06/30/94 Board of Public Works Specail Meeting Minutes

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SPECIAL MEETING JUNE 30, 1994 event that such an Addendum is executed, the Contractor agrees to perform the remainder of the work for six hundred and fifty-five thousand dollars ($655,000.00). Mr. Leszczynski also noted that Escrow Agreements with Dye Plumbing & Heating, Colip Electric Corporation, O.J. Shoemaker, Inc., and Ritschard Brothers,,were presented for approval. Therefore, Mrs. Manier made a motion that the Construction Contracts be approved subject to the receipt of additional supporting documentation, that the Escrow Agreements be approved and that Addendum I to the Mechanical Systems Agreement with Dye Plumbing & Heating be approved. Mr. Caldwell seconded the motion which carried. APPROVE ASSIGNMENT AND SECURITY AGREEMENT Mr. Leszczynski noted that the Board is in receipt of an Assignment and Security Agreement made by the South Bend Redevelopment Authority, the South Bend Redevelopment Commission and the City of South Bend Board of Public Works in favor of The Fuji Bank, Limited, New York Branch. It was further noted that this Agreement is part of the bond financing and secures the Fuji Bank Letter of Credit. Mrs. Manier made a motion that this Agreement be approved and executed. Mr. Caldwell seconded the motion which carried. PRIVILEGE OF THE FLOOR: COMMENTS FROM CITY CONTROLLER KEVIN HORTON CONCERNING THE SALE OF BONDS Mr. Kevin Horton, City Controller, informed members of the Board that bonds were sold today with an interest rate of 2.8%. ADJOURNMENT There being no further business to come before the Board, upon a motion made by Mrs. Manier, seconded by Mr. Caldwell and carried, the meeting was adjourned at 4:08 p.m. BOARD OF PUBLIC WORKS John E. Leszczynski, President James R. Caldwell, Member Jenny Pitts Manier, Member ATTEST: Sandra M. Parmerlee, Clerk