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M <br />REGULAR MEETING <br />MR. JESSIE F. STAMBAUGH <br />54660 North Oak Road <br />South Bend, Indiana <br />FEBRUARY 19, 1990 <br />VEHICLE NO. <br />TAG NO. <br />AMOUNT BID <br />5. <br />11712 <br />$100.00 <br />MR. GENE HANCZ <br />STEVE & GENE'S AUTO <br />TRUCK SALVAGE <br />3109 Gertrude <br />P.O. Box 2883 <br />South Bend, Indiana <br />VEHICLE NO. <br />TAG NO. <br />AMOUNT BID <br />1. <br />10576 <br />$ 42.25 <br />12. <br />12403 <br />$ 42.25 <br />22. <br />12839 <br />$ 42.25 <br />TOTAL: <br />$126.75 <br />GRAND TOTAL: <br />$1,407.69 <br />Therefore, Mr. Leszczynski made a motion that the recommendation <br />be accepted and the above bids be awarded. Ms. Humphreys <br />seconded the motion which carried. <br />APPROVE TRAFFIC SIGNAL MAINTENANCE AGREEMENT <br />Mr. Leszczynski advised that submitted to the Board was a renewal <br />Traffic Signal Maintenance Agreement between the State of Indiana <br />through the Indiana Department of Highways and the City of South <br />Bend for the inspection, routine and non -routine maintenance of <br />traffic signals on all state maintained highways in the City of <br />South Bend and surrounding envisions. The term of the Agreement <br />is one (1) year. In response to questions from the news media, <br />Mr. Leszczynski advised that this work is not subcontracted but <br />is performed by City employees. Upon a motion made by Mr. <br />Leszczynski, seconded by Mrs. DeClercq and carried, the Agreement <br />as submitted was approved and executed. <br />APPROVE AGREEMENT FOR FINANCIAL ADVISOR SERVICES - SPRINGSTED. <br />INC. <br />Ms. Katherine Humphreys, Director of Administration and Finance, <br />submitted to the Board an Agreement for Financial Advisor <br />Services with Springsted, Inc., 135 North Pennsylvania Street, <br />Suite 2015, Indianapolis, Indiana. She noted that this Agreement <br />covers services provided for the City's 1990 Tax Anticipation <br />Time Warrant Series. <br />Upon a motion made by Mrs. DeClercq, seconded by Ms. Humphreys <br />and carried, the Agreement as submitted was approved and <br />executed. <br />Ms. Humphreys noted that $5.9 million dollars will be borrowed to <br />assist with cash flow. She further noted that this is the third <br />year that money will be borrowed. Ms. Humphreys informed the <br />Board and media that bids will be opened in early March with <br />closing shortly thereafter. In response to a question from the <br />news media, Ms. Humphreys noted that the City does invest the <br />money until it is needed and this procedure allows the money to <br />pay for itself. <br />1 <br />1 <br />