Laserfiche WebLink
REGULAR MEETING DECEMBER 8, 2020 227 <br />RESOLUTION NO.31-2020 <br />A RESOLUTION OF THE CITY OF SOUTH BEND, INDIANA <br />BOARD OF PUBLIC WORKS ESTABLISHING THE 2021 PRIME BORROWING <br />RATE FOR CALCULATING INSTALLMENT PAYMENT AMOUNT FOR <br />WATER/SEWER INSTALLATION CHARGE <br />WHEREAS, Section 17-85 of the City of South Bend Municipal Code (the "Municipal <br />Code") authorizes the Board of Public Works to establish the City's prime borrowing rate <br />("Prime Borrowing Rate") for purposes of determining the interest rate of installment payments <br />of water/sewer installation charges; and <br />WHEREAS, pursuant to Section 17-85 of the Municipal Code, the Board of Public <br />Works is to establish the Prime Borrowing Rate each year for the following calendar year; and <br />WHEREAS, Section 17-85 of the Municipal Code permits a single family residential real <br />property owner to pay water/sewer installation charges by making sixty (60) monthly installment <br />payments with an interest rate two (2) percent below the City's prime borrowing rate; and <br />WHEREAS, the interest rate at the commencement of a residential owner's sixty -month <br />payment plan shall remain constant throughout the sixty -month term. <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF PUBLIC WORKS OF <br />THE CITY OF SOUTH BEND AS FOLLOWS: <br />1. The Board establishes the Prime Borrowing Rate for calendar year 2021 at a two (2) <br />percent interest rate. <br />2. The effective date of this Resolution is December 1, 2020. <br />ADOPTED at a meeting of the Board of Public Works of the City of South Bend, Indiana <br />held on December 8, 2020. <br />CITY OF SOUTH BEND <br />BOARD OF PUBLIC WORKS <br />s/ Gary A. Gilot <br />s/ Elizabeth A. Maradik <br />s/ Jordan V. Gathers <br />s/ Joseph R. Molnar <br />ATTEST: <br />s/Linda M. Martin, Clerk <br />APPROVAL OF AGREEMENTS/CONTRACTS/PROPOSALS/ADDENDA <br />The following Agreements/Contracts/Proposals/Addenda were submitted to the Board for <br />approval: <br />Type <br />Business <br />Description <br />Amount/ <br />Motion/ <br />Funding <br />Second <br />Services <br />Elkhart <br />Three (3) Year Fish <br />N/A <br />Maradik/Molnar <br />Agreement <br />Department of <br />Study Supporting <br />Public Works <br />Biological Monitoring of <br />St. Joseph River <br />Natural Gas <br />Interstate Gas <br />One (1) Year Extension <br />$0.88/dekatherm <br />Maradik/Molnar <br />Purchase <br />Supply, Inc. <br />of Current Contract, <br />(Fees paid <br />Contract <br />March 2023 through <br />through Natural <br />April 2024 <br />Gas Invoices <br />Professional <br />Black & Veatch <br />Lead and Copper Rule <br />NTE $46,065 <br />Maradik/Molnar <br />Services <br />Corporation <br />Risk Management <br />(PR-00005686) <br />Agreement <br />Analysis <br />Amendment <br />Cardno, Inc. <br />Construction <br />NTE $6,500; <br />Maradik/Molnar <br />No. 4 to <br />Administration Support <br />New Total <br />Owner- <br />for North Shore Bank <br />$113,100 <br />