04/21/94 Board of Public Works Special Meetiing Minutes

Home Browse Search

211 1 SPECIAL MEETING APRIL 21, 1994 A Special Meeting of the Board of Public Works was convened at 1:03 p.m. on Thursday, April 21, 1994, by Board President John E. Leszczynski, with Mr. Leszczynski, Mr. James R. Caldwell and Mrs. Jenny Pitts Manier present. Also present was Board Attorney Anne Bruneel. ADOPT RESOLUTION NO. 13-1994 - APPROVING THE EXECUTION OF A MUNICIPAL LEASE AND OPTION AGREEMENT WITH MIDWEST BANKERS GROUP, INC. Mr. Leszczynski advised that the purpose of this meeting was to adopt the above referred to Resolution and execute a Municipal Lease and Option Agreement with Midwest Bankers Group, Inc., 9000 Keystone Crossing, Suite 630, Indianapolis, Indiana. Mr. Leszczynski reminded members of the Board that on Monday, April 18, 1994, the Board approved a Letter of Intent with Midwest Bankers Group, Inc., concerning this matter. It was noted that the Municipal Lease and Option Agreement must be executed today in order to lock into the rate which Midwest quoted to the Board in their letter of April 15, 1994, which the Board approved this week. Mr. Leszczynski further noted that the City is in the process of purchasing miscellaneous equipment which will be lease purchased. There being no further questions regarding this matter, Mr. Caldwell made a motion that the appropriate Resolution be adopted. Mrs. Manier seconded the motion which carried and Resolution No. 13-1994 was adopted and the Municipal Lease and Option Agreement was executed: RESOLUTION NO. 13-1994 A RESOLUTION OF THE BOARD OF PUBLIC WORKS OF THE CITY OF SOUTH BEND, INDIANA, APPROVING THE EXECUTION OF A MUNICIPAL LEASE AND OPTION AGREEMENT WITH MIDWEST BANKERS GROUP, INC. WHEREAS, the Board of Public Works of the City of South Bend, Indiana (hereinafter, "Board") has determined that a true and very real need exists for the acquisition of the equipment described in the Municipal Lease and Option Agreement presented to this meeting; and WHEREAS, the Board of Public Works has taken the necessary steps, including any legal bidding requirements under applicable law, to arrange for the acquisition of such equipment. NOW, THEREFORE, BE IT RESOLVED by the Board of Public Works of the City of South Bend, Indiana, as follows: 1) That the terms of said Municipal Lease and Option Agreement are in the best interest of the City for the acquisition of such equipment. 2) That the Board, itself, will execute the Agreement at today's meeting and will execute all future supplements to the Agreement at future meetings of the Board of Public Works. 3) The Board hereby designates Jeffrey A. Rinard, Finance Director for the City of South Bend, to execute and deliver any related documents necessary to the consummation of the transactions contemplated by the Municipal Lease and Option Agreement.