2015-150 Council Resolution - Laserfiche WebLink

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COSTS The contract costs of the work, or if the work is not contracted, the cost of all labor, materials, normal engineering costs and equipment rental required to complete the work, shall constitute the actual "construction costs" and shall be so referred to herein. "Estimated costs" are good faith projections of the costs that will be incurred for this project. Actual costs will vary and those will be the costs for which the relevant parties will be responsible. The estimated construction cost of the total project is $1,123,197.02. The total estimated construction cost to the City is $79,676.73 The City participation in construction engineering will be at a rate of eight percent (8%) of their designated construction share of $79,676.73. The estimated cost to the City for construction engineering is $6,374.14. In summary, the total City share of this project is $86,050.87 (includes construction and construction engineering costs). Upon award of the contract, the City shall pay to the County, upon written demand by the County, ninety five percent (95%) of its portion of the cost of the project estimated at $81,748.33. Prior to billing, this estimate will be updated by the County to reflect the actual bid prices as awarded. An updated cost estimate shall be provided to the City at the time of billing. The City's share of the cost of the project shall include only construction and construction engineering expense and does not include engineering design and administrative expenses incurred by the County. Upon final completion of the project, the City's share of the construction cost will be based upon actual construction costs. If necessary, adjustments to the initial ninety five percent (95%) charged to the city will be made in the form of credit or additional charges to the City's share. Also, the remaining five percent (5%) of the City's portion of the construction costs shall be paid. IV. TERM This Agreement shall continue until terminated as provided hereinafter, but in no case shall this Agreement extend beyond one year after completion of the Project. V. DISBURSEMENT OF FUNDS All funds disbursed by the County or City pursuant to this Agreement shall be disbursed by each entity pursuant to the method provided by law. VI. CONTRACTS AND PURCHASES All contracts let and purchases made pursuant to this Agreement shall be made by the County in conformance to the State laws. VII. STRICT ACCOUNTABILITY A strict accounting shall be made of all funds and report of all receipts shall be made upon request by either party. Prior to City payment to the County, the County shall provide the City a copy of all cost participation documents submitted to MnDOT State Aid to assist the City in their application for MSA funding. 4