HomeMy WebLinkAboutResolutions - 1998.11.19 - 25478• •
November 19, 1998
MISCELLANEOUS RESOLUTION #98290
BY: PLANNING AND BUILDING COMMITTEE, CHARLES E. PALMER, CHAIRPERSON
IN RE: DEVELOPMENT AND PLANNING DIVISION RESOLUTION APPROVING PROJECT PLAN
(ACME MANUFACTURING COMPANY PROJECT) - CITY OF AUBURN HILLS
To Oakland County Board of Commissioners
Chairperson, Ladies and Gentlemen:
WHEREAS The Economic Development Corporation of the County of Oakland (the
"EDC") has recommended that the Board of Commissioners approve the Project Plan
required by the Economic Development Corporations Act (the "Act") for the
captioned Project, a copy of which has been presented to this meeting (the
"Project Plan"); and
WHEREAS the EDC's recommendations to the Board of Commissioners were based
upon its determinations that the Project is reasonable and necessary to
effectuate the purposes of the Act and that the Project Plan satisfies all of the
requirements of the Act regarding project plans; and
WHEREAS the governing body of the City of Auburn Hills, Oakland County,
Michigan, has also approved the Project Plan and given its consent to the
exercise of jurisdiction over the Project by the EDC; and
WHEREAS the Board of Commissioners has held a public hearing to consider
whether the Project Plan constitutes a public purpose as contemplated by the Act;
and
WHEREAS the Board of Commissioners, following such public hearing and its
review of the Project Plan, concurs in the determinations of the EDC with respect
thereto;
NOW THEREFORE BE IT RESOLVED that the Project Plan is hereby determined to
constitute a public purpose as contemplated by the Act and is hereby approved;
and
BE IT FURTHER RESOLVED that the EDC is hereby authorized to take such steps
as are necessary to implement the Project and the financing thereof by the
issuance of its limited obligation revenue bonds as contemplated by the Project
Plan; and
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 Vote:
Motion carried unanimously on a roll call vote with Johnson absent.
THE ECONOMIC DEVELOPMENT CORPORATION
OF THE COUNTY OF OAKLAND
Oakland County, Michigan
Acme Manufacturing Company Project
PROJECT PLAN
CONTENTS
1. Summary Description of Project (Page 1)
2. Project Plan Certification by Company (Page 2)
3. Statutorily Required Information (Page 3)
4. Exhibits
- Project Area Legal Description
"B" - Letter of Credit or Bond Purchaser's Commitment Letter
"C" - Company Certificate Regarding Transfer of Employment
- Company Certificate Regarding Payment of Prevailing Wages
Other
•
PROJECT PLAN
SUMMARY DESCRIPTION OF
ACME MANUFACTURING COMPANY PROJECT
OWNER OF PROJECT: AMC Properties Limited Partnership ("AMC") and a Michigan
limited liability company to be formed the sole member and owner
of which will be Glen A. Carlson, Jr. ("LLC")
CONTACT PERSON: Thomas M. McKaig, CPA
Acme Manufacturing Company
650 W. Twelve Mile Road
Madison Heights, MI 48071-2498
(248/586-2470)
LOCATION OF PROJECT: Auburn Hills, MI
PROJECT AREA/DISTRICT AREA: See Exhibit A
NATURE OF PROJECT: The project consists of the acquisition of land, construction
of an approximately 47,600 square foot manufacturing
facility, and the installation of certain machinery and
equipment for use in operating the facility (the "Project").
EMPLOYMENT CREATED OR RETAINED: Employment Retained: 85
Employment Created: 5
TOTAL PROJECT COST: $4,875,000
BONDS TO BE ISSUED: $3,500,000
LETTER OF CREDIT ISSUER OR BOND PURCHASER: NBD
DATE AND EXPIRATION DATE OF LETTER OF CREDIT OR BOND PURCHASE
COMMITMENT: Letter of Credit Commitment is dated October 19, 1998, and has no stated
expiration date.
PROJECT PLAN CERTIFICATION
THTS PROTPCT PT AN WAS PRPPARTT) FOR THF FrONOMIC
DEVELOPMENT CORPORATION OF THE COUNTY OF
OAKLAND IN ACCORDANCE WITII THE REQUIREMENTS
OF THE ECONOMIC DE U • I CORPORATIONS ACT,
ACT NO. 333 OF THE MICHIGAN PUBLIC ACTS OF 1974, AS
AMENDED.
THE UNDERSIGNED 11AS PROvIDED ALL OF THE
INFORMATION CONTAINS) HEREIN AND HEREBY
CERTIFIES AS TO THE ACCURACY AND VALIDITY OF
SUCH INFORMATION AS OF THE DATE.
THE UNDERSI(iriti) UNVEILS-1'AM* THAT THIS PROJECT
PLAN IS STATUTORILY REQUIRED AND, IF IT CONTAINS
ANY MATERIAL MISREPRESENTATION OR INACCURACY.
COULD RESULT IN THE INVALIDATION OF THE
ECONOMIC DEVELOPMENT CORPORATION PROCEEDINGS
REGARDING TAP PRol-Frr TO WTITCTI TT-TF. 17ROJECT Fl AN
1ER-IA.0 S.
ACME MANUFACTURING COMPANY,
MichIgan corporatioz
Date& 9ctDber 12. 1998
PROJECT PLAN
STATUTORILY REQUIRED INFORMATION REGARDING
ACME MANUFACTURING COMPANY PROJECT
L THE LOCATION AND EXTENT OF EXISTING STREETS AND OTHER
PUBLIC FACILITIES WITHIN THE PROJECT DISTRICT AREA; THE LOCATION,
CHARACTER, AND EXTENT OF THE CATEGORIES OF PUBLIC AND PRIVATE LAND
USES NOW EXISTING AND PROPOSED FOR THE PROJECT AREA, INCLUDING
RESIDENTIAL, RECREATIONAL, COMMERCIAL, INDUSTRIAL, EDUCATIONAL, AND
OTHER USES; AND A LEGAL DESCRIPTION OF THE PROJECT AREA:
The land portion of the Project was undeveloped when purchased by Auburn Hills
Corporate Center ("AHCC"), who is in the process of developing the parcel and other real
property into an industrial park. AMC is purchasing a lot in the development from AHCC and
the building will be constructed by Cunningham-Limp.
Legal description of Project Area attached as Exhibit A.
II. A DESCRIPTION OF EXISTING IMPROVEMENTS IN THE PROJECT AREA
TO BE DEMOLISHED, REPAIRED, OR ALTERED; A DESCRIPTION OF REPAIRS AND
ALTERATIONS; AND AN ESTIMATE OF THE TIME REQUIRED FOR COMPLETION:
Not Applicable
III. THE LOCATION, EXTENT, CHARACTER, AND ESTIMATED COST OF THE
IMPROVEMENTS, INCLUDING REHABILITATION CONTEMPLATED FOR THE
PROJECT AREA, AND AN ESTIMATE OF THE TIME REQUIRED FOR COMPLETION:
Acme Manufacturing Company is a manufacturer of integrated finishing and manufacturing
systems primarily used for industrial purposes. The Project consists of the acquisition of land,
construction of an approximately 47,600 square foot manufacturing facility, and the installation
of certain machinery and equipment for use in operating the facility. The facility will be located
within the Auburn Hills Corporate Center and located on North Atlantic Boulevard. An address
has not yet been assigned.
It is expected that the building, land, and site work will cost approximately S4,000,000.
Another $875,000 has been budgeted for machinery and equipment and costs associated with
issuing the bonds. The estimated time required for completion of the project is 6 - 7 months
(June, 1999).
(See also IV for more detail)
3
IV. A DESCRIPTION OF THE CONSTRUCTION OR STAGES OF
CONSTRUCTION PLANNED, AND THE ESTIMATED TIME OF COMPLETION OF EACH
STAGE:
Building design and site plan: 6/15/98 - 9/30/98
Site preparation: 9/15/98 - 10/15/98
Construction of manufacturing facility: 10/15/98 - 3/15/99
Machinery and equipment will be installed soon after completion of facility.
(See also III)
V. A DESCRIPTION OF THE PARTS OF THE PROJECT AREA TO BE LEFT AS
OPEN SPACE AND THE USE CONTEMPLATED FOR THE SPACE:
Green areas, less ingress and egress to the road and areas set aside for a parking lot, will
surround the building after completion. There is no other intended use for the open space.
VI. A DESCRIPTION OF PORTIONS OF THE PROJECT AREA WHICH THE
ECONOMIC DEVELOPMENT CORPORATION OR THE COMPANY DESIRES TO SELL,
DONATE, EXCHANGE OR LEASE TO OR FROM THE MUNICIPALITY AND THE
PROPOSED TERMS:
Not Applicable
VII. A DESCRIPTION OF DESIRED ZONING CHANGES AND CHANGES IN
STREET, STREET LEVELS, INTERSECTIONS AND UTILITIES:
None
VIII. A DESCRIPTION OF THE PROPOSED METHOD OF FINANCING THE
PROJECT, INCLUDING ATTACHMENT OF A COPY OF THE LETTER OF CREDIT OR
BOND PURCHASER'S COMMITMENT LETTER:
The Project is anticipated to be financed with tax-exempt bonds issued by the Economic
Development Corporation of the County of Oakland and secured by a NBD Bank direct pay letter
of credit.
Copy of Letter of Credit commitment attached as Exhibit B.
IX. A STATEMENT REGARDING THE PAYMENT OF PREVAILING WAGE
AND FRINGE BENEFIT RATES AS DETERMINED PURSUANT TO ACT NO. 166 OF THE
MICHIGAN PUBLIC ACTS OF 1965, AS AMENDED (REGARDING WAGES ON STATE
CONTRACTS):
Company certificate regarding payment of prevailing wages attached as Exhibit D.
4
X. A LIST OF PERSONS WHO WILL MANAGE OR BE ASSOCIATED WITH
THE MANAGEMENT OF THE PROJECT FOR A PERIOD OF NOT LESS THAN 1 (ONE)
YEAR FROM THE DATE OF APPROVAL OF THE PROJECT PLAN:
Thomas M. McKai,g. CPA - Controller
XI. DESIGNATION OF THE PERSON OR PERSONS, NATURAL OR
CORPORATE, TO WHOM THE PROJECT IS TO BE LEASED, SOLD OR CONVEYED AND
FOR WHOSE BENEFIT THE PROJECT IS BEING UNDERTAKEN, TO THE EXTENT THAT
INFORMATION IS PRESENTLY AVAILABLE:
The Project is being undertaken for the benefit of Acme Manufacturing Company, AMC
and LLC.
XII. IF THERE IS NOT AN EXPRESS OR IMPLIED AGREEMENT WITH A
PERSON OR PERSONS, NATURAL OR CORPORATE. THAT THE PROJECT WILL BE
LEASED, SOLD, OR CONVEYED TO THOSE PERSONS, THE PROCEDURES FOR
BIDDING FOR THE LEASING, PURCHASING OR CONVEYING OF THE PROJECT UPON
ITS COMPLETION:
Not Applicable
XIII. ESTIMATES OF THE NUMBER OF PERSONS RESIDING IN THE PROJECT
AREA AND THE NUMBER OF FAMILIES AND INDIVIDUALS TO BE DISPLACED. IF
OCCUPIED RESIDENCES ARE DESIGNATED FOR ACQUISITION AND CLEARANCE,
INCLUDE A SURVEY OF THE FAMILIES AND INDIVIDUALS TO BE DISPLACED,
INCLUDING THEIR INCOME AND RACIAL COMPOSITION, A STATISTICAL
DESCRIPTION OF THE HOUSING SUPPLY IN THE COMMUNITY, INCLUDING THE
NUMBER OF PRIVATE AND PUBLIC UNITS IN EXISTENCE OR UNDER
CONSTRUCTION, THE CONDITION OF THOSE IN EXISTENCE, THE NUMBER OF
OWNER-OCCUPIED AND RENTER-OCCUPIED UNITS, THE ANNUAL RATE OF
TURNOVER OF THE VARIOUS TYPES OF HOUSING AND THE RANGE OF RENTS AND
SALE PRICES, AN ESTIMATE OF THE TOTAL DEMAND FOR HOUSING IN THE
COMMUNITY, AND THE ESTIMATED CAPACITY OF PRIVATE AND PUBLIC HOUSING
AVAILABLE TO DISPLACED FAMILIES AND INDIVIDUALS:
Not Applicable
XIV. A PLAN FOR ESTABLISHING PRIORITY FOR THE RELOCATION OF
PERSONS DISPLACED BY THE PROJECT IN NEW HOUSING IN THE PROJECT AREA:
Not Applicable
5
XV. PROVISION FOR THE COSTS OF RELOCATING PERSONS DISPLACED BY
THE PROJECT AND FINANCIAL ASSISTANCE AND REIMBURSEMENT OF EXPENSES,
INCLUDING LITIGATION EXPENSES AND EXPENSES INCIDENT TO THE TRANSFER
OF TITLE, IN ACCORDANCE WITH THE STANDARDS AND PROVISIONS OF THE
FEDERAL UNIFORM RELOCATION ASSISTANCE AND REAL PROPERTY ACQUISITION
POLICIES ACT OF 1970, 42 U.S.C. 4601 TO 4655:
Not Applicable
XVI. A PLAN FOR COMPLIANCE WITH ACT NO. 227 OF THE MICHIGAN
PUBLIC ACTS OF 1972, WHICH PERTAINS TO PROVIDING FINANCIAL ASSISTANCE,
ADVISORY SERVICES AND REIMBURSEMENT OF CERTAIN EXPENSES TO
DISPLACED PERSONS:
Not Applicable
XVII. OTHER MATERIAL AS THE ECONOMIC DEVELOPMENT CORPORATION,
LOCAL PUBLIC AGENCY, OR GOVERNING BODY CONSIDERS PERTINENT:
Not Applicable
6
Exhibit A
Legal Description
PART OF THE NORTHEAST 1/4 OF SECTION 4, T. 3N., R.10E., CITY OF AUBURN
HILLS, OAKLAND COUNTY, MICHIGAN, AND BEING MORE PARTICULARLY
DESCRIBED AS FOLLOWS:
BEGINNING AT A POINT S 02024'41* E, 1513.00 FEET, ALONG A LINE COMMON
TO SECTION 3 AND SECTION 4 AND S 8T 32 55" W, 551.36 FEET FROM THE
NORTHEAST CORNER OF SAID SECTION 4, AND THE NORTHWEST CORNER OF
SECTION 310 THE POINT OF BEGINNING; THENCE S 02* 24' 41" E, 818.01 FEET;
THENCE S 60° 51' 57" W, 240.00 FEET; THENCE 64.88 FEET ALONG ARC OF A
CURVE TO THE RIGHT OF RADIUS 315.00 FEET, A CENTRAL ANGLE OF
11° 48' 01", CHORD BEARING S 75° 45' 57' W, 64.88'; THENCE N 02" 24' 41" W,
702.13 FEET; THENCE N 87* 32' 55" E, 292.00 FEET TO THE POINT OF
BEGINNING.
CONTAINING 4.438 ACRES OF PROPERTY.
Exhibit B
HBO Bark
1153 Wca1 314 Stayer
rmy. MIrlaaa. 41044
Talapilcoar (14a) atts-ona
Fr: (24)116404
Wars t. ttlivnut
mot V oslEart
Oc..vbra 19, 1998
Glen A. Carlson. Jr., Chnirmon
G. A. Carlson IlL President
Thomaq M. MoK Rig, Cnntrnikr
Acme Manufacturing Company
630 West 12 Mlle Road
Madison [Welts, MT 48071-2498
Gentlemen:
We are happy to COMMIT TO provide a 33,551,781 icAcr of credit for the it.COUttt of
AMC Plypertics Liitard Pin I rip (tlin "Cuuyitay") vouppkat Industxial
Revenue Bonds (the "Bonds') issued for the financing of a new building ortd new
equipment in Oakland County, Michigan. Ilse following is intended to be a
autnntitry of the principal terms and conditions for 11.0 A transaction with any sena(
letter of credit documents to include other provisicns typical to this type of credit
facility.
PARTIES;
Proposed irrevocable letter of credit ("LiC") to be issued by NBD Bank ("NBD")
in favor of a trustee to be named ("Trustee') fru. the amount of the Ciimpany.
PURPOSE..
To insure the payment of $3.500,000 in industrial revenue bonds ("Dimas ") to 'ae
issued for tho bcactit of the Company fix prujeet locatcd in Oakland County,
Michigan.
, WOO/7:
NBD'o ciao epic liability tokier the L/C will nut ext_eeti 33,551,731, wikh
inoludzs required interest mvsrage and principai for a bond issue of up to
r+1 GI ID DILL9
tirInher 14, 14914
33,300,00O3 The !laciest covet qe represents 45 days %.1 interest at a maximum
rate of 12% per =man based on a 365-day year.
DOM) MA TURIT7ES;
Annual prinCipal redemptions under the reimhatsement agreement of S100,000 in
years two through four followed by annual principal redemptions of $200,000 in
years fivetJirtib twenty. figural ix paid *mighty.
FACKNT AGREE:WEN]
LETTER OF CREJ)1T COMMLSS1ON;
2.00% per antrum payable annually In advance, based upon NBD's liability under
the DC (including any liability subject tu reinstatement). The w.muuligiun rate
may be subject to annual zurljustment as provided in 1I paragraph entitled "Yield
Protection" below. Commencing in yew two, the commiseitni rata shall be
determined by the ratio of (EDIT plus Lease Expense) to (Principal, Interest, and
Lee Expense), as follows.
<1.25 2.00%
125 and 1.50 1.73%
> 1.50 and < 1.75 1.50%
2. 1.75 1.25%
i.LRItA.NGENENT/SEAP7C71 4iG TEE;
S37,500 fee for issuance of the Lit and 3ftv1cing atilt ecnstruction draws,
payable 503i upon acceptance, with the balance payable upon closizg.
DLSBURSEMENT EXPENSES;
$100 fege for each t.rv by the Truite it under the LC.
EXPENSES:
Legal CAPCLINC3 vfNBD together with all °the% out-of-pocket costa to be paid by
the Company. lsial CepenICS ofMID to be *viral ot
LETTER OF CREDIT REDUCTIONS;
Reductions in the Lt: will be auttnnatcally insti:uted with each scheduled
pruicipal payment and will be perrniUed by written authorization uf the Trttewe
based on principal prepayments on the Bends.
October 19, 1998
REDUCTIONS AND EARLY TERMLNATION:
przpaid ccuniasions will be reand.nd on a pro-ratz ba:sis eller We rust pan as L/C
reduction* me authorierd by ale Trustee es a result rof scheduled pond principal
payments or pec-perncrits, or in the event that NIID is replaced by another bank as
letter of credit loner for thi Bonds., at the. Bonds are refunded through another
iesue prior to an incpiq date.
LETTER OF CREDIT EXPIRY;
Nut lata Ulm 15 days following the fifth anniversary of the Bonds' issuance date
unless extended at the sole discretion of NED. Upon the Company's request
(received within 6 roonths of ilia or4n31 expiry date or any subsequent extension
thereat) NBD will, within 30 days, advise the Company of the terms by Much it is
witting to extend the existing expiry date.
YIELD PROTECT10.v:
The Conxpany would be required to reimburse the Bank for any incremed cost in
the issuing or the imposed by a change in any law, rule,
repletion, or cilcumatsnce affecting the Hank's yield. This would include any
change to the capital adequacy requirementa.
DRAWI144 RIGHTS:
Dressings under &to L/C by the Trustee may result &ern:
1. Payntain of principal and/or interest on the Bonds when due.
2. Default under the Bond indenture lithe •Inmee is requited, at the direction
tt the Bondholders. to accelerate payment of the BOMA
3. A default under the Reimbursement Apeement rtztilting NBD %Htin&
the uustee to prepay the Bonds.
4. The tcnda of Bonds under the Bondholders trldler option if the Bonds are
not rernarketed by the tender date.
RE7MBUILIEMENT AGREEMENT;
As the draws described above are made. Me Company will then reimburve the
an for those draws under the (rrms and uunditiula of the Reirnburaement
Agreement entered ;ago bety.wn the Conipeny and the Bank, The Reimbursement
Agreement between MID and the Company will provide as follows:
1. The Reimbursement Agreement will include business covenants customary rn
term financing tn he mutual ly agreed upon by NED and the Company.
including the following ("serviced on Acne Manufacturing Company).
1) Tangible Capital Funds (to include Subordinated I )004 and /Awn cif the T.TEO
H2serve) not less than S1,000.000. increasing by $200,000 annually In years
one and two, and S100 1000 annually in years three and four.
.1
Ortoner 19, 199g
2) Tutu.' LietiliLic U Ttuigiblc Capital Fuaids nut tu exi.ced 6.0:1.0 roducing to
5.0:1.0 on 12-31-99, and 4.01.0 on 12-31-00.
3) (EB1T plus Lean Expense) to (Principal, Intcres-t, anti Loam Expense) not lets
than 1.11.0.
4) so Ion SS no default extsts. the company easy defer payment of the principal
pardon of its reimbursement obligation arising trom Bonds being tendered and
not remarketed until dm earlier u( 1110 datyv eftei daze of the drawing or the
expiry of the Idt. Such obligation will boar interrst at the NBD Prime rate as
it exit= from time to dine.
5) Except for rearnhsalletrient anitptinne deterred pursuant to the item number
immediately above, the Company will be obligated to reimburse ND fur all
amounts drawn under the LiC on the day uf iht drawing and any shortfall in
reimburatineut will avcitat iutunt at NB.D's pi Ina rate plus 3.0014.
NI3D may direct the Trustee to prepay the Bonds if there is a drawing under the L/C
not immediately reimbuned by :Be Company unless deferred purstram to Item #4
abovA or if theirA3q any other default under the Reimbursement Agreement.
SUPPORTING COLLATERAL;
To secure its obligations u.sder the Reimbursement Agreement. the Company will
provide:
1. Fast teal Wade mortgage on laud and building in Auburn Dill; Michigan.
2. First security interest in esuirnnant to be purchased with bond proceeds.
3. Ageism:cent and r,obordinstion of lease.
4. Guarantee of Acme Manufacturine Comrtanylumported by a first security
interest in eorapott hardware and software with n mat of approximately
$200.000 and 550,000, respectively.
5. Guaisince of C.C. Mitchell supported by a fust security interest in oquipment
iztvettray wilh a cwt of approximately $150,000.
6. Guarantee of Ohm A. Carlson. Jr. supported by a first Security interest in
notes payable of $588,000 from 4nme Manufacturing C!ornrany.
Bonds tendered wider the :ander option will be retained by the Trustee as collateral
for the Company's obligation to NED arising from clJewiii wider the Lie until
the Bun& art remarketed or the reiroburnment obligation othcrwix paid.
FINANCIAL STATEMENTS:
actrne Manufacturing Company will be obligated to provide to NW SIMUSI
audited financial statements prepared by independent certred public accountanty
saLi316.toly to 1BD. In addition, Acme Manufacturing Company will be obligated
Agreed to end =wed this ze day of October, 1998.
C Properties Limited Partnership
a,
Glen A. Czylson. Jr.
Member
October 19, 199$
to provide quarterly financial StatC21101:3, and AMC Propel-tics Limited Partnership
will be obligated to provide annual financial ztatements and tax returns, oertifiad ao
(MITI by officers of the companies.
COADITION ,PRECEDENT:
1. Designation of Bond CAUI.Sel atui TELnStee at.;‘eptcblc tu NBD.
2. Satisfactory compliance with N1D's F.nvironnic.ntal atx1 Real Estate policies to
be provided under separate cove.
1. Funding qfproposed not to ereeed the lesser of SON of the Call oldie land
and Willing or satislactory MAI appruited value of the land dini building,
plias 80% Vag cast of atw equipment,
4. Glen A. Carlson, Jr. equity contribution of 11,300,004
3. Documents prepared by Bond Ccunsel and othef closing dOCUIXICIII3 utu.st be
satisfactory in form and substance to NBD and it legal count:el.
6. Satisfactory custom: check:41gs.
In addition, rhe final documentation will include representations, warranties. and
other covenants of me Company standard for this type °fleetly.
Tha foreraingi intender/10 pays* a substantive outline of the proposes tfNiD
Bank and Fill Chkago Capital Admiral% Inc. rather than a complete statettemee of
all terms, conditions and documents wtikk would he required in connection with
the tray:sat:liens described above. It is postote that substantive terra; and
modem may be Menge(' ho Orde? to account far or reflect changes In stanNoty
or regulatory authorities governing the sighed mailer vf* the tratioaction,
Siricerely,
(
Larry E. &luster
First Vico President
COMPANY CERT 111CATE ithtiARDING
TRANSFER OF EMPLOYMENT
(Acme Manufacturing Company Project)
The Undercisned, Acme Matalf241111ting Ccinpany. a Michigan corporation (the
'Company" hereby certines to Tbc EC0130111iC Develuptnent Curptual,iou of the County of
Oakland (Itre "EDC") fullvws:
1, This Certificate is made and based upori the beet cf the Company's knowledge anti
belief, only dier thorough investigation acid discussion with air owners of the Comp= and othen
wbn might have knowkage rr,gardthg the subject matter.
2, The Company acknowledges thac this Certificate will be employed by the riDC
the sole basis for thc MC'S cernficadon to the Board of Commission= of the County of Oekhuid
as to transfer of empltriznern as required by Section 8(s) of the EcOnOrniC Development
Corporations Act, Act No. ?a of the Michigan Public Acts of 1974, RS amended (the "ital.
3. The company understands that thc EDC 1s Certification to the Board of
Commissioners uf the County of Oakland is a statutory requirement which, if improperly made
ai based upon any material misrepresentation ea, inaccuracy, mIght invalidate the proceedings
regarding the &me Uanufacturing Company Project (the "Project") pennant m which the ISIX
expects ultimately to issue its limited obligation economic development revenue bonds to finance
all err part Of the Project.
4, As or We time licteof, tbc ?Malt will havc thc effect of Transferring employment
of more than 20 11.1114imo persons from a municipality (as char term is defined in the Act) of rhia
State to die City of Aubum Hills, Michigan, the municipality in which The Project will be locebsd,
but the Company will obtain a COMPfif f0 mien tramfer as required by the Act prior to the issuencx
of the k..UC's bones.
ACME MANUFACTURING COMPANY, a
Michigan corporation
DOM. ()ember 12,_1.9214
C 1
COMPANY CERTIFICATE REGARDING
PAYMENT UN PR foi A WAGES
(Acme MemitecturIng Company Project)
The undersigned, Acing Manufacturing Company, a Michigan mrporation (the
"Compturyl), hereby mrtifies to 'Ile to0110MI0 Development Cc/401km of Ine CfiecitY of
Oakland (the "NIX") as follow
1. The Company under:Linda that this Cor6floate i a statutory requirement under the
Economic Dcvolopment Corporations Act, Act No. 338 of the Michigan Public Acts of 1974, as
=mud the Aell) which, if improperly made or hued upon any materiat mstcprr.zentation Or
inaccuracy, might kvaliriata she proceedings regarding the Acme Manufacturing Convoy Project
(the "Project") pursuant to which the MC expects ultinaltill) to issue int limited obligation
economic development revenue bona.% to finance all or part of the Projcct.
2. Within the 1:1109JUS ar4 intent of Section 11(4Xti) of the Act, all PetS011A performing
work on the oonstrugtioo of (be Project will be phi the prevailing wage and fringe benefit rates
for the same or similar wort in tbe 'milky in which the work is to be performed. as detrawined
pursuant to Act No. MI5 of the Michigan Public Acts of 190. as amended.
ACME MANUFACTURING COMPANY, a
Michigan corporation
Dated: Orleber 11. 1991i
D-1
Resolution #98290 November 19, 1998
Moved by Palmer supported by Kingzett the resolution be adopted.
AYES: Hoffman, Holbert, Huntoon, Jensen, Johnson, Kaczmar, Kingzett, Law,
McCulloch, McPherson, Millard, Moffitt, Obrecht, Palmer, Schmid, Taub, Wolf,
Amos, Coleman, Dingeldey, Douglas, Garfield, Gregory. (23)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted.
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, G. William Caddell, 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 November 19, 1998 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 /9th day ofi November 1998.
G. William Caddell, County Clerk