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5. NEW BUSINESS (Cont'd Interest Bidder Rate St. Jo eph Bank and 5.95% Tru t Company,. - South Bend, Ind. Principal Premium Amount $27.00 $270,000 with d nominations to be numbered 1 through 54 C $5,.000 each, the Bond Counsel being: Ice, Miller, Donadi and Ryan, Indianapolis, Indiana. Resolu City C for th zation On mot Resolu Unanim Lion No. 274 is to authorize the Mayor and Lerk to sign the Project Loan Notes, and Commission President to sign the authori- to submit these to the successful bidder. ion by Mr. Chenney, seconded by-Mr. Wilhelm, Lion No. 274 was adopted. Approval was pus by'all Commissioners. Mr. Bellinger expressed concern over the interest rate. The maximum rate is 69/8 and normally three or four bids are received and this is the first time we have been presented with the situation of only receiving one. Mrs. borro inves not n veste the a the m used ment contr R -57, Contr (42) amend excee servic seconc author net Allen inquired as to why we have to money, when interest is earned on the money d. Mr. Bellinger apprised that the money ded for a period of 60 to 90 days is in- and the interest received is credited to ropriate project accounts, which reduces ey to be borrowed. This $270,000 will be pay off old loan notes. . Change Order No. 1: This is an amend - D Contract dated April 5, 1967, for rodent 1, in the LaSalle Park Urban Renewal Project, Faith the South Bend Exterminating Company. et time is amended to "within Forty -Two onsecutive months ", and the compensation.: d that "the compensation paid shall not the maximum sum of One Thousand Two d and Sixty ($1,260.00) Dollars for all es required." On motion by Mr. Chenney, ed by Mr. Wilhelm, Change Order No. 1 was ized and approval was unanimous. M CHANGE ORDER NO.1, RODENT CONTROL, LASALLE PARK URBAN RENEWAL PROJECT, R-57