08/07/89 Board of Public Works Minutes

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228 REGULAR MEETING AUGUST 7, 1989 NEW AVENUES 702 W. Colfax South Bend, Indiana 46601 Submitted by Dot Feldman, President PROPOSAL Basic Charge for Complete Program $2.72/Employee per month, on an annual contract, based upon actual employee numbers in any given month, and based upon a 4-6% utilitization rate by employees and their families. ALTERNATE *1 Basic Charge for Complete Program $1.21/Employee per month, on an annual contract, based upon actual employee numbers in any given month, and based upon a 4-6% utilization rate by employees and their families. Upon a motion made by Ms. Humphreys, seconded by Mrs. DeClercq and carried, the Proposal were referred to the City Controllers office for review and recommendation and the applications for bidder qualification as submitted with the Proposals were accepted for filing and referred to the Affirmative Action Review Committee for review and recommendation. APPROVE LETTERS OF CREDIT - SFI/LDI PARTNERSHIP Submitted to the Board were two (2) Letters of Credit for SFI/LDI Partnership as follows: 1. IRREVOCABLE STANDBY LETTER OF CREDIT NO. 603 Amount: $515,154.62 Expiration: November 22, 1989 Drawn Under: Valley American Bank For the Account of: SFI/LDI Partnership, 415 Lincolnway East, Mishawaka, Indiana Work to be completed: To complete the sanitary sewers, storm sewers, water distribution, excavation and paving in the Southfield Development, Phases I and III. 2. IRREVOCABLE STANDBY LETTER OF CREDIT NO. 604 Amount: $60,000.00 Expiration: July 25, 1990 Drawn Under: Valley American Bank For the Account of: SFI/LDI Partnership, 415 Lincolnway East, Mishawaka, Indiana. Work to be completed: Sidewalks in Southfield Development, Phases I and III Upon a motion made by Mr. Leszczynski, seconded by Mrs. DeClercq and carried, the Letters of Credit as submitted were accepted and approved.