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AGENDA REVIEW SESSION NOVEMBER5.2015 380 BEND, INDIANA APPROVING THE MASTER EQUIPMENT LEASE -PURCHASE AGREEMENT AND RELATED SCHEDULES INCLUDING THE ESCROW AGREEMENT WITH PNC EQUIPMENT FINANCE, LLC WHEREAS, the City of South Bend Board of Public Works (`Board") is the contracting body for the City of South Bend, Indiana ("City") and the Board has the authority under the laws of Indiana to purchase, acquire and lease property; and WHEREAS, the Board have determined that a need exists for the purchase and subsequent financing of certain property for the benefit of the City's operation; and — WHEREAS, in order to acquire such property, the Board has entered into a certain Master Equipment Lease -Purchase Agreement and Related Schedules including the Escrow Agreement with PNC Equipment Finance, LLC in the form attached and incorporated hereto at Exhibit A; and WHEREAS, time is of the essence in this matter. NOW, THEREFORE, BE IT RESOLVED by the City of South Bend Board of Public Works as follows: 1. The Master Equipment Lease -Purchase Agreement and Related Schedules including the Escrow Agreement substantially in the form and substance submitted as of this meeting with PNC Equipment Finance, LLC is hereby approved. 2. The Board hereby authorizes John Murphy, in his capacity as Controller of the City of South Bend, Indiana to act on behalf of the Board in executing any documents to effect the intent of the Board in connection with the Master Equipment Lease -Purchase Agreement with PNC Equipment Finance, LLC. 3. This Resolution shall be in full force and effect after its adoption by the City of South Bend Board of Public Works. ADOPTED at a meeting of the Board of Public Works of the City of South Bend, Indiana held on November 5, 2015, at 1308 County -City Building, 227 West Jefferson Boulevard, South Bend, Indiana 46601. Adopted this 5th day of November, 2015. CITY OF SOUTH BEND BOARD OF PUBLIC WORKS s/ Gary A. Gilot s/ David P. Relos s/ Elizabeth A. Maradik s/ Therese J. Dorau ATTEST: s/Linda M. Martin, Clerk Board members discussed the following item(s) from the agenda. - Change Orders c Western Ave. Corridor Improvements -- Mr. Toy Villa, Engineering, stated this small increase was to repair existing traffic loops. It was determined that while the City was completing the two way conversion, it would be a good time to fix these. c Chase Plastics Fencing Improvements Mr. Villa stated Chase Plastics requested electric padlocks, He noted the City is just supplying the locks, Chase will cover the cost of installation. o Memorial North Parking Lot Mr. Villa stated Memorial Hospital requested irrigation be installed on the north side of the parking lot where none has existed previously. Mr. Gilot asked if this is a good price. Mr. Villa stated it is for all the work they are doing in such a large area.