HomeMy WebLinkAboutResolutions - 2003.03.06 - 27209Miscellaneous Resolution #03032 March 6, 2003
BY: FINANCE COMMITTEE
CHUCK MOSS, CHAIRPERSON
IN RE: TREASURER - RESOLUTION TO AUTHORIZE OAKLAND COUNTY
WATERFORD IRON REMOVAL FACILITIES REFUNDING BONDS,
SERIES 2003
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS, pursuant to the provisions of Act No. 342, Public Acts of Michigan,
1939, as amended ("Act 342"), the County of Oakland (the "County") has issued its
County of Oakland Waterford Iron Removal Facilities Bonds, Series 1992-A, dated
July 1, 1992 (the "1992 Prior Bonds"), in the original principal amount of $6,000,000 to
defray part of the cost of acquiring and constructing the Waterford Water Supply System
Iron Removal Water Treatment Facilities pursuant to the Waterford Water Supply
System Iron Removal Water Treatment Facilities Contract (the "1991 Contract") dated
as of October 1, 1991, between the Charter Township of Waterford (the "Municipality")
and the County; and
WHEREAS, the 1992 Prior Bonds remain outstanding in the aggregate principal
amount of $2,900,000, mature in various principal amounts on May 1 in the years 2003
through 2007 and bear interest at rates per annum that vary from 5.90% to 6.15%; and
WHEREAS, Act No. 34, Public Acts of Michigan, 2001, as amended ("Act 34")
authorizes the County to refund all or any part of the outstanding 1992 Prior Bonds; and
WHEREAS, the County received a request from the Municipality to refund all or
part of the outstanding 1992 Prior Bonds; and
FINANCE COMMITTEE
Motion carried unanimously on a roll call vote with Obrecht, Palmer, Patterson and Zack
absent.
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WHEREAS, it is in the best interests of the County and the Municipality that the
1992 Prior Bonds be refunded.
NOW, THEREFORE, BE IT RESOLVED:
1. AUTHORIZATION OF BONDS — PURPOSE. Bonds of the County (the
"Refunding Bonds") aggregating the principal sum of not to exceed Two Million Six
Hundred Fifty Thousand Dollars ($2,650,000) shall be issued and sold pursuant to the
provisions of Act 34, and other applicable statutory provisions, for the purpose of
refunding all or part of the outstanding 1992 Prior Bonds.
2. BOND DETAILS. The Refunding Bonds shall be designated Oakland
County Waterford Iron Removal Facilities Refunding Bonds, Series 2003; shall be in the
principal amount and shall be dated as of such date as shall be determined by County
Drain Commissioner as County Agency under Act 342, 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 purchaser thereof; shall bear interest at a
rate or rates not exceeding 6% per annum to be determined upon the sale thereof
payable on such dates as shall be determined at the time of sale; and shall mature on
such dates and in such amounts as shall be determined at the time of sale.
3. PAYMENT OF PRINCIPAL AND INTEREST. The principal of and interest
on the Refunding Bonds shall be payable in lawful money of the United States.
Principal shall be payable upon presentation and surrender of the bonds to the bond
registrar and paying agent as they severally mature. Interest shall be paid to the
registered owner of each bond as shown on the registration books at the close of
business on the fifteenth day of the calendar month preceding the month in which the
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interest payment is due. Interest shall be paid when due by check or draft drawn upon
and mailed by the bond registrar and paying agent to the registered owner at the
registered address.
4. BOOK-ENTRY SYSTEM. Initially, one fully-registered bond for each
maturity, in the aggregate amount of such maturity, shall be issued in the name of
Cede & Co., as nominee of The Depository Trust Company ("DTC") for the benefit of
other parties (the "Participants") in the book-entry-only transfer system of DTC. In the
event the County determines that it is in the best interest of the County not to continue
the book-entry system of transfer or that the interests of the holders of the Refunding
Bonds might be adversely affected if the book-entry system of transfer is continued, the
County may notify DTC and the bond registrar and paying agent, whereupon DTC will
notify the Participants of the availability through DTC of bond certificates. In such event,
the bond registrar and paying agent shall deliver, transfer and exchange bond
certificates as requested by DTC and any Participant or "beneficial owner" in
appropriate amounts in accordance with this Resolution. DTC may determine to
discontinue providing its services with respect to the Refunding Bonds at any time by
giving notice to the County and the bond registrar and paying agent and discharging its
responsibilities with respect thereto under applicable law or the County may determine
that DTC is incapable of discharging its duties and may so advise DTC. In either such
event, the County shall use reasonable efforts to locate another securities depository.
Under such circumstances (if there is no successor securities depository), the County
and the bond registrar and paying agent shall be obligated to deliver bond certificates in
accordance with the procedures established by this Resolution. In the event bond
certificates are issued, the provisions of this Resolution shall apply to, among other
things, the transfer and exchange of such certificates and the method of payment of
principal of and interest on such certificates. Whenever DTC requests the County and
the bond registrar and paying agent to do so, the County and the bond registrar and
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paying agent shall cooperate with DTC in taking appropriate action after reasonable
notice to make available one or more separate certificates evidencing the Refunding
Bonds to any Participant having Refunding bonds certified to its DTC account or to
arrange for another securities depository to maintain custody of certificates evidencing
the Refunding Bonds.
Notwithstanding any other provision of this Resolution to the contrary, so long as
any Refunding Bond is registered in the name of Cede & Co., as nominee of DTC, all
payments with respect to the principal of, interest on and redemption premium, if any,
on such Refunding Bonds and all notices with respect to the Refunding Bonds shall be
made and given, respectively, to DTC as provided in the Blanket Issuer Letter of
Representations between DTC and the County. The County Agency or the County
Treasurer is authorized to sign the Letter of Representations on behalf of the County, in
such form as the County Agency or the County Treasurer deems necessary or
appropriate, in order to accomplish the issuance of the Refunding Bonds in accordance
with law and this Resolution.
5. PRIOR REDEMPTION. The Refunding Bonds shall be subject to
redemption prior to maturity upon such terms and conditions as shall be determined by
the Drain Commissioner as County Agency at the time of sale.
6. BOND REGISTRAR AND PAYING AGENT. The County Treasurer shall
designate and enter into an agreement with a bond registrar and paying agent for the
Refunding Bonds that shall be a bank or trust company located in the State of Michigan
that is qualified to act in such capacity under the laws of the United States of America or
the State of Michigan. The Treasurer may from time to time as required designate a
similarly qualified successor bond registrar and paying agent.
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7. EXECUTION, AUTHENTICATION AND DELIVERY OF REFUNDING
BONDS. The Refunding 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 Refunding Bonds. After the Refunding Bonds have
been executed and authenticated, they shall be delivered by the County Treasurer to
the purchaser upon receipt of the purchase price. Additional Refunding 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 the Refunding Bonds. The
bond registrar and paying agent shall indicate on each Refunding Bond the date of its
authentication.
8. EXCHANGE AND TRANSFER OF REFUNDING BONDS. Any Refunding
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 Refunding 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 Refunding Bond.
Each Refunding 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 Refunding 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.
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Upon the exchange or transfer of any Refunding Bond, the bond registrar and
paying agent on behalf of the County shall cancel the surrendered Refunding Bond and
shall authenticate and deliver to the transferee a new Refunding 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 Refunding Bond. If, at the time the
bond registrar and paying agent authenticates and delivers a new Refunding Bond
pursuant to this section, payment of interest on the Refunding Bonds is in default, the
bond registrar and paying agent shall endorse upon the new Refunding 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 Refunding Bond shall be registered upon the books of the
County as the absolute owner of such Refunding Bond, whether such Refunding Bond
shall be overdue or not, for the purpose of receiving payment of the principal of and
interest on such Refunding 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 Refunding 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 Refunding 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
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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 Refunding Bonds or portions of Refunding Bonds that have been selected for
redemption.
9. FORM OF REFUNDING BONDS. The Refunding Bonds shall be in
substantially the following form:
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UNITED STATES OF AMERICA
STATE OF MICHIGAN
COUNTY OF OAKLAND
OAKLAND COUNTY WATERFORD IRON REMOVAL FACILITIES
REFUNDING BOND, SERIES 2003
INTEREST RATE MATURITY DATE DATE OF ORIGINAL ISSUE CUSIP
Registered Owner:
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 on the
Maturity Date specified above, unless redeemed prior thereto as hereinafter provided,
upon presentation and surrender of this bond at
the bond registrar and paying agent, or at such successor bond registrar and paying
agent as may be designated pursuant to the Resolution, and to pay to the Registered
Owner as shown on the registration books at the close of business on the 1 5 tn 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 on
such Principal Amount from , or such later date through which
interest has been paid until the County's obligation with respect to the payment of such
Principal Amount is discharged, at the rate per annum specified above. Interest is
payable on the first days of May and November in each year, commencing on
1, . Principal and interest are payable in lawful money of the United
States of America.
This bond is one of a series of bonds aggregating the principal sum of
Thousand Dollars ($
issued by the County under and pursuant to and in full conformity with the Constitution
and Statutes of Michigan (especially Act No. 34, Public Acts of 2001, as amended) and
a resolution adopted by the Board of Commissioners of the County (the "Resolution")
and an order of the Drain Commissioner of the County as County Agency for the
purpose of refunding the outstanding County of Oakland Waterford Iron Removal
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Facilities Bonds, Series 1992-A, dated July 1, 1992, maturing in the years
through . The bonds of this series are issued in anticipation of, and the principal
of and interest on the bonds are payable from, moneys to be received by the County
from the Charter Township of Waterford (the "Municipality") in payment of its obligations
under a certain contract dated as of October 1, 1991 between the Municipality and the
County. The full faith and credit of the Municipality have been pledged for the making
of such payments. As additional security for the payment of the principal of and interest
on the bonds of this series the full faith and credit of the County have been pledged.
Taxes imposed by the Municipality and the County are subject to constitutional tax rate
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.
Bonds maturing prior to , are not subject to redemption prior to
maturity. Bonds maturing on and after , are subject to redemption
prior to maturity at the option of the County, in such order as shall be determined by the
County, on any one or more interest payment dates on and after
Bonds of a denomination greater than $5,000 may be partially redeemed in the amount
of $5,000 or any integral multiple thereof. If less than all of the bonds maturing in any
year are to be redeemed, the bonds or portions of bonds 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 and a
premium as follows:
% of the par value if called for redemption on or after 1,
, but prior to 1, ;
% of the par value if called for redemption on or after 1,
, but prior to 1, ;
% of the par value if called for redemption on or after 1,
, but prior to 1,
Not less than thirty days' notice of redemption shall be given to the registered
owners of bonds called to be redeemed by mail to each registered owner at the
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registered address. Bonds or portions of bonds called for redemption shall not bear
interest on and after the date fixed for redemption, provided funds are on hand with the
bond registrar and paying agent to redeem the same.
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 the 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, State of 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
By:
Chairman, Board of Commissioners
[SEAL]
And:
County Clerk
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CERTIFICATE OF AUTHENTICATION
This bond is one of the bonds described in the within mentioned Resolution.
Bond Registrar and Paying Agent
By:
Authorized Representative
AUTHENTICATION DATE:
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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 hereby irrevocably constitutes
and appoints
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.
[END OF BOND FORM]
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10. SECURITY The Refunding Bonds shall be issued in anticipation of the
payments to be made by the Municipality pursuant to the Contract. As additional
security the full faith and credit of the County of Oakland are hereby pledged for the
prompt payment of the principal of and interest on the Refunding Bonds as the same
shall become due. If the Municipality shall fail to make payments to the County that are
sufficient to pay the principal of and interest on the Refunding Bonds as the same shall
become due, then an amount sufficient to pay the deficiency shall be advanced from the
general fund of the County.
11. 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 Refunding Bonds or any portion of the Refunding Bonds, shall have been
deposited in trust, this Bond Resolution shall be defeased with respect to such
Refunding Bonds and the owners of the Refunding Bonds shall have no further rights
under this Bond Resolution except to receive payment of the principal of, premium if
any, and interest on the Refunding Bonds from the cash or securities deposited in trust
and the interest and gains thereon and to transfer and exchange Refunding Bonds as
provided herein.
12. PRINCIPAL AND INTEREST FUND. There shall be established for the
Refunding Bonds a Principal and Interest Fund that shall be kept in a separate bank
account. From the proceeds of the sale of the Refunding Bonds there shall be set aside
in the Principal and Interest Fund any premium and accrued interest received from the
purchaser of the Refunding Bonds at the time of delivery of the same. All payments
received from the Municipality pursuant to the Contract are pledged for the payment of
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the principal of and interest on the 1992 Prior Bonds that are not refunded and the
Refunding Bonds and expenses incidental thereto and as received shall be placed in
the Principal and Interest Fund or the principal and interest funds for the 1992 Prior
Bonds as appropriate. The County Agency shall transfer moneys in the Principal and
Interest Fund to the bond registrar and paying agent for the 1992 Prior Bonds and the
bond registrar and paying agent for the Refunding Bonds as necessary for the payment
of the principal of and interest on the 1992 Prior Bonds that are not refunded and the
Refunding Bonds.
13. PAYMENT OF ISSUANCE EXPENSES - ESCROW FUND. The
remainder of the proceeds of the Refunding Bonds shall be used to pay the issuance
expenses of the Refunding Bonds and to establish an escrow fund for the 1992 Prior
Bonds that are refunded. After the issuance expenses have been paid or provided for
the remaining proceeds shall be used to establish an escrow fund (the "Escrow Fund")
consisting of cash and investments in direct obligations of, or obligations the principal of
and interest on which are unconditionally guaranteed by, the United States of America
or other obligations the principal of and interest on which are fully secured by the
foregoing and used to pay the principal of, interest on and redemption premiums on the
1992 Prior Bonds that are refunded. The Escrow Fund shall be held by a trustee (the
"Trustee") in trust pursuant to an escrow agreement (the "Escrow Agreement") that
irrevocably shall direct the Trustee to take all necessary steps to pay the interest on the
1992 Prior Bonds that are refunded when due and to call such 1992 Prior Bonds for
redemption at such time as shall be determined in the Escrow Agreement. The County
Treasurer shall select the Trustee and enter into the Escrow Agreement with the
Trustee on behalf of the County. The amounts held in the Escrow Fund shall be such
that the cash and the investments and the income received thereon will be sufficient
without reinvestment to pay the principal of, interest on and redemption premiums on
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the 1992 Prior Bonds that are refunded when due at maturity or call for redemption as
required by the Escrow Agreement.
14. APPROVAL OF DEPARTMENT OF TREASURY. The issuance and sale
of the Refunding Bonds shall be subject to permission being granted therefor by the
Department of Treasury of the State of Michigan under Act 34; and the County Agency,
the County Treasurer, or a representative of Municipal Financial Consultants
Incorporated, the financial consultant for the County, shall, if necessary, file a qualifying
statement with the Michigan Department of Treasury or make application to the
Department of Treasury for permission to issue and sell the Refunding Bonds as
provided by the terms of this Resolution.
15. SALE, ISSUANCE, DELIVERY, TRANSFER AND EXCHANGE OF
REFUNDING BONDS. The County Agency shall determine the principal amount of the
Refunding Bonds to be sold and shall determine the other bond details as described in
Section 2 hereof and the terms and conditions for prior redemption as described in
Section 5 hereof. The County Agency shall prescribe the form of Notice of Sale for the
Refunding Bonds and shall publish the notice in accordance with law in a publication to
be selected by the County Agency. The County Agency and the County Treasurer and
other County officials are authorized to do all things necessary to effectuate the sale,
issuance, delivery, transfer and exchange of the Refunding Bonds in accordance with
the provisions of this Resolution.
16. REPLACEMENT OF REFUNDING BONDS. Upon receipt by the County
Treasurer of proof of ownership of an unmatured Refunding Bond, of satisfactory
evidence that the Refunding Bond has been lost, apparently destroyed or wrongfully
taken and of security or indemnity that complies with applicable law and is satisfactory
to the Treasurer, the Treasurer may authorize the bond registrar and paying agent to
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deliver a new executed Refunding Bond to replace the bond lost, apparently destroyed
or wrongfully taken in compliance with applicable law. In the event an outstanding
matured Refunding Bond is lost, apparently destroyed or wrongfully taken, the
Treasurer may authorize the bond registrar and paying agent to pay the Refunding
Bond without presentation upon the receipt of the same documentation required for the
delivery of a replacement Refunding Bond. The bond registrar and paying agent, for
each new Refunding Bond delivered or paid without presentation as provided above,
shall require the payment of expenses, including counsel fees, that may be incurred by
the bond registrar and paying agent and the County in the premises. Any Refunding
Bond delivered pursuant the provisions of this Section 16 in lieu of any Refunding Bond
lost, apparently destroyed or wrongfully taken shall be of the same form and tenor and
be secured in the same manner as the Refunding Bond in substitution for which such
Refunding Bond was delivered.
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 Refunding Bonds will be and will remain excludable from gross income
for federal income tax purposes. The County Agency is authorized to do all things
necessary to assure that the interest on the Refunding Bonds will be and will remain
excludable from gross income for federal income tax purposes.
18. OFFICIAL STATEMENT. The County shall cause the preparation of an
official statement for the Refunding Bonds for the purpose of enabling compliance with
Rule 15c2-12 issued under the Securities Exchange Act of 1934, as amended (the
"Rule") and shall do all other things necessary to enable compliance with the Rule.
After the award of the Refunding Bonds, the County will provide copies of a "final official
statement" (as defined in paragraph (e)(3) of the Rule) on a timely basis and in
reasonable quantity as requested by the successful bidder or bidders to enable such
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bidder or bidders to comply with paragraph (b)(4) of the Rule and the rules of the
Municipal Securities Rulemaking Board.
19. CONTINUING DISCLOSURE. The County Treasurer is hereby
authorized to execute and deliver in the name and on behalf of the County (i) a
certificate of the County to comply with the requirements for a continuing disclosure
undertaking of the County pursuant to subsection (b)(5) of the Rule and (ii)
amendments to such certificate from time to time in accordance with the terms of such
certificate (the certificate and any amendments thereto are collectively referred to herein
as the "Continuing Disclosure Certificate"). The County hereby covenants and agrees
that it will comply with and carry out all of the provisions of the Continuing Disclosure
Certificate. The remedies for any failure of the County to comply with and carry out the
provisions of the Continuing Disclosure Certificate shall be as set forth therein.
20. CONFLICTING RESOLUTIONS. All resolutions and parts of resolutions
insofar as they may be in conflict herewith are hereby rescinded.
Mr. Chairperson, on behalf of the Finance Committee, I move adoption of the
foregoing resolution.
FINANCE COMMITTEE
BLOOMFIELD 9007-338 530810 2/1312003
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4s L B
p • 4
Resolution #03032 March 6, 2003
Moved by Jamian supported by Coulter the resolutions on the Consent Agenda, be adopted.
AYES: Coulter, Crawford, Douglas, Gregory, Hatchett, Jamian, Knollenberg, KowaII, Law, Long,
McMillin, Middleton, Moffitt, Moss, Palmer, Patterson, Potter, Rogers, Scott, Suarez, Zack,
Bullard, Coleman. (23)
NAYS: None. (0)
A sufficient majority having voted therefore, the resolutions on the Consent Agenda, were adopted.
AP
• E FOREGOING RESOLLI
arson, 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 March 6, 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 6th day of March, 2003.
74 "WW.,re it 4r
G. William Caddell, County C er