11/10/2015 Board of Public Works Meeting

Home Browse Search

RF,GULAR MEETING NOVEMBER 10, 2015 395 finances of the Sewage Works will enable the City to meet the conditions for the issuance of additional parity bonds and that, accordingly, the 2015 Bonds shall rank on a parity with the Prior Bonds. WHEREAS, the Board has reviewed the form of a bond ordinance to be adopted by the Common Council authorizing the City to issue and sell the 2015 Bonds for the purpose of financing the Refunding (the "2015 Bond Ordinance"), a copy of which is attached hereto as Exhibit A, and the Board has found the 2015 Bond Ordinance to be satisfactory. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF PUBLIC WORKS OF THE CITY OF SOUTH BEND, INDIANA, AS FOLLOWS: Section 1. The Board hereby recommends to the Common Council that the Refunding be undertaken by the City and the Sewage Works. Section 2. To provide funds necessary to pay for or reimburse the City for the costs of the Refunding, together with expenses incidental thereto, including expenses in connection with the issuance of the 2015 Bonds, the Board hereby approves and recommends to the Common Council the issuance by the City of Sewage Works Revenue Bonds in a principal amount not to exceed Twenty -Eight Million Dollars ($28,000,000). Section 3. The Board hereby approves the substantially final form of the 2015 Bond Ordinance presented to this meeting and recommends to the Common Council the adoption of such 2015 Bond Ordinance which sets forth the terms and conditions of the 2015 Bonds to be issued thereunder. Section 4. The Board hereby ratifies the actions taken to file the 2015 Bond Ordinance with the Clerk of the City ("City Clerk") for presentation to the Common Council, and the Clerk of the Board is hereby directed to present a copy of this Resolution to the City Clerk for presentation to the Common Council for its consideration, as soon as may be done, thereby requesting the issuance of the 2015 Bonds. Section 5. This Resolution shall be in full force and effect from and after its adoption by the Board. Adopted this IOth 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 s/ James A. Mueller ATTEST: s/Linda M. Martin, Clerk APPROVAL OF AGREEMENTS/CONTRACTSTROPOSALS/ADDENDA The following Agreements/Contracts/Proposals/Addenda were submitted to the Board for approval: Type Business Description Amount/ Mution/ Funding Second Professional Nyhart Preparation of 2015 GASB 45 $7200 Relos/Maradik Services OBEB Valuation Report (Administration Agreement & Finance Professional Services) Professional Keramfda Oversight and Installation of $10,050 Maradik/Relos Services Groundwater Well and Gas (Organic Agreement Probes at Organic Resources Resources per IDEM Agreed Order Other Contractual Agreement Axelberg City to Allow Construction of N/A Relos/Maradik