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09
City of Pleasanton
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CITY CLERK
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9/25/2013 12:13:24 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
10/1/2013
DESTRUCT DATE
15Y
DOCUMENT NO
09
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(c) The Association acknowledges that the Total Bid Price is not the Association's final cost <br /> for the upgrade of the selected items. The final cost shall include the Total Bid Price plus <br /> the cost of any change orders related to the Association's lights which arise during the <br /> course of the upgrade project, which project shall be administered by the City with no <br /> administrative costs to the Association, (the "Final Cost"). <br /> (i) During the course of the project, if change orders exceeding 5% of the <br /> Association's Total Bid Price, above, are requested by the selected contractor <br /> for the Association's selected lights, the City shall consult with the <br /> Association before making any determination regarding approval of such <br /> change order. <br /> (d) The City shall advise the Association in writing of the Final Cost for the Association's <br /> selected items prior to the City accepting the Project as complete. At the Association's <br /> request, City shall provide Association with access to and/or copies of all project related <br /> documents, and provide for joint site inspections, so that the Association can verify Final <br /> Cost. <br /> (e) For the Additive Bid Item for "GPS Data Collection", if the Association has decided to <br /> proceed as provided in Subsection (b), above, then Association's pro-rata share of this <br /> additive item shall be pro-rated based on the number of Association lights as a percentage <br /> of the total number of lights retrofitted as part of this City project. <br /> 3. Loan for Final Cost. <br /> (a) The Association is within the boundaries of the North Pleasanton Improvement District <br /> No. 3 (NPID No. 3) Assessment District No. 1986-9, for which there is a retention fund <br /> for projects that are not currently scheduled for action and the City has obtained all <br /> necessary legal and administrative authority to loan said funds to the Association. <br /> (b) If the Association elects to proceed with the upgrade for selected Association lights as <br /> provided in Section 2(b), above, the City will make available to the Association a loan for <br /> the amount of the Final Cost described in Section 2(d), above, from the NPID No. 3 <br /> retention account subject to: <br /> (1) an annual rate of compounded interest based on the Local Agency Investment <br /> Fund (LAIF) of the California State Treasurer LAW Apportionment Rate in <br /> effect each January 2nd, which shall apply for the following twelve (12) <br /> months; <br /> (2) twenty-one (21) semi-annual payments due each June 1 and December I <br /> commencing upon acceptance by the City Council of the LED upgrade <br /> project; <br /> (3) no prepayment penalty; <br /> 3 <br />
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