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Request for Adoption of Resolution Terminating and Dissolving the Building Authority
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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 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 has determined that it has completed and fulfilled all of its purposes and duties under the Act and its Articles of Incorporation, and has resolved and recommended to the City Council that the Building Authority be terminated and dissolved.
Therefore, Be It Resolved that:
1. The Rochester Hills Building Authority is hereby terminated and dissolved;
2. A copy of this Resolution terminating and dissolving the Building Authority shall be filed with the County Clerk; and
3. The City Council accepts the quit claim deed from the Rochester Hills Building Authority 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.