Quake on the Lake is an annual power boat event with more than 70 hydroplane racers from around the US and Canada. County Indebtedness SECTION VIII

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1 The Woodward Dream Cruise, the world s largest one-day celebration of car culture, attracts more than 1 million visitors and more than 40,000 muscle cars, street rods, custom, collector and special interest vehicles. Cruisers and spectators drive along a 16-mile route through nine communities in Oakland County. SECTION VIII County Indebtedness The Meadow Brook Concours d Elegance is an annual event that showcases the world s finest antique and classic automobiles, displayed in a lavish outdoor exhibition at scenic Meadow Brook Hall, a historic auto baron s mansion on the campus of Oakland University. Quake on the Lake is an annual power boat event with more than 70 hydroplane racers from around the US and Canada.

2 BOND AND INTEREST REDEMPTION FUNDS

3 L. Brooks Patterson, County Executive OAKLAND COUNTY, MICHIGAN FY BIENNIAL BUDGET BOND AND INTEREST REDEMPTION FUNDS The following schedules depict the County s General Fund annual bond and interest redemption obligations for the period 2006 through Bond proceeds were utilized to finance several County facilities including: -Lyon Oaks Park -Computer Center -Courthouse West Wing Extension -Work Release Facility -2/3 District Court - Rochester -Rochester Hills Sheriff Substation -New Office Building Renovation -Airport T-Hangar -Pontiac Phoenix Center -Community Mental Health Authority Ownership of the facilities resides with the Oakland County Building Authority during the life of the bonds. Revenue to defray outstanding obligations is derived from rental charges to the General Fund and Delinquent Tax Revolving fund for interest and principal payments. Upon bond retirement, ownership is transferred to the County. VIII-1

4 Oakland County, Michigan FY 2008/FY2009 BIENNIAL BUDGET BOND AND INTEREST REDEMPTION FUNDS Lyon Oaks Park #31407 Actual Actual Actual Adopted Budget Adopted Budget Fund Balance - October 1 $ $ 69 $ (117) $ (101) $ (101) Transfers In 62,869 68,7 7,123 80,62 83,987 Interest Income Total Revenue 62,933 69,702 7,891 80,62 83,987 Principal Payments 40,000 47,000 00,000 2,000 0,000 Interest Payments 112,69 94,88 7,7,32 33,687 Paying Agent Fees Total Expenditures 62,869 69,888 7,87 80,62 83,987 Incr/(Decr) Fund Balance 64 (186) Fund Balance - September 30 $ 69 $ (117) $ (101) $ (101) $ (101) Bldg. Auth. Refunding 2004 (Computer Ctr) Actual Actual Actual Adopted Budget Adopted Budget #3148 Fund Balance - October 1 $ 2,291 $ $ $ $ - Transfers In 80,620 82,206 1,081,688 1,04,171 - Interest Income Total Revenue 80,620 82,206 1,081,688 1,04,171 - Principal Payments 3,000 3,000 1,03,000 1,030,000 - Interest Payments 47,906 47,206 46,463 23,176 - Paying Agent Fees ,000 - Total Expenditures 82,906 82,206 1,081,688 1,04,176 - Incr/(Decr) Fund Balance (2,286) - - () - Fund Balance - September 30 $ $ $ $ - $ - West Wing Extension 1998 Refunding #3147 Actual Actual Actual Adopted Budget Adopted Budget Fund Balance - October 1 $ $ $ $ $ Transfers In 1,439,388 1,481,044 1,463,763 1,449,90 1,479,070 Interest Income Total Revenue 1,439,388 1,481,044 1,463,763 1,449,90 1,479,070 Principal Payments 1,10,000 1,19,000 1,230,000 1,270,000 1,3,000 Interest Payments 334,088 28, , ,60 123,770 Paying Agent Fees Total Expenditures 1,439,388 1,481,044 1,463,763 1,449,90 1,479,070 Incr/(Decr) Fund Balance Fund Balance - September 30 $ $ $ $ $ VIII-2

5 Oakland County, Michigan FY 2008/FY2009 BIENNIAL BUDGET BOND AND INTEREST REDEMPTION FUNDS Work Release Facility #31411 Actual Actual Actual Adopted Budget Adopted Budget Fund Balance - October 1 $ $ $ (270) $ $ Transfers In 1,908,00 1,898,32 1,886,700 1,872,376 1,86,26 Interest Income Total Revenue 1,908,00 1,898,32 1,886,700 1,872,376 1,86,26 Principal Payments 87, ,000 92,000 90,000 97,000 Interest Payments 1,033,00 998,00 961,10 921, ,26 Paying Agent Fees ,000 1,000 Total Expenditures 1,908,00 1,898,600 1,886,42 1,872,376 1,86,26 Incr/(Decr) Fund Balance - (27) Fund Balance - September 30 $ $ (270) $ $ $ Rochester (2-3) District Court #31421 Actual Actual Actual Adopted Budget Adopted Budget Fund Balance - October 1 $ $ $ (270) $ $ Transfers In 1,379,63 1,38,338 1,388,67 1,391,37 1,41,27 Interest Income Total Revenue 1,379,63 1,38,338 1,388,67 1,391,37 1,41,27 Principal Payments 60,000 67, ,000 72,000 77,000 Interest Payments 729,63 710, ,12 66,37 639,27 Paying Agent Fees ,000 1,000 Total Expenditures 1,379,63 1,38,613 1,388,400 1,391,37 1,41,27 Incr/(Decr) Fund Balance - (27) Fund Balance - September 30 $ $ (270) $ $ $ Rochester Hills Sheriff Substation #31420 Actual Actual Actual Adopted Budget Adopted Budget Fund Balance - October 1 $ - $ - $ (270) $ 276 $ 276 Transfers from Municipalities 397,088 1,232, ,704 36,788 38,194 Interest Income Total Revenue 397,088 1,232, ,109 36,788 38,194 Principal Payments 200, , ,000 22,000 22,000 Payment to Bond Escrow Agent - 860, Interest Payments 197, , , , ,194 Paying Agent Fees ,000 1,000 Total Expenditures 397,088 1,232, ,63 36,788 38,194 Incr/(Decr) Fund Balance - (270) Fund Balance - September 30 $ - $ (270) $ 276 $ 276 $ 276 VIII-3

6 Oakland County, Michigan FY 2008/FY2009 BIENNIAL BUDGET BOND AND INTEREST REDEMPTION FUNDS New Office Building Renovation #3141 Actual Actual Actual Adopted Budget Adopted Budget (Series 2003 & 2004A) Fund Balance - October 1 $ $ $ (270) $ 260 $ 260 Transfers In 1,923,77 2,060,664 2,089,381 2,089,101 2,082,600 Interest Income Total Revenue 1,923,77 2,060,664 2,089,381 2,089,101 2,082,600 Principal Payments 97,000 1,000,000 1,00,000 1,07,000 1,100,000 Interest Payments 948,0 1,060,164 1,038,31 1,012, ,600 Paying Agent Fees ,000 2,000 Total Expenditures 1,923,77 2,060,939 2,088,81 2,089,101 2,082,600 Incr/(Decr) Fund Balance - (27) Fund Balance - September 30 $ $ (270) $ 260 $ 260 $ 260 Airport T-Hangar #31417 Actual Actual Actual Adopted Budget Adopted Budget Fund Balance - October 1 $ - $ 610 $ 72 $ 170 $ 170 Transfers In 03, , ,39 488, ,12 Interest Income Total Revenue 04, , , , ,12 Principal Payments 230,000 23, ,000 20,000 2,000 Interest Payments 273, , , , ,12 Paying Agent Fees ,000 1,000 Total Expenditures 03, , , , ,12 Incr/(Decr) Fund Balance () - - Fund Balance - September 30 $ 610 $ 72 $ 170 $ 170 $ 170 Pontiac Phoenix Center #31440 Actual Actual Actual Adopted Budget Adopted Budget Fund Balance - October 1 $ - $ - $ 11,698 $ 1,46 $ 601 Transfers from Municipalities - - 1,089,670 97, ,162 Interest Income - 11,973 1, Total Revenue - 11,973 1,091,201 97, ,162 Principal Payments ,000 37,000 37,000 Interest Payments ,078 83,362 64,612 Paying Agent Fees Total Expenditures ,101,33 98, ,162 Incr/(Decr) Fund Balance - 11,698 (10,12) (94) - Fund Balance - September 30 $ - $ 11,698 $ 1,46 $ 601 $ 601 VIII-4

7 Oakland County, Michigan FY 2008/FY2009 BIENNIAL BUDGET BOND AND INTEREST REDEMPTION FUNDS Pontiac Phoenix Ctr Refunding #31441 Actual Actual Actual Adopted Budget Adopted Budget Fund Balance - October 1 $ - $ - $ 620 $ 1,104 $ 394 Transfers from Municipalities - 190,18 389, , ,038 Interest Income - 7, Total Revenue - 197, , , ,038 Principal Payments - 110,000 4,000 4,000 0,000 Interest Payments - 87, , , ,488 Paying Agent Fees Total Expenditures - 197, , ,6 392,038 Incr/(Decr) Fund Balance (710) - Fund Balance - September 30 $ - $ 620 $ 1,104 $ 394 $ 394 CMHA Housing Project #31417 Actual Actual Actual Adopted Budget Adopted Budget Fund Balance - October 1 $ - $ - $ - $ 8,466 $ Transfers from Community Mental Health Auth , ,207 Interest Income - - 8, Total Revenue - - 8, , ,207 Principal Payments , ,000 Interest Payments , ,932 Paying Agent Fees Total Expenditures , ,207 Incr/(Decr) Fund Balance - - 8,466 (8,461) - Fund Balance - September 30 $ - $ - $ 8,466 $ $ VIII-

8 COUNTY SHARE OF INDEBTEDNESS

9 L. Brooks OAKLAND Patterson, COUNTY, County MICHIGAN Executive FY BIENNIAL BUDGET COUNTY SHARE OF INDEBTEDNESS CURRENT PAYMENTS The following schedule provides a summary of overlapping debt obligations for the budget period, including annual principal and interest payments for 2008 and Except for Building Authority Bonds, for which the County is the primary obligor, the Drain Bonds derive their financing through Special Assessments with the local unit designated the primary obligor and the County in a secondary position. The County has the authority to issue up to $7.73 billion in debt (10% percent of its State Equalized Value); however, the actual outstanding debt is $889.9 million, or 11.% of the permissible amount. Oakland County s Administrative Policy is to purchase property, build facilities, enhance technology or make major capital purchases out of existing resources whenever possible; usually through the use of fund balance. In 200, the General Fund Balance was used to pay for cost saving technology enhancements such as implementation of the Peoplesoft Financial and Supply Chain System, expansion of the COMSTAT website to enhance community policing efforts, and improvements to the Community Corrections database. Renovations to the Sheriff s Dispatch Center were also paid for from the General Fund Balance. The County attempts to retain an amount equal to at least 10% of the General Fund/General Purpose budget in fund balance. Should a project jeopardize this minimum level of fund balance, other sources of funding will be sought. If fund balance is not available, and the project is not overly expensive, the County will borrow from the Delinquent Tax Revolving Fund (DTRF), with the approval of the County Treasurer and the Board of Commissioners. The DTRF is an Enterprise Fund, which generates income from the interest and penalties earned on delinquent real and personal property taxes. The DTRF pays local units of government their share of the delinquent tax, and retains the receivable. A repayment agreement is developed when funds are borrowed from the DTRF. This agreement includes a repayment schedule and the interest to be repaid, usually tied to the six-month Treasury Bill rate. Only when a project is of sufficient size that the use of fund balance or borrowing from the DTRF is not a viable option, will the County sell bonds on the open market. As the attached schedule indicates, this method has been used for a number of building expansion projects. Because the County retains the highest municipal bond ratings (please see transmittal letter), all issues enjoy an excellent rate. Even when the County sells bonds on the open market, Administration monitors the market for opportunities for either re-financing or defeasing the issue. The County has saved tens of millions of dollars over the last six years both through defeasance and re-financing. VIII-6

10 OAKLAND COUNTY BIENNIAL BUDGET COUNTY SHARE OF CURRENT INDEBTEDNESS PAYMENTS PERIOD ENDING: September 30, 2007 YEAR 2008 YEAR 2009 DEBT TYPE Principal INTEREST TOTAL PRINCIPAL INTEREST TOTAL LAKE LEVEL BONDS-LIMITED TAX Watkins Lake Level, Series 2004, , ,740.00, , ,282.0 Total, , ,740.00, , , DRAINS BONDS - LIMITED TAX Acacia Park CSO-Series 1998 C 1, , , , Jacobs, Series , ,0.2 36, , , , Korzon 3, ,493.8, , ,279.8,73.8 George Kuhn Series 2000B 3, ,121. 4, , George Kuhn Series 2002A, , ,98.7, ,701.1 McIntyre , , , Franklin Subwatershed, Series , , , , ,163.26, Franklin Subwatershed, Series , ,94. 18,78.0 8, , , Robert Reid Wolf 31, , , , , ,338.2 Total 103, , , , , , REFUNDING DRAIN BONDS - LIMITED TAX Acacia Park CSO D.D. Ref., Series , , , , , , B'ham CSO D. D., Ser Ref , ,042.2 B'ham CSO D.D. Ref., Ser , , , , Blfd. Twp. CSO D.D. Ref., Ser , , , ,412.00, , Blfd. Vill. CSO D.D. Ref., Ser E 31, , , , , ,08.4 Blfd. Vill. CSO D.D. Ref., Ser F 97, , , , , , Caddell Drain. Dist. Ref., Ser ,37.8 2, , ,37.8 2, , Crake Drain. Dist. Ref., Ser ,31.0 1, , , , George Kuhn Series , , , , , , Ireland Drain. Dist., Ser Ref. 3, , , , Lueders D. D., Ser Ref. 9,26.0 1, , ,26.0 1, ,3.76 Minnow Pond D.D. Ref., Ser , , , , , , Pebble Creek D.D. Ref., Ser ,0.00 1, , , , ,69.69 Robert A. Reid D.D. Ref., Ser , , , , , , Total 368, , , , , , DELINQUENT TAX NOTES - LIMITED TAXABLE Delinquent Tax Notes, Series ,000, , ,66, Total 2,000, , ,66, MICHIGAN BOND AUTHORITY DRAIN BONDS Birmingham CSO D.D., Series 1994P Bfld. Vill. CSO D.D., Series 1994Q 27,473.7, , , , , George Kuhn, Series 2000C 12,329.79, , ,641.94, , George Kuhn, Series 2001H 4, , ,613.69, , ,71.74 George Kuhn, Series 2006E 2, , , , Total 96, , , , , , BUILDING AUTHORITY BONDS - LIMITED TAX CMH Project, Series , , , , , , Lyon Oaks, Series ,000.00, , , , ,687.0 Oakland Int'l Airport T-Hangar, Series , , , , , ,12.0 Oakland Schools Renovation, Series , , , , , ,482.0 Office Building Renovation, Series , , ,21, , , ,23, Rochester District Court, Series , , ,390, , , ,414,27.00 Work Release Facility, Series , , ,871, , ,2.00 1,8,2.00 Total 3,700, ,141, ,841, ,8, ,988, ,843,172.2 REFUNDING BUILDING AUTHORITY BONDS - LIMITED TAX Computer Center Ref., Series ,030, ,87.0 1,041, West Wing Ref., Series ,270, , ,449, ,3, , ,478, Total 2,300, , ,491, ,3, , ,478, Drain Notes Franklin Subwatershed, Series , , , Total 68, , , Grand Total 32,307, ,302, ,610,278.16,830, ,348, ,179,24.28 Statutory Limit - 10% of Current State Equalized Value $ 7,733,108, Less: Outstanding Debt Credit ( ) 889,48, Available Balance $ 6,843,622,79.60 VIII-7