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REGULAR MEETING OCTOBER 21, 1991
<br />operating in connection with the City's publicly operated sewage
<br />treatment works and is not exercising any easement or other
<br />rights it may have in regards to the described right-of-way
<br />contained in the disclaimer which was vacated by the South Bend
<br />Common Council on October 23, 1989. Mrs. DeClercq made a motion
<br />that the Disclaimer and Release of Utility Easement be approved
<br />and executed. Ms. Humphreys seconded the motion which carried.
<br />APPROVE PROPOSAL FOR LEASE PURCHASE FINANCING - SECURITY PACIFIC
<br />LEASING CORPORATION
<br />Mr. Leszczynski advised that the Board is in receipt of a
<br />Memorandum from Mr. Jeff Rinard, City Auditor, recommending the
<br />financing of two (2) Pierce Arrow Pumpers, six (6) street
<br />sweepers and four (4) tandem axle dump trucks, to be delivered
<br />late this year and early next year for a total amount of
<br />$1,036,934.00.
<br />Mr. Rinard further advised that he has received information from
<br />four (4) financing companies and Security Pacific Leasing
<br />Corporation, 1400 Opus Place, Suite 240, Downers Grove, Illinois,
<br />has offered the most attractive terms with their quoted rate
<br />being 6.89% over seven (7) years. Therefore, Mr. Rinard
<br />submitted to the Board Security Pacific's formal Proposal for
<br />approval. \ Mr. Rinard further note that Security Pacific proposes
<br />setting up an escrow account with the City in which the total
<br />amount financed would be deposited. The City would be entitled
<br />to interest earnings on the account but would be responsible for
<br />any escrow agent fees charged.
<br />Therefore, Ms. Humphreys made a motion that the Proposal
<br />submitted by Security Pacific be accepted and executed subject to
<br />all other required documentation for lease purchasing being
<br />submitted. Mrs. DeClercq seconded the motion which carried.
<br />APPROVE CONSTRUCTION CONTRACT - STUDEBAKER CORRIDOR RESIDENTIAL
<br />DEMOLITION - PHASE II
<br />Mr.. Leszczynski advised that in accordance with the bid awarded
<br />on October 7, 1991, to Warner and Sons, Inc., P.O. Box 871
<br />Elkhart, Indiana, in the amount of $46,999.00 for the above
<br />referred to project, a Contract in said amount was being
<br />,submitted for Board approval. Upon a motion made by Mrs.
<br />DeClercq, seconded by Ms. Humphreys and carried, the Contract was
<br />approved and the appropriate Insurance, Performance Bond and
<br />Labor and Materials Payment Bond as submitted were filed.
<br />APPROVE CONSTRUCTION CONTRACT - STUDEBAKER CORRIDOR RESIDENTIAL
<br />ASBESTOS ABATEMENT - PHASE II
<br />Mr. Leszczynski stated that in accordance with the bid awarded on
<br />October 7, 1991, to Specialty Systems of Illinois, Inc., South
<br />Bend Division, 1408 Elwood Avenue, Suite 306, South Bend,
<br />Indiana, in the amount of $8,964.00 for the above referred to
<br />project, a Contract in said amount was being submitted for Board
<br />approval. Upon a motion made by Mrs. DeClercq, seconded by Ms.
<br />Humphreys and carried, the Contract was approved and the
<br />appropriate Insurance, Performance Bond and Labor and Materials
<br />Payment Bond as submitted were filed.
<br />APPROVE CONSTRUCTION CONTRACT - 1991 CONCRETE IMPROVEMENTS
<br />PROJECT
<br />Mr. Leszczynski indicated that in accordance with the bid awarded
<br />on October 7, 1991, to Murdock & Sons Construction, Inc., 131
<br />South Taylor Street, South Bend, Indiana, in the amount of
<br />$64,996.13 for the above referred to project, a Contract in said
<br />amount was being submitted for Board approval. Upon a motion
<br />made by Mrs. DeClercq, seconded by Ms. Humphreys and carried, the
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