HomeMy WebLinkAboutResolutions - 1992.10.08 - 21271FINANCE COMMITTEE
I HERF_BY APPROVE THE FOREGOING RESOLUTION
/J-V6P. 161 T. fOurcifiy, Coithty Exeiutive
• October 8, 1992
MISCELLANEOUS RESOLUTION #92227
BY: FINANCE COMMITTEE, DR. G. WILLIAM CADDELL, CHAIRPERSON
IN RE: DRAIN COMMISSIONER- APPROPRIATION OF FUNDS TO DRAIN REVOLVING FUND FOR
WATER AND SEWAGE PROJECTS
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS several communities have asked the Drain Commissioner to do preliminary work on
Public Works projects such as water and sewage systems, and control of combined sewer overflow which
may lead to a construction project and issuance of bonds; and
WHEREAS current requests total $500,000 for such projects which would be paid back within two
years; and
WHEREAS $450,000 of funds in the General Fund - Designated Fund Balance for Operational
Improvement would be transferred to the Revolving Fund and be used for current and future projects; and
WHEREAS funding of $50,000 advanced for the City of Rochester Sewage Disposal System Project
from other sources would also be repaid to the Revolving Fund and therefore be available for use on future
projects; and
WHEREAS The transfer of funds from the General Fund will reduce the investment base thus
reducing interest revenue approximately $25,000 and the budget should be reduced to recognize this; and
WHEREAS the fund titled "Drain Commissioner Revolving Fund" would record activities for drains,
lake level controls (dam), lake improvements, water and sewage systems and combined sewer overflow
controls.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of Commissioners approves
the use of $475,000 from the General Fund - Designated Fund Balance for Operational Improvements and
amends the 1992 Adopted Budget as follows.
1992
GENERAL FUND REVENUE BUDGET
3-10100-909-01-00-9901 Sundry - Prior Years Revenues $475,000
3-101 00-906-01 -00-2233 Investment Income (25,000)
Total Revenue $450,000
GENERAL FUND EXPENDITURES
4-10100-901-01-00-8610 Transfer to the Drain Revolving Fund
Total Expenditures
$450,000
$450,000
Mr. Chairperson, on behalf of the Finance Committee, I move the adoption of the foregoing
resolution.
NANC\DRAIN\REVOLVIN.MR
- Resolution # 92227 October 8, 1992 .
Moved by Caddell supported by Ferrens the resolution be adopted.
Discussion followed.
AYES: Johnson, McCulloch, McPherson, Millard, Moffitt, Obrecht, Palmer,
Schmid, Skarritt, Wolf, Caddell, Crake, Ferrens, Gosling, Huntoon. (15)
NAYS: Jensen, Krause, McConnell, Oaks, Olsen, Pappageorge, Pernick,
Serra, Aaron. (9)
A sufficient majority having voted therefor, the resolution was adopted.
• STATE OF MICHIGAN)
COUNTY OF OAKLAND
I, Lynn 0. Allen, 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 October 8, 1992
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 8th day of-) October „A 19_9 g -
Lyn/. Allen, County Clerk