, shall be paid from said fund. The Township Board
shall, not later than November 1 preceding the beginning of each
fiscal year, adopt a budget covering the foregoing expenses for
such year, and such expenses shall not exceed the amount specified
in said budget except by a vote of two-thirds of the members of
the Township Board declaring the necessity thereof, The system
shall be operated upon the basis of a fiscal year which begins
on April 1 of each year and ends on March 31 of the following
year,
- 16 -
14 Durrin the quarterly period ending March 31, 1964,
and during each quarterly period thetter, after setting aside
and retaining in said Water System Revenue Fund a sum sufficient
to provide for the payment for the next quarter of all cu
expenses of administration and operation of the system (including
the cost of water furnished by the City of Detroit) and such
current expenses for the maintenance and repair thereof as may
be necessary to preserve system iP •ood repair and working
order-, the remaining revenues in said fund shall be set aside and
transferred as follows:
(a) There shall first be set aside and transferred in
each quarter, into a fund to be established and maintained by the
Township and to be known as the "Water System Debt Retirement
Fund", a sum not less than one-half of the payment next required
to be made to the County, and if there shall be any deficiency
in the amount previously set aside for such purpose, then the
amount of the deficiency shall be added to the current requirement.
(b) There shall next be set aside and transferred in
each quarter, into a Reserve to be maintained in said Water System
'lL.:.tRetirement Fund for the purpose of making the payments herein
required to be made to the County, a sum not less than $2,000, until
such Reserve shall equal at least $100,000, and if at any time said
Reserve shall fall below $100,000, then there shall be so set aside
and transferred quarterly to said Reserve a sum sufficient to restore
the same to $100,000 at the earliest possible time The amount
remaining in said Reserve may finally be applied toward the last
- 1 7
payment or payments due to the County hereunder. No prepayment
shall be made to the County from said Reserve nor shall any pre7
payment be made unless the after making such prepayment,
Sy will have on hand in the Water. t..1.1 Debt Retircent Fund moneys
(other than reserve moneys) sufficient to he next due payment
to the County.
) There shall next be set aside and transferred in
each quarter, into a fund to be established and maintained by the
Township and to be known as the "Water System Replacement and Improve-
ment Fund' , a sum not less than $1.000, until such fund shall
equal at least $50,000, to build up a reserve for any replacements
or improvements to the system which may become necessary from time
to time.. In the event that moneys in the Water System Revenue
Fund are at any time insufficient to pro\ide for the currant
epenses of operation, maintenance and repair of the system, or in
the event that moneys in the Water System Debt Retirment Fund are
at any time insufficient to provide for the making of the payments
herein required to be made by the Township to the County, then
any moneys or securities in the Water System Replacement and
Improvement Fund shall be transferred, first, to the Water
Revenue Fund and, second, to the 'Water System Debt Retirement Fund,
to the extent of any deficits therein. Whenever moneys shall be
used from said Water System Replacement and Improvement Fund to
replacements OT improvements to the system or to make up
deficits in other funds, said fund shall be restored to the sum
of $50,000 as soon as possible thereafter .°
- -
ti in
fund at are one uch trefer. ..;.,.'eaU be made in the order
15,
Any and all revenues remaining in said Water System
Revenue Fund. at the close of any quarter, after setting aside all
amounts as above provided, shall be set aside and transferred to
the Reserve in the Water System Debt Retirement Fund until said
reserve equals $100,000 and thereafter to the Water System
Replae•ent and improve ,Tent Fund until said fund equals $50,000.
When sa'd Reserve and said fund have been fully established in
said amounts, thereafter any and all revenues remaining in said
Water System Revenue Fund, at the close of any quarter, after setting
aside all required ameenLt, shall be set aside and transferred
into a fund to be established end maintained by the Township and
be known as the "Water System Surplus Fund" Moneys in such
fund from time to time may he used to pre-pay the contractual
obligations of the Threeship to the County as provided herein
may, with the prior approval of the Board, be used for the repair,
improvement, enlargment or extension of the system: PROVIDED,
7, that if at any -' -here shall exist any default in
-d to be made to any
of the above-mentione( , then such default shall be rectified
,s•far as possible by the transfer of e-v- from said Water System
Surplus Fund, If any sue.h default shall celt as to more than one
In said funds are listed above°
the jurisdiction over any territory in
mariner inpair the obligations of this
Tn evsee e- lev part of the tetAeory of the Township
71orated as e. eity or is anre -,:e to or becomes a part of IS
the territory
such territory is incorpor
ibeipality, the municipality into which
e!'aieh FUCA territory is annexed,
- 19 -
shall assume its proper proportionate share of the contractual
obligation of the Township to the County, based upon a division in
the same ratio as the assessed valuation of the taxable property in
the territory so annexed or incorporated bears to the assessed
valuation of the taxable property in the remaining portion of the
Township from which said territory is taken.
16. The County and the Township each recognizes that the
holders from time to time of the bonds to be issued by the County
under the provisions of said Act 135, Michigan Public Acts of 1957,
as amended, and secured by the full faith and credit pledge of the
Township to the making of its payments as set forth in this contract
will have contractual rights in this contract, and it is therefore
covenanted and agreed by the parties hereto that so long as any of
said bonds shall remain outstanding and unpaid, the provisions of
this contract shall not be subject to any alteration or revision
which would in any manner reduce or impair either the security of
the bonds or the prompt payment of principal or interest thereon. The
Township and the County further covenant and agree that they will each
comply promptly with their respective duties and obligations under the
terms of this contract at the times and in the manner herein set forth,
arid will not suffer to be done any act which would in any way impair
the said bonds, the security therefor, or the prompt payment of
principal and interest thereon. It is hereby declared that the terms
of this agreement in so far as they pertain to the security of any
such bonds shall be deemed to be for the benefit of the holders of
said bonds.
- 20 -
17. This contract shall become effective upon it
approwl ,1,7 the Tchip Board of the Township, by the Board of
Public Works of Oakland_ County, and by the Board of Supervisors of
Oakland County, and when duly executed by the authorized officers
of the Township and of the County. This contract shall terminate
when all obligations of the Township hereunder are paid and dis-
charged in full but not later than forty (40) years from its date:
PROVIDED, however, that it shall, not be terminated at any time when
the Township is in default hereunder or at any time prior to the
payment in full of the principal of and interest on the County
bonds together with all paying agent fees and other charges pertaining
to said bonds. This contract may be executed in several counterparts.
The provisions of this contract shall be binding upon the successors
and assigns of the parties hereto.
IN WITNESS WHEREOF, the parties hereto have caused this
contract to be executed and delivered by their respective duly
authorized officers, all as of the day and year first above written.
COUNTY OF OAKLAND
By its Board of Public Works
By
Chairman
By
Secretary
TOWNSHIP OF BLOOMFIELD
By
upervisor
Township Clerk
21 -
MAP
iralm.44.0 BPABEB.P.B.EPERBI...ix.0
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LEGEND
EXISTING WAXER MAINS
ww....wwwnswss•PPROROSED FEEDER WATER MAINS
WATER MAINS PROPOSED
PRESSURE ZONE
[MISSING WELLS
PROPOSED ADDITIONS TO WATER SYSTEMS
TOWNSHIP OF BLOOMFIELD
WATER MAINS
/4'
EXHIBIT 'A"
CA'
CH./
'
.Y.An
MOE 'AF 01:0 'NC SALOONS
/ -1
•
1•,1
Lj
HOBBEL_, 00011 B CLARK, INC,
CONSULTING ENGINEERS
BIRMINGHAM MICHIGAN
March 1963
ESTIMATED COST
OAKLAND COUNTY WATER SUPPLY SYSTEM
FOR BLOOMFIELD TOWNSHIP
Construction Cost including Connection
to City of Bloomfield Hills $1, 589, 000. 00
Engineering 79, 450. 00
Inspection 31, 780. 00
Legal, Financial, Publishing, Printing,
Bond Delivery, Administration & Contingencies 124, 110. 00
Capitalized Interest - 9 Mos. @ 5% 79, 500. 00
Refund Outstanding Bonds 235, 000. 00
Premium on Outstanding Bonds, 11, 750. 00
TOTAL $2, 150, 590. 00
Funds to be Paid by City of Bloomfield Hills 30, 590. 00
Amount to be Financed from Sale of Bonds $2, 120, 000. 00
We hereby estimate the period of usefulness of the above project
to be 40 years and upwards.
Hubbell, Roth & Clark, Inc.
Consulting Engineers
EXHIBIT "B"
Mr, Webber s econd. Rehard
•n •!...)
4.)
S S
OF CO L
Daniel T; c„ Clerk of the County of Oakland, State
of -';.e.edings of the (
regular meetir -
y Svat2r, ia 51-,4p, with ti..,
ft 'is
12 1,doti7.1. of th foregoin9' resoliltion wa, d by
On roll call th by
Yeas:
Allerton, Alward, Archambault, Bachert, Beecher, Bloe, Bonner, Calhoun, Campbell,
James Carey, John Carey, Case, Charteris, Cheyz, Clarkson, Cummings, Davids,
Davis, Demute, Dohany, J. W. Duncan, WM. Duncan, Durbin -4i Edward, Edwards, Ewart,
Forbes, Fouts, Frid, Gabler, Goodspeed, Hagstrom, Hall, Hamlin, Heacock„ Horton,
Huber, Wallace Hudson, Hursfall, Ingraham, Jackson, Kennedy, Kephart, Knowles,
Lahti, Lessiter, Levinson, Love, Marshall, McAleer, McCartney, McGovern, Melehert,
Menzies, Miller, Mitchell, Moore, Noel, O'Donoghue, Oldenburg, Osgood, Rehard,
Remer, Scramlin„ Seeterlin, Semann, Slavens, Smith, Solley, Stephenson, Taylor,
Tiley, Tinsman, Veil, Webber, Wood, Yockey. (77)
None. (0)
Briekner, Cooley, Dewan, Hoard, Wm. Hudson, Levin, MacDonald, Potter. (8)
of Mirhigan, do hereb n/ crfy that I have compared the annexed copy
of Supc:'-s Laken at a
15th
Iç 1963, in re; Oakland County Water
record thereof
crcct trans-
of saiJ
1 ha.
at mic ,
my hand and affi>
tnis 15th day of April 1,963,