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200 <br />REGULAR MEETING <br />APRIL 18, 1994 <br />APPROVE LETTER OF INTENT _ MIDWEST BANKERS GROUP, INC. <br />Mr. Leszczynski advised that Mr. Jeffrey Rinard, Finance Director, <br />has submitted a letter from Midwest Bankers Group, Inc., 9000 <br />Keystone Crossing, Suite 630, Indianapolis, Indiana, advising that <br />they quote to the City the following interest rate: <br />Cost: $1,146,895.00 $591,650.00 <br />Term: Five (5) years Three (3) years <br />Payments: $131,376.51 $107,177.61 <br />Factor: .114550 .181150 <br />APR: 5.0985% 4.8683% <br />It was noted that the City is currently seeking bids for various <br />equipment that will be lease purchased. Quotations were sought from <br />financial institutions for this lease purchase. Therefore, Mr. <br />Leszczynski made a motion that the Board accept and approve this <br />Letter of Intent from Midwest Bankers Group, Inc. with the <br />appropriate documentation to be submitted in the near future for <br />Board execution. <br />APPROVE AGENCY AGREEMENT - SEDA DEMOLITIONS <br />Board Member Jenny Pitts Manier informed members of the Board that <br />an Agency Agreement - Sample -Ewing Development Area Redevelopment <br />Project, has been submitted to the Board. Through this Agreement, <br />the South Bend Redevelopment Commission designates the Board of <br />Pubic Works to act as its agent for purposes of designing and <br />undertaking certain public improvements consisting of demolition of <br />structures on Commission -owned land within the Sample -Ewing <br />Development Area. Mrs. Manier made a motion that this Agreement be <br />approved. Mr. Leszczynski seconded the motion which carried. <br />APPROVE LETTER AGREEMENT - MAINTENANCE MANAGEMENT <br />(WASTEWATER TREATMENT PLANT) <br />Mr. Jack Dillon, Director, Division of Environmental Services, <br />submitted to the Board a Letter Agreement with Triad Engineering <br />Incorporated, 325 East Chicago Street, Milwaukee, Wisconsin, to <br />expand the "MP-2" computerized maintenance system to the equipment <br />external to the Wastewater Treatment Plant. This would bring the <br />City's lift stations into the system of preventive and planned <br />maintenance. This Agreement is in an amount not to exceed <br />$25,600.00. Mr. Leszczynski noted that this is a continuation of an <br />Agreement with Triad. Therefore, Mr. Leszczynski made a motion that <br />the Agreement be approved. Mrs. Manier seconded the motion which <br />carried. <br />APPROVE PURCHASE AGREEMENT - SALE OF CITY -OWNED PROPERTY AT 1614 S. <br />SCOTT STREET <br />In accordance with the bid awarded on November 1, 1993, for the <br />purchase of the City -owned lot at 1614 South Scott Street in the <br />amount of $150.00 to Mrs. Mary Smith, 1618 South Scott Street, South <br />Bend, Indiana, a Purchase Agreement was being submitted at this time <br />for Board approval. Upon a motion made by Mrs. Manier, seconded by <br />Mr. Leszczynski and carried, the Purchase Agreement was approved and <br />the matter referred to the City Attorney's office for drafting of <br />the appropriate Quit -Claim Deed. <br />APPROVE CONSTRUCTION CONTRACT - MICHIGAN LIFT STATION VALVES <br />REPLACEMENT PROJECT <br />Mr. Leszczynski advised that in accordance with the Quotation <br />awarded on April 4, 1994, to Dye Plumbing & Heating, Inc., P.O. Box <br />1728, LaPorte, Indiana, in the amount of $14,000.00 for the above <br />referred to project, a Contract in said amount was being submitted <br />for Board approval. Upon a motion made by Mr. <br />1 <br />I <br />1 <br />