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HomeMy WebLinkAboutResolutions - 2003.12.11 - 27074Planning & Building Committee ' / December 11, 2003 REPORT (misc. #03311) BY: Planning and Building Committee, Charles Palmer, Chairperson RE: Waumegah Lake Improvement Board — Request for $150,000 Loan From Long Term Revolving Fund for Augmentation Well Project TO: The Oakland County Finance Committee Chairperson, Ladies and Gentlemen: The Planning and Building Committee, having reviewed MR # 03311 on December 11, 2003 recommends the Resolution to amended and adopted as follows: In the Now Therefore Be It Resolved paragraph after ..."and Special Assessment District" from the County Long Term Revolving Fund" And at the end of the paragraph, strike the words, "to be determined and set forth in a contract to be approved at some time in the future by action of this board of Commissioners." And add a BE IT FURTHER RESOLVED paragraph as follows: BE IT FURTHER RESOLVED that the Oakland County Board of Commissioners authorizes its Chairperson to execute a contract, prepared by Corporation Counsel and consistent with MR #02019, for the repayment of this loan." Mr. Chairperson I move the acceptance of the foregoing Report. Planning & Building Committee Vote: Motion carried on a unanimous roll call vote MISCELLANEOUS RESOLUTION # 03311) By: Commissioner Bill Bullard, Jr., District #2 IN RE: WAUMEGAH LAKE IMPROVEMENT BOARD - REQUEST FOR $150,000 LOAN FROM LONG TERM REVOLVING FUND FOR AUGMENTATION WELL PROJECT TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS Chairmen, Ladies and Gentlemen: WHEREAS Waumegah Lake, having a surface area of approximately 112 acres, is an inland lake located in Springfield and Independence Townships, Oakland County, Michigan; and WHEREAS on January 8, 1996 a structural failure of the approximately 70 year old private dam structure controlling the level of Waumegah Lake occurred, threatening the public health, safety and welfare, and putting the lake level at risk; and WHEREAS, in 1998 the Drain Commissioner, as the county delegated authority under Part 307 of the Michigan Natural Resources and Environmental Protection Act, 1994 P.A. 451, as amended, MCL 324.30701 et seq., oversaw the design and construction of a new dam structure for Waumegah Lake, the cost of that was paid for by special assessments; and, WHEREAS, following construction of the new dam structure, the lake level has not increased to the normal or legal level for Waumegah Lake as established by the Circuit Court; and, WHEREAS , the Waumegah Lake Improvement Board, a public agency established pursuant to Part 309 of the Michigan Natural Resources and Environmental Protection Act, 1994 P.A. 451 ("Part 309"), as amended, MCL 324.30901 et seq., has determined that construction of an augmentation well is necessary in order to properly attain and maintain the legal level for Waumegah Lake; and, WHEREAS, Oakland County Board of Commissioners adopted Misc. Resolution No. 02019 on February 21, 2002, establishing a Long Term Revolving Fund to assist local units of government to finance water and sewer projects that do not require the issuance of bonds; WHEREAS, Misc. Resolution No. 02019 provides that each project loan shall not exceed $150,000; WHEREAS, pursuant to Section 30922 of Part 309, the Lake Improvement Board is authorized to borrow money and collect special assessments to defray the costs of any improvement made under Part 309; and, WHEREAS, Waumegah Lake Improvement Board, has requested a $150,000 loan from the County's Long Term Revolving Fund to pay for the design and construction of an augmentation well to attain and maintain the legal and normal level of Waumegah Lake; and, NOW THEREFORE BE IT RESOLVED, that this Board of Commissioners does hereby authorize the advance of a sum not to exceed $150,000 to the Waumegah Lake Improvement Board and Special Assessment District for the design and construction of an augmentation well for Waumegah Lake, consistent with prior established policy covering the loan of County funds, with the actual amount of the loan, including applicable interest rate and repayment schedule to be determined and set forth in a contract to be approved at some time in the future by action of this Board of Commissioners. PLANNING & BUILDING COMMITTEE OCT 30,2003 11:58 . • 101 D0/200:: 12:27 0505090 , 2489221570 im fI Page 2 111n••n Signed: .. Secretary )ate: ACTION 5.R October 20, 2003 WALIMEGATT TAKE IMPROVEMENT BOARD AESOLVTI9N I'PL atstm motif:cr. FINANCING WHEREAS, the Board has d.etertnined that various lake iMprovements are nemssary, and WHEREAS, the Board established a Special Assessment District (SAD) to finance the projects based on the attached "Assessment Calculation, and WIMIZEAS, ii is noceNarY fur the Board to obtain capital funding using the SAD as the payiniek mechanism, and WI IEREAS, the Board has determined that it should obtain the funds -from the Oakland et a inty Revolving l'und, NOW TITEREFORE 13E iT RRS01,1717,1) that the Waumegah Lake Improvement Board authorizes the Chairperson of the Hoard to pursue the financing from the Oakland County Revohing Fund, in an amount not to CXie4- S I50,000, to be amortized _ng _o .anc.s generated by the SAD . accord; t I 3 BE IF FURTHER RESOLVED that in an effort to expedite !he projects, the Wauniegali Lake hilprovement Board authorizes the Chairperson of the Board to execute the necessary documents to SCCUre the funding from the Oakland County Revolving Fund. Based on the above information, it was moved by Dr. Haduck__ and seconded by Mr, Kirby_ , to adopt the foregoing resolution at a duly called. nieeting of the Waumegah Lake 1min -oven-will Board meeting held on October 20, 2003 oc:r at,..:0 0 .1 11:1 / Pd q c 1 85351:190 CONTRACT THIS CONTRACT (hereafter, this "Contract") is made and entered into between the COUNTY OF OAKLAND, a Michigan Constitutional and Municipal Corporation, whose address is 1200 North Telegraph Road, Michigan 48341 (hereafter, the "County"), and LAKE IMPROVEMENT BOARD FOR WAUMEGAH LAKE (hereafter, the "Lake Improvement Board"). In this Contract, either the County and/or the Lake Board may also be referred to individually as a "Party" or jointly as "Parties." INTRODUCTION WHEREAS, Waumegah Lake is an inland lake located in the Charter Township of Springfield, Oakland County, Michigan; and, WHEREAS, pursuant to Part 309 of the Michigan Natural Resources and Environmental Protection Act, 1994 P.A. 451, as amended, MCL 324.30901 et seq, a Lake Improvement Board for W aumegah Lake was established for the purpose of undertaking improvements to Waumegah Lake; and, WHEREAS the Lake Improvement Board has determined that construction of an augmentation well is necessary in order to properly attain and maintain the legal level for Waumegah Lake; and, WHEREAS, following a Public Hearing, the Lake Improvement Board approved and confirmed a Special Assessment roll for Waumegah Lake Augmentation Well project; and WHEREAS, the County Board of Commissioners, pursuant to Miscellaneous Resolution No. 02019 (hereafter MR #02019) on February 21, • 2002, established a Long Term Revolving Fund to advance funding for lake level control projects for the protection of the health safety and welfare of the public, to protect the natural resources of the State, and to protect the value of properties around lakes; and, WHEREAS pursuant to Section 30922 of Part 309, the Lake Improvement Board is authorized to borrow money and collect special assessments to defray the costs of any improvement made under Part 309; and WHEREAS Waumegah Lake Improvement Board, has requested a $150,000 loan from the County's Long Term Revolving Fund to pay for the design and construction of an augmentation well to attain and maintain the legal and normal level of Waumegah Lake. WHEREAS, pursuant to Miscellaneous Resolution No. 03311 (hereinafter "MR #03311"), the County Board of Commissioners agrees to advance an amount not to exceed $150,000 to the Waumegah Lake Improvement Board upon the terms and conditions set forth in this Contract. NOW, THEREFORE, pursuant to MR #02019 and MR #03311, which are incorporated herein, and in consideration of the mutual promises, representations, and agreements set forth in t his Contract, and for other g ood and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the Parties agree as follows: 1. The County hereby agrees to advance an amount not to exceed $150,000 to the Lake Improvement Board in connection with an augmentation well 2 project that is has been determined to be necessary in order to attain and maintain the legal level for Waumegah Lake. 2. The amount advanced by the County shall be applied to the allowable costs as authorized for the project as approved by the Lake Improvement Board in accordance with Part 309. 3. The Lake Improvement Board shall reimburse the County for all funds advanced including interest, in accordance with the attached Loan Repayment Schedule, with the special assessments levied and collected from the properties within the special assessment district established and approved by the Lake Improvement Board in accordance with the procedures set forth in Part 309. 4. Principal and interest payments are due March 1, with the first payment due on March 1, 2005 and last payment due March 1, 2013, in accordance with the attached repayment schedule. The annual interest rate is 1.73%, which is based on the six-month treasury bill rate. 5. If any funds raised pursuant to the special assessment district are insufficient to meet the obligation under this contract, the Lake Improvement Board shall proceed in accordance with Section 30919 (MCL 324.30919) to make additional special assessments in order to fulfill its obligations under this contract. 6. If any provision of this contract or the application to any person or circumstance is, to any extent, judicially determined to be invalid or unenforceable, the remainder of the Contract, or the application of the 3 provision to persons or circumstances other than those as to which it is invalid or unenforceable, is not affected and is enforceable, provided the invalid provision does not substantially alter the contract or make execution impractical. FOR AND IN CONSIDERATION of the mutual assurances, promises, acknowledgments, warrants, representations, and agreements set forth in this Contract, and for other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the undersigned hereby execute this Contract on behalf of the Parties, and by doing so legally obligate and bind the Parties to the terms and conditions of this Contract. IN WITNESS WHEREOF, PAUL W. HADUCK Chairperson of the Lake Improvement Board for W aumegah Lake, hereby accepts and binds the lake Improvement Board and its Special Assessment D istrict t o the terms and conditions of this Contract. LAKE IMPROVEMENT BOARD FORAWAUMEGAH LAKE DATE: Chairperson WITNESSED: 14),d_L, gul4tAil WILLIS L. BULLARD, JR. DATE: 4 G. William Caddell, County of Oakland Clerk/Register of Deeds DATE: 7, 6 IN WITNESS WHEREOF, Thomas A. Law, Chairperson, Oakland County Board of Commissioners, hereby acknowledges that he has been authorized by a resolution of the Oakland County Board of Commissioners, a copy of which is attached, to execute this Contract on behalf of the Oakland County, and hereby accepts and binds the Oakland County to the terms and conditions of this Contract. NTY OF 0 CN, Thomas A. Law, C airperson DATE: c‘ NOLk. 5 Oakland County, Michigan Waumegah Lake Improvement Board - Loan from The Long-Term Revolving Fund Loan Repayment Schedule Loan Amount Interest Rate $150,000.00 Compounded Quarterly Date of Issuance 1.73% County Resolution # 1-Sep-2004 MR# 03311 Due Date Payment Principal Interest Principal Balance 150,000.00 150,000.00 133,333.33 133,333.33 133,333.33 133,333.33 116,666.66 116,666.66 116,666.66 116,666.66 99,999.99 99,999.99 99,999.99 99,999.99 83,333.32 83,333.32 83,333.32 83,333.32 66,666.65 66,666.65 66,666.65 66,666.65 49,999.98 49,999.98 49,999.98 49,999.98 33,333.31 33,333.31 33,333.31 33,333.31 16,666.64 16,666.64 16,666.64 16,666.64 1-Dec-2004 648.75 1-Mar-2005 17,315.42 1-Jun-2005 576.67 1-Sep-2005 576.67 1-Dec-2005 576.67 1-Mar-2006 17,243.34 16,666.67 1-Jun-2006 504.58 1-Sep-2006 504.58 1-Dec-2006 504.58 1-Mar-2007 17,171.25 16,666.67 1-Jun-2007 432.50 1-Sep-2007 432.50 1-Dec-2007 432.50 1-Mar-2008 17,099.17 16,666.67 1-Jun-2008 360.42 1-Sep-2008 360.42 1-Dec-2008 360.42 1-Mar-2009 17,027.09 16,666.67 1-Jun-2009 288.33 1-Sep-2009 288.33 1-Dec-2009 288.33 1-Mar-2010 16,955.00 16,666.67 1-Jun-2010 216.25 1-Sep-2010 216.25 1-Dec-2010 216.25 1-Mar-2011 16,882.92 16,666.67 1-Jun-2011 144.17 1-Sep-2011 144.17 1-Dec-2011 144.17 1-Mar-2012 16,810.84 16,666.67 1-Jun-2012 72.08 1-Sep-2012 72.08 1-Dec-2012 72.08 1-Mar-2013 16,738.72 16,666.64 Total $161,028.75 $150,000.00 648.75 648.75 576.67 576.67 576.67 576.67 504.58 504.58 504.58 504.58 432.50 432.50 432.50 432.50 360.42 360.42 360.42 360.42 288.33 288.33 288.33 288.33 216.25 216.25 216.25 216.25 144.17 144.17 144.17 144.17 72.08 72.08 72.08 72.08 $11,028.75 16,666.67 Checks should be made payable to "Oakland County," and should be mailed to 1 Public Works Drive, Waterford, MI 48328, Attention Shawn Phelps - Supervisor Drain Accounting. December 11,2003 REPORT (misc. #03311) BY: Planning and Building Committee, Charles Palmer, Chairperson RE: Waumegah Lake Improvement Board - Request for $150,000 Loan From Long Term-Revolving-Fund for Augmentation-Well Project TO: The Oakland County Finance Committee Chairperson, Ladies and Gentlemen: The Planning and Building Committee, having reviewed MR #03311 on December 11, 2003 recommends the Resolution to amended and adopted as follows: In the Now Therefore Be It Resolved paragraph after ..."and Special Assessment District" from the County Long Term Revolving Fund" And at the end of the paragraph, strike the words, "to be determined and set forth in a contract to be approved at some time in the future by action of this board of Commissioners." And add a BE IT FURTHER RESOLVED paragraph as follows: BE IT FURTHER RESOLVED that the Oakland County Board of Commissioners authorizes its Chairperson to execute a contract, prepared by Corporation Counsel and consistent with MR #02019, for the repayment of this loan." Mr. Chairperson I move the acceptance of the foregoing Report. Planning & Building Committee Planning & Building Committee Vote: Motion carried on a unanimous roll call vote rel;(12g-e4- MISCELLANEOUS RESOLUTION # 03311) By: Commissioner Bill Bullard, Jr., District #2 IN RE: WAUMEGAH LAKE IMPROVEMENT BOARD - REQUEST FOR $150,000 LOAN FROM LONG TERM REVOLVING FUND FOR AUGMENTATION WELL PROJECT TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS Chairmen, Ladies and Gentlemen: WHERE-A-S Waumegah Lake, having -a -surface area of approximately -1-12 acres, is an inland lake located in Springfield and Independence Townships, Oakland County, Michigan; and WHEREAS on January 8, 1996 a structural failure of the approximately 70 year old private dam structure controlling the level of Waumegah Lake occurred, threatening the public health, safety and welfare, and putting the lake level at risk; and WHEREAS, in 1998 the Drain Commissioner, as the county delegated authority under Part 307 of the Michigan Natural Resources and Environmental Protection Act, 1994 P.A. 451, as amended, MCL 324.30701 et seq., oversaw the design and construction of a new dam structure for Waumegah Lake, the cost of that was paid for by special assessments; and, WHEREAS, following construction of the new dam structure, the lake level has not increased to the normal or legal level for Waumegah Lake as established by the Circuit Court; and, WHEREAS , the Waumegah Lake Improvement Board, a public agency established pursuant to Part 309 of the Michigan Natural Resources and Environmental Protection Act, 1994 P.A. 451 ("Part 309"), as amended, MCL 324.30901 et seq., has determined that construction of an augmentation well is necessary in order to properly attain and maintain the legal level for Waumegah Lake; and, WHEREAS, Oakland County Board of Commissioners adopted Misc. Resolution No. 02019 on February 21, 2002, establishing a Long Term Revolving Fund to assist local units of government to finance water and sewer projects that do not require the issuance of bonds; WHEREAS, Misc. Resolution No. 02019 provides that each project loan shall not exceed $150,000; WHEREAS, pursuant to Section 30922 of Part 309, the Lake Improvement Board is authorized to borrow money and collect special assessments to defray the costs of any improvement made under Part 309; and, WHEREAS, Waumegah Lake Improvement Board, has requested a $150,000 loan from the County's Long Term Revolving Fund to pay for the design and construction of an augmentation well to attain and maintain the legal and normal level of Waumegah Lake; and, NOW THEREFORE BE IT RESOLVED, that this Board of Commissioners does hereby authorize the advance of a sum not to exceed $150,000 to the Waumegah Lake Improvement Board and Special Assessment District for the design and construction of an augmentation well for Waumegah Lake, consistent with prior established policy covering the loan of County funds, with the actual amount of the loan, including applicable interest rate and repayment schedule to be determined and set forth in a contract to be approved at some time in the future by action of this Board of Commissioners. PLANNING & BUILDENG COMMITTEE OCT '30,2003 11:58 7.012013 12:27 07,050'140 2489221570 izI 'MI Page 2 , Secretary ACTION ITEM: 5.R October 20, 2003 WAITMEGATT TAKE IMPROVEMENT BOARD gEsoLuo.p.N atS1).T. PROJECT -- WHERFAS, the Board has determined that 'various lake improvements are FI.PreSNi ly, afid the Boarli established a special Asses'smcm District (SAD) to finance tlw H.Sttf I on the attached "Assessment Calcul.atioli', and WHEREAS, it is necessary for the Board to obtain capital funding using the SAD as the payback mechanism, and WI I EREAS, the Board -has delerniined that it should obtain the funds from the Oakland Cot mry Revolving Fund., NOW THEREFORE I3E IT RRSOLVED that the Watimegah Lake improvement Board authothes the Chairperson of the Board to pursue the financing from the Oakland County Revolving Fund, in an amount not, to exceed 5150 70001 to be amortized according to the fonds generated by the SAD BE FURTHER RESOLVED that in an effort to es.pedit I!' _re pri..)jec4s, the Wnumnp,ah Lake Improvement Board authorizes the Chairperson of the Board to execute the nOcesNiry documents to SCCTIY.0 the funding from the Oakland County Revolving Fund. MEMO Based on the above information, it was moved hie Dr. Haduck and seconded by Mr. Kirby_ to adopt the foregoing resolution at a duly called meeting of the Waumegali Lake Iniprovement Board meeting held on October 20, 2003 Pa:4c 1 our .H),...:00.3 I. 831P.)090 #03311 October 30, 2003 The Chairperson referred the resolution to the Planning and Building Committee. There were no objections. FISCAL NOTE (MISC. #3311) December 11, 2003 BY: FINANCE COMMITTEE, CHUCK MOSS, CHAIRPERSON IN RE: WAUMEGAH LAKE IMPROVEMENT BOARD - REQUEST FOR $150,000 LOAN FROM LONG TERM REVOLVING FUND FOR AUGMENTATION WELL PROJECT 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 referenced resolution and finds: 1, The Waumegah Lake Improvement Board is recruestins a $150,000 loan from the Long-Term Revolving Fund to be used for the design and - construction of an augmentation well in order to properly attain and maintain the legal level for Waumegah Lake. 2. Miscellaneous Resolution No. 02019 authorized that monies be made available for loans to local units for amounts up to $150,000 for each project requested. 3. A contract between Oakland County and the Waumegah Lake Improvement Board is yet to be completed. The contract is to be reviewed by Corporation Counsel and is to contain the applicable interest rate and repayment schedule consistent with the County's loan policy. 4. The interest rate to be included in the contract is to be based on the prevailing six-month Treasury Bill rate at the time the contract is executed. 5. The augmentation well project will be managed by the Waumegah Lake Improvement Board and full repayment of the loan, with applicable interest, will come from the 10 year special assessment roll confirmed October 14, 2002 for this project. 6. Funding is currently available in the Long-Term Revolving Fund to issue a loan in the amount of $150,000 to the Waumegah Lake Improvement Board. 7. Management and Budget will not disburse funds until the contract is reviewed by Corporation Counsel and fully executed by the Chairperson of the Board of Commissioners. 8. No budget amendment is required. FINANCE COMMITTEE FINANCE COMMITTEE Motion carried on a roll call vote with Middleton voting no. I HEREBY APPROVE THE F, REGOING RESOLUTION 77 ail G. William Caddell, County Clerk Resolution #03311 December 11, 2003 Moved by Palmer supported by Bullard the resolution be adopted. Moved by Palmer supported by Bullard the Planning and Building Committee Report be accepted. A sufficient majority having voted therefore, the report was accepted. Moved by Palmer supported by Potter the resolution be amended to coincide with the recommendation in the Planning and Building Committee Report. A sufficient majority having voted therefore, the motion carried. Vote on resolution, as amended: AYES: Law, Long, McMillin, Moffitt, Moss, Palmer, Patterson, Potter, Rogers, Scott, Suarez, Webster, Wilson, Zack, Bullard, Coulter, Crawford, Douglas, Gregory, Hatchett, Jamian, Knollenberg, KowaII. (23) NAYS: None. (0) A sufficient majority having voted therefore, the resolution, as amended, 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 December 11, 2003 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 11th day of December, 2003. • • MISCELANEOUS RESOLUTION # 02019 February 21, 2002 BY: FINANCE COMMITTEE, SUE ANN DOUGLAS, CHAIRPERSON IN RE: DEPARTMENT OF MANAGEMENT & BUDGET/ DRAIN COMMISSIONER - APPROPRIATION LONG TERM REVOLVING FUND FOR WATER & SEWER PROJECTS FOR LOCAL UNITS OF GOVERNMENTS TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS Chairman, Ladies and Gentlemen: WHEREAS, pursuant to Act 342 of the Public Acts of 1939, as amended, ("Act 342"), the County, and local units of governments are authorized to enter into contracts for the acquisition, construction and financing of -pub-lia -worka-projeets; and WHEREAS Act 342 authorizes Oakland County to lend money to local units for such projects without selling bonds, which reduces the local unit's costs for the various improvements; and WHEREAS, pursuant to M. R. #92252, the Oakland County Board of Commissioners established a Long Term Revolving Fund for the purpose of assisting Oakland County communities for funding for certain projects, including water & sewer projects; and WHEREAS Miscellaneous Resolution #89276 provides that interest on loans and or advances on such projects should be computed and compounded quarterly. The rate of interest on the loans or advances should be at an interest rate no less than the prevailing six-month Treasury Bill rate; and WHEREAS requests by the local units for assistance of this type will be submitted by the Drain Commissioner and brought, with the terms of the loan, to the Oakland County Board of Commissioners for approval; and WHEREAS funds are available in the General Fund designated fund balance for drain records conversion (account #9407 76000). NOW THEREFORE BE IT RESOLVED the Oakland County Board of Commissioners affirms its commitment to assist local units of government by offering loans from the County's Long Term Revolving Fund to finance water or sewer projects that do not require the issuance of bonds. BE IT FURTHER RESOLVED that each project loan shall not exceed $150,000 for each project requested. BE IT FURTHER RESOLVED that the loan shall be evidenced by a inter- governmental agreement contract between Oakland County and the local unit of government that shall be approved by the Department of Corporation Counsel, and subject to approval of the Board of Commissioners. BE IT FURTHER RESOLVED that one million dollars be transferred from the Balance for drain records to the Long Term Revolving and sewer contracts for local improvements by the Board of Commissioners. that the FY 2002 Budget is amended as follows: designated General Fund Fund for approved water Oakland County BE IT FURTHER RESOLVED GENERAL FUND Revenue 90-190000-14000-1582 Expenditures 90-310000-21000-8001 DRAIN COMMISSIONER - Revenue 61-311397-10000-1701 Equity 61-311397-10000-8005 Prior Years Balance $1,000,000 Operating Transfer Out $1,000,000 0 LONG TERM REVOLVING FUND Operating Transfer In $1,000,000 Changes in Fund Equity $1,000,000 0 Chairperson, on behalf of the Finance Committee, I move the adoption of the foregoing resolution. NANCE COMMITTEE FINANCE COMMITTEE Motion carried unanimously on a roll call vote with Palmer an absent. cg-a_ brecht G. William Caddell, County Clerk • ' Resolution #02019 February 21, 2002 Moved by Douglas supported by Taub the resolution be adopted. AYES: Brian, Buckley, Causey-Mitchell, Coleman, Crawford, Dingeldey, Douglas, Galloway, Garfield, Gregory, Law, McPherson, Melton, Middleton, Moffitt, Moss, Obrecht, Patterson, Sever, Suarez, Taub, Webster, Amos, Appel. (24) NAYS: None. (0) A sufficient majority having voted therefore, the resolution was adopted. ' HFFIE8 '1-''' THE FOREGOING RESOLUTION Orwhyliatteroon. County Executive Date 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 February 21, 2002 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 21st day of February, 2002. FISCAL NOTE (4ISC. 13311) December 11, 2003 BY: FINANCE COMMITTEE, CHUCK MOSS, CHAIRPERSON IN RE: WAUMEGAH LAKE IMPROVEMENT BOARD - REQUEST FOR $150,000 LOAN FROM LONG TERM REVOLVING FUND FOR AUGMENTATION WELL PROJECT 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 referenced resolution and finds: 1. The Waumegah Lake Improvement Board is requesting a $150,000 loan from the Long-Term Revolving Fund to be used for the design and construction of an augmentation well in order to properly attain and maintain the legal level for Waumegah Lake. 2. Miscellaneous Resolution No. 02019 authorized that monies be made available for loans to local units for amounts up to $150,000 for each project requested. 3. A contract between Oakland County and the Waumegah Lake Improvement Board is yet to be completed. The contract is to be reviewed by Corporation Counsel and is to contain the applicable interest rate and repayment schedule consistent with the County's loan policy. 4. The interest rate to be included in the contract is to be based on the prevailing six-month Treasury Bill rate at the time the contract is executed. 5. The augmentation well project will be managed by the Waumegah Lake Improvement Board and full repayment of the loan, with applicable interest, will come from the 10 year special assessment roll confirmed October 14, 2002 for this project. 6. Funding is currently available in the Long-Term Revolving Fund to issue a loan in the amount of $150,000 to the Waumegah Lake Improvement Board. 7. Management and Budget will not disburse funds until the contract is reviewed by Corporation Counsel and fully executed by the Chairperson of the Board of Commissioners. 8. No budget amendment is required. FINANCE COMMITTEE FINANCE COMMITTEE Motion carried on a roll call vote with Middleton voting no. #03311 October 30, 2003 The Chairperson referred the resolution to the Planning and Building Committee. There were no objections. G. William Caddell, County Clerk Resolution #03311 December 11, 2003 Moved by Palmer supported by Bullard the resolution be adopted. Moved by Palmer supported by Bullard the Planning and Building Committee Report be accepted. A sufficient majority having voted therefore, the report was accepted. Moved by Palmer supported by Potter the resolution be amended to coincide with the recommendation in the Planning and Building Committee Report. A sufficient majority having voted therefore, the motion carried. Vote on resolution, as amended: AYES: Law, Long, McMillin, Moffitt, Moss, Palmer, Patterson, Potter, Rogers, Scott, Suarez, Webster, Wilson, Zack, Bullard, Coulter, Crawford, Douglas, Gregory, Hatchett, Jamian, Knollenberg, KowaII. (23) NAYS: None. (0) A sufficient majority having voted therefore, the resolution, as amended, was adopted. •••""" I HEREBY APPROVE THE F9REGOING RESOLUTION 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 December 11, 2003 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 11th day of December, 2003.