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11-22-1995 Additions
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11-22-1995 Additions
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7/23/2014 12:48:22 PM
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1/10/2014 2:24:01 PM
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11 -22 -1995 4:24PM <br />Mr. Joel Hanson <br />City of Little Canada <br />Page 3 <br />FROM BONESTROO " ASSOC 512 636 1311 P.4 <br />File No. 37219 <br />Liquidated Damages calculation: <br />242 days X $400.00 /day = $96,800 <br />INTEREST ON PAST DUE AMOUNT <br />Lastly, because of the nature of the issue, the contractor's payment was not issued within the <br />contractual time constraints and the contractor is therefore entitled to interest. The interest <br />amount is calculated as follows: <br />October 25 to November 22 = 28 days <br />October long term U.S. bond yield + 1% = 7331 <br />28 day simple interest amount = 200,849.21 x 0.07331 = 365 x 28 = $1,129.53 <br />We recommend payment of "Request for Payment No. 3 - Revised" in the amount of <br />$201,978.74. <br />Yours very truly, <br />BONESTROO, ROSENE, ANDERLIIK & ASSOCIATES, INC <br />PI" hitalkT <br />Jerry Bourdon <br />Page 5 <br />
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