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Home My WebLink AboutResolutions - 2000.03.09 - 26113MISCELLANEOUS RESOLUTION # 00035 BY: Sue Ann Douglas, District #8; Nancy Dingeldey, District #11; John P. McCulloch, District #22 IN RE: ENVIRONMENTAL INFRASTRUCTURE FUND — OPTIONAL ACCELERATED PAYMENT SCHEDULE To the Oakland county Board of Commissioners Chairperson, Ladies and Gentlemen: WHEREAS, through adoption of Miscellaneous Resolution #99109, the Board of Commissioners amended the General Appropriations Act for purposes of implementing operation of the County's environmental Infrastructure Fund; and WHEREAS the amendment specifies annual installment of $5,000,000 on a County-wide basis, allocated to individual cities, villages and townships (CVTs) based on 50% of the percentage of each CVT's State Taxable Value (STV) to the County's total taxable value for the most recently completed assessment year, and 50% on the percentage of each CVT's population, to the County's total population based on the most recently completed Decennial Census; and WHEREAS due to large environmental infrastructure projects that significantly exceed the annual availability of funding, CVTs and the Board of Commissioners are desirous of establishing an optional accelerated payment schedule that provides funds immediately at a discount rate equivalent to six-month Treasury bill rates (6.00%) consistent with current County policy with regard to borrowing funds from the Delinquent Tax Revolving Fund; and WHEREAS each CVT would have the option of requesting their allocation on an annual basis (with no discount), accumulating their unused annual allocation for distribution in future years, but no later than September 30, 2004 (with no discount), or gaining immediate access to future allocations (at a discount predicated on an interest rate equivalent to six-month Treasury Bill rates (6.00%); and WHEREAS the Optional Accelerated Payment Schedule also requires incorporation of the percent language regarding most recent SW and decennial population at time of payment; and WHEREAS implementation of this resolution requires amendment to Section 21(g) of the General Appropriations Act, appropriating the remaining three years of earmarked Delinquent Tax Revolving Fund monies, at a discount amount, for environmental infrastructure purposes. NOW THEREFORE BE IT RESOLVED that the Oakland County Board of Commissioners establish an Optional Accelerated Payment Schedule for Environmental Infrastructure Fund distributions that permit local Cities, Villages and Townships to gain immediate access to future allocations at a discount rate equivalent to six-month Treasury bill rates (6.00%). BE IT FURTHER RESOLVED that Section 21(g) of the General Appropriations Act be amended by adding the following: The remaining appropriation for Fiscal Years 2001 through 2003 ($13,127,000) is authorized to be transferred from the Delinquent Tax Revolving Fund to implement an Optional Accelerated Payment Schedule for Environmental Infrastructure Fund distributions. The allocation of funds for those CVTs that choose the Optional Accelerated Payment Schedule will be based on 50% of the percentage of each CVT's State Taxable Value (SW) to the County's total taxable value for the most recently completed assessment year, and 50% on the percentage of each CVT's population, to the County's total population based on the most recently completed Decennial Census. Chairperson, I move adoption of the foregoing resolution. Resolution #00035 February 24, 2000 The Chairperson referred the resolution to the Finance Committee. There were no objections. County of Oakland, Michigan Environmental Infrastructure Fund Distribution Optional Accelerated Payment Schedule VILLAGES & TOWNSHIPS 1999 2000 Allocation Allocation 2001 Allocation 2002 Allocation 2003 Allocation Total Allocation ADDISON VILLAGE OF LEONARD BLOOMFIELD BRANDON VILLAGE OF ORTONVILLE COMMERCE VILLAGE OF WOLVERINE GROVELAND HIGHLAND HOLLY VILLAGE OF HOLLY INDEPENDENCE LYON MILFORD VILLAGE OF MILFORD NOVI OAKLAND ORION VILLAGE OF LAKE ORION OXFORD VILLAGE OF OXFORD ROSE ROYAL OAK SOUTHFIELD VILLAGE OF BEVERLY HILLS VILLAGE OF BINGHAM FARMS VILLAGE OF FRANKLIN SPRINGFIELD WATERFORD WEST BLOOMFIELD WHITE LAKE $ 22,762.63 $ 1,464.97 256,426.90 43,047.79 4,713.93 117,321.87 17,532.73 20,588.69 70,597.81 13,284.23 18,567.29 112,473.23 41,396.12 39,164.29 22,649.48 413.05 55,185.61 118,292.80 11,453.23 40,178.73 12,553.31 20,555.25 15,120.58 380.05 48,520.79 12,097.25 16,828.29 46,505.47 262,893.19 291,305.04 94,650.95 22,762.63 $ 1,464.97 256,426.90 43,047.79 4,713.93 117,321.87 17,532.73 20,588.69 70,597.81 13,284.23 18,567.29 112,473.23 41,396.12 39,164.29 22,649.48 413.05 55,185.61 118,292.80 11,453.23 40,178.73 12,553.31 20,555.25 15,120.58 380.05 48,520.79 12,097.25 16,828.29 46,505.47 262,893.19 291,305.04 94,650.95 21,396.87 $ 1,377.07 241,041.29 40,464.92 4,431.09 110,282.56 16,480.77 19,353.37 66,361.94 12,487.18 17,453.25 105,724.84 38,912.35 36,814.43 21,290.51 388.27 51,874.47 111,195.23 10,766.04 37,768.01 11,800.11 19,321.94 14,213.35 357.25 45,609.54 11,371.42 15,818.59 43,715.14 247,119.60 273,826.74 88,971.89 19,949.17 $ 1,283.90 224,732.54 37,727.08 4,131.29 102,820.89 15,365.68 18,043.93 61,871.92 11,642.30 16,272.37 98,571.54 36,279.56 34,323.58 19,850.00 362.00 48,364.67 103,671.81 10,037.61 35,212.64 11,001.72 18,014.62 13,251.68 333.08 42,523.62 10;602.03 14,748.31 40,757.39 230,399.59 255,299.74 82,952.09 18,414.97 $ 1,185.16 207,449.36 34,825.66 3,813.57 94,913.39 14,183.98 16,656.25 57,113.63 10,746.94 15,020.94 90,990.84 33,489.46 31,683.91 18,323.43 334.16 44,645.16 95,698.88 9,265.66 32,504.59 10,155.63 16,629.20 12,232.55 307.46 39,253.32 9,786.68 13,614.09 37,622.93 212,680.59 235,665.78 76,572.62 105,286.27 6,776.07 1,186,076.98 199,113.25 21,803.81 542,660.58 81,095.89 95,230.93 326,543.11 61,444.88 85,881.14 520,233.68 191,473.61 181,150.51 104,762.90 1,910.52 255,255.52 547,151.52 52,975.77 185,842.70 58,064.08 95,076.25 69,938.73 1,757.88 224,428.06 55,954.62 77,837.57 215,106.40 1,215,986.16 1,347,402.33 437,798.50 TOTAL VILLAGES & TOWNSHIPS $ 1,848,925.55 $ 1,848,925.55 $ 1,737,990.02 $ 1,620,398.35 $ 1,495,780.77 $ 8,552,020.24 FISCAL NOTE (M.R. #00035) March 9, 2000 BY: FINANCE COMMITTEE, SUE ANN DOUGLAS, CHAIRPERSON IN: ENVIRONMENTAL INFRASTRUTURE FUND - OPTIONAL ACCELERATED PAYMENT SCHEDULE TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS Chairperson, Ladies and Gentlemen: Pursuant to Rule XII-C of this Board, the Finance Committee has reviewed the above reference resolution and finds no budget amendments are required. FINANCE COMMITTEE FINANCE COMMITTEE VOTE: Motion carried unanimously on a roll call vote with Palmer absent. Resolution #00035 March 9, 2000 Moved by Douglas supported by Dingeldey the resolution be adopted. AYES: Buckley, Causey-Mitchell, Colasanti, Coleman, Dingeldey, Douglas, Galloway, Garfield, Gregory, Jensen, Law, McCulloch, McPherson, Melton, Millard, Moffitt, Obrecht, Palmer, Patterson, Schmid, Sever, Suarez, Taub, Amos, Appel. (25) NAYS: None. (0) A sufficient majority having voted therefor, the resolution was adopted. HE FOREGOING RESOI rip L. Brooks P. erson. County Executive Date I HEREBY 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 March 9, 2000 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 94a7day ge March, 2000. G. William Caddell, County Clerk