December 3, 2001
A regular meeting of the City Council was held on Monday, December 3, 2001, at 7:00 p.m. in the Council Chambers of City Hall. Mayor Black presided. The Pledge of Allegiance to the Flag was recited in unison.
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Council members present: |
Drummond Black, Mary Currie, Daryl Griggs, Hollis McKeag, Marty Wazbinski |
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Council members absent: |
None |
Approval of the minutes of the November 19, 2001 regular meeting was offered by Council Member Wazbinski and seconded by Council Member Currie. (Motion adopted.)
Mayor Black offered congratulations to former Council Member John S. Coppage upon his retirement from the Midland City Council after twelve years of service. The following resolution was then offered by Council Member Wazbinski and seconded by Council Member McKeag:
RESOLVED, that the Mayor is authorized to issue the attached proclamation recognizing former Second Ward Councilman John S. Coppage for his contributions to Midland City Council and to the Midland community. (Motion adopted.) Mayor Black presented a proclamation plaque to Mr. Coppage in honor of his service.
Robert Fisher, Director of Fiscal Services, gave a brief review of the City of Midland’s 2001 Annual Comprehensive Report. Bruce Berend, Engagement Partner and Scott Janssen, Senior Manager, from the City’s audit firm Plante and Moran, LLP, presented their financial report and management letter to Council. The following resolution was then offered by Council Member Currie and seconded by Council Member McKeag:
RESOLVED, that the Comprehensive Annual Financial Report of the City of Midland for the year ended June 30, 2001 is hereby received and ordered filed for public examination. (Motion adopted.)
William Fagley, 2700 Glendale, commented on the $87 million that was in the fund balance at fiscal year end. He questioned why taxpayers are still paying into City government when the fund balance is high. Robert Fisher, Director of Fiscal Services, indicated that money collected for the tax appeal reserve is placed in the general fund and that cash reserves set aside for senior housing maintenance and equipment revolving fund are also included in the fund balance.
Jack Duso, Assistant City Manager, presented information on the resignation of Keith Abbe from the West Main Street Historic District Commission. The following resolution was then offered by Council Member Currie and seconded by Council Member McKeag:
RESOLVED, that the resignation of Keith Abbe as a member of the West Main Street Historic District Commission is hereby accepted and the Administration is directed to convey the Council’s appreciation to Mr. Abbe for his service on this important Commission. (Motion adopted.) Council directed staff to advertise the opening on the West Main Street Historic District Commission.
West Main Street Historic
District Commission - Appointment
The following resolution was offered by Council Member Currie and seconded by Council Member Griggs:
RESOLVED, that Donna Gross is hereby appointed as a Citizen at Large member to the West Main Street Historic District Commission to fill an unexpired term expiring June 30, 2002, to be effective immediately. (Motion adopted.)
The following resolution was offered by Council Member Wazbinski and seconded by Council Member Currie:
RESOLVED, that the resignation of Larry Burks as a member of the Saginaw-Midland Municipal Water Supply Corporation Board effective the end of December is hereby accepted and the Administration is directed to convey the Council’s appreciation to Mr. Burks for his service on this important Board. (Motion adopted.)
Jack Duso, Assistant City Manager, presented a report on the new Class C liquor license available for a business within the City limits. Council requested that staff look into the availability of licenses from both Midland County and Bay County. Council also requested that staff compile a listing of policies and recommendations.
The following resolution was offered by Council Member Currie and seconded by Council Member McKeag:
WHEREAS, in accord with Article IX of Chapter 2 of the Code of Ordinances, the Local Officers’ Compensation Commission has duly met and approved its 2001 Local Officers’ Compensation Commission Determinations; and
WHEREAS, said determinations were officially filed by the Chairman of the Local Officers’ Compensation Commission in the Office of the City Clerk, 333 W. Ellsworth, Midland, Michigan on November 16, 2001; and
WHEREAS, in accord with Article IX of Chapter 2 of the Code of Ordinances, the determinations made by the Local Officers’ Compensation Commission shall be effective on December 16, 2001 unless said determinations are rejected by a 4/5 vote of the City Council; and
WHEREAS, copies of the 2001 Determinations of the Local Officers’ Compensation Commission were on file in the Governmental Corner at the Grace A. Dow Memorial Library and the Midland City Clerk’s Office for public review; and
WHEREAS, the City Council, on December 3, 2001, heard public comments regarding the Local Officers’ Compensation Commissions’ 2001 Determinations; now therefore
RESOLVED, after hearing public comments the Midland City Council hereby rejects the 2001 Determinations of the Local Officers Compensation Commission. (Motion denied. Yeas: Griggs Nays: Black, Currie, McKeag, Wazbinski)
The following resolution was offered by Council Member Wazbinski and seconded by Council Member Currie:
WHEREAS, in accord with Chapter 2, Article II, Section 2-18 of the Code of Ordinances, proposals have been solicited and received for the City of Midland Zoning Ordinance and Subdivision Ordinance modernization project; and
WHEREAS, the Planning Commission and Zoning Board of Appeals members interviewed the following firms: HNTB; Rowe, Inc.; McKenna Associates; and Langworthy, Strader, LeBlanc & Associates, Inc., and unanimously recommends hiring McKenna Associates; now therefore
RESOLVED, that the proposed Professional Services Agreement with McKenna Associates be accepted in the amount of $65,000.00; and
RESOLVED FURTHER, that the Mayor and City Clerk are authorized to execute said Agreement on behalf of the City. (Motion adopted.)
The following resolution was offered by Council Member McKeag and seconded by Council Member Currie:
RESOLVED, that
the attached petition received from Nick Rapanos for the installation of a
water main on Fisher Road and along the south line of Section 24 to the end of
Centennial Drive, is hereby received and referred to the City Engineering
Department for consideration of inclusion in the 2002 Construction Program. (Motion adopted.)
The following resolution was offered by Council Member McKeag and seconded by Council Member Currie:
RESOLVED, that
the attached petition received from John A. Rapanos for the installation of a
water main on Jefferson Avenue from Joseph Drive to 130 feet north of the west
¼ corner of Section 34, is hereby received and referred to the City Engineering
Department for consideration of inclusion in the 2002 Construction Program. (Motion adopted.)
The following resolution was offered by Council Member McKeag and seconded by Council Member Currie:
RESOLVED, that
the attached petition received from Prodo, Inc. for the installation of a water
main on Lee Street from Quincy Drive to Clay Street, is hereby received and
referred to the City Engineering Department for consideration of inclusion in
the 2002 Construction Program. (Motion
adopted.)
The following resolution was offered by Council Member McKeag and seconded by Council Member Currie:
RESOLVED, that
the attached petition received from Earl D. Bennett Construction, Inc. for the
installation of a water main on Perrine Road from the end of the existing water
main to the north line of Section 31, is hereby received and referred to the
City Engineering Department for consideration of inclusion in the 2002
Construction Program. (Motion adopted.)
The following resolution was offered by Council Member McKeag and seconded by Council Member Currie:
RESOLVED, that
the attached petitions received from Prodo, Inc., Schroeder Homes, Matt and
Cheryl Musinski and Clifford and Catherine Hamilton for the installation of a
sanitary sewer on Countryside Drive from Dublin Avenue to Green Road and on
Green Road from Countryside Drive to 384 feet south, is hereby received and
referred to the City Engineering Department for consideration of inclusion in
the 2002 Construction Program. (Motion
adopted.)
The following resolution was offered by Council Member McKeag and seconded by Council Member Currie:
RESOLVED, that
the attached petition received from John A. Rapanos for the installation of a
sanitary sewer on Jefferson Avenue from Joseph Drive to 130 feet north of the
west ¼ corner of Section 34, is hereby received and referred to the City
Engineering Department for consideration of inclusion in the 2002 Construction
Program. (Motion adopted.)
The following resolution was offered by Council Member McKeag and seconded by Council Member Currie:
RESOLVED, that
the attached petition received from Prodo, Inc. for the installation of a
sanitary sewer on Lee Street from Quincy Drive to Clay Street, is hereby
received and referred to the City Engineering Department for consideration of
inclusion in the 2002 Construction Program.
(Motion adopted.)
The following resolution was offered by Council Member McKeag and seconded by Council Member Currie:
RESOLVED, that
the attached petition received from John A. Rapanos for the installation of
sanitary sewers to serve the Mapleton Area, is hereby received and referred to
the City Engineering Department for consideration of inclusion in the 2002
Construction Program. (Motion adopted.)
The following resolution was offered by Council Member McKeag and seconded by Council Member Currie:
RESOLVED, that
the attached petition received from Earl D. Bennett Construction, Inc. for the installation
of a sanitary sewer on Perrine Road from the end of the existing sanitary sewer
to the north line of Section 31, is hereby received and referred to the City
Engineering Department for consideration of inclusion in the 2002 Construction
Program. (Motion adopted.)
The following resolution was offered by Council Member McKeag and seconded by Council Member Currie:
RESOLVED, that
the attached petition received from Prodo, Inc. for the street improvement on
Lee Street from Quincy Drive to Clay Street, is hereby received and referred to
the City Engineering Department for consideration of inclusion in the 2002
Construction Program. (Motion adopted.)
The following resolution was offered by Council Member McKeag and seconded by Council Member Currie:
RESOLVED, that a
request from Councilman Marty Wazbinski for the paving of Plymouth Park Drive,
is hereby received and referred to the City Engineering Department for
consideration of inclusion in the 2002 Construction Program. (Motion adopted.)
The following resolution was offered by Council Member McKeag and seconded by Council Member Currie:
RESOLVED, that a
request from Councilman Marty Wazbinski for the widening of Dilloway Drive east
of Eastman Avenue, is hereby received and referred to the City Engineering
Department for consideration of inclusion in the 2002 Construction
Program. (Motion adopted.)
The following resolution was offered by Council Member McKeag and seconded by Council Member Currie:
RESOLVED, that the attached petition received from William R. Trull for
the installation of street lights on Eastman Avenue from Saginaw Road to
Commerce Drive and on Jefferson Avenue from Wackerly Street to Joe Mann
Boulevard and on Joe Mann Boulevard from Eastman Avenue to Jefferson Avenue, is
hereby received and referred to the City Engineering Department for
consideration of inclusion in the 2002 Construction Program. (Motion adopted.)
The following resolution was offered by Council Member Wazbinski and seconded by Council Member Currie:
WHEREAS, the First United Methodist Church desires to install a storm sewer drain line under Main Street east of Fitzhugh Street by boring the pipe under the roadway and it will outlet into the storm sewer system behind the Midland County Courthouse building; and
WHEREAS, the City of Midland must grant an easement to the First United Methodist Church to occupy the public road right of way in the location of the proposed storm sewer pipe; now therefore
RESOLVED, that the Easement Agreement from the City of Midland to the First United Methodist Church is hereby accepted and that the Mayor and City Clerk are authorized to sign said agreement on behalf of the City of Midland and that the document shall be recorded at the Midland County Register of Deeds. (Motion adopted.)
The following resolution was offered by Council Member Wazbinski and seconded by Council Member Currie:
WHEREAS, the City of Midland desires to participate in the National Flood Insurance Program and comply with all applicable statutory and regulatory requirements for the purpose of significantly reducing hazards to persons, property damage, and public expenditures, and to provide for the availability of flood insurance and federal funds or loans; now therefore
RESOLVED, that:
1. For purposes of this resolution, the following definitions shall apply:
“Flood Hazard Area” is land, which, on the basis of available flood plain information, is subject to a one percent or greater chance of flooding in any given year.
“Flood Insurance Rate Map (FIRM)” is an official map of a community on which the Federal Emergency Management Agency has delineated both the areas of special flood hazards and the risk premium zones applicable to the community.
“Flood Insurance Study” is the official report provided by the Federal Insurance Administration. The report contains flood profiles, the water surface elevation of the base flood, and may include a flood boundary-floodway map.
“Substantial Improvement” means any repair, reconstruction, or
improvement of a structure, the cost of which equals or exceeds fifty (50)
percent of the market value of the structure either (1) before the improvement
or repair is started, or (2) if the structure has been damaged and is being
restored, before the damage occurred.
For the purposes of this definition, “substantial improvement” is considered
to occur when the first alteration of any wall, ceiling, floor, or other
structural part of the building commences, whether or not that alteration
affects the external dimensions of the structures. The term does not, however, include either (1) any project for
improvement of a structure to comply with existing State or local health,
sanitary or safety code specifications which are solely necessary to assure
safe living conditions, or (2) any alteration of a structure listed on the
National Register of Historic Places
or a State Inventory of Historic Places.
2. The
building inspector shall obtain, review, and reasonably utilize flood elevation
data available from Federal, State, or other sources pending receipt of data
from the Federal Emergency Management Agency.
The most recent flood elevation data received from the Federal Emergency
Management Agency shall take precedence over data from other sources.
3. The Flood Insurance Rate Maps of the City of Midland, Michigan, dated December 5, 1995, and as reversed or updated shall be the official map for determinations and regulation pursuant to this Resolution.
4. The building inspector shall insure that all necessary permits have been issued, including a flood plain permit, approval, or letter of no authority from the Michigan Department of Environmental Quality under Part 31, Floodplain Regulatory Authority, found in Water Resources Protection of the Natural Resources and Environmental Protection Act, 1994, PA 451, as amended.
5. The building inspector shall review all permit applications to determine whether the proposed building will be reasonably safe from flooding. Where it is determined that the building will be located in a flood hazard area, the building inspector shall implement the appropriate portions of the Michigan Residential Code, specifically Section R327, the appropriate portions of the Michigan Building Code, specifically Section 1612, and all referenced codes and standards.
6. The
building inspector shall maintain a record of new structures or substantial
improvements erected in the flood hazard area, indicating the actual elevation
of the lowest structural member required to be elevated, or as an alternative,
in nonresidential structures, the elevation to which the structure has been
floodproofed; and
RESOLVED FURTHER, that the City Council hereby affirms that
the Flood Insurance Rate Maps dated December 5, 1995, are the official flood
plain maps for the City of Midland.
(Motion adopted.)
The following resolution was offered by Council Member Wazbinski and seconded by Council Member Currie:
RESOLVED, that a request to vacate all of Madison Street and Burch Street north of Soper Street be referred to the City Planning Commission, City Engineer, Utilities Director, and the Director of Public Services for review and recommendation to the City Council. (Motion adopted.)
The following resolution was offered by Council Member Wazbinski and seconded by Council Member Currie:
WHEREAS, on February 5, 1996 the City of Midland and the Michigan Department of Transportation (MDOT) entered into a contract for the construction of a full interchange at US-10 and Bay City Road in which MDOT agreed to pay for the construction costs, and the City agreed to pay for the preliminary engineering and reimburse MDOT for the acquisition of necessary right of way; and
WHEREAS, the final obligation in this project is to compensate the Webb family and Anthony Dizon for relocation expenses associated with a commercial structure and residential structures as part of the right of way acquisition; and
WHEREAS, a settlement for said relocation expenses has been negotiated by the Transportation Division of the Department of Attorney General in the amount of $80,000 subject to the approval of the City Council of the City of Midland; now therefore
RESOLVED, that the City Council hereby approves the settlement offer and authorizes the Mayor to execute a Consent Agreement for relocation assistance benefits subject to review and approval by the City Attorney; and
RESOLVED FURTHER, that in compliance with the City of Midland’s contract with MDOT for the construction of a full interchange at US-10 and Bay City Road, the Director of Fiscal Services is hereby authorized and directed to pay $80,000 in compliance with the Consent Agreement. (Motion adopted.)
Robert Fisher, Director of Fiscal Services, presented information on the issuance of bonds to finance construction of a 43.5 million gallon storm water retention basin at the Wastewater Treatment Plant. The following resolution was then offered by Council Member Currie and seconded by Council Member Wazbinski:
WHEREAS, pursuant to the provisions of Act 451, Public Acts of Michigan, 1994 (“Act 451”), when the Michigan Department of Environmental Quality (“MDEQ”) has ordered the installation, construction, alteration, improvement or operation of a sewage system, solid waste facility or waterworks system in a municipality, and the plans therefor have been prepared and approved by the state department or commission having the authority by law to grant the approval, the legislative body of the municipality may issue and sell the necessary bonds for the construction, installation, alteration, operation or improvement thereof, including the treatment works and such other facilities as may be so ordered or set forth in the order as being necessary to provide for the effective operation of the system; and
WHEREAS, the City of Midland (the “Issuer”), pursuant to Administrative Consent Order ACO-SW99-14, entered September 1, 1999, as now in force or hereafter amended (the “Order”), is required to make certain modifications to its sanitary sewer collection system, which improvements are necessary in order for the City to meet its obligations under relevant federal and state law; and
WHEREAS, the Issuer desires to comply with the Order and to make the improvements required thereby (the “Project”); and
WHEREAS, the Project is necessary to preserve and protect the public health and to meet an urgent and imperative need for sewer facilities within the service area of the City; and
WHEREAS, the Project qualifies for the State of Michigan Revolving Loan Fund financing program being administered by the Michigan Municipal Bond Authority (“MMBA”) and MDEQ, whereby the bonds of the Issuer are sold to the MMBA and bear interest at a fixed rate of interest per annum; and
WHEREAS, in pursuance of the authority granted by Act 451 the Issuer desires to issue and sell the necessary bonds to the MMBA to pay part of the cost of the Project; and
WHEREAS, it is the determination of the City Council that at this time limited tax general obligation bonds in the principal amount of not to exceed Five Million One Hundred Thirty Thousand Dollars ($5,130,000) should be issued to pay part of the costs of the Project; and
WHEREAS, Chapter III, Section 12(d) of Act 202, Public Acts of Michigan, 1943, as amended (“Act 202”), permits a municipality to authorize, within limitations which shall be contained in the authorizing resolution of the governing body, its officers to sell and deliver and receive payment for obligations, and to approve interest rates or methods for fixing interest rates, prices, discounts, maturities, principal amounts, denominations, dates of issuance, interest payment dates, redemption rights, place of delivery and payment, and other matters and procedures necessary to complete an authorized transaction.
NOW, THEREFORE, BE IT RESOLVED THAT:
1. Bonds of the Issuer designated GENERAL OBLIGATION LIMITED TAX SEWER SYSTEM IMPROVEMENT BONDS, SERIES 2001 (the “Bonds”) are authorized to be issued in the aggregate principal sum of not to exceed Five Million One Hundred Thirty Thousand Dollars ($5,130,000) for the purpose of paying part of the cost of the Project, including the cost incidental to the issuance, sale and delivery of the Bonds and, if necessary capitalized interest expense. The Bonds shall be in the form of a single fully-registered, nonconvertible bond of the denomination of the full principal amount thereof, dated as of the date of delivery of the Bond, payable in principal installments serially on April 1 of each year beginning April 1, 2003, and as set forth on Schedule A to the Bond form contained in this Resolution, as finally determined by the City Manager at the time of sale of the Bonds and approved by the MMBA and MDEQ. Final determination of the Principal Amount and the payment dates and amounts of principal installments of the Bonds shall be evidenced by execution of a Purchase Contract (the “Purchase Contract”) between the Issuer and the MMBA providing for sale of the Bonds, and the City Manager or the City Clerk (the “Authorized Officers”) are authorized and directed to execute and deliver the Purchase Contract when it is in final form and to make the determinations set forth above.
The Bonds or principal installments thereof will be subject to prepayment prior to maturity in the manner and at the times as provided in the form of Bond contained in this Resolution or as may be approved by the Authorized Officers at the time of sale of the Bonds or by the MMBA at the time of prepayment.
The Bonds shall bear interest at a rate of two and one-half percent (2.5%) per annum on the par value thereof or at such lower rate of interest as evidenced by execution of the Purchase Contract, and either of or both of the Authorized Officers shall deliver the Bond in accordance with the delivery instructions of the MMBA.
The Bond principal amount is expected to be drawn down by the Issuer periodically, and interest on principal amount shall accrue from the date such principal amount is drawn down by the Issuer. The Bond shall not be convertible or exchangeable into more than one fully‑registered bond. Principal of and interest on the Bond shall be payable as provided in the Bond form in this Resolution.
The City Treasurer shall record on the registration books payment by the Issuer of each installment of principal or interest or both when made and the canceled checks or other records evidencing such payments shall be returned to and retained by the City Treasurer.
Upon payment by the Issuer of all outstanding principal of and interest on the Bond, the MMBA shall deliver the Bond to the Issuer for cancellation.
2. The Bonds of this issue shall be executed in the name of the Issuer with the manual or facsimile signatures of the Mayor and Clerk of the Issuer and shall have the seal of the Issuer, or a facsimile thereof, printed or impressed on the Bonds. If the Bonds shall bear facsimile signatures, no Bond shall be valid until authenticated by an authorized officer or representative of the Transfer Agent.
3. The City Treasurer is authorized and directed to open a separate depositary account with a bank or trust company designated by the City Treasurer, to be designated GENERAL OBLIGATION LIMITED TAX SEWER SYSTEM IMPROVEMENT BONDS, SERIES 2001 DEBT RETIREMENT FUND (the “Debt Retirement Fund”), the moneys to be deposited into the Debt Retirement Fund to be specifically earmarked and used solely for the purpose of paying principal of and interest on the Bonds as they mature. Bond proceeds in amounts sufficient to pay all or part of any interest due on the Bonds as may be determined by MDEQ shall be deposited in the Debt Retirement Fund. All proceeds from taxes levied for the Debt Retirement Fund shall be deposited into the Debt Retirement Fund as collected. Commencing with the fiscal year ending June 30, 2002, the Issuer shall provide in its budget each year until the Bonds are paid, in the manner provided by the provisions of Act 202, an amount sufficient to promptly pay, when due, the principal of and interest on the Bonds becoming due prior to the next annual tax levy. The limited tax full faith, credit and resources of the Issuer are hereby pledged for the prompt payment of the principal of and interest on the Bonds as they become due, which pledge shall include the Issuer’s obligation to pay from its general funds as a first budget obligation said principal and interest and, if necessary, to levy ad valorem taxes on all taxable property in the Issuer, within applicable constitutional, statutory and charter tax rate limitations.
4. The City Treasurer is authorized and directed to open a separate depositary account with a bank or trust company designated by the City Treasurer, to be designated GENERAL OBLIGATION LIMITED TAX SEWER SYSTEM IMPROVEMENT BOND, SERIES 2001 CONSTRUCTION FUND (the “Construction Fund”) and deposit into said Construction Fund the proceeds of the Bonds less capitalized interest, if any. The moneys in the Construction Fund shall be used solely to pay the costs of the Project and the costs of issuance of the Bonds.
5. The Bonds shall be in substantially the following form, subject to such corrections or modifications which may be required by the MMBA and approved by bond counsel:
UNITED STATES OF AMERICA
STATE OF MICHIGAN
COUNTIES OF MIDLAND AND BAY
CITY OF MIDLAND
GENERAL OBLIGATION LIMITED TAX SEWER SYSTEM IMPROVEMENT BONDS
SERIES 2001
REGISTERED OWNER: Michigan Municipal Bond Authority
PRINCIPAL AMOUNT: ____________________________ Dollars ($__________)
DATE OF ORIGINAL ISSUE: _______________, 2001
The CITY OF MIDLAND, Counties of Midland and Bay, State of Michigan (the “City”), for value received, hereby promises to pay to the Michigan Municipal Bond Authority (the “Authority”), or registered assigns, the Principal Amount shown above, or such portion thereof as shall have been advanced to the City pursuant to a Purchase Contract between the City and the Authority and a Supplemental Agreement by and among the City, the Authority and the State of Michigan acting through the Department of Environmental Quality, in lawful money of the United States of America, unless prepaid prior thereto as hereinafter provided.
During the time the Principal Amount is being drawn down by the City under this bond, the Authority will periodically provide to the City a statement showing the amount of principal that has been advanced and the date of each advance, which statement shall constitute prima facie evidence of the reported information; provided that no failure on the part of the Authority to provide such a statement or to reflect a disbursement or the correct amount of a disbursement shall relieve the City of its obligation to repay the outstanding Principal Amount actually advanced, all accrued interest thereon, and any other amount payable with respect thereto in accordance with the terms of this bond.
The Principal Amount shall be payable on the dates and in the annual principal installment amounts set forth in Schedule A attached hereto and made a part hereof, as such Schedule may be adjusted if less than $5,130,000 is disbursed to the City or if a portion of the Principal Amount is prepaid as provided below, with interest on said principal installments from the date each said installment is delivered to the holder hereof until paid at the rate of two and _______ percent (2.__%) per annum. Interest is first payable on April 1, 2002, and semiannually thereafter on the first day of October and April of each year, as identified in the Order of Approval of the Department of Environmental Quality.
Notwithstanding any other provision of this bond, as long as the Authority is the owner of this bond, (a) this bond is payable as to principal, premium, if any, and interest at Bank One Trust Company, National Association, or at such other place as shall be designated in writing to the City by the Authority (the “Authority’s Depository”); (b) the City agrees that it will deposit with the Authority’s Depository payments of the principal of, premium, if any, and interest on this bond in immediately available funds at least five business days prior to the date on which any such payment is due whether by maturity, redemption or otherwise; and (c) written notice of any redemption of this bond shall be given by the City and received by the Authority’s Depository at least 40 days prior to the date on which such redemption is to be made.
Additional
Interest
In the event of a default in the payment of principal or interest hereon when due, whether at maturity, by redemption or otherwise, the amount of such default shall bear interest (the “additional interest”) at a rate equal to the rate of interest which is two percent above the Authority’s cost of providing funds (as determined by the Authority) to make payment on the bonds of the Authority issued to provide funds to purchase this bond but in no event in excess of the maximum rate of interest permitted by law. The additional interest shall continue to accrue until the Authority has been fully reimbursed for all costs incurred by the Authority (as determined by the Authority) as a consequence of the City’s default. Such additional interest shall be payable on the interest payment date following demand of the Authority. In the event that (for reasons other than the default in the payment of any municipal obligation purchased by the Authority) the investment of amounts in the reserve account established by the Authority for the bonds of the Authority issued to provide funds to purchase this bond fails to provide sufficient available funds (together with any other funds which may be made available for such purpose) to pay the interest on outstanding bonds of the Authority issued to fund such account, the City shall and hereby agrees to pay on demand only the City’s pro rata share (as determined by the Authority) of such deficiency as additional interest on this bond.
This bond is the single, fully-registered, non-convertible bond in the principal sum of $5,130,000, issued for the purpose of paying the cost of certain modifications to the sanitary sewer system of the Issuer and paying costs incidental to the issuance of the bonds, in pursuance of the authority granted under Act 451, Public Acts of Michigan, 1994, as amended duly adopted by the City Council of the Issuer, and pursuant to an administrative consent order entered against the City by the Michigan Department of Environmental Quality, as now in force or hereafter amended.
Bonds may be subject to redemption prior to maturity by the City only with the prior written consent of the Authority and on such terms as may be required by the Authority.
This bond, including the interest hereon, is payable as a first budget obligation from the general funds of the City, and the City is required, if necessary, to levy ad valorem taxes on all taxable property in the City for the payment thereof, subject to applicable constitutional, statutory and charter tax rate limitations.
This bond is transferable only upon the registration books of the Issuer by the registered owner of record in person, or by the registered owner’s attorney duly authorized in writing, upon the surrender of this bond together with a written instrument of transfer satisfactory to the Issuer duly executed by the registered owner or the registered owner’s attorney duly authorized in writing, and thereupon a new registered bond or bonds in the same aggregate principal amount and of the same maturity shall be issued to the transferee in exchange therefor as provided in the resolution authorizing this bond and upon the payment of the charges, if any, therein prescribed.
It is hereby certified and recited that all acts, conditions and things required by law to be done, precedent to and in the issuance of this bond and the series of bonds of which this is one, exist and have been done and performed in regular and due form and time as required by law, and that the total indebtedness of the Issuer, including this bond and the series of bonds of which this is one, does not exceed any constitutional, statutory or charter debt limitation.
IN WITNESS WHEREOF, the City of Midland, Counties of Midland and Bay, State of Michigan, by its City Council, has caused this Bond to be signed in the name of the City by the facsimile signatures of its Mayor and Clerk and its corporate seal or a facsimile thereof to be printed or impressed hereon, all as of the Date of Original Issue.
CITY OF MIDLAND
Counties of Midland and Bay
State of Michigan
By____________________________
Its Mayor
(SEAL)
By____________________________
Its Clerk
SCHEDULE A
Repayment of the Principal Amount shall be made according to the following schedule until the full Principal Amount disbursed to the Issuer is repaid, unless prepaid as provided in the bond. In event that the Principal Amount disbursed to the City is less than $5,130,000 or in event of prepayment of the bond, the Authority may prepare a new payment schedule which shall be approved by a resolution of the City Council.
|
Principal Installment Due on April 1 |
|
Amount of Principal Installment |
|
2003 |
|
$200,000 |
|
2004 |
|
205,000 |
|
2005 |
|
210,000 |
|
2006 |
|
215,000 |
|
2007 |
|
220,000 |
|
2008 |
|
230,000 |
|
2009 |
|
235,000 |
|
2010 |
|
240,000 |
|
2011 |
|
245,000 |
|
2012 |
|
250,000 |
|
2013 |
|
255,000 |
|
2014 |
|
265,000 |
|
2015 |
|
270,000 |
|
2016 |
|
275,000 |
|
2017 |
|
285,000 |
|
2018 |
|
290,000 |
|
2019 |
|
300,000 |
|
2020 |
|
305,000 |
|
2021 |
|
315,000 |
|
2022 |
|
320,000 |
|
|
|
|
|
|
|
|
6. The
estimated period of usefulness of the proposed Project is hereby declared to be
not less than thirty (30) years and its total cost is estimated to be not less
than Five Million One Hundred Thirty Thousand Dollars ($5,130,000).
7. The
Issuer shall not (i) invest, reinvest or accumulate any moneys deemed to
be proceeds of the bonds pursuant to Sections 103(a) and 148 of the
Internal Revenue Code of 1986, as amended, and the applicable regulations
thereunder, in such a manner as to cause the bonds to be “arbitrage bonds”
within the meaning of said Sections 103(a) and 148 and the applicable
regulations thereunder or (ii) take or refuse to take any lawful action
which would cause the interest on the bonds to be included in gross income for
federal income tax purposes.
8. The
proposed forms of Purchase Contract between the City and the MMBA and
Supplemental Agreement among the City, the MMBA and MDEQ are hereby approved,
and the Mayor and the Authorized Officers, or any of them, are authorized and
directed to execute such documents with such revisions permitted by law and not
materially adverse to the Issuer as may be necessary or advisable to accomplish
the sale of the Bonds to the MMBA as contemplated herein.
9. The Authorized Officers are hereby
jointly or severally authorized to take any actions necessary to comply with
requirements of the MMBA and MDEQ in connection with sale of the Bond to the
MMBA including, if required, the execution of a Revenue Sharing Pledge
Agreement. The Authorized Officers are
hereby jointly or severally authorized to execute and deliver such other
certificates, documents, instruments, applications and other papers as may be
required by the MMBA or MDEQ or as may be otherwise necessary or convenient to
effect the approval, sale and delivery of the Bonds.
10. All
resolutions and parts of resolutions insofar as they conflict with the
provisions of this resolution be and the same hereby are rescinded. (Motion adopted.)
The following resolution was offered by Council Member Wazbinski and seconded by Council Member Currie:
WHEREAS, bids for automobiles and light duty vehicles are solicited by the State of Michigan and Oakland County and the City of Midland is authorized to make purchases from these programs; and
WHEREAS, sufficient funding for the purchase of small and large size administrative cars and window vans is included in the 2001-02 Equipment Revolving Fund, General Fund and Water Fund budgets for Capital Outlay, Vehicles; now therefore
RESOLVED, that the Purchasing Agent is authorized to issue a purchase order to Oakland County’s selected vendor, Red Holman Pontiac GMC of Westland, Michigan in the amount of $49,192.00 for the purchase of four small-size administrative cars; to Oakland County’s selected vendor, Whelan Chevrolet of Sterling Heights, Michigan in the amount of $28,688.74 for the purchase of two full-size administrative cars; to Oakland County’s selected vendor, Red Holman Pontiac GMC of Westland, Michigan in the amount of $33,532.00 for the purchase of two 3/4 ton window vans with full body glass, all in accordance with the Oakland County Cooperative Purchase Program proposal and specifications. (Motion adopted.)
The following resolution was offered by Council Member Wazbinski and seconded by Council Member Currie:
RESOLVED, that notice is hereby given that a public hearing will be held by the City Council on Monday, January 14, 2002, at 7:00 p.m. in the Council Chambers, City Hall, for the purpose of considering the advisability of amending the Zoning Map of Ordinance No. 727, the Zoning Ordinance of the City of Midland, as set forth in the following proposed Ordinance, which is hereby introduced and given first reading; and
RESOLVED FURTHER, that the City Clerk is hereby directed to mail notice of said public hearing to owners of real property originally notified of the Planning Commission public hearing regarding the matter.
ORDINANCE NO. ______
AN ORDINANCE TO AMEND ORDINANCE NO. 727, BEING AN ORDINANCE TO REGULATE AND RESTRICT THE LOCATION OF TRADES AND INDUSTRIES AND THE LOCATION OF BUILDINGS DESIGNED FOR SPECIFIC USES, TO REGULATE AND LIMIT THE HEIGHT AND BULK OF BUILDINGS HEREAFTER ERECTED OR ALTERED, TO REGULATE AND DETERMINE THE AREA OF YARDS, COURTS, AND OTHER OPEN SPACES SURROUNDING BUILDINGS, TO REGULATE AND LIMIT THE DENSITY OF POPULATION, AND FOR SAID PURPOSES, TO DIVIDE THE CITY INTO DISTRICTS AND PRESCRIBE PENALTIES FOR THE VIOLATION OF ITS PROVISIONS BY AMENDING THE ZONING MAP TO PROVIDE A BUSINESS B-2 ZONING CLASSIFICATION WHERE RESIDENTIAL A-1 AND AGRICULTURAL ZONING PRESENTLY EXIST.
The City of Midland Ordains:
Section 1. That the Zoning Map of Ordinance No. 727, being the Zoning Ordinance of the City of Midland, is hereby amended as follows:
That property described as: Commencing at the Northeast corner of Section 24, T14N, R1E, City of Midland, Midland County, Michigan; thence 780 feet West along the North Section line to the point of beginning; thence South 388 feet; thence West 160 feet; thence North 388 feet to the North Section line; thence East 160 feet to the point of beginning; and
That property described as: Beginning 660 feet West and 430 feet South of the Northeast corner of Section 24, T14N, R1E, City of Midland, Midland County, Michigan; thence South 113 feet; thence West 447 feet; thence North 113 feet; thence East 447 to the point of beginning;
be, and the same is hereby changed to a Business B-2 District.
Section 2. All Ordinances or parts of Ordinances in conflict herewith are hereby repealed only to the extent necessary to give this Ordinance full force and effect.
Section 3. This Ordinance shall take effect upon publication. (Motion adopted. Considered first reading.)
2002-03
Budget Preparation Schedule
Robert Fisher, Director of Fiscal Services, presented a proposed Budget Preparation Schedule for the 2002-03 Fiscal Year.
Being no further business the meeting adjourned at 9:15 p.m.
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Penny K. Kovacevich, City Clerk