Title
Request for Approval of the proposed Bond Contract with the Oakland County Water Resources Commissioner (OCWRC) for the Perry Street Diversion Project
Body
Be It Resolved by the City of Rochester Hills City Council, Oakland County, Michigan, that:
1. The City Council hereby approves the contract in the substantial form as presented, between the County and the Municipalities relating to the acquisition and construction of the Clinton-Oakland Sewage Disposal System Perry Street Diversion Project (the "Contract"); providing for the payment of a portion of the cost thereof by the City to the County in annual installments with interest and expenses; providing for the financing of all or part of the cost by the issuance of County bonds in one or more series secured by the obligations of the Municipalities and payable primarily from the annual installments to be paid by the Municipalities to the County; providing for the pledging of the full faith and credit and the limited taxing power of the City for the making of its share of such payments; and providing for other matters relating to the Project and the acquisition, construction, financing and operation thereof, all under and pursuant to Act No. 342, Public Acts of Michigan, 1939, as amended.
2. The City Council hereby approves the preliminary plans for the Project, and the estimates of the cost and period of usefulness thereof, as contained in Exhibits A and B to the Contract.
3. The Mayor and Clerk are authorized and directed to execute and deliver the Contract for and on behalf of the City in such number of counterparts as may be desirable.
4. The Clerk is authorized and directed to publish the notice hereunto attached in the Oakland Press and so as to be prominently displayed therein. It is found and declared that said newspaper is a newspaper of general publication in the City and that said notice contains information which is sufficient to adequately inform all interested persons as to the natu...
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