Title
Approval of the Agreement for Oakland County Water Supply and Sewage Disposal Systems for Rochester Hills - Extension No. 5A between the Oakland County Drain Commissioner (OCDC) and the City of Rochester Hills
Body
At a regular meeting of the City Council of the City of Rochester Hills, Oakland County, Michigan (the "City Council"), held on the 20th day of April, 2005.
PRESENT: Melinda Hill, Bryan Barnett, John Dalton, Jim Duistermars, Barbara Holder, Linda Raschke and Gerald Robbins
ABSENT: None
The Clerk presented to the City Council a form of contract between the County of Oakland (the "County") and the City of Rochester Hills (the "City"), relative to acquisition, construction and financing of the Oakland County Water Supply and Sewage Disposal Systems for Rochester Hills - Extension No. 5A Project (the "Project"), and the plans, estimates of the cost and period of usefulness thereof as prepared and submitted by the consulting engineers. The Clerk also presented, for publication if the contract is approved, a form of notice.
The following resolution was offered by Dalton and seconded by Robbins:
BE IT RESOLVED by the City Council of the City of Rochester Hills, Oakland County, Michigan, that:
1. The City Council hereby approves the contract between the County and the City providing for the acquisition and construction of the Oakland County Water Supply and Sewage Disposal Systems for Rochester Hills - Extension No. 5A Project (the "Contract"); providing for the payment 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 secured by the obligation of the City and payable primarily from the annual installments to be paid by the City 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 such payments; and providing for othe...
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