04/24/12 Board of Public Works Minutes

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REGULAR MEETING APRIL 24, 2012 149 City Attorney's designee) to commence condemnation proceedings on behalf of the Board as authorized by I.C. § 32 -24 -1 in order to acquire the property interests identified in Exhibit "A" (Parcel 30) and Exhibit "B" (Parcel 47). 3. The City Engineer is authorized to sign such documents and legal pleadings on behalf of the Board as may be necessary and appropriate upon advice of counsel, in order to effect the terms of this Resolution. ADOPTED at the meeting of the City of South Bend, Indiana, Board of Public Works held on April 24, 2012, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. CITY OF SOUTH BEND BOARD OF PUBLIC WORKS s/ Gary A. Gilot s/ Donald E. Inks ATTEST: s /Linda M. Martin, Clerk ADOPT RESOLUTION NO. 24 -2012 — A RESOLUTION OF THE BOARD OF WORKS OF THE CITY OF SOUTH BEND AUTHORIZING THE EXECUTION AND DELIVERY OF A MASTER LEASE AGREEMENT AND OTHER DOCUMENTS RELATED TO POLICE CARS AND ACCESSORIES Upon a motion made by Mr. Gilot, seconded by Mr. Inks and carried, the following Resolution was adopted by the Board of Public Works subject to Legal and Financial review: RESOLUTION 24 -2012 A RESOLUTION OF THE BOARD OF WORKS OF THE CITY OF SOUTH BEND AUTHORIZING THE EXECUTION AND DELIVERY OF A MASTER LEASE AGREEMENT AND OTHER DOCUMENTS RELATED TO POLICE CARS AND ACCESSORIES WHEREAS, the City of South Bend, Indiana, Board of Public Works (the "Board ") is the contracting body for the City of South Bend, Indiana (the "City ") pursuant to Indiana Code § 36- 9-6; and WHEREAS, the CITY OF SOUTH BEND ( "Lessee ") desires to obtain certain equipment (the "Equipment ") described in Equipment Schedule No. 05 to the Master Lease Agreement (collectively, the "Lease ") with SUNTRUST EQUIPMENT FINANCE & LEASING CORP., the form of which is attached hereto and incorporated herein as Exhibit "A" has been available for review by the governing body of Lessee prior to this meeting; and WHEREAS, the Equipment is essential for the Lessee to perform its governmental functions; and WHEREAS, the funds made available under the Lease will be deposited with SUNTRUST BANK (the "Escrow Agent") pursuant to an Escrow Agreement between Lessee and the Escrow Agent (the "Escrow Agreement ") and will be applied to the acquisition of the Equipment in accordance with said Escrow Agreement; and WHEREAS, Lessee has taken the necessary steps, including those relating to any applicable legal bidding requirements, to arrange for the acquisition of the Equipment; and WHEREAS, Lessee proposes to enter into the Lease with SUNTRUST EQUIPMENT FINANCE & LEASING CORP. and the Escrow Agreement with the Escrow Agent substantially in the forms presented to this meeting. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF PUBLIC WORKS FOR THE CITY OF SOUTH BEND, INDIANA AS FOLLOWS: Section 1. It is hereby found and determined that the terms of the Lease and the Escrow Agreement (collectively, the "Financing Documents ") in the forms presented to this meeting