2001 - Saginaw County

Board of Commissioners April 24, 2001
credit, said bonds to finance part of the cost of sewage disposal
system improvements to service the Local Unit (the “Project”); and
WHEREAS, the Commissioner has reviewed said request and the
financial and engineering aspects of the Project and has
determined the same to be within the scope of the authority of the
County and the office of the Commissioner, to be feasible if
undertaken through said County agencies but not financially
desirable if undertaken by the Local Unit alone, and to be
necessary for the public health, safety and welfare specifically
of the Local Unit and its inhabitants and generally of the County.
NOW, THEREFORE, BE IT RESOLVED THAT:
1. This Board does hereby give its initial and tentative
approval to the Project and does authorize the Commissioner to
undertake the financing and construction of the Project, subject,
however, to final approval of this Board of Commissioners upon
submission to this Board of the documents evidencing agreement
between the Local Unit and the Commissioner acting for and on
behalf of the County for the acquisition, construction, financing
and operation of the Project.
2. The Commissioner shall contract for the necessary
engineering services to draw plans for the Project and shall enter
into negotiations with the Local Unit for the execution of a
contract covering the acquisition, construction and financing of
the Project by the Commissioner for and on behalf of the County.
3. The Commissioner shall employ the following consultants
in connection with the Project:
As bond counsel: Miller, Canfield, Paddock and Stone,
P.L.C., Detroit, Michigan
As financial
consultant:
Stauder, Barch & Associates, Inc.,
Ann Arbor, Michigan
As engineers: Spicer Group Inc., Saginaw, Michigan
4. The Local Unit shall undertake to provide by contract
for the payment of all costs of retiring the necessary financing
and shall further undertake to reimburse the Commissioner for all
expenses incurred in connection with the Project, should the
financing and construction of the Project not be completed for any
reason whatsoever.
5. This Board hereby estimates the total cost of
constructing the improvements to be $1,200,000, including all
engineering fees, financing costs and contingencies, such estimate
subject, however, to revision upon submission of final cost
estimates or receipt of bids for the Project.
6. The Commissioner is hereby authorized to notify the
Michigan Department of Treasury of the County’s intent to issue
the bonds described herein, to pay the related fee and to request
an order providing an exception for the bonds from prior approval
by the Department of Treasury or to file an application for an
order of prior approval for the bonds described herein. The
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