HomeMy WebLinkAboutResolutions - 1994.02.10 - 24061. February 10, 1994.
MISCELLANEOUS RESOLUTION 194009
BY: FINANCE COMMITTEE, JOHN P. MCCULLOCH, CHAIRPERSON
IN RE: DEPARTMENT OF COMPUTER SERVICES - APPROVAL OF INVENTORY
POOL FOR AUTOMATION EQUIPMENT
To the Oakland County Board of Commissioners
Chairperson, Ladies and Gentlemen:
WHEREAS Computer Services is requesting an inventory of
approximately 120 personal computers, 42 notebooks, and 88 printers
to speed the delivery process to users as requests are approved by
the Finance Committee; and
WHEREAS Computer Services will obtain Finance Committee
approval prior to installing any of the equipment in the user
departments and will bring a resolution for approval by the full
Board of Commissioners on a quarterly basis summarizing the
appropriate budget amendments in the Computer Services and user
departments' budgets; and
WHEREAS Computer Services estimates the initial costs to be
$595,948 for capital and $114,692 for start-up expenses,; and
WHEREAS the annual operating cost is estimated to be $111,740
for 1994 and $232,786 for 1995, which includes maintenance and
depreciation expense; and
WHEREAS a loan is requested from the Delinquent Tax Revolving
Fund (DTRF) in the amount of $595,948 for the capital investment to
be repaid over a five-year period; and
WHEREAS interest expense is estimated to be $22,596 for 1994
and $20,362 for 1995.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of
Commissioners authorizes the Chairperson of the Board to execute
the attached Borrowing Agreement in the amount of $595,948 with the
County Treasurer as agent of the DTRF.
BE IT FURTHER RESOLVED that principal and interest payments
made to the DTRF in repayment of this agreement will be accounted
for in the Computer Services Operations Fund, fund #63600.
BE IT FURTHER RESOLVED that the 1994/95 Biennial Budget is
amended as follows to appropriate the interest expense:
1994 1995
General Fund (10100)
Expenditures
10100-909-01-00-9920 Office Automation $(22,596) $(20,362)
10100-181-01-00-6360 Computer Services 22,596 20,362
TOTAL $ 0 $ 0
Computer Services Fund (63600)
Revenue
181-01-00-2037 Gov't. Operations $ 22,596 $ 20,362
Expense
184-01-00-3418 Interest Expense $ 22,596 $ 20,362
TOTAL $ 0 $ 0
Chairperson, on behalf of the Finance Committee, I move the
adoption of the foregoing resolution.
,
. . -
REVOLVING FUND BORROWING AGREEMENT
WHEREAS the County of Oakland is desirous of borrowing monies
from the Oakland County Delinquent Tax Revolving Fund, and
WHEREAS the Delinquent Tax Revolving Fund Agent has determined
sufficient monies are available to loan to the County,
THEREFORE, in consideration of agreements setforth below it is
hereby agreed by and between the parties as follows:
The County will borrow the principal sum of $595,948 from the
Delinquent Tax Revolving Fund to be paid back in annual
principal and interest payments not to exceed five (5) years.
Said payments shall be deducted from the annual Revolving Fund
distribution made to the County on or about June 1st of each
year. Interest on each payment will be based on the average
monthly rate paid during the term of this agreement by the
agent of the Delinquent Tax Revolving Fund for that year's
outstanding borrowing. The schedule of principal payments
will be:
Year Principal
1 $ 119,190
2 119,190
3 119,190
4 119,190
5 119,188
Total $ 595,948
It is further agreed that the County may pay off the loan at
any time plus accrued interest without penalty.
Agent for Revolving Fund Chairperson
Board of Commissioners
• -"
Resolution #94009 February 10, 1994
Moved by McCulloch supported by Dingeldey the resolution be adopted.
AYES: Douglas, Garfield, Gosling, Huntoon, Jensen, Johnson, Kaczmar, Kingzett,
Law, McCulloch, McPherson, Miltner, Moffitt, Oaks, Obrecht, Palmer, Pernick,
Powers, Price, Schmid, Taub, Wolf, Aaron, Crake, Dingeldey. (25)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lynn D. 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 February 10, 1994 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 10th day oplebruary 1994.
/17.41,
Lynft D. Allen, Coudt-Y