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A RESOLUTION OF THE CITY OF JONESBORO, ARKANSAS TO ACCEPT THE LOW BID AND ENTER INTO A CONTRACT WITH GARRY MEADOWS CONSTRUCTION CO., INC. FOR THE INDUSTRIAL PARK RAIL SPUR EXPANSION - SECTION I/SUBGRADE WORK - 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 Park Rail Spur Expansion - Section I/Subgrade Work - Job No. 2011:27;
WHEREAS, the low bidder and the firm selected for the Industrial Park Rail Spur Expansion - Section I/Subgrade Work - Job No. 2011:27 is Garry Meadows Construction Co., Inc.;
WHEREAS, Garry Meadows Construction Co., Inc. has bid $565,921.25 for the Industrial Park Rail Spur Expansion - Section I/Subgrade Work - 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 $282,960.63, from the Arkansas Economic Development Commission, 40%, or $226,368.50 from the Economic Development Administration, and 10%, or $56,592.12 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 Garry Meadows Construction Co., Inc. in the new amount of $565,921.25 for the Industrial Park Rail Spur Expansion - Section I/Subgrade Work - 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 $282,960.63, from the Arkansas Economic Development Commission, 40%, or $226,368.50 from the Economic Development Administration, and 10%, or $56,592.12 from the FY 2011 capital improvements budget.
Section 3. The Mayor and the City Clerk are hereby authorize...
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