The City of Monticello, Iowa
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA
RESOLUTION #17-95
Approving Pay Request #1 in the amount of $360,822.49 submitted by Eastern Iowa Excavating & Concrete Re: 2017 Main Street H.M.A. Resurfacing Project.
WHEREAS, Eastern Iowa Excavating & Concrete, Inc. contracted with the City and the IDOT to perform specified improvements to Main Street between South Street and 3rd Street, and
WHEREAS, Eastern Iowa has submitted their 1st pay request in the amount of $360,822.49 which reflects 5% retainage, with total retainage held to date after this payment in the amount of $18,990.66, and
WHEREAS, The project is divided into two divisions as shown by the Application for Partial Payment with Division 1 representing the City share of the project and Division 2 representing the State share of the project, and
WHEREAS, The City is required to make the full payment due at this time and to thereafter request reimbursement from the IDOT for their share which totals $163,628.74 after reducing the IDOT share by the Division 2 retainage totaling $8,612.04, and
WHEREAS, The City Engineer has reviewed pay request #1 and recommends its approval.
NOW THEREFORE, BE IT RESOLVED that the City Council of Monticello, Iowa does hereby approve Pay Request #1 submitted by Eastern Iowa Excavating & Concrete, Inc. Re: 2017 Main Street H.M.A. Resurfacing Project and authorizes payment in the amount of $360,822.49, maintaining a 5% retainage in the amount of $18,990.66.
IN THE TESTIMONY WHEREOF, I have hereunto subscribed my name and caused the Great Seal for the City of Monticello, Iowa to be affixed. Done this 5th day of September, 2017.
Dena Himes, Mayor
Attest:
Sally Hinrichsen, City Clerk