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HomeMy WebLinkAboutMinutes - 2007.01.04 - 36140MIKE ROGERS Chairperson EILEEN KOWALL Vice Chairperson HELAINE ZACK Minority Vice Chairperson January 4, 2007 Chairperson Moss called the meeting of the Finance Commit tee to order at 9:00 a.m., in the Board of Commissioners' Committee Room A, Commissioners' Wing, County Service Center, Pontiac, Michigan. COMMITTEE MEMBERS PRESENT Mike Rogers, Eileen Kowall, Helaine Zack, Sue Ann Douglas, Hugh Crawford, Tom Middleton, Christine Long, Jeff Potter, David Coulter, Helaine Zack, David Woodard, Tim Greimel COMMITTEE MEMBERS ABSENT None. OTHERS PRESENT EXECUTIVE OFFICE Gerald Poisson, Deputy Phil Bertolini, Deputy FISCAL SERVICES Tim Soave, Manager HUMAN SERVICES Tom Gordon, Director INFORMATION TECHNOLOGY Ed Poisson, Director MANAGEMENT & BUDGET Laurie Van Pelt, Director SHERIFF Mike McCabe, Undersheriff Dale Cunningham, Business Manager CITIZENS Elizabeth Sadowski Bruce Fealh Clara Meier Jayne Hamilton Woodruff Adams BOARD OF COMMISSIONERS Larry Doyle, Administrative Director Sheryl Mitchell, BOC Analyst Helen Hanger, Sr. Committee Coordinator PUBLIC COMMENT Mr. Fealh spoke in support of aligning the structure of the Finance Committee consistent with that of the Board. Mr. Adams commended the committee on its work and indicated that he hoped to see this process continue. OAKLAND COUNTY BOARD OF COMMISSIONERS 1200 N. TELEGRAPH ROAD, PONTIAC, MI 48341-0470 Telephone (248) 858 -0100 FAX (248) 858-1572 FINANCE COMMITTEE Sue Ann Douglas Hugh D. Crawford Tom Middleton Christine Long Jeff Potter David Coulter David Woodward Tim Greimel FINANCE COMMITTEE Page 2 January 4, 2007 REGULAR AGENDA 6. RESOLUTION AUTHORIZING THE INSERTION OF NOTICE OF IN TENTION OF THE COUNTY OF OAKLAND TO ISSUE RETIREES HEATLH CARE BONDS The resolution would authorize insertion of a Notice of Intention of the County of Oakland to Issue Retirees Health Care bonds, pursuant to Act 34, in the Oakland Press, Pontiac, Michiga n. This action is required to in order to expedite issuance of these bonds for the purpose of providing funding for the Health Care Trust Fund to pay for post-employment health care benefits for public employee retirees of the County of Oakland and to begin the clock ticking on the right of referendum . Ms. Van Pelt explained that the Notice will not be published until the Governor has signed the legislation. The Governor has until January 10 to do so. If the Law is signed, it is the Administration’s inte nt to bring three additional separate resolutions to the Board for consideration and approval. The first resolution will issue the bonds, the second resolution will set up the necessary intermediary trust fund to pass funds to the Retiree Health Care Trus t Fund and the third resolution will provide for the required continuing disclosure once the bonds are issued. Because the final legislation only allows bonding for 75% of the unfunded liability, the Administration is working on a plan to fu nd the remaining 25% liability. Crawford moved approval of the attached suggested Resolution. Supported by Middleton. Motion carried unanimously on a roll call vote. OTHER BUSINESS/ADJOURNMENT There being no other business to come before the committe e, the meeting was adjourned at 7:37 p.m. ________________________ _______________________________ Helen A. Hanger Lawrence M. Doyle Senior Committee Coordinator Administrative Director NOTE: The foregoing minutes are subject to Committee approval.