HomeMy WebLinkAboutResolutions - 1995.06.08 - 24477MISCELLANEOUS RESOLUTION #95168 June 8, 1995
BY: FINANCE AND PERSONNEL COMMITTEE, JOHN P. MCCULLOCH, CHAIRPERSON
IN RE: APPROVAL OF LOAN FROM DELINQUENT TAX REVOLVING FUND FOR PURCHASE OF
MAINFRAME DIRECT ACCESS STORAGE DEVICE (DASD)
To the Oakland County Board of Commissioners
Chairperson, Ladies and Gentlemen:
WHEREAS the mainframe direct access storage device, hereafter referred
to as DASD, is necessary to store vital mainframe application data for many
Oakland County Departments; and
WHEREAS 24 hour operation is required to provide the necessary service
to the customers and interruptions of any magnitude are unacceptable; and
WHEREAS many components of this system have been in operation since 1987
with mechanical components which make them prone to failure and such failure
rate has increased significantly during 1994; and
WHEREAS DASD technology has drastically improved over the past several
years offering features such as Random Array of Independent Disks (RAID) and
mirrored systems designed to eliminate many of the interruption problems
currently experienced and affords significant power savings; and
WHEREAS a loan is requested from the Delinquent Tax Revolving Fund
(DTRF) in the amount of $805,000 for the initial equipment investment to be
repaid over a five-year period; and
WHEREAS annual operating costs are estimated to be $201,250 for
depreciation for the first two years and $238,870 for depreciation and
maintenance beginning in year three; and
WHEREAS interest expense is estimated to be $28,175 for 1995; and
WHEREAS funds for the annual operating costs and interest expense are
available in the non-departmental reserve account for office automation.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of
Commissioners approves the purchase and installation of a new DASD system
inclusive of the RAID and mirrored system features.
BE IT FURTHER RESOLVED that the Chairperson of the Board is authorized
to execute the attached Borrowing Agreement in the amount of $805,000 with the
County Treasurer as agent of the DTRF.
BE IT FURTHER RESOLVED that principal and interest made to the DTRF in
repayment of this agreement will be accounted for in the Information
Technology Operations Fund, fund #63600.
BE IT FURTHER RESOLVED that the 1994/95 Biennial Budget is amended as
follows:
1995
General Fund (10100)
Expenditures
903-01-00-9920 Office Automation
181-01-00-6360 Computer Services Operations
TOTAL
Information Technology Fund (63600)
Revenue
181-01-00-2037 Operations
Subtotal
$ (128,800)
128.800
5 128.800
5 128.800
Expense
186-01-00-3304 Depreciation $ 100,625
184-01-00-3418 Interest Expense 28,175
Subtotal 1 128.800
TOTAL 0
Chairperson, on behalf of the Finance and Personnel Committee, I move
the adoption of the foregoing resolution.
FINANCE AN] PERSONNEL COMMITTEE
principal
$ 161,000
161,000
161,000
161,000
161,000
S 805.000
Year
1
2
3
4
5
Total
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 $805,000 from the Delinquent
Tax Revolving Fund to be paid back in annual principal and interest
payments not to exceed five 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:
It is further agreed that the County may
plus accrued interest without penalty.
pay off the loan at any time
Agent for Revolving Fund Chairperson
Board of Commissioners
In Testimony Whereof, I have hereunto set my hand and affixed the seal of the
County of Oakland at Pontiac, Michigan this 8th day o(,,..Talne 15t5-,
(21111010EL...-
L). Allen, County Clerk
Resolution #95168 June 8, 1995
Moved by McCulloch supported by Amos the resolution be adopted.
AYES: Douglas, Garfield, Holbert, Huntoon, Jacobs, Jensen, Johnson,
Kaczmar, Kingzett, Law, McCulloch, McPherson, Moffitt, Obrecht, Palmer, Pernick,
Powers, Quarles, Schmid, Taub, Wolf, Amos, Crake, Devine, Dingeldey. (25)
NAYS: None. (3)
A Sufficient majority having voted therefor, the resolution was adopted.
1 HEREVAPPRy4E. FORECV:"k I SOLUTION
‘/YeA
L. Brooks Pet1011on, County Executive Date
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 June 8, 1995 with the original record
thereof now remaining in my office.