You are here: Home Government Board of Commissioners Agenda Ways & Means Committee Meetings 2013 September 18, 2013 Ways and Means Agenda

September 18, 2013 Ways and Means Agenda

September 18, 2013
6:30 p.m.
Administration Building - Board Room
220 N. Main Street
Ann Arbor, Michigan

I.  Roll Call
II.  Citizen Participation
III.  Commissioner Follow-up to Citizen Participation
IV.  New  Business

A.  Public Safety

1.    Sheriff

a.  Annual Secondary Road Patrol (SRP) Grant  (Application)  (Award Letter)

  • Ratifying the signature of the Chair of the Board
  • To the Michigan State Police, Office of Highway Safety
  • For the period of October 1, 2013 through September 30, 2014
  • To provide additional road patrol on secondary roads and in state and county parks
  • To support personnel costs for 1.58 FTE
  • For a total program of $204,228
    - State Revenue - $204,228
    - County Contribution - $0
  • This is an increase of $19,764 over the previous year's award
  • Indirect costs are not included in this grant


B.  Land Use & Environment

1.    Public Works

a. Approving Criteria for Advancing Funds to a County Municipality to Assist with a Bonded Debt Responsibility  (Resolution)

  • To determine criteria for calling bonds issued for the benefit of local units prior to maturity
  • With permission from the County Treasurer, money would be advanced from the Delinquent Tax Revolving Fund (DTRF)
  • Money would be replenished to the DTRF under an amended contractual agreement with the local unit
  • Criteria for considering the advance include the County's own indebtedness, the local unit's fiscal state, potential for savings, and an amended contract between the local unit and the County
  • Maximum amount of the advance would be $1,000,000
  • Length of the advance would be 10 years or less
  • Advance would be approved by both the Board of Commissioners and the County Treasurer


b. Advance to Reduce County Bonded Debt related to Bridgewater Township  (Contract)

  • Approving redemption of all of the callable outstanding Washtenaw County - Bridgewater Township Sanitary Wastewater System Project Bonds, series 2004, prior to maturity

  • Approving amendment to contract between Washtenaw County and Bridgewater Township

  • In 2004, bonds were sold by the County in the amount of $1,095,000 to assist Bridgewater Township with construction of a sewer system

  • Average interest rate was 4.1%

  • Currently 9 years and $585,000 left on the bonds

  • Bridgewater Township will pay off 29% of remaining principal amount, equal to $172,000

  • County will advance $430,000 from Delinquent Tax Revolving Fund

  • Reducing the County's bonded indebtedness by $585,000

  • Length of advance will be 9 years

  • Interest rate will be 2%, which is greater than the current rate of return for County pooled accounts, and will be reviewed after the first three years with possible upward adjustment not to exceed 3.5%

  • Bridgewater Township will save between $63,000 an $74,000, and are allowed prepayments of the remaining prinipal semiannually

  • The County Treasurer will receive a higher rate of return than currently achieved for pooled accounts


V. Report of the Administrator
VI. Report of the Chair of Ways & Means
VII. Report of the Chair of the Board
VIII. Items for Current/Future Discussion
IX. Pending
X. Adjournment

October 2, 2013
Board Room
220 N. Main St.,
Ann Arbor
6:30 p.m.

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