HomeMy WebLinkAboutResolutions - 2013.03.21 - 20750MISCELLANEOUS RESOLUTION #13067
BY: PLANNING AND BUILDING COMMITTEE, JIM RUNESTAD, CHAIRPERSON
IN RE: PLANNING AND ECONOMIC DEVELOPMENT SERVICES DIVISION RESOLUTION
APPROVING THE ISSUANCE OF REFUNDING BONDS (ACADEMY OF THE SACRED HEART PROJECT)
- BLOOMFIELD HILLS AND BLOOMFIELD TOWNSHIP
To Oakland County Board of Commissioners
Chairperson, Ladies and Gentlemen:
WHEREAS, The Economic Development Corporation of the County of Oakland
(the "EDC") has been requested by the Academy of the Sacred Heart (the
"Academy") to approve the issuance of refunding bonds (the "Bonds") to
refinance the bonds issued by the EDC in 2002 for the benefit of the Academy
(the "Prior Bonds") under the Economic Development Corporations Act (the
"Act"); and
WHEREAS, because the Bonds are proposed to include working capital and
costs of issuing the Bonds, the Internal Revenue Code of 1986, as amended,
requires that the Board of Commissioners (1) hold a public hearing on the
question of whether the Bonds should be issued and (2) following the public
hearing, approve the issuance of the Bonds; and
WHEREAS, the Board of Commissioners, following such public hearing,
hereby concurs in the determination of the EDC to issue the Bonds.
NOW THEREFORE BE IT RESOLVED, that the Oakland County Board of
Commissioners hereby approves the issuance of the Bonds, upon such terms and
conditions as the EDC and its bond counsel determine to be necessary and
appropriate under the circumstances.
BE IT FURTHER RESOLVED, that the County Clerk is hereby directed to
provide four certified copies of this resolution to the Assistant Secretary of
the Board of the EDC.
Chairperson, on behalf of the Planning and Building Committee, I move
the adoption of the foregoing resolution.
PLANNING AND BUILDING COMMITTEE
Resolution #13067 March 21, 2013
Moved by Hoffman supported by McGillivray the resolutions (with fiscal notes attached) on the amended
Consent Agenda be adopted (with accompanying reports being accepted).
AYES: Dwyer, Gershenson, Gingen, Gosselin, Hatchett, Hoffman, Jackson, Long, Matis,
McGillivray, Middleton, Quarles, Runestad, Scott, Spisz, Taub, Weipert, Woodward, Zack, Bosnic,
Crawford. (21)
NAYS: None. (0)
A sufficient majority having voted in favor, the resolutions (with fiscal notes attached) on the amended
Consent Agenda were adopted (with accompanying reports being accepted).
.'ne APPROVE THIS RESOLUTION
CH LY:PUTY COUNTY EXECUTIVE
AnTIN " NT TO MCL 45,559A (7)
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lisa Brown, Clerk of the County of Oakland, do hereby certify that the foregoing resolution is a true and
accurate copy of a resolution adopted by the Oakland County Board of Commissioners on March 21,
2013, with the original record thereof now remaining in my office.
In Testimony Whereof, I have hereunto set my hand and affixed the seal of the County of Oakland at
Pontiac, Michigan this 21 st day of March, 2013,
Lisa Brown, Oakland County