Board of Trustee Minutes

CHARTER TOWNSHIP OF BLOOMFIELD
BOARD OF TRUSTEES
February 28, 2005

PRESENT: Payne, Roncelli, Devine, Stefanes, Buckley, Barnett

Also present, Attorney William Hampton

ABSENT: Leo Savoie

Supervisor Payne welcomed the public and led the Pledge of Allegiance.

8:00 P.M. 2005-2006 FISCAL YEAR BUDGET PUBLIC HEARING: Supervisor Payne called the Public Hearing to order for consideration of the 2005-2006 Fiscal Year Budget. In accordance with Charter Township regulations, the proposed budget was introduced to the Board of Trustees on December 13, 2005. Payne outlined the budget explaining sources of revenues and expenditures. After discussion of the budget items, the following motion was made by Barnett and supported by Buckley:

RESOLVED, that this resolution shall be the general appropriations of Bloomfield Township, by fund and account group, for the fiscal year ending March 31, 2006. This resolution makes appropriations, provides for the expenditure of the appropriations, and provides for the disposition of all income received by Bloomfield Township on a fund or account group basis.

RESOLVED, that the Township 2005-2006 Budget is hereby adopted and shall be permanently placed on file in the Clerk’s office and available for public view.

FURTHER RESOLVED, that no Township Board member or employee of Bloomfield Township shall expend any funds or obligate expenditures of any funds except pursuant to appropriations made by the Board. Changes in the amount appropriated by the Township Board shall require approval by the Township Board.

BE IT FURTHER RESOLVED that the Township Supervisor is hereby charged with general supervision of the execution of the budget adopted by the Township Board and shall hold the department heads and employees responsible for performance of their responsibilities within the amounts appropriated by the Township Board.

YEAS: Payne, Roncelli, Devine, Stefanes, Buckley, Barnett

NAYS: None

MOTION WAS MADE BY Barnett and supported by Buckley to CLOSE the 2005-2006 Budget Public Hearing.

Item #1: The Board minutes of February 14, 2005 were approved as printed. The Special Meeting of February 1, and Study Session of February 11, 2005 were approved with corrections.

Item #2: Consider recommendation not to participate in the State of Michigan’s EAB Program.

Jerry Marenger, Roads Division Superintendent, presented his recommendation to the Board not to participate in the State-Sponsored Emerald Ash Borer Tree Removal Program. Marenger stated that many of our neighboring communities agree and have chosen not to participate in the program. A letter will be mailed to all residents explaining how the Township came to this difficult yet necessary decision.

MOTION WAS MADE BY Devine and supported by Roncelli to DECLINE participation in the State-Sponsored Emerald Ash Borer Tree Removal Program.

AYES: Payne, Roncelli, Devine, Stefanes, Buckley, Barnett

NAYS: None

Item #3: Consider 5-year Resolution for Goose Round Up.

MOTION WAS MADE BY Stefanes and supported by Roncelli to ADOPT the following 5-year Resolution for Goose Round Up in Bloomfield Township in accordance with MDEQ standards.

WHEREAS there is an increasing need for different techniques to resolve urban geese conflicts; and

WHEREAS nest destruction is one possible tool to control site-specific nuisance goose problems; and

WHEREAS the MDNR has set the forth guidelines, for those interested in receiving a permit, that allows the removal and destruction of real goose eggs to assist in goose population control; and

WHEREAS the application must be obtained from the Michigan Department of Natural Resources Wildlife Division (DNR Wildlife Division); and

WHEREAS a lake association, which represents property owners on the subject lake/body of water/site, can submit the appropriate forms/paperwork to the DNR Wildlife Division and are responsible for adhering to the appropriate DNR requirements and procedures; and

WHEREAS this Resolution includes, but is not limited to the following lake associations/lakes:

Echo Lake, Forest Lake, Gilbert Lake, Hammond Lake, Heather Lake in Chestnut Run North Subdivision, Hunter Lake, Island Lake, Kern Lake, Kirkwood Lake, Lower Long Lake, Meadow Lake, Minnow Lake, Orange Lake, Shorewood Lake, Sodon Lake, Upper Long Lake, Wabeek Country Club and Wing Lake; and

WHEREAS this Resolution submitted will be valid for a 5-year period, but the applicant must apply annually for the program 2005 – 2010.

NOW THEREFORE BE IT RESOLVED the Charter Township of Bloomfield does hereby adopt this Resolution for the control of the goose population for 2005 – 2010.

AYES: Payne, Roncelli, Devine, Stefanes, Buckley

NAYS: Barnett

Item #4: Township Investment Policy Amendment Resolution.

Treasurer Dan Devine made a presentation and recommendations to the Township Board regarding an Investment and Depository Designation Policy Amendment.

MOTION WAS MADE BY Devine and supported by Roncelli to ADOPT the following Resolution:

WHEREAS, Michigan Compiled Laws Section 129.95 directs that a Township Board of Trustees, in consultation with the Township Treasurer, shall adopt an investment policy which shall require periodic review and appropriate amendments thereof, and

WHEREAS, the Bloomfield Township Board of Trustees adopted such a policy on September 14, 1998 and was amended by the Board in January 2003 pursuant to the recommendation of the Township Treasurer and Township Finance Director, and

WHEREAS, the existing policy has been reviewed again by the Township Treasurer and Township Finance Director and which requires appropriate amendment at this time to maximize potential investment gain for Bloomfield Township while adhering to the investment objectives and standards of prudence as previously adopted by the Board of Trustees, and

WHEREAS, Michigan Compiled Laws Section 41.77 directs the Township Treasurer to deposit money that comes into the Township into the financial institutions that the Township Board of Trustees approves, and

WHEREAS, Michigan Compiled Laws Section 41.77 and Michigan Compiled Laws Section 129.91 allow Township money to be invested in securities issued or guaranteed by the government national mortgage association or the federal national mortgage association, and

WHEREAS, a prudent investment strategy would include consideration of investing in fixed income securities that are AAA rated by Standard & Poors, have maturities of five years or less, are readily marketable issues, and have significant trading volume within a continuous market and are within the parameters of MCL 41.77 and MCL 129.91, and

WHEREAS, the attached amended document entitled "Bloomfield Township Investment and Depository Designation Policy" is being recommended by the Township Treasurer and Township Finance Director for adoption by the Township Board of Trustees.

THEREFORE BE IT RESOLVED that the Board of Trustees for the Charter Township of Bloomfield authorizes adoption of the following document to be entitled "Bloomfield Township Investment and Depository Designation Policy as amended February 28, 2005."

1. Statement of Purpose

WHEREAS, the Board of Trustees of Bloomfield Township, Oakland County, in exercising its fiduciary responsibilities, desires to safeguard the funds of the township that may be invested from time to time, and

WHEREAS, Public Act 77 of 1989, MCL 41.77, requires that the township board designate the financial institutions for the money belonging to the township, including the time for which the deposits shall be made and all details for carrying into effect the authority given in this act, and

WHEREAS, the Public Act 167 of 1997, MCL 129.95, et seq., requires township boards, in consultation with the township treasurer, to adopt an investment policy, now

2. Scope of Policy

THEREFORE BE IT RESOLVED, That this policy is applicable to all public funds belonging to Bloomfield Township and in the custody of the township treasurer.

3. Delegation of Authority to Make Investments

BE IT FURTHER RESOLVED, That the Bloomfield Township treasurer is authorized to manage funds belonging to the township, including depositing funds in approved financial institutions and administrating investments in conformance with MCL 41.77 and the policies as set forth in this resolution.

• Audited financial statements,

• Proof of NASD certification or FDIC insurance,

• Proof of state registration and

• Certification of having read, understood and agreement to comply with the Bloomfield Township investment policy.

7. Investment Objectives

BE IT FURTHER RESOLVED, That the objectives of this policy are foremost, to maintain safety of principal of township funds; secondarily, to maintain a diversified investment portfolio; maintain adequate liquidity, and achieve a market rate of return on relatively safe investment instruments.

To accomplish these objectives, decisions and actions involving the township’s investment portfolio shall meet the following criteria:

Safety: Safety of principal is the foremost objective of Bloomfield Township’s investment practices. Investments shall be undertaken in a manner that seeks to ensure the preservation of capital in the overall investment portfolio. The treasurer shall minimize credit risk by investing only in the safer types of securities, pre-qualifying financial institutions, intermediaries, and advisers, with whom the township will do business; and diversifying the investment portfolio so that the impact on the investment portfolio resulting from losses on individual securities will be minimized.

Diversification: The investments shall be diversified by avoiding over concentration in securities from a specific issuer or business sector, excluding U.S. Treasury securities. Investments shall have varying maturities. Investment instrument selection shall avoid high credit risks and shall include use of readily available funds, such as local government investment pools to maintain sufficient liquidity.

Liquidity: The investment portfolio shall remain sufficiently liquid to meet all operating requirements that may be reasonably anticipated. Securities shall have maturity date concurrent with cash flow needs. The treasurer shall minimize interest rate risk by avoiding the need to sell securities prior to maturity and invest operating funds primarily in short-term securities, or public investment pools. Securities shall not normally be sold prior to maturity except to minimize loss of principal; to improve the quality, yield or target duration in the portfolio, or to meet liquidity needs.

Return on Investment: The investment portfolio shall be designed to attain a market average rate of return during budgetary and economic cycles while taking into account investment risk constraints and liquidity needs. Return on investment is of secondary importance compared to safety and liquidity objectives. The core of investments is limited to relatively low-risk securities, and a fair rate of return relative to risk is assumed.

8. Standard of Prudence

BE IT FURTHER RESOLVED, That the treasurer shall make such investments and only such investments as a prudent person would make in dealing with the property of another, having in view the preservation of the principal and the amount and regularity of the income to be derived.

The standard of prudence to be used shall be the "prudent investor" standard and shall be applied in context of managing an overall portfolio.

9. Statement of Ethics

BE IT FURTHER RESOLVED, That the treasurer shall refrain from personal business activity that could conflict with the proper execution and management of township investments, or that could impair the treasurer’s ability to make impartial investment decisions.

10. Investment Activity Report

BE IT FURTHER RESOLVED, That the treasurer shall annually provide a written report to the township board concerning the investment of township funds.

BE IT FURTHER RESOLVED, That the township shall comply with all applicable statutory standards for investment of public funds as they now exist or as they may be subsequently amended. Any provision of this resolution that conflicts with applicable statutory requirements and standards is void.

I have read and fully understand Public Act 20 for the State of Michigan and the Investment Policy of the Charter Township of Bloomfield. Any investment advice or recommendation given by _______________, representing ________________ to the Treasurer of Bloomfield Township shall comply with the requirements of Public Act 20 and the Investment Policy of Bloomfield Township. Any existing investment not conforming with both documents will be disclosed promptly.

By: _________________________________ Date: ________________

Title: _________________________________

AYES: Payne, Roncelli, Devine, Stefanes, Buckley, Barnett

NAYS: None

Item #5: Consider donation request from Common Ground Sanctuary.

MOTION WAS MADE BY Buckley and supported by Barnett to TABLE this request until more information is made available to the Board regarding exactly how this donation benefits Township residents.

AYES: Payne, Roncelli, Devine, Stefanes, Buckley, Barnett

NAYS: None

Item #6: Consider Resolution for Deputy Clerk.

WHEREAS, the Clerk of the Charter Township of Bloomfield shall select a Deputy Clerk; and

WHEREAS, pursuant to MCL 41:69, the Township Board of Trustees determines the salary to be paid to the Deputy Clerk; and

WHEREAS, the Clerk of the Charter Township of Bloomfield has established a job description and conducted a salary study (attached for Board review) indicating an appropriate salary range of $55,000.00 to $66,000.00, along with the incremental increases in employee salaries and benefits provided to other

full-time Bloomfield Township employees, for the position of Deputy Clerk; and

WHEREAS, the Clerk of the Charter Township of Bloomfield recommends said salary range and requests that the Board of Trustees determines that range to be appropriate, along with the incremental increases in salary and benefits provided to other full-time Bloomfield Township employees,

THEREFORE BE IT RESOLVED, that the Board of Trustees of the Charter Township of Bloomfield determines the salary range for the position of Deputy Clerk to be $55,000.00 to $66,000.00 along with the incremental increases in employee salaries and benefits provided to other full-time Bloomfield Township employees.

AYES: Payne, Roncelli, Devine, Stefanes, Buckley, Barnett

NAYS: None

MOTION WAS MADE BY Stefanes and supported by Devine to APPROVE payroll and vouchers A000697-A000717, B005264-B005417, E001370-E001386 totaling $4,622,673.64.

Supervisor Payne informed the Board that he investigated the complaint brought to the Board’s attention on February 14, 2005, by Dr. Theodore Golden, 1746 Bellwood Court. Payne is satisfied this issue was handled in the proper manner.

Payne reminded the Board about the continued need for additional space for the Roads Division. One option is leasing the Recreation Building, 4174 Dublin Drive, owned by the Bloomfield Hills School District. Attorney Hampton reviewed the proposed lease and asked the Board to adopt a purchase/option resolution.

MOTION WAS MADE BY Buckley and supported by Barnett to ADOPT the following resolution:

WHEREAS the Charter Township of Bloomfield Board of Trustees is reviewing a revised lease agreement for the Recreation Building, 4174 Dublin Drive, owned by the Bloomfield Hills School District; and

WHEREAS the Township attorney has recommended to the Board of Trustees a proposed revision to the draft of the land and building lease for the recreation building; and

WHEREAS the Board of Trustees has reviewed and accepted the following terms of the revision, Article 2, Term of Lease/Renewal/Offers to Purchase/Option to Purchase:

BE IT RESOLVED that the Charter Township of Bloomfield Board of Trustees unanimously agrees that any lease agreement should contain Article 2, Term of Lease/Renewal/Offers to Purchase/Option to Purchase, as presented by the Township attorney.

AYES: Payne, Roncelli, Devine, Stefanes, Buckley, Barnett

NAYS: None

Payne also distributed to the Board a Professional Planning Agreement for design services to be considered by the Board. A copy of which is on file in the Clerk’s office.

MOTION WAS MADE BY Buckley and supported by Barnett to TABLE consideration of the lease until the Board has received copies of the lease and has ample time to study the conditions of the lease.

AYES: Payne, Roncelli, Devine, Stefanes, Buckley, Barnett

NAYS: None

Meeting adjourned at 9:40 P.M.

________________________________

JANET RONCELLI

TOWNSHIP CLERK

A complete copy of the minutes may be ordered (tape or CD) from the Clerk's office for a nominal charge of $5.00.

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Bloomfield Hills, MI 48303-0489
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