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AGENDA ITEM 7E <br />STAFF ORIGINATOR: James E. Studenski, City Engineer <br />COUNCIL MEETING DATE: February 10, 2003 <br />TOPIC: Resolution No. 03 -18, Approve Final Payment for 2001 Wear <br />Course Project <br />VOTE REQUIRED: 3/5 Vote Required <br />BACKGROUND: <br />The contractor for the 2001 Wear Course Project, North Valley, Inc. is requesting <br />City approval of Payment No. 2 (final) in the amount of $4,466.10. A copy of the <br />final payment is attached. The contractor has completed all work and has <br />provided all necessary documentation. <br />The original contract amount was $88,530.50 and the final contract amount is <br />$89,322.00. The over run of $791.50 was from more bituminous material used <br />than what was in the contract amount. The total for the project was $9,854.50 <br />under the Engineer's estimate of $99,176.50. <br />Approval of the final payment will begin the one -year warranty period. <br />OPTIONS: <br />1. Return to staff for further review. <br />2. Approve Resolution 03 -18 Approving Payment No. 2 (final) for the 2001 Wear <br />Course Project. <br />RECOMMENDATION: <br />Option No. 2 - Staff recommends that Resolution 03 -18 be approved. <br />• <br />