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A RESOLUTION OF THE CITY OF JONESBORO, ARKANSAS TO ACCEPT THE LOW BID AND ENTER INTO A CONTRACT WITH TRAC WORKS, INC. FOR THE INDUSTRIAL RAIL SPUR FACILITY - SECTION II/TRACK CONSTRUCTION - JOB NO. 2011:27
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WHEREAS, the City of Jonesboro has desires to accept the low bid and enter into a contract for the construction of the Industrial Rail Spur Expansion - Section II/Track Construction - Job No. 2011:27;
WHEREAS, the low bidder and the firm selected for the Industrial Rail Spur Expansion - Section II/Track Construction - Job No. 2011:27 is Trac Works, Inc.;
WHEREAS, Trac Works, Inc. has bid $1,322,756.96 for the Industrial Rail Spur Expansion - Section II/Track Construction - Job. No. 2011:27;
WHEREAS, the funding for the execution of the contract shall come 90% from secured grant funds and 10% from the 2011 capital improvement budget. Secured grant funding for this bid includes 50%, or $661,378.48, from the Arkansas Economic Development Commission, 40%, or $529,102.78 from the Economic Development Administration, and 10%, or $132,275.70 from the FY 2011 capital improvements budget.
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL FOR THE CITY OF JONESBORO, ARKANSAS THAT:
Section 1. That the City of Jonesboro shall accept the low bid and enter into a contract with Trac Works, Inc. in the new amount of $1,322,756.96 for the Industrial Rail Spur Expansion - Section II/Track Construction - Job. No. 2011:27.
Section 2. the funding for the execution of the contract shall come 90% from secured grant funds and 10% from the 2011 capital improvement budget. Secured grant funding for this bid includes 50%, or $661,378.48, from the Arkansas Economic Development Commission, 40%, or $529,102.78 from the Economic Development Administration, and 10%, or $132,275.70 from the FY 2011 capital improvements budget.
Section 3. The Mayor and the City Clerk are hereby authorized by the City Council for the City of Jonesboro to execute all documen...
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