Board of Trustee Minutes

CHARTER TOWNSHIP OF BLOOMFIELD
BOARD OF TRUSTEES
MINUTES – MONDAY, SEPTEMBER 10, 2007

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

Also present, Attorney Kristen Kolb

ABSENT: None

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

ITEM #1 Approved Board Minutes of August 27, 2007

ITEM #2 Proclamation to Honor John Swoboda, Planning Commission and Board of Review Member

WHEREAS, the Bloomfield Township Board of Trustees adopts this Resolution to honor our colleague and former Township resident, JOHN SWOBODA, for his many years of dedicated service to the betterment of our community while serving on the Planning Commission and the Board of Review; and

WHEREAS, John utilized his expertise as a residential appraiser for LaSalle Bank (formerly Standard Federal Bank) in serving the community and as a resident of the Township for over 20 years; and

WHEREAS, John first served Bloomfield Township by reviewing the assessment roll as a member of the Board of Review from 1982 and dedicated his time yearly on the Board of Review through 2007; and

WHEREAS, John agreed to serve a one-year term on the Planning Commission beginning in 1989 and then committed to 18 years, working diligently and contributing his time to make Bloomfield Township an outstanding community in Oakland County; and;

WHEREAS, John retired from the Board of Review and the Planning Commission due to the sale of his home; and

WHEREAS, we reluctantly relieve John of his positions on the Board of Review and the Planning Commission, but do so with the highest regard and esteem for his personal dedication and outstanding leadership abilities.

NOW, THEREFORE BE IT RESOLVED, that the past and present members of the Board of Trustees, Planning Commission, Board of Review and the residents of Bloomfield Township HONOR JOHN SWOBODA for his many years of service and contributions to making Bloomfield Township what it is today.

FURTHER, BE IT RESOLVED, THAT WE EXTEND TO John and his wife, Carol, our best wishes for their future endeavors, such as traveling, snorkeling, and relaxing on the beach.

BE IT KNOWN to all reading this Resolution that it was adopted by the Township Board of Trustees on September 10, 2007, and included in the minutes as a permanent record.

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

NAYS: None

RESOLUTION DECLARED ADOPTED.

I, JANET M. RONCELLI, TOWNSHIP CLERK of the Charter Township of Bloomfield, County of Oakland, Michigan, do hereby certify the foregoing is a true and correct copy of a resolution adopted by the Board at their regular meeting held on September 10, 2007.

ITEM #3 Proclamation to Honor Jan Roncelli, Clerk – Certified Municipal Clerk (CMC)

WHEREAS, it has come to the attention of the Bloomfield Township Board of Trustees that Jan Roncelli, Clerk, has completed the requirements for Certified Municipal Clerk (CMC); and

WHEREAS, this designation is awarded by the International Institute of Municipal Clerks (IIMC); and

WHEREAS, eligibility for this prestigious title requires that the individual be an elected or appointed clerk or deputy clerk in a governmental entity, an active member of the IIMC and meet certain qualifications through a combination of education and experience; and

WHEREAS, attaining this certification indicates her commitment to the profession of Clerk since 2004;

NOW THEREFORE BE IT RESOLVED that Bloomfield Township recognizes this outstanding achievement by Jan Roncelli and extends its sincere Congratulations.

Dated this 10th day of September 2007.

ITEM #4 Proclamation to Honor Dan Devine, Treasurer – Certified Public Financial Administrator (CPFA)

WHEREAS, it has come to the attention of the Bloomfield Township Board of Trustees that Dan Devine, Treasurer, has completed the requirements for Certified Public Financial Administrator (CPFA); and

WHEREAS, this designation is awarded by the Association of Public Treasurers of the United States and Canada (APT US&C); and

WHEREAS, eligibility for this prestigious title requires that the individual be an elected or appointed treasurer or deputy treasurer in a governmental entity, an active member of the APT US&C and meet certain qualifications through a combination of education and experience; and

WHEREAS, attaining this certification indicates his commitment to the profession of Treasurer since 1999;

NOW THEREFORE BE IT RESOLVED that Bloomfield Township recognizes this outstanding achievement by Dan Devine and extends its sincere Congratulations.

Dated this 10th day of September 2007.

ITEM #5 Proclamation to Honor Erin Peterson, Deputy Treasurer – Certified Public Financial Administrator (CPFA)

WHEREAS, it has come to the attention of the Bloomfield Township Board of Trustees that Erin Peterson, Deputy Treasurer, has completed the requirements for Certified Public Financial Administrator (CPFA); and

WHEREAS, this designation is awarded by the Association of Public Treasurers of the United States and Canada (APT US&C); and

WHEREAS, eligibility for this prestigious title requires that the individual be an elected or appointed treasurer or deputy treasurer in a governmental entity, an active member of the APT US&C and meet certain qualifications through a combination of education and experience; and

WHEREAS, attaining this certification indicates her commitment to the profession of Deputy Treasurer since May 2002;

NOW THEREFORE BE IT RESOLVED that Bloomfield Township recognizes this outstanding achievement by Erin Peterson and extends its sincere Congratulations.

Dated this 10th day of September 2007.

ITEM #6 Resolution Authorizing Issuance of Bonds for Capital Building Program

Terence Donnelly, Bond Counselor, Dickinson Wright PLLC, made the presentation.

The bonds for the Capital Building Program are ready to be sold in the amount of 26 million dollars, as authorized by the Bloomfield Township voters. The bonds will be open to the public and "go out" for bid on October 22, 2007. The bid has to be for the full amount, so is typically bid by a brokerage firm; if the public is interested they should contact their broker.

MOTION by Barnett and SUPPORT by Stefanes to AUTHORIZE the Issuance of Bonds for the Capital Building Program.

WHEREAS, at the Primary Election held in the Township on August　8, 2006, the issuance of general obligation unlimited tax bonds in the principal amount of not to exceed $26,000,000 for the purpose of funding the Township’s long-term building program and paying the costs of (i) acquiring, constructing, furnishing and equipping a senior citizens center in the Township and acquiring and improving the site therefor, (ii) acquiring, constructing, furnishing and equipping a public services building in the Township and improving the site therefor, and (iii) acquiring, constructing, furnishing and equipping a central fire station in the Township and improving the site therefor, and renovating and constructing an addition to the Westview Road fire station (collectively, the "Project") was approved by a majority of the electors of the Township voting thereon (the vote thereon being 5,780 in favor of and 4,817 against the issuance of the bonds); and

WHEREAS, the Township Board has determined that it is in the best interest of the Township to issue bonds for such purpose at this time.

NOW, THEREFORE, BE IT RESOLVED BY THE TOWNSHIP BOARD OF THE CHARTER TOWNSHIP OF BLOOMFIELD, OAKLAND COUNTY, MICHIGAN, as follows:

1. AUTHORIZATION OF BONDS - PURPOSE. Bonds of the Township aggregating the principal sum of Twenty Six Million Dollars ($26,000,000) shall be issued and sold to defray the costs of the Project.

BOND DETAILS. The bonds shall be designated "General Obligation Unlimited Tax Bonds, Series 2007;" shall be dated November　1, 2007 or such other date determined by the Township Board at the time of sale; shall be numbered from 1 upwards; shall be fully registered; shall be in the denomination of $5,000 each or any integral multiple thereof not exceeding the aggregate principal amount for each maturity at the option of the purchaser thereof; shall bear interest at a rate or rates not exceeding 6% per annum to be determined upon the sale thereof, payable on May　1, 2008 and semiannually thereafter on the first days of May and November in each year; and shall mature on May　1 of each year as follows:

3. PAYMENT OF PRINCIPAL AND INTEREST. The principal of and interest on the bonds shall be payable in lawful money of the United States. Principal shall be payable upon presentation and surrender of the bonds to the bond registrar and paying agent as they severally mature. Interest shall be paid to the registered owner of each bond as shown on the registration books at the close of business on the 15th day of the calendar month preceding the month in which the interest payment is due. Interest shall be paid when due by check or draft drawn upon and mailed by the bond registrar and paying agent to the registered owner at the registered address.

4. BOOK-ENTRY SYSTEM. Initially, one fully-registered bond for each maturity, in the aggregate amount of such maturity, shall be issued in the name of Cede & Co., as nominee of The Depository Trust Company ("DTC") for the benefit of other parties (the "Participants") in the book-entry-only transfer system of DTC. In the event the Township determines that it is in the best interest of the Township not to continue the book-entry system of transfer or that the interests of the holders of the bonds might be adversely affected if the book-entry system of transfer is continued, the Township may notify DTC and the bond registrar and paying agent, whereupon DTC will notify the Participants of the availability through DTC of bond certificates. In such event, the bond registrar and paying agent shall deliver, transfer and exchange bond certificates as requested by DTC and any Participant or "beneficial owner" in appropriate amounts in accordance with this Bond Resolution. DTC may determine to discontinue providing its services with respect to the bonds at any time by giving notice to the Township and the bond registrar and paying agent and discharging its responsibilities with respect thereto under applicable law or the Township may determine that DTC is incapable of discharging its duties and may so advise DTC. In either such event, the Township shall use reasonable efforts to locate another securities depository. Under such circumstances (if there is no successor securities depository), the Township and the bond registrar and paying agent shall be obligated to deliver bond certificates in accordance with the procedures established by this Bond Resolution. In the event bond certificates are issued, the provisions of this Bond Resolution shall apply to, among other things, the transfer and exchange of such certificates and the method of payment of principal of and interest on such certificates. Whenever DTC requests the Township and the bond registrar and paying agent to do so, the Township and the bond registrar and paying agent shall cooperate with DTC in taking appropriate action after reasonable notice to make available one or more separate certificates evidencing the bonds to any Participant having bonds certificated to its DTC account or to arrange for another securities depository to maintain custody of certificates evidencing the bonds.

Notwithstanding any other provision of this Bond Resolution to the contrary, so long as any bond is registered in the name of Cede & Co., as nominee of DTC, all payments with respect to the principal of, interest on and redemption premium, if any, on the bonds and all notices with respect to the bonds shall be made and given, respectively, to DTC as provided in the Blanket Issuer Letter of Representations between DTC and the Township.

5. MANDATORY PRIOR REDEMPTION. If any of the bonds are designated by the original purchaser as term bonds such bonds shall be subject to mandatory prior redemption at par and accrued interest in accordance with the maturity schedule set forth in Section 2 hereof and upon the terms and conditions set forth in the form of bonds contained in Section 10 hereof. The bonds to be redeemed shall be selected by lot.

6. OPTIONAL PRIOR REDEMPTION. The bonds shall be subject to optional redemption prior to maturity upon the terms and conditions set forth in the form of bond contained in Section 10 hereof.

7. BOND REGISTRAR AND PAYING AGENT. The Bank of New York Trust Company, N.A. is hereby appointed a bond registrar and paying agent for the bonds, and the Supervisor may enter into an agreement with the bond registrar and paying agent. The Supervisor from time to time may designate, and may enter into an agreement with, a new bond registrar and paying agent, which shall be a bank or trust company located in the State of Michigan which is qualified to act in such capacity under the laws of the United States of America or the State of Michigan.

8. EXECUTION, AUTHENTICATION AND DELIVERY OF BONDS. The bonds shall be executed in the name of the Township by the manual or facsimile signatures of the Supervisor and the Township Clerk and authenticated by the manual signature of an authorized representative of the bond registrar and paying agent, and the seal of the Township (or a facsimile thereof) shall be impressed or imprinted on the bonds. After the bonds have been executed and authenticated for delivery to the original purchaser thereof, they shall be delivered by the Township Treasurer to the purchaser upon receipt of the purchase price. Additional bonds bearing the facsimile signatures of the Supervisor and the Township Clerk and upon which the seal of the Township (or a facsimile thereof) is impressed or imprinted may be delivered to the bond registrar and paying agent for authentication and delivery in connection with the exchange or transfer of bonds. The bond registrar and paying agent shall indicate on each bond the date of its authentication.

9. EXCHANGE AND TRANSFER OF BONDS. Any bond, upon surrender thereof to the bond registrar and paying agent with a written instrument of transfer satisfactory to the bond registrar and paying agent duly executed by the registered owner or his duly authorized attorney, at the option of the registered owner thereof, may be exchanged for bonds of any other authorized denominations of the same aggregate principal amount and maturity date and bearing the same rate of interest as the surrendered bond.

Each bond shall be transferable only upon the books of the Township, which shall be kept for that purpose by the bond registrar and paying agent, upon surrender of such bond together with a written instrument of transfer satisfactory to the bond registrar and paying agent duly executed by the registered owner or his duly authorized attorney.

Upon the exchange or transfer of any bond, the bond registrar and paying agent on behalf of the Township shall cancel the surrendered bond and shall authenticate and deliver to the transferee a new bond or bonds of any authorized denomination of the same aggregate principal amount and maturity date and bearing the same rate of interest as the surrendered bond. If, at the time the bond registrar and paying agent authenticates and delivers a new bond pursuant to this section, payment of interest on the bonds is in default, the bond registrar and paying agent shall endorse upon the new bond the following: "Payment of interest on this bond is in default. The last date to which interest has been paid is _________________."

The Township and the bond registrar and paying agent may deem and treat the person in whose name any bond shall be registered upon the books of the Township as the absolute owner of such bond, whether such bond shall be overdue or not, for the purpose of receiving payment of the principal of and interest on such bond and for all other purposes, and all payments made to any such registered owner, or upon his order, in accordance with the provisions of Section 4 of this Bond Resolution shall be valid and effectual to satisfy and discharge the liability upon such bond to the extent of the sum or sums so paid, and neither the Township nor the bond registrar and paying agent shall be affected by any notice to the contrary. The Township agrees to indemnify and save the bond registrar and paying agent harmless from and against any and all loss, cost, charge, expense, judgment or liability incurred by it, acting in good faith and without negligence hereunder, in so treating such registered owner.

For every exchange or transfer of bonds, the Township or the bond registrar and paying agent may make a charge sufficient to reimburse it for any tax, fee or other governmental charge required to be paid with respect to such exchange or transfer, which sum or sums shall be paid by the person requesting such exchange or transfer as a condition precedent to the exercise of the privilege of making such exchange or transfer.

The bond registrar and paying agent shall not be required to transfer or exchange bonds or portions of bonds which have been selected for redemption.

10. FORM OF BONDS. The bonds shall be in substantially the following form:

Registered Owner:

Principal Amount:

The Charter Township of Bloomfield, County of Oakland, State of Michigan (the "Township"), acknowledges itself indebted to, and for value received, hereby promises to pay to the Registered Owner identified above, or registered assigns, the Principal Amount set forth above on the maturity date specified above, unless redeemed prior thereto as hereinafter provided, upon presentation and surrender of this bond at the corporate trust office of The Bank of New York Trust Company, N.A., Detroit, Michigan, the bond registrar and paying agent, or at such successor bond registrar and paying agent as may be designated pursuant to the Resolution identified below, and to pay to the Registered Owner at the close of business on the 15th day of the calendar month preceding the month in which an interest payment is due, by check or draft drawn upon and mailed by the bond registrar and paying agent by first class mail postage prepaid to the Registered Owner at the registered address, interest on such Principal Amount until the Township's obligation with respect to the payment of such Principal Amount is discharged, at the rate per annum specified above. Interest is payable on the first days of May and November in each year, commencing on May　1, 2008. Principal and interest are payable in lawful money of the United States of America.

This bond is one of a series of bonds aggregating the principal sum of Twenty Six Million Dollars ($26,000,000) issued by the Township under and pursuant to and in full conformity with the Constitution and Statutes of Michigan and a bond authorizing resolution adopted by the Township Board of the Township (the "Resolution") for the purpose of funding the Township’s long-term building program and paying the costs of (i) acquiring, constructing, furnishing and equipping a senior citizens center in the Township and acquiring and improving the site therefor, (ii) acquiring, constructing, furnishing and equipping a public services building in the Township and improving the site therefor, and (iii) acquiring, constructing, furnishing and equipping a central fire station in the Township and improving the site therefor, and renovating and constructing an addition to the Westview Road fire station. The issuance of the bonds of this series was approved at the Primary Election held on August　8, 2006, by a majority of the qualified electors of the Township voting thereon. The full faith and credit of the Township have been pledged to the prompt payment of the principal of and interest on this bond. The Township is authorized and required to levy annually ad valorem taxes, without limitation as to rate or amount, to pay such principal and interest as the same shall become due.

This bond is transferable, as provided in the Resolution, only upon the books of the Township kept for that purpose by the bond registrar and paying agent, upon the surrender of this bond together with a written instrument of transfer satisfactory to the bond registrar and paying agent duly executed by the Registered Owner or his attorney duly authorized in writing. Upon the exchange or transfer of this bond a new bond or bonds of any authorized denomination, in the same aggregate principal amount and of the same interest rate and maturity, shall be authenticated and delivered to the transferee in exchange therefor as provided in the Resolution, and upon payment of the charges, if any, therein provided. Bonds so authenticated and delivered shall be in the denomination of $5,000 or any integral multiple thereof not exceeding the aggregate principal amount for each maturity.

Bonds maturing prior to May　1, 2019, are not subject to redemption prior to maturity. Bonds maturing on and after May　1, 2019, are subject to redemption prior to maturity at the option of the Township, in such order as shall be determined by the Township, on any date on and after May　1, 2018. Bonds of a denomination greater than $5,000 may be partially redeemed in the amount of $5,000 or any integral multiple thereof. If less than all of the bonds maturing in any year are to be redeemed, the bonds or portions of bonds to be redeemed shall be selected by lot. The redemption price shall be the par value of the bond or portion of the bond called to be redeemed plus interest to the date fixed for redemption.

Not less than thirty days notice of redemption shall be given to the holders of bonds called to be redeemed by mail to the registered holder at the registered address. Bonds or portions of bonds called for redemption shall not bear interest after the date fixed for redemption, provided funds are on hand with the bond registrar and paying agent to redeem the same.

The bond registrar and paying agent shall not be required to transfer or exchange bonds or portions of bonds which have been selected for redemption.

It is hereby certified, recited and declared that all acts, conditions and things required to exist, happen and be performed precedent to and in the issuance of the bonds of this series, existed, have happened and have been performed in due time, form and manner as required by law, and that the total indebtedness of the Township, including the series of bonds of which this bond is one, does not exceed any constitutional, statutory or charter limitation.

IN WITNESS WHEREOF, the Charter Township of Bloomfield, Oakland County, Michigan, by its Township Board, has caused this bond to be executed in its name by the manual or facsimile signatures of the Supervisor and the Township Clerk and its corporate seal (or a facsimile thereof) to be impressed or imprinted hereon. This bond shall not be valid unless the Certificate of Authentication has been manually executed by an authorized representative of the bond registrar and paying agent.

For value received, the undersigned hereby sells, assigns and transfers unto _______________________________ ________________________________________________ (please print or type name, address and taxpayer identification number of transferee) the within bond and all rights thereunder and does hereby irrevocably constitute and appoint _____________ ______________________________ attorney to transfer the within bond on the books kept for registration thereof, with full power of substitution in the premises.

Dated:_______________________ __________________________

Signature Guaranteed __________________________

Signature(s) must be guaranteed by an eligible guarantor institution participating in a Securities Transfer Association recognized signature guarantee program.

11. SECURITY. The full faith and credit of the Township are pledged for the prompt payment of the principal of and interest on the bonds authorized by this Bond Resolution as the same shall become due. There shall be levied upon all taxable property in the Township upon the tax roll of the year 2007 and upon the tax roll of each year thereafter while any of the bonds are outstanding, an amount such that the estimated collections therefrom will be sufficient to promptly pay at maturity the principal and interest maturing on the bonds prior to the time of the following year's tax collections. Taxes required to be levied to pay such principal and interest shall be levied without limitation as to rate or amount.

12. DEFEASANCE. In the event cash or direct obligations of the United States or obligations the principal of and interest on which are guaranteed by the United States, or a combination thereof, the principal of and interest on which, without reinvestment, come due at times and in amounts sufficient to pay, at maturity or irrevocable call for earlier optional redemption, the principal of, premium, if any, and interest on the bonds, or any portion thereof, shall have been deposited in trust, this Bond Resolution shall be defeased with respect to such bonds, and the owners of the bonds shall have no further rights under this Bond Resolution except to receive payment of the principal of, premium, if any, and interest on such bonds from the cash or securities deposited in trust and the interest and gains thereon and to transfer and exchange bonds as provided herein.

13. PRINCIPAL AND INTEREST FUND. There shall be established for the bonds a Principal and Interest Fund which shall be kept in a separate bank account. From the proceeds of the sale of the bonds there shall be set aside in the Principal and Interest Fund any premium and accrued interest received from the purchaser of the bonds at the time of delivery of the same. All payments made by the Township pursuant to Section 11 of this Bond Resolution are pledged for payment of the principal of and interest on the bonds and as made shall be placed in the Principal and Interest Fund.

14. CONSTRUCTION FUND. The remainder of the proceeds of the sale of the bonds shall be set aside in a construction fund and used solely to defray the costs of the Project, including any engineering, legal and other expenses incidental thereto. Any unexpended balance of the proceeds of the sale of the bonds remaining in the construction fund after completion of the Project shall be deposited in the Principal and Interest Fund established by Section 13 hereof.

15. ESTIMATES OF PERIOD OF USEFULNESS AND COST. The estimates of $29,000,000 as the cost of the Project and of 25 years and upwards as the period of usefulness thereof, as submitted to this Township Board, are approved and adopted.

16. APPROVAL OF MICHIGAN DEPARTMENT OF TREASURY. The issuance and sale of the bonds shall be subject to permission being granted therefor by the Department of Treasury of the State of Michigan pursuant to Act 34, Public Acts of Michigan, 2001, as amended ("Act 34"). If necessary, the Supervisor shall make application to the Department of Treasury for permission to issue and sell the bonds under Act　34 as provided by the terms of this Bond Resolution.

17. SALE, ISSUANCE, DELIVERY, TRANSFER AND EXCHANGE OF BONDS. The Township shall sell the bonds at not less than 99% nor more than 101% of their par value and accrued interest in accordance with the laws of this state. The Supervisor, the Township Clerk and the Township Treasurer are each authorized to execute and deliver such certificates or documents as bond counsel shall require and to do all other things necessary to effectuate the sale, issuance, delivery, transfer and exchange of the bonds in accordance with the provisions of this Bond Resolution.

18. REPLACEMENT OF BONDS. Upon receipt by the Township Clerk of proof of ownership of an unmatured bond, of satisfactory evidence that the bond has been lost, apparently destroyed or wrongfully taken and of security or indemnity which complies with applicable law and is satisfactory to the Township Clerk, the Township Clerk may authorize the bond registrar and paying agent to deliver a new executed bond to replace the bond lost, apparently destroyed or wrongfully taken in compliance with applicable law. In the event an outstanding matured bond is lost, apparently destroyed or wrongfully taken, the Township Clerk may authorize the bond registrar and paying agent to pay the bond without presentation upon the receipt of the same documentation required for the delivery of a replacement bond. The bond registrar and paying agent, for each new bond delivered or paid without presentation as provided above, shall require the payment of expenses, including counsel fees, which may be incurred by the bond registrar and paying agent and the Township in the premises. Any bond delivered pursuant the provisions of this Section 18 in lieu of any bond lost, apparently destroyed or wrongfully taken shall be of the same form and tenor and be secured in the same manner as the bond in substitution for which such bond was delivered.

19. TAX COVENANT. The Township covenants to comply with all requirements of the Internal Revenue Code of 1986, as amended, necessary to assure that the interest on the bonds will be and will remain excludable from gross income for federal income tax purposes. The Supervisor, the Township Clerk, the Township Treasurer and other appropriate Township officials are authorized to do all things necessary to assure that the interest on the bonds will be and will remain excludable from gross income for federal income tax purposes.

20. NOTICE OF SALE. Sealed bids for the purchase of the bonds shall be received up to such time as shall hereafter be determined by the Supervisor. The Notice of Sale for the bonds shall be published in accordance with law in The Bond Buyer and shall be in substantially the following form:

SEALED BIDS for the purchase of the above bonds will be received by an agent of the undersigned at the office of Bendzinski & Co., Municipal Finance Advisors, 607 Shelby, Suite 600, Detroit, Michigan 48226-3282, on __________, the ____ day of _____, 2007, until _______ o'clock,　__.M., Eastern Daylight Time, at which time and place said bids will be publicly opened and read. Signed bids may be submitted by fax, but no bid will be received after the time for receiving bids specified above and the bidder bears all risks of transmission failure.

IN THE ALTERNATIVE: Bids may be submitted electronically via PARITY pursuant to this Notice on the same date and until the same time, but no bid will be received after the time for receiving bids specified above. To the extent any instructions or directions set forth in PARITY conflict with this Notice, the terms of this Notice shall control. For further information about PARITY, potential bidders may contact Bendzinski & Co. at (313) 961-8222 or PARITY at (212)　849-5021.

BOND DETAILS: The bonds will be fully registered bonds of the denomination of $5,000 each or any integral multiple thereof not exceeding the aggregate principal amount for each maturity at the option of the purchaser thereof, dated November　1, 2007, and will bear interest from their date payable on May　1, 2008, and semi-annually thereafter.

TERM BOND OPTION: Bidders shall have the option of designating bonds maturing in the years 2019 through final maturity as serial bonds or term bonds, or both. The bid must designate whether each of the principal amounts shown above for the years 2019 through final maturity represent a serial maturity or a mandatory redemption requirement for a term bond maturity. There may be more than one term bond designated. In any event, the above principal amount scheduled for the years 2019 through final maturity shall be represented by either serial bond maturities or mandatory redemption requirements, or a combination of both. Any such designation must be made at the time bids are submitted.

PRIOR REDEMPTION:

A. MANDATORY REDEMPTION. Bonds designated as term bonds shall be subject to mandatory redemption at par and accrued interest on the dates and in the amounts corresponding to the annual principal maturities hereinbefore set forth. The bonds or portions of bonds to be redeemed shall be selected by lot.

B. OPTIONAL REDEMPTION. Bonds maturing prior to May　1, 2019 shall not be subject to optional redemption prior to maturity. Bonds maturing on and after May　1, 2019, shall be subject to redemption prior to maturity, at the option of the Township, in such order as shall be determined by the Township, in whole or in part, on any date on and after May　1, 2018, in integral multiples of $5,000 and by lot within a maturity, at par and accrued interest to the date fixed for redemption without premium.

C. NOTICE OF REDEMPTION. Not less than thirty days' notice of redemption shall be given by mail to the registered holder at the registered address. Bonds or portions of bonds called for redemption shall not bear interest after the redemption date, provided funds are on hand with the bond registrar and paying agent to redeem the same.

INTEREST RATE AND BIDDING DETAILS: The bonds shall bear interest at a rate or rates not exceeding 6% per annum, to be fixed by the bids therefor, expressed in multiples of 1/8 or 1/20 of l%, or both. The interest on any one bond shall be at one rate only and all bonds maturing in any one year must carry the same interest rate. The difference between the highest and lowest interest rate on the bonds shall not exceed 2 percentage points. No proposal for the purchase of less than all of the bonds or at a price less than 99% or more than 101% of their par value will be considered.

BOOK-ENTRY-ONLY: The bonds will be issued in book-entry-only form as one fully registered bond per maturity and will be registered in the name of Cede & Co., as nominee for The Depository Trust Company ("DTC"), New York, New York. DTC will act as securities depository for the bonds. Purchase of the bonds will be made in book-entry-only form, in the denomination of $5,000 or any integral multiple thereof. Purchasers will not receive certificates representing their interest in bonds purchased. The book-entry-only system is described further in the preliminary official statement for the bonds.

BOND REGISTRAR AND PAYING AGENT: The bonds shall be payable as to principal in lawful money of the United States upon surrender thereof at the designated corporate trust office of __________________________, ______________, Michigan, the bond registrar and paying agent. Interest shall be paid to the registered owner of each bond as shown on the registration books at the close of business on the 15th day of the calendar month preceding the month in which the interest payment is due. Interest shall be paid when due by check or draft drawn upon and mailed by the bond registrar and paying agent to the registered owner at the registered address. As long as DTC, or its nominee Cede & Co., is the registered owner of the bonds, payments will be made directly to such registered owner. Disbursement of such payments to DTC participants is the responsibility of DTC and disbursement of such payments to the beneficial owners of the bonds is the responsibility of DTC participants and indirect participants as described in the preliminary official statement for the bonds. The Township may from time to time as required designate a successor bond registrar and paying agent.

PURPOSE AND SECURITY: Issuance of the bonds was approved at the Primary Election held in the Township on August　8, 2006. The bonds are to be issued for the purpose of funding the Township’s long-term building program and paying the costs of (i) acquiring, constructing, furnishing and equipping a senior citizens center in the Township and acquiring and improving the site therefor, (ii) acquiring, constructing, furnishing and equipping a public services building in the Township and improving the site therefor, and (iii) acquiring, constructing, furnishing and equipping a central fire station in the Township and improving the site therefor, and renovating and constructing an addition to the Westview Road fire station. The full faith and credit of the Township have been pledged to the prompt payment of the principal of and interest on the bonds, and the Township is authorized and required to levy ad valorem taxes, without limitation as to rate or amount, to the extent necessary for the payment of such principal and interest.

GOOD FAITH: A certified or cashier's check drawn upon an incorporated bank or trust company or a Financial Surety Bond in the amount of $260,000 and payable to the order of the Treasurer of the Charter Township of Bloomfield must accompany each bid as a guarantee of good faith on the part of the bidder, to be forfeited as liquidated damages if such bid be accepted and the bidder fails to take up and pay for the bonds. If a check is used, it must accompany each bid. If a Financial Surety Bond is used, it must be from an insurance company licensed to issue such a bond in the State of Michigan and such bond must be submitted to the Township’s Financial Consultant referred to below prior to the opening of the bids. The Financial Surety Bond must identify each bidder whose good faith deposit is guaranteed by such Financial Surety Bond. If the bonds are awarded to a bidder utilizing a Financial Surety Bond, then the purchaser (the "Purchaser") is required to submit its good faith deposit to the Township in the form of a cashier's check (or wire transfer such amount as instructed by the Township) not later than Noon, Eastern ___________ Time, on the next business day following the award. If such good faith deposit is not received by that time, the Financial Surety Bond may be drawn upon by the Township to satisfy the good faith deposit requirement. The good faith deposit will be applied to the purchase price of the bonds. In the event the Purchaser fails to honor its accepted bid, the good faith deposit will be retained by the Township. No interest shall be allowed on the good faith checks and checks of the unsuccessful bidders will be promptly returned to each bidder's representative or by overnight courier service. The good faith check of the successful bidder will be immediately cashed and payment for the balance of the purchase price of the bonds shall be made at the closing.

AWARD OF BONDS: The bonds will be awarded to the bidder whose bid produces the lowest true interest cost to the Township. True interest cost shall be computed by determining the annual interest rate (compounded semiannually) necessary to discount the debt service payments on the bonds from the payment dates thereof to _________, 2007, and to the price bid, excluding accrued interest.

LEGAL OPINION: Bids shall be conditioned upon the approving opinion of Dickinson Wright PLLC, attorneys of Detroit, Michigan, the original of which will be furnished without expense to the purchaser of the bonds at the delivery thereof. The fees of Dickinson Wright PLLC for services rendered in connection with such approving opinion are expected to be paid from bond proceeds. Except to the extent necessary to issue its approving opinion as to the validity of the above bonds, Dickinson Wright PLLC has made no inquiry as to any financial information, statements or materials contained in any financial documents, statements or materials that have been or may be furnished in connection with the authorization, issuance or marketing of the bonds, and accordingly will not express any opinion with respect to the accuracy or completeness of any such financial information, statements or materials.

TAX MATTERS: The approving opinion of bond counsel will include an opinion to the effect that under existing law, the interest on the bonds (a) is excluded from gross income for federal income tax purposes, and (b) is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals and corporations; such opinion will note, however, that certain corporations must take into account interest on the bonds in determining adjusted current earnings for the purpose of computing such alternative minimum tax. The opinion set forth in clause (a) above will be subject to the condition that the Township comply with all requirements of the Internal Revenue Code of 1986, as amended (the "Code"), that must be satisfied subsequent to the issuance of the bonds in order that interest thereon be (or continue to be) excluded from gross income for federal income tax purposes. Failure to comply with certain of such requirements could cause the interest on the bonds to be included in gross income retroactive to the date of issuance of the bonds. The Township has covenanted to comply with all such requirements. Bond counsel will express no opinion regarding other federal tax consequences arising with respect to the bonds.

The Township has not designated the bonds as "qualified tax exempt obligations" for purposes of Section 265(b)(3) of the Code.

The successful bidder will be required as a condition of delivery of the bonds, to certify the "issue price" of the bonds within the meaning of Section 1273 of the Code. In addition, if the successful bidder will obtain a municipal bond insurance policy or other credit enhancement for the bonds in connection with their original issuance, the successful bidder will be required, as a condition of delivery of the bonds, to certify that the premium therefor will be less than the present value of the interest expected to be saved as a result of such insurance or other credit enhancement. The form of an acceptable certificate will be provided by bond counsel.

In addition, the approving opinion of bond counsel will include an opinion to the effect that under existing law, the bonds and the interest thereon are exempt from all taxation by the State of Michigan or any political subdivision thereof, except estate taxes, gross receipts taxes imposed by the Michigan Business Tax and taxes on gains realized from the sale, payment or other disposition thereof.

CUSIP: CUSIP numbers will be imprinted on all bonds of this issue at the Township's expense. Neither the failure to print numbers nor an improperly printed number will constitute basis for the purchaser to refuse to accept delivery. The purchaser shall be responsible for requesting assignment of numbers and for the payment of any charges for the assignment of numbers.

OFFICIAL STATEMENT: A copy of the preliminary official statement relating to the bonds may be obtained by contacting the Financial Consultant to the Township referred to below. The preliminary official statement is in a form deemed final by the Township for purposes of paragraph (b)(1) of SEC Rule 15c2-12 (the "Rule"), but is subject to revision, amendment and completion in a final official statement.

After the award of the bonds, the Township will provide on a timely basis 200 copies of a final official statement, as that term is defined in paragraph (f)(3) of the Rule, at the expense of the Township (and such additional copies of the final official statement as reasonably requested by, and at the expense of, the successful bidder or bidders) to enable the successful bidder or bidders to comply with paragraph (b)(4) of the Rule and the rules of the Municipal Securities Rulemaking Board. Requests for such additional copies of the final official statement shall be made to the Financial Consultant to the Township, within 24 hours of the award of the bonds.

CONTINUING DISCLOSURE: In order to enable bidders to comply with paragraph (b)(5) of the Rule, the Township will undertake, pursuant to a resolution adopted by its governing body and a continuing disclosure certificate, to provide annual reports and notices of certain events. A description of this undertaking is set forth in the preliminary official statement and will also be set forth in the final official statement.

DELIVERY OF BONDS: The Township will furnish bonds ready for execution at its expense. Bonds will be delivered without expense to the purchaser through DTC, New York, New York. The usual closing documents including a continuing disclosure certificate and a certificate that no litigation is pending affecting the issuance of the bonds, will be delivered at the time of the delivery of the bonds. If the bonds are not tendered for delivery by twelve o'clock noon, Eastern _________ Time, on the 45th day following the date of sale, or the first business day thereafter if said 45th day is not a business day, the successful bidder may on that day, or any time thereafter until delivery of the bonds, withdraw its proposal by serving notice of cancellation, in writing, on the undersigned, in which event the Township shall promptly return the good faith deposit. Payment for the bonds shall be made in Federal Reserve Funds. Accrued interest to the date of delivery of the bonds shall be paid by the purchaser at the time of delivery.

FINANCIAL CONSULTANT: Further information with respect to the bonds may be obtained from Bendzinski & Co., Municipal Finance Advisors, 607 Shelby, Suite 600, Detroit, Michigan 48226-3282, Telephone (313) 961-8222, Fax (313) 961-8220, Financial Consultant to the Township.

THE RIGHT IS RESERVED TO REJECT ANY OR ALL BIDS.

ENVELOPES containing the bids should be plainly marked "Proposal for Bonds".

Township Supervisor

Charter Township of Bloomfield

21. OFFICIAL STATEMENT. The Supervisor, Clerk or Treasurer is authorized to cause the preparation of a preliminary official statement and a final official statement for the bonds for the purpose of enabling compliance with SEC Rule 15c2-12 (the "Rule") by the successful bidder or bidders and to do all other things necessary to enable compliance with the Rule by the successful bidder or bidders. After the award of the bonds, the Township shall provide, on a timely basis, 200 copies of the final official statement at its expense (and such additional copies of the final official statement as reasonably requested by, and at the expense of, the successful bidder or bidders) to enable the successful bidder or bidders to comply with paragraph (b)(4) of the Rule and the rules of the Municipal Securities Rulemaking Board.

22. CONTINUING DISCLOSURE. The Supervisor and the Township Clerk are hereby authorized to execute a certificate of the Township to comply with the continuing disclosure undertaking of the Township with respect to the Bonds pursuant to paragraph (b)(5) of the Rule, and amendments to such certificate from time to time in accordance with the terms of such certificate (the certificate and any amendments thereto are collectively referred to herein as the "Continuing Disclosure Certificate"). The Township hereby covenants and agrees that it will comply with and carry out all of the provisions of the Continuing Disclosure Certificate.

23. CONFLICTING RESOLUTIONS. All resolutions and parts of resolutions insofar as they may be in conflict herewith are hereby rescinded.

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

NAYS: None

RESOLUTION DECLARED ADOPTED.

I, JANET M. RONCELLI, TOWNSHIP CLERK of the Charter Township of Bloomfield, County of Oakland, Michigan, do hereby certify the foregoing is a true and correct copy of a resolution adopted by the Board at their regular meeting held on September 10, 2007.

ITEM #7 Resolution Approving and Authorizing Publication of a Notice of Intent to Issue Bonds for Water & Sewer Improvements

WHEREAS, the Charter Township of Bloomfield (the "Township") proposes to issue its tax-exempt bonds (the "Bonds") under Act 34, Public Acts of Michigan, 2001, as amended ("Act 34"), to finance the hereinafter described capital improvements in the Township (the "Project"); and

WHEREAS, it is anticipated that the Township will advance a portion of the costs of the Project prior to the issuance of the Bonds, such advance to be repaid from proceeds of the Bonds upon the issuance thereof; and

WHEREAS, Section 1.150-2 of the Treasury Regulations on Income Tax (the "Reimbursement Regulations") specifies conditions under which a reimbursement allocation may be treated as an expenditure of bond proceeds, and the Township intends by this resolution to qualify amounts advanced by the Township to the Project for reimbursement from proceeds of the Bonds in accordance with the requirements of the Reimbursement Regulations.

NOW, THEREFORE, BE IT RESOLVED by the Township Board of the Charter Township of Bloomfield, Oakland County, Michigan, as follows:

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

NAYS: None

RESOLUTION DECLARED ADOPTED.

STATE OF MICHIGAN )

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COUNTY OF OAKLAND )

I hereby certify that the foregoing is a true and complete copy of a resolution adopted by the Township Board of the Charter Township of Bloomfield, Oakland County, Michigan, at a regular meeting held on September　10, 2007, the original of which resolution is on file in my office. I further certify that notice of said meeting was given in accordance with the Open Meetings Act.

ITEM #8 Hearing of Assessment – Eastover Farms Subdivision Sanitary Sewer Extension, SAD 402

Wayne Domine, Director, Engineering & Environmental, made the presentation.

The Township Board has approved two resolutions for this project; this third resolution would approve the preparation of an assessment roll. This special assessment district will affect six parcels. Preliminary cost estimates have indicated that the project will total $247,200.00 amounting to an assessment for each home of $41,200.00.

Randy Ford, Township Engineer, Hubbell, Roth & Clark, Inc., stated that the district is very small. The existing sanitary sewer is at Long Lake and Greentree . The project requires the construction of approximately 1000 feet of sanitary sewer and road restoration. If the Board approves this resolution, bids will be taken and the contract will be awarded at the next public hearing. Construction for this project would be completed by Fall 2007, but restoration of the road would not be completed until Spring 2008.

MOTION by Savoie and SUPPORT by Barnett to APPROVE the Resolution Directing the Township Assessor to Prepare the Special Assessment Roll for the Eastover Farms Sanitary Sewer Extension.

At a regular meeting of the Board of Trustees (Board) of the Charter Township of Bloomfield, Oakland County, Michigan, held at 4200 Telegraph Road, Bloomfield Hills, MI 48303-0489 on September 10, 2007.

R E C I T A T I O N S:

The Township has considered construction of the proposed improvement described below (the "Project"), and has further requested the establishment of a special assessment district to finance and defray the cost of the Project.

The Project includes installation of a 10" public sanitary sewer extension within portions of the Eastover Farms Subdivision beginning at Long Lake Road and Greentree Road, and extending northerly approximately 650 feet, then extending easterly approximately 350 feet, along Sunnyhill Court to a terminus manhole, within the public road right-of-way.

The Project is designed and intended to especially benefit the properties identified in the special assessment district attached to this Resolution, which shall be designated as Special Assessment District No. 402 (the "District").

After an initial consideration, the Township Board adopted its Resolution No. 2 declaring its tentative intent to proceed with the Project and with the establishment of the District.

Plans for the Project, and an estimate of the cost of the Project in the amount of $247,200, have been prepared and notice of public hearing has been given, according to law, to the owners of property in the District to inform them of their opportunity to present comments and objections to the Project, and to the District.

The hearing was duly conducted consistent with the Notice, and the Township Board has determined to proceed with the Project and with the establishment of the District.

NOW THEREFORE, be it resolved as follows:

1. The Township shall proceed with the Project.

2. The plans and specifications prepared for the Project and the cost estimates are approved following a public hearing.

3. The District shall consist of the properties identified in the special assessment district attached to this Resolution and against which one hundred percent (100%) of the cost of the Project shall be assessed.

4. The duration of the District’s existence shall be 20 years, and, unless paid in cash in respect to a particular property, the special assessments shall be paid in installments which shall be specified in the Township Board's Resolution confirming the special assessment roll.

5. The Township Assessor shall prepare a special assessment roll that includes all lots and parcels of land within the District with the names of the respective record owners of each property, if known, and shall also include the total amount to be assessed against each property. The amount to be assessed against each property shall be based upon the proportionate amount of special benefit to be received by each property from the Project. The amount spread in each case shall be based upon the detailed estimate of costs as approved by the Township Board.

6. When the Assessor completes the assessment roll, he shall file it with the Township Clerk for presentation to the Township Board, along with his certification that the roll has been made pursuant to law and this Resolution of the Township Board and that, in making the assessment roll, the Assessor has in his best judgment conformed in all respects to the law and the directions contained in this Resolution. Upon receipt, the Township Clerk shall forthwith present the roll and the Assessor’s certification to the Township Board.

It is hereby certified that the foregoing Resolution is a true and accurate copy of the Resolution adopted by the Township Board of the Charter Township of Bloomfield at a meeting duly called and held on September 10, 2007.

Parcel Nos.

19-12-452-011

19-12-452-012

19-12-476-009

19-12-476-010

19-12-476-013

19-12-476-036

ITEM #9 Bloomfield Park 425 Agreement Site Plan

Patti McCullough, Director of Planning and Building, made presentation.

Per the 425 Agreement, site plans for Bloomfield Park Phase 1 are reviewed by the Joint Development Council (JDC). The committee consists of a representative from the City of Pontiac, one from the court, and the Township’s representative, Dan Devine.

Some of the buildings proposed are within Bloomfield Township’s boundaries, as opposed to the 425 Agreement. These sites were reviewed and tabled by the Township’s Planning Commission at their July 16, 2007 meeting due to outstanding items, which include approved shared parking and traffic impact studies. The Township has worked closely with the City of Pontiac’s Planning Department.

Mike Labadie, the Township’s Traffic Consultant, Tetra Tech, reviewed the shared parking and traffic impact studies with the Board. Shared parking is a concept where space may be utilized without interference; it is an accepted concept across the country. There is a sufficient number of spaces on the site. The traffic impact study is problematic. There needs to be a mitigation plan and consistency with accepted practice. Traffic from the Target Development is also being reviewed in the Bloomfield Park study. Traffic has been a major concern with the project and how it relates to the Michigan Department of Transportation (MDOT) requirements, driveway spacing, traffic signals and traffic circulation.

The Township’s Planning Commission has expressed concerns with the site plans for the Bloomfield Park Phase 1 project. The Commission requires satisfactory completion of the traffic impact studies and recommends that the JDC do the same.

ITEM #10 Request for Financial Assistance from Bloomfield Hills Schools to Restore Wing Lake School

Wing Lake School is a schoolhouse that dates back to 1859. It has much historical value for the school district and Township. The Bloomfield Hills School District has asked the Township to contribute money for renovations of this building.

Discussion ensued regarding the Board’s desire for the Bloomfield Historical Society to play a greater role in the restoration and public use of this building. Also, discussion included who would be responsible for maintaining the building and landscaping. The consensus was that it should be the school district’s responsibility and that an agreement should be prepared that would document these stipulations by the Board.

MOTION by Devine and SUPPORT by Barnett to APPROVE a $100,000.00 Contribution to Bloomfield Hills School District for Restoration of the Wing Lake School Contingent Upon A Written Contractual Agreement that Addresses the Recommendations by the Board.

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

NAYS: None

RESOLUTION DECLARED ADOPTED.

I, JANET M. RONCELLI, TOWNSHIP CLERK of the Charter Township of Bloomfield, County of Oakland, Michigan, do hereby certify the foregoing is a true and correct copy of a resolution adopted by the Board at their regular meeting held on September 10, 2007.

ITEM #11 Forest Lake Weir Resolution No. 2

The Board approved resolution No. 1 at their June 11, 2007 meeting. Easement and temporary construction agreements have been signed and notarized for the project. The Township will not be responsible for maintaining the Weir once it is constructed. If this resolution is approved, a public hearing will be held at the Board meeting on October 8, 2007.

This matter also affects West Bloomfield Township, as part of Upper Long Lake resides in their jurisdiction. They will consider approval of resolutions one and two at their meeting on September 24, 2007.

MOTION by Barnett and SUPPORT by Stefanes to APPROVE Resolution No. 2 for the Forest Lake Weir Restoration Project.

At a regular meeting of the Board of Trustees (Board) of the Charter Township of Bloomfield, Oakland County, Michigan, held at Bloomfield Township Hall, 4200 Telegraph Road, Bloomfield, MI 48303-0489 on September 10, 2007.

RECITALS

The Clerk presented the Board the plans provided by the Township’s Consulting Engineer, describing the proposed improvement mentioned in the following resolution, the location thereof, the special assessment district to be benefited by said improvement, and a cost estimate in the amount of $114,000.00, for said improvement.

WHEREAS, The Board on June 11, 2007 passed a resolution declaring its intention to make the improvement described in that resolution to be known as Forest Lake Outlet Control Structure Special Assessment District No. 401; and

WHEREAS, the Township’s Consulting Engineer has prepared, upon request, plans for the proposed improvement and the location thereof, and the estimate of the costs of said improvement;

NOW, THEREFORE, IT IS RESOLVED THAT:

1. The Board tentatively declares its intention to make the Forest Lake Outlet Structure improvements, described as follows: