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3110 <br />REGULAR MEETING APRIL 14, 2003 <br />carried, the recommendation was approved, provided the event is monitored by police officers. The <br />Clerk spoke with Sergeant Kendall, South Bend Police, and he confirmed that three (3) police <br />officers will be monitoring the event. <br />APPROVE IRREVOCABLE STANDBY LETTER OF CREDIT <br />Mr. Tony Molnar, Division of Engineering, submitted the following Irrevocable Standby Letter of <br />Credit to the Board and recommended approval: <br />IRREVOCABLE STANDBY LETTER OF CREDIT NO. 0403091 <br />ISSUED BY: St, Joseph Capital Bank <br />FOR: Villas at Blackthorn <br />AMOUNT: $668,524.20 <br />EXPIRES: May 12, 2003 <br />Upon a motion made by Mr. Gilot, seconded by Mr. Littrell and carried, the Letter of Credit was <br />approved, contingent upon extending the expiration date for one year. <br />APPROVE IRREVOCABLE STANDBY LETTER OF CREDIT <br />Mr. Tony Molnar, Division of Engineering, submitted the following Irrevocable Standby Letter of <br />Credit to the Board and recommended approval: <br />IRREVOCABLE STANDBY LETTER OF CREDIT NO. 403105 <br />ISSUED BY: St. Joseph Capital Bank <br />FOR: Westwood Knolls at Blackthorn, Section I <br />AMOUNT: $13,840.00 <br />EXPIRES: June 6, 2003 <br />Upon a motion made by Mr. Gilot, seconded by Mr. Littrell and carried, the Letter of Credit was <br />approved, contingent upon extending the expiration date for one year. <br />APPROVE IRREVOCABLE STANDBY LETTER OF CREDIT <br />Mr. Tony Molnar, Division of Engineering, submitted the following Irrevocable Standby Letter of <br />Credit to the Board and recommended approval: <br />IRREVOCABLE STANDBY LETTER OF CREDIT NO. 70-001600-6 <br />ISSUED BY: <br />MFB Bank <br />FOR: <br />Summer Hill, Phase II <br />AMOUNT: <br />$121,650.00 <br />EXPIRES: <br />April 7, 2004 <br />Upon a motion made by Mr. Gilot, seconded by Mr. Littrell and carried, the Letter of Credit was <br />approved. <br />APPROVE CONSENT TO ANNEXATION AND WAIVER OF RIGHTS TO REMONSTRATE <br />Mr. Gilot stated that the Board is in receipt of a Consent to Annexation and Waiver of Right to <br />Remonstrate as submitted by Craig and Sandi Heaney, 60103 Locust Road, South Bend, Indiana. <br />The Consent indicates that in consideration for permission to tap into the public sanitary water <br />system of the City, to provide sanitary water service to the west side of Locust Road, south of <br />Jackson Road, South Bend, Indiana, (Key # 01-1016-032807), the Heaney's waive and release any <br />and all right to remonstrate against or oppose any pending or future annexation of the property by <br />the City of South Bend. Therefore, Mr. Gilot made a motion that the Consent be approved. Mr. Inks <br />seconded the motion which carried. <br />ADOPT RESOLUTION NO.23-2003 - DISPOSAL OF CITY -OWNED PROPERTY <br />Upon a motion made by Mr. Inks, seconded by Mr. Littrell and carried, the following Resolution was <br />adopted by the Board of Public Works: <br />