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REGULAR MEETING <br />MAY 31, 1988 <br />The regular meeting of the Board of Public Works was convened at <br />9:36 a.m. on Tuesday, May 31, 1988, by President John E. <br />Leszczynski, with Mr. Leszczynski, Mrs. Patricia E. DeClercq <br />and Ms. Katherine Humphreys present. Also present was Board <br />Attorney Marva J. Leonard -Dent. <br />APPROVE MINUTES OF PREVIOUS MEETING <br />Upon a motion made by Mrs. DeClercq, seconded by Ms. Humphreys <br />and carried, the minutes of the May 23, 1988, regular meeting of <br />the Board were approved. <br />OPENING AND REFERRAL OF PROPOSALS FOR LEASE I <br />RESCUE UNIT <br />.CHASE FINANCING - <br />Mr. Leszczynski advised that this was the date set for receiving <br />and opening of sealed Proposals for the lease purchase financing <br />of a Fire Department Rescue Unit. It was noted that this is the <br />second request for Proposals as Proposals received on May 2, 1988 <br />were rejected by the Board on May 9, 1988. The following <br />Proposals were received and read: <br />GOVERNMENT LEASING COMPANY <br />P.O. Box 38447 <br />Colorado Springs, CO <br />Proposal was submitted by Thomas Wittwer, President, <br />and indicated an interest rate of 9.19% A.P.R. <br />SECURITY PACIFIC LEASING CORPORATION <br />2340 Des Plaines Avenue, Suite 106 <br />Des Plaines, IL <br />Proposal was submitted by Robert T. Krause and indicated an <br />interest rate of 7.73%. <br />TRANSAMERICA COMMERCIAL FINANCE CORPORATION <br />Commercial Leasing Division <br />P.O. Box 95224 <br />Schaumburg, Illinois <br />Proposal was submitted by Liz Swanson and indicated an <br />interest rate of 8.2% compounded monthly. <br />SECURITY PACIFIC MERCHANTS BANK <br />410 17th Street, Suite 1150 <br />Denver, CO <br />Proposal was submitted by Chris P. Youngs, Associate, and <br />indicated an interest rate of 7.48%. <br />NATIONAL COMPUTER EQUIPMENT CORPORATION <br />200 Maple Park Boulevard <br />Maple Park Office Plaza <br />St. Clair Shores, Michigan <br />Proposal was submitted by Mary Rewalt, Regional Sales <br />Manager, and indicated an interest rate of 9.31%. <br />DOUGHERTY DAWKINS LEASE GROUPS, INC. <br />100 South Fifth Street, Suite 2300 <br />Minneapolis, MN <br />Proposal was submitted by Daniel Hedberg, Lease Operations <br />Administrator. The Proposal indicated that the interest <br />rate represented by the lease terms and conditions stated in <br />the Proposal are 8.10% for Option A and 8.61% for Option B, <br />inclusive by all transaction related fees and expenses. The <br />Proposal indicated that Option A is six (6) equal semi- <br />annual payments of $18,716.86 and Option B is six (6) equal <br />semi-annual payments of $18,879.73. <br />1 <br />1 <br />1 <br />