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CVU <br />REGULAR MEETING <br />JUNE 1, 1993 <br />The regular meeting of the Board of Public Works was convened at <br />9:32 a.m. on Tuesday, June 1, 1993, by Board Member James R. <br />Caldwell, with Mr. Caldwell and Mrs. Mary H. Mueller present. <br />Board President John E. Leszczynski was not in attendance. <br />APPROVE MINUTES OF PREVIOUS MEETING <br />Upon a motion made by Mrs. Mueller, seconded by Mr. Caldwell and <br />carried, the minutes of the regular meeting of the Board held on <br />May 24, 1993, were approved. <br />MUNI <br />T_RESOLUTION NO. 22-1993 - APPROVING THE EXECUTION OF A <br />Board Attorney and Member Mary H. Mueller advised that Resolution <br />No. 22-1993 approves the execution of a Lease with Midwest Bankers <br />Group, Inc., 9000 Keystone Crossing, Suite 630, Indianapolis, <br />Indiana and designates Jeffrey A. Rinard, the City's Finance <br />Director, to execute those documents other than the Lease required <br />as part of the financing. The Lease Purchase Agreement is for <br />slightly over two million dollars ($2,000,000.00) at a rate of <br />5.16% and is for the purchase of various equipment. This Lease is <br />for a period of five (5) years with semi-annual payments of <br />$232,007.20. <br />Therefore, Mrs. Mueller made a motion that Resolution No. 22-1993 <br />be adopted and the Municipal Lease and Option Agreement be <br />approved. Mr. Caldwell seconded the motion which carried. <br />Following is Resolution No. 22-1993: <br />RESOLUTION NO. 22-1993 <br />A RESOLUTION OF THE BOARD OF PUBLIC WORKS <br />OF THE CITY OF SOUTH BEND INDIANA APPROVING <br />THE EXECUTION OF A MUNICIPAL LEASE AND OPTION <br />AGREEMENT WITH MIDWEST BANKERS GROUPS INC. <br />WHEREAS, the Board of Public Works of the City of South Bend, <br />Indiana (hereinafter, "Board") has determined that a true and very <br />real need exists for the acquisition of the equipment described in <br />the Municipal Lease and Option Agreement presented to this <br />meeting; and <br />WHEREAS, the Board of Public Works has taken the necessary <br />steps, including any legal bidding requirements under applicable <br />law, to arrange for the acquisition of such equipment. <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Public Works <br />of the City of South Bend, Indiana, as follows: <br />1) That the terms of said Municipal Lease and Option <br />Agreement are in the best interest of the City from the <br />acquisition of such equipment. <br />2) That the Board, itself, will execute the Agreement at <br />today's meeting and will execute all future supplements to the <br />Agreement at future meetings of the Board of Public Works. <br />3) The Board hereby designates Jeffrey A. Rinard, Finance <br />Director for the City of South Bend, to execute and deliver any <br />related documents necessary to the consummation of the <br />1 <br />