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Honorable Mayor and Members of the City Council: <br /> <br />BACKGROUND <br /> <br />The work will consist of removing existing pavement markers, traffic lines and traffic <br />markers, and furnishing and installing new thermoplastic markings, traffic lines, and pavement <br />markers on City streets at various locations (Exhibit A). <br /> <br />The locations were selected from a list generated by the Streets and Traffic Sections and <br />coordinated with the City's street resurfacing project. <br /> <br />BIDS <br /> <br />Sealed bids for this project were opened on May 19, 2005. There were a total of three bids <br />received, which ranged from $142,780 to $173,417.50 (see attached Exhibit B). The <br />engineer's estimate was $172,322. The low bid of $142,780 was received from Chrisp <br />Company. All bid documents were found to be in order. Past work performed by Chrisp <br />Company was verified to be satisfactory. <br /> <br />BUDGET <br /> <br />Project funding, along with estimated expenditures are presented below. <br /> <br /> Funding <br /> CIP 035007 Annual Traffic Buttons and Line markers Installation $211,736 <br /> <br /> Estimated expenditures <br /> Construction Bid $142,780 <br /> Const. Contingency (20%) $ 28,556 ' <br /> Total $171,336 <br /> <br /> SR:05:140 <br /> Page 2 of 3 <br /> <br /> <br />