...Title
Resolution to Recommend Dissolving Building Authority
...Body
Resolved,
Whereas, the Rochester Hills Building Authority was established and incorporated pursuant to the Building Authorities Act, 1948 PA 31, MCL 123.951 et seq, as amended, for the purposes of acquiring, constructing, furnishing, equipping, owning, improving, enlarging, operating and maintaining the Rochester Hills City Hall; and
Whereas, the Rochester Hills Building Authority has issued building authority bonds to finance the initial acquisition and construction, and subsequent revocation and enlargement of the City Hall; and
Whereas, all such building authority bonds and any other obligations of the Rochester Hills Building Authority have been paid in full and retired; and
Whereas, the Rochester Hills Building Authority determines that it has completed and fulfilled all of its purposes and duties under the Act and its Articles of Incorporation.
THEREFORE, IT IS RESOLVED that:
The Rochester Hills Building Authority recommends to the City Council that the Rochester Hills Building Authority be terminated and dissolved;
1. A copy of the City Council Resolution terminating and dissolving the Building Authority should be filed with the County Clerk; and
2. Prior to termination and dissolution, a quit claim deed shall be prepared and signed by the Chairperson on behalf of the Rochester Hills Building Authority and delivered to the City of Rochester Hills terminating and conveying to the City of Rochester Hills any and all ownership or leasehold interest of the Rochester Hills Building Authority in the City Hall property.