HomeMy WebLinkAboutMinutes - 2013.01.17 - 36691 January 17, 2013
Chairperson Middleton called the meeting of the Fina nce Committee to order at 9:02 a.m. in the Board
of Commissioners' Auditorium of the Commissioners' Auditorium Wing, County Service Center in
Pontiac, Michigan.
COMMITTEE MEMBERS PRESENT
Tom Middleton, Shelley Taub, Christine Long, John Scott, Kathy Crawford, Jeff Matis, Helaine Zack
COMMITTEE MEMBERS ABSENT WITH OUT NOTICE
David Woodward, Nancy Quarles
OTHERS PRESENT
EXECUTIVE OFFICE Robert Daddow, Deputy Executive
COMPLIANCE OFFICE Pam Weipert, Compliance Officer
Scott Guzzy, Purchasing Admin.
INFORMATION TECHNOLOGY Jamie Hess, CLEMIS Manager
MANAGEMENT & BUDGET Laurie Van Pelt, Director
Leo Lease, Financial Analyst
FISCAL SERVICES Tim Soave, Manager
Lynn Sonkiss, Chief
Gaia Piir, Supervisor
PROSECUTING ATTOR NEY Terri Meiers, Supervisor
SHERIFF’S OFFICE Mike McCabe, Undersheriff
Dale Cunningham, Business Manager
WATER RESOURCES COMMISSIONER Philip Sanzica, Chief Deputy
Joe Colaianne, Attorney/Insurance Admin.
THE OAKLAND PRESS John Turk, Journalist
BOARD OF COMMISSIONERS Jim Ver Ploeg, Administrative Director
Chris Ward, Senior Analyst
Pamela Worthington, Committee Coordinator
PLEDGE OF ALLEGIANCE
Chairperson Middleton led the Committee in the Pledge of Allegiance.
APPROVAL OF THE PREVIOUS MINUTES
Taub moved approval of the previous minutes o f December 6, 2012 as printed. Supported
by Zack.
Motion carried on a voice vote.
OAKLAND COUNTY BOARD OF COMMISSIONERS
1200 N. TELEGRAPH ROAD, PONTIAC, MI 48341-0475
Telephone (248) 858 -0100 FAX (248) 858-1572
FINANCE COMMITTEE
Christine Long
John Scott
Kathy Crawford
Jeff Matis
Helaine Zack
Nancy Quarles
TOM MIDDLETON
Chairperson
SHELLEY TAUB
Vice Chairperson
DAVE WOODWARD
Minority Vice Chairperson
FINANCE COMMITTEE Page 2
January 17, 2013
AGENDA
The agenda stands as printed.
PUBLIC COMMENT
None.
FY 2013/2014/2015 CONTINGENCY REPORT
The beginning Fiscal Year (FY) 2013 Contingency Fund balance is $245,971. There are no items on
today’s agenda that will affect the Contingency Fund balance.
Long moved to receive and file the FY 2013/2014/2015 Contingency Report dated January 9, 2013.
Supported by Taub.
Motion carried on a voice vote.
REGULAR AGENDA
1. TREASURER/WATER RESOURCES COMMISSIONER – JACOBS DRAINAGE DISTRICT
REFUNDING BONDS – FULL FAITH AND CREDIT RESOLUTION
The Jacobs Drainage District previously issued its Drain B onds, Series 2005A, dated December 15,
2005, in the principal amount of $2,760,000, to partially defray the cost of construction of the Jacobs
Drain, and the Oakland County Board of Commissioners adopted MR #05274 on December 8, 2005,
pledging the County’s full faith and credit for these bonds.
On December 18, 2012, the Drainage Board for the Jacobs Drain authorized the issuance of the
Jacobs Drain Refunding Bonds, Series 2013, in the aggregate principal amount of not to exceed
$2,125,000 to refund all or a porti on of the Series 2005A Bonds which will mature in the years 2014
through 2025.
The County Treasurer and the Water Resources Commissioner are seeking authorization to refinance
the Jacobs Drainage District Drain Bonds, pursuant to Section 474 of the Dra in Code of 1956, as
amended. The Jacobs Drain Refunding Bonds, Series 2013 will have an aggregate principal amount
not to exceed $2,125,000, to refund all or a portion of the Series 2005A Bonds, have the full faith and
credit of the County and bear an inte rest rate not to exceed 6% per annum. They shall be subject to
redemption prior to maturity as determined by order of the Chairperson for the Drainage Board. This
will result in considerable savings for the Charter Township of West Bloomfield.
Scott moved approval of the attached suggested resolution. Supported by Long.
Motion carried unanimously on a roll call vote with Woodward and Quarles absent.
2. TREASURER/WATER RESOURCES COMMISSIONER – REWOLD DRAINAGE DISTRICT
REFUNDING BONDS – FULL FAITH AND CREDIT RESOLUTION
The Rewold Drainage District previously issued its Drain Bonds, Phase II Drain Improvements, Series
2005, dated August 1, 2005 in the principal amount of $3,2 35,000, and the Oakland County Board of
Commissioners pledged the full faith and credit of the County for the prompt payment of the principal of
and interest on the Series 2005 Bonds.
FINANCE COMMITTEE Page 3
January 17, 2013
On December 18, 2012, the Drainage Board for the Rewold Drain authorized the issuance of its Rewold
Drain Refunding Bonds, Series 2013, in the aggrega te principal amount of not to exceed $2,450,000 to
refund all or a portion of the Series 2005 Bonds maturing in the years 2014 through 2025.
The County Treasurer and the Water Resources Commissioner are seeking authorization to refinance
the Rewold Draina ge District Drain Bonds, pursuant to Section 474 of the Drain Code of 1956, as
amended. The Rewold Drainage District Refunding Bonds, Series 2013 , will have an aggregate
principal amount not to exceed $2,450,000, to refund all or a portion of th e Series 2005 Bonds, have
the full faith and credit of the County, and bear an interest rate not to exceed 6% per annum. The
Bonds shall be subject to redemption prior to maturity as determined by order of the Chairperson for the
Drainage Board. This will result in considerable savings for the City of Rochester Hills.
Matis moved approval of the attached suggested resolution. Supported by Long.
Motion carried unanimously on a roll call vote with Woodward and Quarles absent.
3. APPOINTMENT TO AUDIT SUBCOMMITTEE
Chairperson Middleton appointed Shelley Taub, Chairperson , Jeff Matis and David Woodward as
members to the Audit Subcommittee.
COMMUNICATIONS
A. Department of Management and Budget/Purchasing Division – Contract Exception Report for the
Month of January 2013
B. County Executive Memorandum – Program Audit of 9 -1-1 Funds
C. County Executive Memorandum – Information Request – Cost of Bond Attorney/Financial Advisor
for 2007 COPS Issuance
D. Health & Human Services/Homeland Security Division – FY 2013 Hazardous Materials Emergency
Preparedness (HMEP) Application
E. Economic Development & Community Affairs Dept., Community & Home Improvement Division –
Michigan State Housing Development Authority’s (MSHDA’s) Homeownership Counseling Program
– Grant Application
Matis moved to receive and file the communications. Supported by Crawford.
Motion carried on a voice vo te.
OTHER BUSINESS/ADJOURNMENT
Chairperson Middleton requested that in the future, if anyone has a question about an item on the
Exception Report, let him know prior to the meeting, and he will arrange for an appropriate department/staff
person to appear before the Finance Committee to answer questions. If it is brought up during the Finance
Committee meeting, then he will take a ten -minute recess to allow an appropriate department
representative time to appear before the Finance Committee to answer questions.
Mr. Daddow indicated that he had e-mailed an Interim Framework document to all commissioners regarding
a long-range County fiscal plan. He requested that he have about a half an hour of time allotted on the next
Finance Committee meeting agenda to present this to the Finance Committee. He gave a brief synopsis of
the issues he will be addressing.
FINANCE COMMITTEE Page 4
January 17, 2013
There being no other business to come before the comm ittee, the meeting was adjourned at 9:23 a.m.
________________________ _______________________________
Pamela Worthington Jim VerPloeg
Committee Coordinator Administrative Director
NOTE: The foregoing minutes are subject to Committee approval.