HomeMy WebLinkAboutResolutions - 2005.10.06 - 27984MISCELLANEOUS RESOLUTION #05240 October 6, 2005
BY: FINANCE COMMITTEE, CHUCK MOSS, CHAIRPERSON
IN RE: TREASURER'S OFFICE/DEPARTMENT OF INFORMATION TECHNOLOGY/CLEMIS -
REQUEST FOR AUTHORIZATION TO BORROW AGAINST THE DELINQUENT TAX REVOLVING FUND
(DTRF) FOR THE RADIO PROJECT
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Chairperson, Ladies and Gentlemen:
WHEREAS the Board of Commissioners authorized MR #98308 recognizing the
need to upgrade and expand the 800mhz radio system to enhance the public
safety communications and address interoperability requirements; and
WHEREAS the implementation of the Radio Project for the new 821mhz
radio system, forecasted financials statements have been presented to include
known exposures and costs relating to the construction of the new radio
system; and
WHEREAS the forecasted financial statements were used to determine the
cash available for use in funding the construction of the system after
covering the operational costs; and
WHEREAS the estimated capital cost is $42.2 million to construct the
system and also included a provision of $1.0 million in contingency which has
been used to cover added costs associated with additional equipment, tower
overages, and professional services incurred; and
WHEREAS the funding from the projected cash flows from the Radio
Communications fund and an advance from the Delinquent Tax Revolving
Fund(DTRF)of $3,450,000 will cover various capital costs to complete the
system; and
WHEREAS the Delinquent Tax Revolving Fund Agent has determined
sufficient monies are available to loan to the county; and
WHEREAS the advance of up to $3,450,000 will be drawn down from the
Delinquent Tax Revolving Fund as authorized by the Agent for the DTRF and
repayment made during the period of FY 2006 and FY 2007. Interest on the
repayment will be based on the average monthly rate paid during the term of
the loan by the agent of the DTRF for that years estimated borrowing; and
WHEREAS a budget for interest expense has been included in the
FY 2006 and FY 2007 Recommended Budget for the Radio Communications fund.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of
Commissioners authorizes an advance of $3,450,000 from the Delinquent Tax
Revolving Fund to the Radio Communications Fund to cover associated capital
costs to ensure the satisfactory completion of the new radio communications
system.
Chairperson, on behalf of the Finance Committee, I move the adoption of
the foregoing resolution.
FINANCE COMMITTEE
C1/741-u(
FINANCE COMMITTEE
Motion carried unanimously on a roll call vote with Jamian absent.
EON.
Resolution #05240 October 6, 2005
Moved by Moss supported by Zack the resolution be adopted.
AYES: Gregory, Hatchett, Jamian, KowaII, Long, Melton, Middleton, Molnar, Moss, Nash,
Palmer, Patterson, Potter, Rogers, Scott, Suarez, Wilson, Woodward, Zack, Bullard, Coulter,
Crawford, Douglas, Gershenson. (24)
NAYS: None. (0)
A sufficient majority having voted in favor, the resolution was adopted.
I HEREBY APPROVE THE FORr"'"G RESOLUTION
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Ruth Johnson, 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 October 6, 2005,
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 October, 2005.
Ruth SOrniotr, County Clerk