ADOPTED - SEPTEMBER 28, 2010

                                                                                                                                                   Agenda Item No. 25

Introduced by County Services and Finance Committees of the:

INGHAM COUNTY BOARD OF COMMISSIONERS

RESOLUTION DESIGNATING A RECOVERY ZONE DEVELOPMENT BOND ALLOCATION FOR THE INGHAM COUNTY 911 CENTER

RESOLUTION #10-300

WHEREAS, the Ingham County Board of Commissioners has established the entire Ingham County as a Recovery Zone (Resolution #09-359) effective October 27, 2009 in order to be able to issue Recovery Zone Economic Development and Recovery Zone Facility Bonds to facilitate economic development; and

WHEREAS, the Board of Commissioners supported the Ingham County Economic Development Corporation application process (Resolution #09-381) and encouraged eligible parties to apply for Ingham County allocations of Recovery Zone Bond financing; and

WHEREAS, the Ingham County Economic Development Corporation accepted project applications for Recovery Zone Bonds that were submitted by the first date of November 20, 2009, reviewed those projects based on their response to application questions including descriptions of the proposed project, its financing, economic impacts, its benefits to the community, its sustainable or environmentally considerate activities and its impacts on county tax revenues; and

WHEREAS, the Ingham County Economic Development Corporation recommended reserving a portion of the County’s current allocation of the Recovery Zone Development Bonds for the Ingham County 911 Center project in the amount of $4,855,000; and

WHEREAS, the Board of Commissioners authorized the reserve of $4,855,000 (Resolution #09-408) of its Recovery Zone Development Bond allocations for the Ingham County 911 Center; and

WHEREAS, the Board of Commissioners is recommending that the Ingham 911 Center Project be turned over to the Ingham County Building Authority so as to move forward with construction.

THEREFORE BE IT RESOLVED, pursuant to the authority vested in the Ingham County Board of Commissioners by sections 1400 U-1 through 1400 U-3 of the Internal Revenue Code of 1986 as amended to issue Recovery Zone Bonds, the Ingham County Board of Commissioners hereby designates up to $4,855,000 of the County’s current allocation of Recovery Zone Development Bonds for the Ingham County 911 Center project.

BE IT FURTHER RESOLVED, that the Ingham County Board of Commissioners intends to issue Qualified Energy Conservation Bonds allocated to Ingham County via the American Recovery and Reinvestment Act of 2009 (ARRA – QECB) in an amount up to $1,740,102 for the Ingham County 911 Center project.

ADOPTED - SEPTEMBER 28, 2010

                                                                                                                                                  Agenda Item No. 25

RESOLUTION #10-300

BE IT FURTHER RESOLVED, that the County Clerk and the Chairperson of the Board of Commissioners are hereby authorized to sign any necessary documents consistent with this resolution on behalf of the County after approval as to form by the County Attorney.

COUNTY SERVICES:  Yeas:  Copedge, Celentino, Grebner, McGrain, Vickers

Nays:  None          Absent:  Schor        Approved 9/21/10

FINANCE:   Yeas:  Grebner, Tennis, Holman, Dougan

Nays:  None         Absent: Schor, Bahar-Cook    Approved 9/22/10