HomeMy WebLinkAboutResolutions - 2026.06.11 - 42981
AGENDA ITEM: Authorize the Issuance of Bonds for the Pontiac Woodward Loop Sewage Disposal
Improvement Project
DEPARTMENT: Water Resources Commissioner
MEETING: Board of Commissioners
DATE: Thursday, June 11, 2026 6:00 PM - Click to View Agenda
ITEM SUMMARY SHEET
COMMITTEE REPORT TO BOARD
Resolution #2026-6588 _ 26-26
Motion to adopt the attached suggested resolution.
ITEM CATEGORY SPONSORED BY
Bonds Yolanda Smith Charles
INTRODUCTION AND BACKGROUND
The City of Pontiac Sewage Disposal System, which is in need of significant repairs and
improvements, is owned by Oakland County and operated and maintained by the Water Resources
Commissioner (WRC) as the county’s agent. The necessary repairs and improvements will be
included in a project encompassing a wide range of services and activities, including planning and
professional services, permitting and property acquisition, as well as construction activities and
environmental and geotechnical measures, along with any other activities necessary to successfully
complete the project. For convenience, efficiency, and cost savings, the WRC is coordinating with
the Michigan Department of Transportation (MDOT) to incorporate the improvements into MDOT's
concurrent roadway project.
POLICY ANALYSIS
To fund these enhancements, the Water Resources Commissioner is requesting the issuance of
bonds not to exceed an aggregate principal amount of $5,500,000. These bonds will be secured by
the County’s full faith and credit pledge and repaid through system revenues.
Strategically, these improvements are centered within the "Woodward Loop" to coincide with the
Michigan Department of Transportation’s (MDOT) current roadway conversion project. MDOT is
scheduled to begin receiving bids for this work on July 10, 2026, with a projected completion
timeline of two to three years.
By upgrading the sewage system concurrently with MDOT’s transition of the Loop to a two-way
roadway, the County will capitalize on a critical infrastructure window. This coordination eliminates
the need for future traffic interruptions and prevents the significant, redundant expense of
excavating newly laid concrete once the roadway project is finalized.
A primary challenge for this project involves obtaining the necessary easements for sanitary sewer
and water main work. A portion of current costs is tied to the Bat Zone property, where the County
must relocate an existing sewer situated beneath the building and abandon an internal manhole.
While the County has already secured the right of entry to perform this work, final payment
negotiations with the property owner are ongoing. The budget also accounts for associated
professional fees for property appraisers and legal counsel. Given the complexity of urban
infrastructure, the "Right of Way" line item in the budget includes these costs.
The Notice of Intent for this item was approved April 8, 2026 through Resolution #2026-6326 _ 26-
12.
FISCAL IMPACT:
Committee members can contact Barbara Winter, Policy and Fiscal Analysis Supervisor at
248.821.3065 or winterb@oakgov.com or the department contact persons listed for additional
information.
CONTACT
Ben Lewis
Mike Walsh
Eric McGlothlin
Steven Burke
ITEM REVIEW TRACKING
Aaron Snover, Board of Commissioners Created/Initiated - 6/11/2026
David Woodward, Board of Commissioners Approved - 6/11/2026
Walt Herzig, Executive's Office Approved - 6/17/2026
Lisa Brown, Clerk/Register of Deeds Final Approval - 6/23/2026
AGENDA DEADLINE: 05/28/2026 4:30 PM
ATTACHMENTS
1. Exhibit A
2. 2026-06-03 Memo Pontiac Woodward Loop Improvements
3. Project Cost Estimate
4. Map of Pontiac Woodward Loop Sewer Improvement Area
COMMITTEE TRACKING
2026-06-03 Economic Development & Infrastructure - Forward to Finance
2026-06-03 Finance - Recommend to Board
2026-06-11 Full Board - Adopt
Motioned by: Commissioner Michael Gingell
Seconded by: Commissioner Robert Hoffman
Yes: Charles Cavell, Ann Erickson Gault, Michael Gingell, Marcia Gershenson, Robert Hoffman,
Brendan Johnson, Karen Joliat, Christine Long, Penny Luebs, Gwen Markham, William Miller III,
Kristen Nelson, Angela Powell, Robert Smiley, Yolanda Smith Charles, Michael Spisz, Linnie
Taylor, Philip Weipert, David Woodward (19)
No: None (0)
Abstain: None (0)
Absent: (0)
Passed
June 11, 2026
RESOLUTION #2026-6588 _ 26-26
Sponsored By: Yolanda Smith Charles
Water Resources Commissioner - Authorize the Issuance of Bonds for the Pontiac Woodward
Loop Sewage Disposal Improvement Project
Chair and Members of the Board:
WHEREAS the Board of Commissioners of the County of Oakland (the “County”) has determined that it is necessary to
acquire, construct, and install capital improvements to sewage disposal system facilities constituting a part of the County’s
City of Pontiac Sewage Disposal System (the “System”) to serve the users of the System and the residents of the County,
which improvements shall include without limitation the removal and replacement of various segments of System including
manholes and other System structures and appurtenances, point repairs, structural rehabilitation, lining, and grouting,
abandonment and realignment of various segments of System, removal and replacement of pavement and sidewalk, site
clearing, temporary earth retention systems, environmental monitoring, geotechnical monitoring, traffic control, temporary
soil and sedimentation control, sewage bypass and any other bypass of existing utilities required to complete the project,
spoils and other disposal, and improvements to related facilities as well as all work necessary and incidental to these
improvements, including without limitation the restoration of property, streets, rights of way, and easements affected by the
improvements, and such other System improvements as the County Water Resources Commissioner, acting as County
Agency for the County, shall determine to make (collectively, the “Project”), and paying the costs of issuing the bonds
through the issuance of bonds pursuant to the provisions of Act 34, Public Acts of Michigan, 2001, as amended (“Act 34”);
and
WHEREAS on April 19, 2026, the County published notice of intent to issue bonds in The Oakland Press as required by
section 517 of Act 34; and
WHEREAS the cost of the Project is estimated to be $5,500,000; and
WHEREAS the Board of Commissioners has determined to issue bonds and to use the proceeds of the sale of such bonds
to finance all or part of the cost of the Project; and
WHEREAS the County has agreed in a Continuing Covenant Agreement dated as of September 27, 2013, between the
County and Bank of America, N.A. (the “Bank of America Continuing Covenant Agreement”) to provide to Bank of America,
N.A. certain information pursuant to Article VI, Section 6.05 (f) of the Bank of America Continuing Covenant Agreement
which relates to a final official statement or other offering or disclosure document prepared in connection with an offering of
securities by the County.
NOW THEREFORE BE IT RESOLVED by the Board of Commissioners of the County of Oakland, Michigan, as follows:
1. AUTHORIZATION OF BONDS – PURPOSE. Bonds of the County aggregating the principal sum of not to exceed
Five Million Five Hundred Thousand Dollars ($5,500,000) shall be issued and sold in one or more series for the
purpose of defraying all or part of the cost of the Project.
2. BOND DETAILS. Each series of bonds shall be designated “Sewage Disposal System Capital Improvement Bonds”
with such other title or with such additional series designation as may be determined by the County Water Resources
Commissioner, acting as County Agency for the County (the “County Agency”), at the time of sale of the bonds; shall
be dated as of the date approved by the County Agency; shall be issued in such aggregate principal amount as
determined by the County Agency; 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 as
shall be determined by the County Agency; shall be used to pay for such portion of the Project as determined by the
County Agency; shall be payable as to interest on such dates as shall be determined by the County Agency; and
shall be serial bonds and/or term bonds and mature in such amounts and on such dates and in such years as shall
be determined by the County Agency; provided, however, that the final maturity of any series of bonds shall not be
later than 21 years after its date of issuance. If requested by the original purchaser of the bonds and determined by
the County Agency, the bonds may be issued in the form of a single bond with an exhibit containing the principal
maturity amounts and applicable interest rates and due dates.
3. PAYMENT OF PRINCIPAL AND INTEREST. The principal of and interest on the 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 or otherwise as determined by the County Agency. Interest shall
be paid to the registered owner of each bond as shown on the registration books at the close of business on the 15th
day of the calendar month preceding the month in which the interest payment is due. Interest shall be paid when due
by wire transfer or other electronic means or by check or draft mailed by the bond registrar and paying agent to the
registered owner at the registered address or otherwise as determined by the County Agency.
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 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 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 paying agent shall cooperate with DTC in taking appropriate
action after reasonable notice to make available one or more separate certificates evidencing the bonds to any
Participant having bonds certified to its DTC account or to arrange for another securities depository to maintain
custody of certificates evidencing the bonds.
Notwithstanding any other provision of this Resolution to the contrary, so long as any 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 bonds and all notices with respect to the bonds shall be made and given, respectively, to DTC as
provided in the Blanket Issuer Letter of Representations relating to the bonds. The County Treasurer and the County
Agency are each authorized to sign the Blanket Issuer Letter of Representations on behalf of the County, in such form
as such officer deems necessary or appropriate in order to accomplish the issuance of the bonds in accordance with
law and this Resolution.
Notwithstanding any other provision of this section to the contrary, if the County Agency deems it to be in the best
interest of the County, the bonds shall not initially be issued through the book-entry-only transfer system of DTC.
5. PRIOR REDEMPTION. The bonds may be subject to optional and/or mandatory redemption prior to maturity upon
such terms and conditions as shall be determined by the County Agency.
6. BOND REGISTRAR AND PAYING AGENT. The County Treasurer shall designate, and may enter into an agreement
with, a bond registrar and paying agent for the bonds which shall be a bank or trust company located in the State of
Michigan which is qualified to act in such capacity under the laws of the United States of America or the State of
Michigan. The County Treasurer from time to time as required may designate a similarly qualified successor bond
registrar and paying agent. Notwithstanding any provision of this section to the contrary, if the County Agency deems
it to be in the best interest of the County, the County Treasurer shall serve as bond registrar and paying agent for the
bonds.
7. EXECUTION, AUTHENTICATION AND DELIVERY OF BONDS. The bonds shall be executed in the name of the
County by the manual or facsimile signatures of the Chairperson 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 bonds. After the
bonds have been executed and authenticated for delivery to the original purchaser thereof, they shall be delivered
by the County Treasurer to the purchaser upon receipt of the purchase price. Additional bonds bearing the manual
or facsimile signatures of the Chairperson 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 bonds. The bond registrar and
paying agent shall indicate on each bond the date of its authentication.
8. EXCHANGE AND TRANSFER OF BONDS. Any 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 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 bond.
Each 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 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.
Upon the exchange or transfer of any bond, the bond registrar and paying agent on behalf of the County shall cancel
the surrendered bond and shall authenticate and deliver to the transferee a new 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 bond. If, at the time the bond registrar and paying agent authenticates and delivers a new bond pursuant
to this section, payment of interest on the bonds is in default, the bond registrar and paying agent shall endorse upon
the new bond the following: “Payment of interest on this bond is in default. The last date to which interest has been
paid is [appropriate date to be inserted].”
The County and the bond registrar and paying agent may deem and treat the person in whose name any bond shall be
registered upon the books of the County as the absolute owner of such bond, whether such bond shall be overdue
or not, for the purpose of receiving payment of the principal of and interest on such 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 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 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 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 bonds or portions of bonds which
have been selected for redemption.
9. FORM OF BONDS. The bonds shall be in substantially the form attached hereto as Exhibit A, with such additions,
deletions and modifications as are approved by the County Agency and consistent with the terms of this Resolution.
10. SECURITY. It is expected that the principal of and interest on the bonds will be paid from revenues of the System,
and such revenues are hereby authorized to be used for such purpose. In addition, the full faith and credit of the
County are pledged hereby to the payment of the principal and interest on the bonds authorized by this Resolution.
Each year the County shall include in its budget as a first budget obligation an amount sufficient to pay such principal
and interest as the same shall become due. The ability of the County to raise such funds is subject to applicable
constitutional and statutory limitations on the taxing power of the County. The amount of taxes necessary to pay the
principal of and interest on the bonds, together with the taxes levied for the same year, shall not exceed the limit
authorized by law. To the extent that the revenues of the System are insufficient to pay the principal of and interest
on the bonds, the proceeds of such taxes (both current and delinquent) shall be deposited as collected into the
principal and interest fund established in section 12 hereof, and until the principal of and the interest on the bonds
are paid in full, such proceeds shall be used only for payment of such principal and interest.
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 bonds, or any portion thereof, shall have been
deposited in trust, this Resolution shall be defeased with respect to such bonds, and the owners of the bonds shall
have no further rights under this Resolution except to receive payment of the principal of, premium, if any, and interest
on such bonds from the cash or securities deposited in trust and the interest and gains thereon and to transfer and
exchange bonds as provided herein.
12. PRINCIPAL AND INTEREST FUND. There shall be established for the bonds a Principal and Interest Fund which
shall be kept in a separate bank account, provided, however, that such Principal and Interest Fund may be pooled or
combined for deposit or investment purposes with other debt retirement funds created for nonvoted debt of the County
(other than any special assessment debt). From the proceeds of the sale of the bonds there shall be set aside in the
Principal and Interest Fund any premium as determined by order of the County Agency and any accrued interest
received from the purchaser of the bonds at the time of delivery of the same. Funds of the County to be used to pay
the principal and interest on the bonds when due shall be placed in the principal and interest fund and so long as the
principal or interest on the bonds shall remain unpaid, no moneys shall be withdrawn from such principal and interest
fund except to pay principal and interest on the bonds.
13. CONSTRUCTION FUND. The remainder of the proceeds of the sale of the bonds shall be set aside in a construction
fund and used solely to defray the cost of acquisition, construction and installation of the Project. Any unexpended
balance of the proceeds of the sale of the bonds remaining in the construction fund after completion of the Project
shall be deposited in the principal and interest fund established in section 12 hereof.
14. ESTIMATES OF PERIOD OF USEFULNESS AND COST. The estimated period of usefulness of the Project is
hereby determined to be not less than twenty (20) years and upwards, and the plans for and the estimated cost of
the Project in the amount of $5,500,000 are hereby approved and adopted.
15. APPROVAL OF MICHIGAN DEPARTMENT OF TREASURY – EXCEPTION FROM PRIOR APPROVAL. The
issuance and sale of the bonds shall be subject to the County obtaining qualified status or prior approval from the
Department of Treasury of the State of Michigan pursuant to Act 34, Public Acts of Michigan, 2001, as amended (“Act
34”), and, if necessary, the County Treasurer and County Agency are each hereby authorized and directed to make
application to the Department of Treasury for approval to issue and sell the bonds as provided by the terms of this
Resolution and by Act 34. The County Treasurer and County Agency are authorized to pay any filing fees required
in connection with obtaining qualified status or prior approval from the Department of Treasury. The County Treasurer
and County Agency are further authorized to request such waivers of the requirements of the Department of Treasury
or Act 34 as necessary or desirable in connection with the sale of the bonds.
16. SALE, ISSUANCE, DELIVERY, TRANSFER AND EXCHANGE OF BONDS. The County Agency is hereby
authorized to determine the principal amount of the bonds to be sold and to determine the other bond details as
described in section 2 hereof and the terms and conditions for optional and/or mandatory redemption as described
in section 5 hereof. The bonds shall be sold at a competitive sale in accordance with the provisions of Act 34 and
other applicable laws of this state. In connection therewith, the County Agency shall set the time and date for the sale
of the bonds and prescribe the form of notice of sale for the bonds and do all things necessary to effectuate the sale,
issuance, delivery, transfer and exchange of the bonds in accordance with the provisions of this Resolution. The
bonds shall be sold at a price that is not less than 99% of their par value, as determined by the County Agency. The
County Agency is hereby authorized to approve by written order the interest rates on the bonds and the winning
bidder upon the sale of the bonds. The County Agency, the County Treasurer, the County Clerk and other officers
and employees of the County are authorized to do all other things necessary to effectuate the sale, issuance, delivery,
transfer and exchange of the bonds in accordance with the provisions of this Resolution.
17. REPLACEMENT OF BONDS. Upon receipt by the County Treasurer of proof of ownership of an unmatured bond,
of satisfactory evidence that the bond has been lost, apparently destroyed or wrongfully taken and of security or
indemnity which complies with applicable law and is satisfactory to the County Treasurer, the County Treasurer may
authorize the bond registrar and paying agent to deliver a new executed bond to replace the bond lost, apparently
destroyed or wrongfully taken in compliance with applicable law. In the event an outstanding matured bond is lost,
apparently destroyed or wrongfully taken, the County Treasurer may authorize the bond registrar and paying agent
to pay the bond without presentation upon the receipt of the same documentation required for the delivery of a
replacement bond. The bond registrar and paying agent, for each new bond delivered or paid without presentation
as provided above, shall require the payment of expenses, including counsel fees, which may be incurred by the
bond registrar and paying agent and the County in the premises. Any bond delivered pursuant to the provisions of
this section 17 in lieu of any bond lost, apparently destroyed or wrongfully taken shall be of the same form and tenor
and be secured in the same manner as the bond in substitution for which such bond was delivered.
18. OFFICIAL STATEMENT. The County Agency and the County Treasurer are each authorized to cause the
preparation of an official statement for the bonds for the purpose of enabling compliance with Rule 15c2-12 issued
under the Securities Exchange Act of 1934, as amended (the “Rule”) and to do all other things necessary to enable
compliance with the Rule. After the award of the bonds, the County will provide copies of a “final official statement”
(as defined in paragraph (f)(3) of the Rule) on a timely basis and in reasonable quantity as requested by the successful
bidder or bidders to enable such 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 authorized to execute a certificate of the County, constituting
an undertaking to provide ongoing disclosure about the County for the benefit of the holders of the bonds as required
under paragraph (b)(5) of the Rule, and amendments to such certificate from time to time in accordance with the
terms of the 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.
20. 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 bonds will be and will remain excludable from gross income
for federal income tax purposes. The County Agency, the County Treasurer, the County Clerk and other appropriate
County officials are authorized to do all things necessary to assure that the interest on the bonds will be and will
remain excludable from gross income for federal income tax purposes.
21. NOTICE OF ISSUANCE OF BONDS. Within thirty (30) days after the issuance of the bonds, either (1) a copy of the
final official statement or other offering or disclosure document prepared by the County in connection with the
issuance of the bonds or (2) notice that such information has been filed with the Electronic Municipal Market Access
system of the Municipal Securities Rulemaking Board and is publicly available shall be furnished to Bank of America,
N.A. at the following locations:
Bank of America, N.A.
Mail Code: IL4-135-07-28
135 South LaSalle Street
Chicago, IL 60603
Attention: Thomas R. Denes
Bank of America, N.A.
Global Markets
One Bryant Park, 12th Floor
New York, NY 10036
Attention: Dylan Jennings,
PSB Credit Admin Assoc II
Bank of America, N.A.
Public Sector Banking
Mail Code TX1-301-18-01
301 Commerce St., Suite 1810
Fort Worth, TX 76102
Attention: Glenda Beasley
In accordance with the Bank of America Continuing Covenant Agreement, the notices provided for above shall be in
writing and shall be transmitted by email to the following addresses: thomas.r.denes@bofa.com,
dylan.jennings@bofa.com, and glenda.beasley@bofa.com.
22. CONFLICTING RESOLUTIONS. All resolutions and parts of resolutions insofar as they may be in conflict herewith
are hereby rescinded.
Chair, the following Commissioners are sponsoring the foregoing Resolution: Yolanda Smith
Charles.
Date: June 11, 2026
David Woodward, Commissioner
Date: June 17, 2026
Walt Herzig, Chief Deputy County Executive
Date: June 23, 2026
Lisa Brown, County Clerk / Register of Deeds
COMMITTEE TRACKING
2026-06-03 Economic Development & Infrastructure - Forward to Finance
2026-06-03 Finance - Recommend to Board
2026-06-11 Full Board - Adopt
Motioned by Commissioner Michael Gingell seconded by Commissioner Robert Hoffman to approve
the attached Bonds: Authorize the Issuance of Bonds for the Pontiac Woodward Loop Sewage
Disposal Improvement Project.
Yes: Charles Cavell, Ann Erickson Gault, Michael Gingell, Marcia Gershenson, Robert Hoffman,
Brendan Johnson, Karen Joliat, Christine Long, Penny Luebs, Gwen Markham, William Miller III,
Kristen Nelson, Angela Powell, Robert Smiley, Yolanda Smith Charles, Michael Spisz, Linnie
Taylor, Philip Weipert, David Woodward (19)
No: None (0)
Abstain: None (0)
Absent: (0)
Passed
ATTACHMENTS
1. Exhibit A
2. 2026-06-03 Memo Pontiac Woodward Loop Improvements
3. Project Cost Estimate
4. Map of Pontiac Woodward Loop Sewer Improvement Area
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
I, Lisa Brown, 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 June
11, 2026, 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 Circuit Court at
Pontiac, Michigan on Thursday, June 11, 2026.
Lisa Brown, Oakland County Clerk / Register of Deeds
EXHIBIT A
[FORM OF BOND TO BE COMPLETED AFTER BOND SALE]
UNITED STATES OF AMERICA
STATE OF MICHIGAN
COUNTY OF OAKLAND
SEWAGE DISPOSAL SYSTEM CAPITAL IMPROVEMENT BOND, SERIES 2026
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 [paying agent] in the city of [city],
Michigan, the bond registrar and paying agent, and to pay to the Registered Owner, as shown on the
registration books at the close of business on the 15th 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 the Date of Original Issue or such later date through which
interest shall have 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 day of
[month] and [month] in each year, commencing [month] 1, [year]. Principal and interest are payable in
lawful money of the United States of America. Interest shall be computed on the basis of a 360-day year
of twelve 30-day months.
This bond is one of a series of bonds aggregating the principal sum of [principal] Dollars
($[principal amount]) issued by the County under and pursuant to and in full conformity the Constitution
and Statutes of Michigan (especially Act No. 34, Public Acts of 2001, as amended) and a bond
authorizing resolution adopted by the Board of Commissioners of the County (the “Resolution”) and an
order of the Water Resources Commissioner of the County, as County Agency, for the purpose of
defraying all or part of the cost of acquiring, constructing, and installing sewage disposal system
improvements to the County’s City of Pontiac Sewage Disposal System in the County of Oakland,
Michigan (the “System”).
The County has authorized the revenues of the System to be used to pay the principal of and
interest on the bonds when due. In addition, the County has irrevocably pledged its full faith and credit for
the prompt payment of the principal of and interest on the bonds as the same become due. The principal
of, and interest on, the bonds are payable as a first budget obligation of the County from its general
funds. The ability of the County to raise such funds is subject to applicable statutory and constitutional
limitations on the taxing power of the County. The amount of taxes necessary to pay the principal of and
interest on the bonds, together with the taxes levied for the same year, shall not exceed the limit
authorized by law.
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 which have been selected for redemption.
MANDATORY PRIOR REDEMPTION
Bonds maturing in the year [year] are subject to mandatory prior redemption at par and accrued
interest as follows:
[MANDATORY PRIOR REDEMPTION TABLE(S) INSERTED AFTER BOND SALE, IF NECESSARY]
Bonds or portions of bonds to be redeemed by mandatory redemption shall be selected by lot.
OPTIONAL PRIOR REDEMPTION
Bonds maturing prior to [month] 1, [year], are not subject to redemption prior to maturity. Bonds
maturing on and after [month] 1, [year], 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 date on and after [month] 1, [year].
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.
Not less than thirty nor more than sixty days' notice of redemption shall be given by first-class
mail to the registered owners of bonds called to be redeemed at their registered addresses. Failure to
receive notice of redemption shall not affect the proceedings for redemption. Bonds or portions of bonds
called for redemption shall not bear interest 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, Michigan, by its Board of Commissioners, has
caused this bond to be executed in its name by facsimile signatures of the Chairperson 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: [Form only – Not for signature]
Chairperson, Board of Commissioners
[SEAL]
And: [Form only – Not for signature]
County Clerk
[STANDARD FORMS OF AUTHENTICATION CERTIFICATE AND ASSIGNMENT TO BE INSERTED]
Form DC–001
OAKLAND COUNTY WATER RESOURCES COMMISSIONER
Page 1 of 1 Rev.: 02/12/2018
OAKLAND COUNTY
WATER RESOURCES COMMISSIONER MEMORANDUM
TO: Commissioner Yolanda Charles Smith, Chairperson of the Economic Development and
Infrastructure Committee
FROM: Michael C. Walsh, P.E., Civil Engineer III
SUBJECT: Authorize the Issuance of Bonds to Fund Improvements for the City of Pontiac’s Sewage
Disposal System in the Woodward Loop Area
DATE: June 3, 2026
On March 25, 2026, this Committee authorized the publication of a Notice of Intent to issue bonds in an
amount not to exceed $5.5 million to finance the cost of improvements to the City of Pontiac’s Sewage
Disposal System in the Woodward Loop area. The intent is to reimburse project costs from bond
proceeds. The notice was published on April 19, 2026. There has been no petition for a referendum
before the expiration of the 45-day deadline.
The City of Pontiac Sewage Disposal System, which needs significant repairs and improvements, is
owned by Oakland County and operated and maintained by the Water Resources Commissioner.
Necessary repairs and improvements will be included in a project encompassing planning and
professional services, permitting and property acquisition, construction activities and environmental and
geotechnical measures, along with any other activities necessary to successfully complete the project.
At the same time, the Michigan Department of Transportation (MDOT) is completing its own project to
convert the Woodward Loop surrounding downtown Pontiac from a one-way to a two-way roadway. For
convenience, efficiency, and cost savings, the WRC is coordinating with MDOT to incorporate the
improvements into MDOT’s roadway project so both projects will be constructed concurrently. The project
area is identified in the attached Figure 1.
Bonds will be issued in one or more series and secured by Oakland County’s full faith and credit pledge
and repaid with revenues of the system. It is anticipated that the County will advance all or a portion of the
costs of the project prior to the issuance of each series of bonds, and system fund advances would be
repaid from proceeds of the bonds. Oakland County can reasonably expect to seek reimbursement for its
advances to the project as anticipated by the accompanying resolution.
Requested Action: Adopt the resolution as presented authorizing the issuance bonds in an
amount not to exceed $5.5 million to finance the cost of improvements to the City of Pontiac
Sewage Disposal System within the Woodward Loop area.
Presenters: Michael Walsh, P.E., walshm@oakgov.com 248-431-4180
Ben Lewis, P.E., lewisbe@oakgov.com 248-292-9357
Eric McGlothlin, EMcGlothlin@dickinson-wright.com 248-433-7566
Steven Burke, steveb@mfci.com 804-986-1419
Project Costs
1)Facility Acquisition
a Construction Cost 3,125,000$
Subtotal 3,125,000$
2)Engineering Consultants
a Prelim. Engineering (Study) and Design Phase Services 472,493$
b Construction Phase Services Incl. Materials Testing 531,250$
Subtotal 1,004,000$
3)Project Financing & Legal
a Bond Issuance (Legal) 27,650$
b Underwriter's Discount 84,000$
c Bond Issuance (Financial Consultant) 13,000$
d Financial Advisor to the County (Baird)5,000$
e S&P Rating Fee 17,500$
f Moody's Rating Fee 15,000$
g POS/Official Statement 4,500$
h Advertising 2,500$
i Michigan Advisory Council (MAC) Fee 450$
j Paying Agent Fee 500$
Subtotal 170,000$
4)Right of Way
a Easement Fees 38,000$
b Legal Fees 34,000$
c County Services 15,000$
Subtotal 87,000$
5)Exclusive County Services
a Administration 29,000$
b Engineering 251,000$
c Inspection 168,000$
d Survey 13,000$
e O&M Startup 46,000$
Subtotal 507,000$
6)Project Subtotal 4,893,000$
7)Project Contingency 607,000$
8)Total Project Cost 5,500,000$
I hereby certify the period of usefulness of these facilities to be (30) years and upwards.
City of Pontiac Sewage Disposal System
ESTIMATE OF TOTAL PROJECT COST
February 18, 2026
MDOT Woodward Loop Sewer Improvements
Canadian
National
Railway
P a r k
Deland
Mechanic
G e n e
V i ctory
Corwin
Winst o n
O s m u n
Bra
n
c
h
H
o
o
dM
c
N
e
i
l
Murray
K
i
m
b
a
l
l
R
i
k
e
r
Chapman
C
h
a
r
l
o
t
t
e
Miller
Harris
E d d y
A l g o n q u i n
E m i l yPatcha k
L e w a D o w n s
Brush
F
o
s
t
e
r
Ellwood
G r a n d i e
Stephens
A
l
f
r
e
d
Esther
Carlton
J e f f e r s o n
Hartung
Close
E l i z a b e t h L a k e
Steinbaugh
C
o
o
p
e
r
Menominee
L
e
x
i
n
g
t
o
n
Nelson
Perry
Beaudette
H
o
v
e
y
Hibbard
WaterW
i
l
l
i
a
m
s
Warren
Jacokes
Cochrane
C o t t a g e
E d o u a r d
Evelyn
C r o s s
Lafayette
Liberty
C h a m b e r l a i n
Porter
Linfere
Sanderson
Ottawa
M a t t h e w s
Houston
Wayne
Hill
Marquette
Florence
Wisner Myrtle
Palmer
Congress
W h i t t e m o r e
Mill Union
T a c o m a
C l a i r m o n t
T
o
m
S
h
e
r
i
d
a
n
E
x
c
h
a
n
g
e
L
a
k
e
F
r
o
n
t
Franklin
O a k h i l l
A
r
u
s
h
a
Henderson
R o s e
P
u
t
n
a
m
Gerdon
C l a r k
H o w a r d
Kongoni
C o o l e y
W a s h i n g t o n
Carter
Maple
J u d s o n
Beach
Feneley
Stout
Walnut
Gingell
C
r
a
w
f
o
r
d
Portage
Pine
B a r t l e t t
T
a
y
l
o
r
Clinton
Pinegrove
F o r e s t
B e n n e t t
Gladstone
Short
Cadillac
Edison
Rundell
P
a
y
n
e
H e n r y C l a y
F a i r g r o v e
Mary D ay
Allison
Green
W e s s e n
James
H a r r i e t t
H a m i l t o n
L
u
l
l
P i ke
Augusta
S
e
m
i
n
o
l
e
J
o
h
n
s
o
n
E l i z a b e t h
L e w i sAdelaide
Lawrence
E
u
c
l
i
d
Seneca
P
i
n
g
r
e
e
B
l
a
i
n
e
S
u
m
m
i
t
Prall
H o m e
Clarence
K e m p
Oneida
Norton
S
t
o
c
k
w
e
l
l
P o p l a r
T r e g e n t
L o r r a i n e
Bagley
Moreland
W h i t f i e l d
Lake Shore
J a c k s o n
Iroquois
T
h
o
r
p
e
L
i
n
c
o
l
n
Lake Laura
V i r g i n i a
PIKE
PERRY
UNIVERSITY
STATE
CESAR E CHAVEZ
ORCH A R D L A K E
B
A
L
D
W
I
N
SAG INAW
OAKLAND
E L I Z A B E T H L A K E
WOO D W A R D
HURON
CASS
A U B U R N
Clinton River
ClintonRiver
City ofPontiac
The information displayed in this map is compiled from recorded deeds, plats, tax maps, surveys and other public records. Although this information is intended to accurately reflect public information, it is not a legally recorded map or survey and is not intended to be used as one. Users should consult primary/original information sources where appropriate.
DISCLAIMER:
Figure 1City of PontiacWoodward Loop Sewer Improvements by MDOTProject Area Map
Path: J:\Drain\MappingUnit\SANITARY-COMBINED\Special Projects\POC\Repair Projec ts\2021\MDOT Loop\POC MDOT Loop Improvements.mxdDate: 9/25/2025
0 200 400100Feet
Project A re a/Bo un dary