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HomeMy WebLinkAboutResolutions - 1996.08.29 - 24676Miscellaneous Resolution #96195 August 29, 1996 BY; PLANNING & BUILDING COMMITTEE, CHARLES E. PALMER, CHAIRPERSON IN RE: DRAIN COMMISSIONER -- RESOLUTION TO AUTHORIZE THE ISSUANCE OF OAKLAND COUNTY SEWAGE DISPOSAL SYSTEM (WHITE LAKE TOWNSHIP) BONDS, SERIES 1996A TO; THE OAKLAND COUNTY BOARD OF COMMISSIONERS Mr. Chairperson, Ladies and Gentlemen: WHEREAS, the County of Oakland (the "County") and the Charter Township of White Lake (the "Township") have entered into the Oakland County Sewage Disposal System (White Lake Township Extensions -- Union Lake Road Improvements) Contract dated as of August 1, 1992 (the "Contract"), pursuant to the provisions of Act No. 342, Public Acts of Michigan, 1939, as amended ("Act 342"); and WHEREAS, the Contract provides for the issuance of bonds in one or more series by the County to defray all or part of the cost of the sewage disposal improvements to the Oakland County Sewage Disposal System (White Lake Township Extensions -- Union Lake Road Improvements) as described in the Contract (the "Project"), said bonds to be secured by the contractual obligation of the Township to pay to the County amounts sufficient to pay the principal of and interest on the bonds and to pay such paying agent fees and other expenses as may be incurred on account of the bonds; and WHEREAS, on July 27, 1995, the County issued its Oakland County Sewage Disposal System (White Lake Township) Bonds, Series 1995A in the aggregate principal amount of $725,000 to defray part of the cost of the Project; and WHEREAS, it is in the best interest of the County of Oakland that a second series of bonds be issued to defray part of the cost of the Project in a negotiated sale to the Michigan Municipal Bond Authority (the "Authority") in order to enable the Authority to provide assistance from the State Water Pollution Control Revolving Fund. THEREFORE, BE IT RESOLVED by the Board of Commissioners of Oakland County, Michigan, as follows: 1. AUTHORIZATION OF BONDS -- PURPOSE. Bonds of the County aggregating the principal sum of not to exceed Nine Million Three Hundred Fifty Thousand Dollars ($9,350,000) shall be issued and sold pursuant to the provisions of Act 342, and other applicable statutory provisions, for the purpose of defraying part of the cost of acquiring and constructing the Project. 2. BOND DETAILS. The bonds shall be designated "Oakland County Sewage Disposal System (White Lake Township) Bonds, Series 1996A"; shall be dated as of such date as shall be approved by the County Drain Commissioner, as County Agency (the "Drain Commissioner") at the time of sale; shall be numbered from 1 upwards; shall be fully registered; shall be in the denomination of $5,000 each or any integral multiple thereof not exceeding the aggregate principal amount for each maturity at the option of the bondholder (provided, however, that so long as the bonds are registered in the name of the Authority, the bonds may be in the form of a single bond in the denomination of $9,350,000 or such lower amount as shall be approved by the Drain Commissioner, with an exhibit attached thereto which identifies the annual maturities for the bonds, and the references herein to "bonds" shall mean that single bond registered in the name of the Authority); shall bear interest at the rate of 2.25% per annum from the date of delivery of the various principal installments as hereinafter described, payable on such dates as shall be determined by the Drain Commissioner at the time of sale; and shall mature on such dates and in such years as shall be determined by the Drain Commissioner at the time of sale. The bonds are expected to be delivered to the Authority as the initial purchaser thereof in installments (the "Installments") equal to the amounts advanced from time to time by the Authority to the County pursuant to the Purchase Contract and the Supplemental Agreement (each as hereinafter defined). 3. PAYMENT OF PRINCIPAL AND INTEREST. The principal of and interest on the bonds shall be payable in lawful money of the United States. So long as the bonds are registered in the name of the Authority, the bonds shall be payable as to principal, redemption premium, if any, and interest at the corporate trust office of NBD Bank, Detroit, Michigan, or at such other place as shall be designated in writing to the County by the Authority (the "Authority's Depository"). So long as the Authority is the owner of the bonds, the County agrees that it will deposit with the Authority's Depository payments of the principal of, premium, if any, and interest on the bonds in immediately available funds at least five business days prior to the date on which any such payment is due, whether by maturity, redemption or otherwise. If the bonds are not registered in the name of the Authority, the principal of and premium, if any, on the bonds shall be payable upon surrender thereof at the office of the bond registrar and paying agent and the interest shall be payable by check or draft mailed by the bond registrar and paying agent to the registered owner of the bonds at the address appearing on the registration books of the County kept by the bond registrar and paying agent as of the 15th day of the month preceding the month in which an interest payment is due. 4. PRIOR REDEMPTION. The bonds shall be subject to redemption prior to maturity upon the terms and conditions set forth in the form of bond contained in Section 8 hereof. 5. BOND REGISTRAR AND PAYING AGENT. Until a successor is appointed by the Board of Commissioners, the County Treasurer shall act as bond registrar and paying agent for the bonds. 6. EXECUTION, AUTHENTICATION AND DELIVERY OF BONDS. The bonds shall be executed in the name of the County by the facsimile signatures of the Chairman of the Board of Commissioners and the County Clerk and authenticated by the manual signature of an authorized representative of the bond registrar and paying agent, and the seal of the County (or a facsimile thereof) shall be impressed or imprinted on the bonds. After the bonds have been executed and authenticated for delivery to the original purchaser thereof, they shall be delivered - 2 - by the County Treasurer to the purchaser upon receipt of the purchase price. Additional bonds bearing the facsimile signatures of the Chairman of the Board of Commissioners and the County Clerk and upon which the seal of the County (or a facsimile thereof) is impressed or imprinted may be delivered to the bond registrar and paying agent for authentication and delivery in connection with the exchange or transfer of bonds. The bond registrar and paying agent shall indicate on each bond the date of its authentication. 7. EXCHANGE AND TRANSFER OF BONDS. Any bond, upon surrender thereof to the bond registrar and paying agent with a written instrument of transfer satisfactory to the bond registrar and paying agent duly executed by the registered owner or his duly authorized attorney, at the option of the registered owner thereof, may be exchanged for bonds of any other authorized denominations of the same aggregate principal amount and maturity date and bearing the same rate of interest as the surrendered bond. Each bond shall be transferable only upon the books of the County, which shall be kept for that purpose by the bond registrar and paying agent, upon surrender of such bond together with a written instrument of transfer satisfactory to the bond registrar and paying agent duly executed by the registered owner or his duly authorized attorney. Upon the exchange or transfer of any bond, the bond registrar and paying agent on behalf of the County shall cancel the surrendered bond and shall authenticate and deliver to the transferee a new bond or bonds of any authorized denomination of the same aggregate principal amount and maturity date and bearing the same rate of interest as the surrendered bond. If, at the time the bond registrar and paying agent authenticates and delivers a new bond pursuant to this section, payment of interest on the bonds is in default, the bond registrar and paying agent shall endorse upon the new bond the following: "Payment of interest on this bond is in default. The last date to which interest has been paid is The County and the bond registrar and paying agent may deem and treat the person in whose name any bond shall be registered upon the books of the County as the absolute owner of such bond, whether such bond shall be overdue or not, for the purpose of receiving payment of the principal of and interest on such bond and for all other purposes, and all payments made to any such registered owner, or upon his order, in accordance with the provisions of Section 3 of this resolution shall be valid and effectual to satisfy and discharge the liability upon such bond to the extent of the sum or sums so paid, and neither the County nor the bond registrar and paying agent shall be affected by any notice to the contrary. The County agrees to indemnify and save the bond registrar and paying agent harmless from and against any and all loss, cost, charge, expense, judgment or liability incurred by it, acting in good faith and without negligence hereunder, in so treating such registered owner. For every exchange or transfer of bonds, the County or the bond registrar and paying agent may make a charge sufficient to reimburse it for any tax, fee or other governmental charge required to be paid with respect to such exchange or transfer, which sum or sums shall be paid by the person requesting such exchange or transfer as a condition precedent to the exercise of the privilege of making such exchange or transfer. The bond registrar and paying agent shall not be required to transfer or exchange bonds or portions of bonds that have been selected for redemption. 8. FORM OF BONDS. The bonds shall be in substantially the following form: UNITED STATES OF AMERICA STATE OF MICHIGAN COUNTY OF OAKLAND OAKLAND COUNTY SEWAGE DISPOSAL SYSTEM (WHITE LAKE TOWNSHIP) BOND, SERIES 1996A INTEREST RATE MATURITY DATE DATE OF ORIGINAL ISSUE 2.25% See Exhibit A Registered Owner: Michigan Municipal Bond Authority Principal Amount; The County of Oakland, State of Michigan (the "County"), acknowledges itself indebted to and for value received hereby promises to pay to the Registered Owner identified above, or registered assigns, the Principal Amount set forth above or so much thereof as shall have been advanced to the County pursuant to a Purchase Contract between the County and the Michigan Municipal Bond Authority (the "Authority") and a Supplemental Agreement by and among the County, the Authority and the State of Michigan acting through the Department of Natural Resources on the maturity dates and in the amounts set forth on Exhibit A attached hereto unless redeemed prior thereto as hereinafter provided, the final payment being made upon presentation and surrender of this bond at the office of the Oakland County Treasurer in the City of Pontiac, Michigan, the bond registrar and paying agent, or at such successor bond registrar and paying agent as may be designated pursuant to the Resolution identified below; and to pay to the Registered Owner, as shown on the registration books at the close of business on the 15th day of the calendar month preceding the month in which an interest payment is due, by check or draft drawn upon and mailed by the bond registrar and paying agent by first class mail postage prepaid to the Registered Owner at the registered address, interest at the rate per annum specified above on such Principal Amount, to the extent advanced to the County pursuant to the Purchase Contract and the Supplemental Agreement until the County's obligation with respect to the payment of such Principal Amount is discharged. Interest is payable on the first days of and in each year, commencing on , 199_. Principal and interest are payable in lawful money of the United States of America. In the event of a default in the payment of principal or interest hereon when due, whether at maturity, by redemption or otherwise, the amount of such default shall bear interest (the "additional interest") at a rate equal to the rate of interest which is two percent above the Authority's cost of providing funds (as determined by the Authority) to make payment on the bonds of the Authority issued to provide funds to purchase this bond but in no event in excess of the maximum rate of interest permitted by law. The additional interest shall continue to accrue until the Authority has been fully reimbursed for all costs incurred by the Authority (as determined by the Authority) as a consequence of the County's default. Such additional interest shall be payable on the interest payment date following demand of the Authority. In the event that (for reasons other than the default in the payment of any municipal obligation purchased by the - 4 - Authority) the investment of amounts in the reserve account established by the Authority for the bonds of the Authority issued to provide funds to purchase this bond fails to provide sufficient available funds (together with any other funds which may be made available for such purpose) to pay the interest on outstanding bonds of the Authority issued to fund such account, the County shall and hereby agrees to pay on demand only the County's pro rata share (as determined by the Authority) of such deficiency as additional interest on this bond. During the time funds are being drawn down by the County under this Bond, the Authority periodically will provide the County a statement showing the amount of principal that has been advanced and the date of each advance, which statement shall constitute prima facie evidence of the reported information; provided that no failure on the part of the Authority to provide such a statement or to reflect a disbursement or the correct amount of a disbursement shall relieve the County of its obligation to repay the outstanding principal amount actually advanced, all accrued interest thereon, and any other amount payable with respect thereto in accordance with the terms of this Bond. This bond is one of a series of bonds aggregating the principal sum of Dollars ($ ) issued by the County under and pursuant to and in full conformity with the Constitution and Statutes of Michigan (especially Act No. 342, Public Acts of 1939, as amended) and a bond authorizing resolution adopted by the Board of Commissioners of the County (the "Resolution") for the purpose of defraying part of the cost of acquiring, constructing and financing the Oakland County Sewage Disposal System (White Lake Township Extensions -- Union Lake Road Improvements) (the "Project"). The bonds of this series are issued in anticipation of payments to be made by the Charter Township of White Lake (the "Township") in the aggregate principal amount of Dollars ($ ) pursuant to a contract between the County and the Township dated as of August 1, 1992 (the "Contract"). The full faith and credit of the Township have been pledged to the prompt payment of the principal amount of the bonds of this series and the interest thereon as the same become due. As additional security the full faith and credit of the County have been pledged for the prompt payment of the principal of and interest on the bonds of this series. Taxes levied by the County and the Township to pay the principal of and interest on the bonds of this series are subject to constitutional tax limitations. This bond is transferable, as provided in the Resolution, only upon the books of the County kept for that purpose by the bond registrar and paying agent, upon the surrender of this bond together with a written instrument of transfer satisfactory to the bond registrar and paying agent duly executed by the registered owner or his attorney duly authorized in writing. Upon the exchange or transfer of this bond a new bond or bonds of any authorized denomination, in the same aggregate principal amount and of the same interest rate and maturity, shall be authenticated and delivered to the transferee in exchange therefor as provided in the Resolution, and upon payment of the charges, if any, therein provided. Bonds so authenticated and delivered shall be in the denomination of $5,000 or any integral multiple thereof not exceeding the aggregate principal amount for each maturity. The bond registrar and paying agent shall not be required to transfer or exchange bonds or portions of bonds that have been selected for redemption. This bond is subject to redemption prior to maturity at the option of the County and with the prior written consent of the Authority, in such order as shall be determined by the County, on any one or more interest payment dates. This bond may be partially redeemed in the amount of By: And: $5,000 or any integral multiple thereof. If less than the entire principal amount of the bond maturing in any year is to be redeemed, the portion of the bond to be redeemed shall be selected by lot. The redemption price shall be the par value of the bond or portion of the bond called to be redeemed plus interest to the date fixed for redemption. Not less than thirty days' notice of redemption shall be given to the holder of the bond called to be redeemed by mail to the registered holder at the registered address. That portion of the bond called for redemption shall not bear interest after the date fixed for redemption, provided funds are on hand with the bond registrar and paying agent to redeem the same. Notwithstanding any other provision of this bond, so long as the Authority is the owner of this bond, (a) this bond is payable as to principal, premium, if any, and interest at the corporate trust office of NBD Bank, Detroit, Michigan, or at such other place as shall be designated in writing to the County by the Authority (the "Authority's Depository"); (b) the County agrees that it will deposit with the Authority's Depository payments of the principal of, premium, if any, and interest on this bond in immediately available funds at least five business days prior to the date on which any such payment is due whether by maturity, redemption or otherwise; and (c) written notice of any redemption of this bond shall be given by the County and received by the Authority's Depository at least 40 days prior to the date on which redemption is to be made. It is hereby certified, recited and declared that all acts, conditions and things required to exist, happen and be performed precedent to and in the issuance of the bonds of this series, existed, have happened and have been performed in due time, form and manner as required by law, and that the total indebtedness of said County, including the series of bonds of which this bond is one, does not exceed any constitutional or statutory limitation. IN WITNESS WHEREOF, the County of Oakland, Michigan, by its Board of Commissioners, has caused this bond to be executed in its name by facsimile signatures of the Chairman of the Board of Commissioners and the County Clerk and its corporate seal (or a facsimile thereof) to be impressed or imprinted hereon. This bond shall not be valid unless the Certificate of Authentication has been manually executed by an authorized representative of the bond registrar and paying agent. COUNTY OF OAKLAND (SEAL) Chairman, Board Of Commissioners County Clerk 6 CERTIFICATE OF AUTHENTICATION This bond is one of the bonds described in the within mentioned Resolution. Treasurer, County of Oakland Bond Registrar and Paying Agent AUTHENTICATION DATE: ASSIGNMENT For value received, the undersigned hereby sells, assigns and transfers unto (please print or type name, address and taxpayer identification number of transferee) the within bond and all rights thereunder and does hereby irrevocably constitute and appoint attorney to transfer the within bond on the books kept for registration thereof, with full power of substitution in the premises. Dated: Signature Guaranteed Signature(s) must be guaranteed by an eligible guarantor institution participating in a Securities Transfer Association recognized signature guarantee program. 8 EXHIBIT A The principal amounts and maturity dates applicable to the bond to which this Exhibit A is attached are as follows: [END OF BOND FORM] 9. SECURITY. The bonds shall be issued in anticipation of payments to be made by the Township pursuant to the Contract. The bonds shall be secured primarily by the full faith and credit pledge made by the Township in the Contract pursuant to the authorization contained in Act 342. As additional and secondary security the full faith and credit of the Township are pledged for the prompt payment of the principal of and interest on the bonds as the same shall become due. If the Township shall fail to make payments to the County that are sufficient to pay the principal of and interest on the bonds as the same shall become due, an amount sufficient to pay the deficiency shall be advanced from the general fund of the County. 10. DEFEASANCE. In the event cash or direct obligations of the United States or obligations the principal of and interest on which are guaranteed by the United States, or a combination thereof, the principal of and interest on which, without reinvestment, come due at times and in amounts sufficient to pay, at maturity or irrevocable call for earlier optional redemption, the principal of, premium if any, and interest on the bonds, shall have been deposited in trust, this resolution shall be defeased and the owners of the bonds shall have no further rights under this resolution except to receive payment of the principal of, premium if any, and interest on the bonds from the cash or securities deposited in trust and the interest and gains thereon and to transfer and exchange bonds as provided herein. 11. 1 : itkb I h. 'ITALIZ _D . There shall be established for the bonds a Principal and Interest Fund that shall be kept in a separate bank account. From the proceeds of the sale of the bonds there shall be set aside in the Principal and Interest Fund any premium and accrued interest received from the purchaser of the bonds at the time of delivery of the same plus an amount that is sufficient to provide payment of interest on the bonds through April 1, 1998, which interest is hereby capitalized. All payments received from the Township pursuant to the Contract are pledged for payment of the principal of and interest on the bonds and expenses incidental thereto and as received shall be placed in the Principal and Interest Fund. 12. CONSTRUCTION FUND. The remainder of the proceeds of the sale of the bonds shall be set aside in a construction fund and used to acquire and construct the Project in accordance with the provisions of the Contract. 13. REPLACEMENT OF BONDS. Upon receipt by the County Treasurer of proof of ownership of an unmatured bond, of satisfactory evidence that the bond has been lost, apparently destroyed or wrongfully taken and of security or indemnity that complies with applicable law and is satisfactory to the County Treasurer, the County Treasurer may authorize the bond registrar and paying agent to deliver a new executed bond to replace the bond lost, apparently destroyed or wrongfully taken in compliance with applicable law. In the event an outstanding matured bond is lost, apparently destroyed or wrongfully taken, the County Treasurer may authorize the bond registrar and paying agent to pay the bond without presentation upon the receipt of the same documentation required for the delivery of a replacement bond. The bond registrar and paying agent, for each new bond delivered or paid without presentation as provided above, shall require the payment of expenses, including counsel fees, which may be incurred by the bond registrar and paying agent and the County in the premises. Any bond delivered pursuant the provisions of this Section 13 in lieu of any bond lost, apparently destroyed or wrongfully taken shall be of the same form and tenor and be secured in the same manner as the bond in substitution for which such bond was delivered. 14. ESTIMATE OF PERIOD OF USEFULNESS AND COST. The estimated period of usefulness of the Project is determined to be forty (40) years and upwards. The estimated cost of the project in the amount of $10,075,000 is approved and adopted. 15. APPROVAL OF MICHIGAN DEPARTMENT OF TREASURY -- EXCEPTION FROM PRIOR APPROVAL. The issuance and sale of the bonds shall be subject to permission being granted therefor by the Department of Treasury of the State of Michigan or an exception from prior approval being granted by the Department of Treasury and the Drain Commissioner and the County Treasurer are each hereby severally authorized to file with the Department of Treasury a Notice of Intent to Issue an Obligation with respect to the bonds and to pay, upon the filing of said notice, the filing fee of $400. If an exception from prior approval is not granted the Drain Commissioner or the County Treasurer shall make application to the Department of Treasury for permission to issue and sell the bonds as provided by the terms of this resolution and for approval of the form of Notice of Sale. The Drain Commissioner and the County Treasurer are each severally authorized to apply for such waivers from the Michigan Department of Treasury as the Drain Commissioner or the County Treasurer deems appropriate in connection with the sale of the bonds. 16. SALE, ISSUANCE, DELIVERY, TRANSFER AND EXCHANGE OF BONDS. The Board of Commissioners hereby determines that the bonds shall be sold at a private, negotiated sale to the Authority. The sale shall be made pursuant to the terms and conditions to be set forth in a Purchase Contract (the "Purchase Contract") and a Supplemental Agreement (the "Supplemental Agreement") and the Drain Commissioner (or in his absence the Chief Deputy Drain Commissioner) is authorized to determine the principal amount of bonds to be sold and to execute and deliver the Purchase Contract and the Supplemental Agreement in such form as shall be approved by the Drain Commissioner or the Chief Deputy Drain Commissioner at the time of sale. In addition, the Drain Commissioner and other County employees and officials are authorized to execute and deliver to the Authority such certificates or documents as the Authority or bond counsel shall require and to do all other things necessary to effectuate the sale, issuance, delivery, transfer and exchange of the bonds in accordance with the provisions of this resolution. 17. TAX COVENANT. The County covenants to comply with all requirements of the Internal Revenue Code of 1986, as amended, necessary to assure that the interest on the bonds will be and will remain excludable from gross income for federal income tax purposes. The Drain Commissioner and other appropriate County officials are authorized to do all things necessary (including the making of covenants of the County) to assure that the interest on the bonds will be and will remain excludable from gross income for federal income tax purposes. 18. EXTENSION OF CONTRACT. The date on which the Contract shall become void if bonds have not been issued as set forth in Section 12 thereof is hereby extended to December 1, 1996. 19. AMENDMENTS. The Drain Commissioner is authorized to amend this resolution to the extent necessary to comply with any requirements of the Authority for the purchase of the bonds. 20. CONFLICTING RESOLUTIONS. All resolutions and parts of resolutions insofar as they may be in conflict herewith are rescinded. Mr. Chairperson, on behalf of the Planning and Building Committee, I move the adoption of the foregoing resolution. PLANNINGAND BUTLDING COMMITTEE PMW/09007/02811AP212 - 12 - FISCAL NOTE (M.R. # 96195 BY: FINANCE AND PERSONNEL COMMITTEE, SUE ANN DOUGLAS, CHAIRPERSON IN RE: DRAIN COMMISSIONER - RESOLUTION TO AUTHORIZE THE ISSUANCE OF OAKLAND COUNTY SEWAGE DISPOSAL SYSTEM (WHITE LAKE TOWNSHIP) BONDS, SERIES 1996A TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS Chairperson, Ladies and Gentlemen: Pursuant to Rule XII-F of this Board, the Finance and Personnel Committee has reviewed the above referenced resolution and finds: 1) Pursuant to the provisions of PA 342 of 1939, the County of Oakland and the Charter Township of White Lake have entered into the Oakland County Sewage Disposal System (White Lake Township Extensions - Union Lake Road Improvements) Contract dated August 1,1992. 2) The contract provides for the issuance of bonds in one or more series by the County to defray the cost of the subject sewage disposal improvements, said bonds to be secured by the contractual obligation of the Township to pay the County amounts sufficient to pay bond principal and interest, as well as paying agent fees and other related expenses. 3) On July 27, 1995, the County issued Series 1995A Bonds in the amount of $725,000 to defray part of the cost of the project. 4) The subject resolution authorizes the issuance of Series 1996A Bonds with the County pledging full faith and credit with the Charter Township of White Lake as the primary obligor. 5) The principal amount of the bond issue shall not exceed $10,075,000 at an interest rate of 2.25% to be repaid within 20 years. 6) The bond issue will be through the Michigan Municipal Bond Authority, State Revolving Fund Program. 7) The statutory limit for County debt is $3,574,495,398 (10% of 1996 State Equalized Value). As of July 31, 1996, the outstanding debt is $325,302,909 or approximately 0.9% of S.E.V. FINANCE AND PERSONNEL COMMITTEE t). Allen, County Clerk f 11 Resolution #96195 August 29, 1996 Moved by Palmer supported by Obrecht the resolution be adopted. AYES: Holbert, Huntoon, Jacobs, Jensen, Johnson, Kaczmar, Kingzett, Law, McCulloch, McPherson, Moffitt, Obrecht, Palmer, Pernick, Powers, Schmid, Taub, Wolf, Amos, Crake, Devine, Dingeldey, Douglas, Garfield. (24) 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 August 29, 1996 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 29th day of August 1996.