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HomeMy WebLinkAboutResolutions - 1964.06.22 - 20420June 22, 1964 RESOLUTION #433Y BY: WAYS AND MEANS COMMITTEE and DRAIN COMMITTEE RE: SHARKEY DRAINS TO TW7. OAKLAND COUNTY BOARD OF SUPERVISORS Mr. Chairman, Ladies and Gentlemen: WHEREAS, proceedings have been taken by the Inter-County Drainage Board for the location, establishment and construction of the Sharkey Relief Drains under the provisions of Chapter 21 of Act No. 40 of the Public Acts of Michigan of 1956, as amended, pursuant to a petition filed by the City of Warren in Macomb County and the City of Madison Heights in Oakland County on November 16, 1961; and WHEREAS, the said Drainage Board for the Sharkey Relief Drains by resolution adopted or March 11, 1964, authorized and provided for the issuance of bonds in the aggregate principal amount of 81,460,000 in anticipation cf the collection of an equal amount of special assessments against the City of Warren in Macomb County and the City of Madison Heights and the County of Oakland in Oakland County as the share of each such public corporation in 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 Sharkey Relief Drains Bonds, are to be dated April 1, 1964, will bear interest at a rate net exceeding 5%, and will be subject to prior redemption at times and prices specified in the said resolution of said Drainage Board authorizing their issuance; and WHEREAS, Section 526 of Chapter 21 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 this chapter and the beard of supervisors has previously acted, by a resolution adopted by a 2/3 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 any other evidence of indebtedness have been Issued to finance a pro- ject, 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 neces- sary to obtain from this Board a resolution consenting to the pledge of the full faith and credit of Oakland County on the share of the aforesaid bonds issued in anticipation of assessments against the City of Madison Heights and teeGounty of Oakland; and WHEREAS, the said drainage project is immediately neces- sary 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, TBRREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE COUNTY OF OAKLAND, MICHIGAN: 1. That pursuant to the authorization provided in Section 526 of Chapter 21 of the Drain Code, the Board of Supervisors of the County of Oakland does hereby irrevocably pledge and agree that In the event either the City of Madison Heights or the County of Oakland fails or neglects to account to the County Treasurer of the County of Oakland for the amount of any installment and interest for the Sharkey 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. g .John L. Carey 2. That in the event that, pursuant to said advancement pledge, 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 actions and proceedings and pursue all remedies permitted or authorized by law for 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. MR. CHAIRMAN, on behalf of the Ways and Means Committee and the Drain Committee, I move the adoption of the foregoing resolution. WAYS AND MEANS COMMITTRP. "•57-7 aTamie.-71----.neen,Wman DRAIN COMMITTEE ' purt0.2 l'artel-7 rilr—man James Clarkston Harry W. Horton i , William K. SMith -- (2/ /)// / / ------ r ,, . ,„1(4_, /.,/ / / , , 7 Frank J. Vel Sr. Howard 0, Powers /7--.• (-1 -7'-" n--7 /. ' , c ,7 7--:--- / - /.._,/ ,-,-/ /:.---" Fred :L. Yockey / / ..---- / -- Joseph 777=7 , --- x 1,• , / , . ,. / fr.:•• •:., ',/ - - - "-----_-_, , / - - -4,....4 ' A'------' ' -K' ........,t-•• ., - , ----4 - k---- - „-•--z-l- - • .- .------,--- .. ,...s.=-:•;::..2:: • ::,.-,--z•,:--==,--,'r----:-._._ ......,,,.,..--- Thomas -'... O'Dpnog . Ile ("Lij___,41,-(„4 ---- --,,t. --1,----,-n • --..--' ,---L., ..' -1" ! . ; '.1.'":::-V2d.-,,±f/• Frank F. Webber: teonard Te C . CharIes B. t&ards, Jr. T. Duncan #4339 Moved by Levinson supported by Michrina the resolution be adopted. AYES: Allerton, Alward, Bachert, Bloc, Brewer, Campbell, James Carey, John Carey, Case, Charteris, Cheyz, Clarkson, Davids, Demute, Dewan, Dohany, J. W. Duncan, WM. Duncan, Durbin, Edwards, Forbes, Fouts, Goodspeed, Hagstrom, Hall, Hamlin, Heacock, Hudson, Hursfall, JUlian, Kennedy, Kephart, Knowles, Laurie, Lessiter, Levin, Levinson, Linley, Maier, Marshall, MeAvoy, McCartney, McGovern, Melchert, Mercer, Michrina, Miller, Mitchell, Moore, OtDonogbue, Oldenburg, Patnales, Perinoff, Potter, Potthoff, Powers, Rehard, Remer, Rhinevault, Simson, Slavens, Smith, Solley, Tapp, Terry, Tiley, Tinsman, Travis, Turner, Voll, Webber, Wood, Woods, Yockey. (74) NAYS: None. (0) A sufficient majority having voted therefor, the resolution was adopted.