1988-04-13 Minutes - Laserfiche WebLink

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~, South Bend Redevelopment Authority pecial Meeting - May 13, 1988 3. Continued... allows the Board of Public Works to make technical changes without coming back to the Authority. It limits them to total construction cost for the garage as established by the receipt and award of construction contracts. Under the agreement, the Board of Public Works is responsible to obtain all necessary licenses, to purchase items related to the garage, to inspect the construction, and process all contractor claims for payment. The Authority has the responsibility to carry or cause others to carry builders risk insurance and bodily injury and property damage insurance. When the garage is completed, the Board of Works will accept the garage on behalf of the Authority. Mr. Nussbaum explained that it is customary procedure to assign these kinds of responsibilities to qualified agencies. Mrs. Kolata noted that she has prepared a draft letter to the Board of Public Works asking them to bid the garage construction on the following schedule: Board of Works authorizing the advertising for bids on May 16; publishing of the Notice to Bidders on May 20 and May 27; and receit of bids on June 13. It is important that we receive bids on June 13 in order to have the final numbers prior to the June 16 State Tax Board meeting. Mr. Davey asked who is making sure the insurance is taken care of. Mrs. Kolata responded that the staff will check into that. Upon a motion by Mr. Wroblewski, seconded by Mr. Davey and unanimously carried, the Authority adopted Resolution No. 4. 4. Authorization requested to send out related to the St. Joseph/Wayne Par for Pro spo als for Bond Trustee itv. Mr. Nussbaum explained items 4 and 5 together. In some instances the issuance of bonds requires that a Trustee be set up to oversee the collection of and the disbursement of the proceeds of bonds. These bonds require a Trustee who will also serve as Registrar and Paying Agent. We will be sending the Request for Proposals to all local banks as well as some out of town ones. Mrs. Kolata noted that a draft copy of the Trustee Agreement will be sent with the letter. Mrs. Kolata suggested that the receipt of bids be set for 4:00 p.m. May 25th to allow a day to review them before the suggested next meeting of the Authority on May 27th. Upon a motion by Mr. Davey, seconded by Mr. Wroblewski and unanimously carried, the Authority authorized the Request for Proposals for Bond Trustee related to the St. Joseph/Wayne Parking Facility with the insertion that we intend to select the Bond Trustee at a May 27th meeting of the Authority and, therefore, request the proposals be submitted no later than 4:00 p.m. on May 25. -2-