HomeMy WebLinkAboutResolutions - 2009.11.12 - 9904MISCELLANEOUS RESOLUTION #09281
BY: Commissioner David Woodward, District #18
IN RE: AMEND MR #09144 - BOARD OF COMMISSIONERS — EXPANSION OF AUTHORIZED
DEPOSITORIES FOR PUBLIC FUNDS
To the Oakland County Board of Commissioners
Chairperson, Ladies and Gentlemen:
WHEREAS MR #09144 was adopted on October 29, 2009 to allow for the use of credit unions as
authorized depositories of public monies held by the Oakland County Treasurer pursuant to PA 40 of 1932; and
WHEREAS, to allow for credit unions that are state chartered but not federally chartered to qualify as
depositories, it is necessary to amend MR #09144,
NOW THEREFORE BE IT RESOLVED that the Board of Commissioners hereby amends MR #09144 as
follows.
MISCELLANEOUS RESOLUTION #09144
BY: Commissioner David Woodward, District #18
IN RE: BOARD OF COMMISSIONERS — EXPANSION OF AUTHORIZED DEPOSITORIES FOR PUBLIC
FUNDS
To the Oakland County Board of Commissioners
Chairperson, Ladies and Gentlemen:
WHEREAS 1932 PA 40, as amended, at section 2, MCL 129.12, requires the Board of Commissioners to
provide by resolution for the deposit into 1 or more financial institutions of all public monies coming into the hands
of the County Treasurer; and
WHEREAS the Board of Commissioners' Miscellaneous Resolutions #6836, #7045, #7428, #8030,
#84150, #89005, #92155, #97246, #01178, #06005, and #08004 have authorized depositories; and
WHEREAS 1932 PA 40, as amended, at section 6, MCI 129.16, defines "financial institution" to include
federally chartered savings and loan associations and credit unions whose deposits are insured by an agency of
the United States government and that maintain a principal office or branch office located in this state under the
laws of this state or the United States, and
WHEREAS a credit union is a not-for-profit cooperative financial institution that is owned and controlled
by its members, and operated for the purpose of promoting thrift, providing credit at reasonable rates, and
providing other financial services to its member; and
WHEREAS Oakland County is home to numerous federally insured credit unions that can be responsibly
supported utilized as depositories for public monies under Public Act 40.
NOW THEREFORE BE IT RESOLVED that the Oakland County Board of Commissioners hereby
designates as authorized depositories for public monies held by the Oakland County Treasurer all state or
federally chartered credit unions whose deposits are insured by an agency of the United States government and
that maintain a principal office or branch office located in Oakland County under the laws of this state or the
United States.
BE IT FURTHER RESOLVED that any state or federally chartered credit union established after the
effective date of this resolution or any succeeding credit union established as a result of merger, acquisition or
name change whose deposits are insured by an agency of the united states government and that maintains a
principal office or branch office located in Oakland County under the laws of this state or the United States and
are otherwise are eligible financial institutions under 1932 PA 40, as amended, are hereby authorized
depositories for public monies held by the Oakland County Treasurer.
BE IT FURTHER RESOLVED that unless specifically approved in each and every instance by the full
Board of Commissioners no deposit may be made into any financial institution otherwise authorized to receive
deposits under this resolution if an elected or appointed official of Oakland County government having authority to
designate depositories or to authorize or control deposits is employed by or is an officer or director of said
financial institution.
BE IT FURTHER RESOLVED that the designated depositories are hereby authorized to honor all checks,
electronic transfers, or other automated instruments for payment of money drawn on the various accounts when
bearing or purporting the actual or facsimile signature or authorization of the Treasurer of the County of Oakland
or his designated deputies.
BE IT FURTHER RESOLVED that the Oakland County Clerk is requested to forward copies of this
adopted resolution to the Oakland County Treasurer.
Chairperson, we move the adoption of the foregoing resolution.
DAVID WOODWARD, JANET JACKSON, ERIC COLEMAN, MARCIA GERSHENSON,
GARY McGILLIVRAY, TIM BURNS, DAVID COULTER, JIM NASH, TIM GREIMEL,
HELAINE LACK, MATTIE HATCHETT
Chairperson, I move the adoption of the foregoing resolution.
DAVID WOODVVARD
Resolution #09281 November 12, 2009
Moved by Woodward supported by Middleton the resolution be adopted.
AYES: Jacobsen, Long, McGillivray, Middleton. Nash, Potter, Potts, Runestad, Schwartz, Scott,
Taub, Woodward, Zack. Bullard, Burns, Capella, Coulter, Douglas, Gershenson, Gingen,
Gosselin, Greirriel, Hatchet, Jackson. (24)
NAYS: None. (0)
A sufficient majority having voted in favor, the resolution was adopted.
I IRBY APPROVE THE FOREGOING RESOLIITEN
STATE OF MICHIGAN)
COUNTY OF OAKLAND)
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 November
12. 2009, 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 12th day of November, 2009.
Gae
Ruth Johnson, County Clerk