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REQUEST FOR COUNCEL ACTION DATE. 1/26/98 98 ITEM NO.. C'-'4 Is Departme Approval. Manager Reviewed.* Agenda t Consent: Agenda Item Descriptiona. Final Payment and Acceptance for Twin Lakes Regional Pond Project T-9 -14 Background: on November 25, 1 996, the City Council received the feasibility study and scheduled a public improvement for construction of a regional pond for the Twin Cafes Area Project No. T-96-14. on December 16, 1 996 the City Council Meld a public improvement hearing and on that date ordered the improvement, preparation of plans and specs, received plans and specs, and authorised advertisement for bids. on January 27, 1997, the City Council awarded the low hid to F.M. Prattalone Excavating and Grading, Inc, to the amount of$305,007,05. The actual construction was performed during the spring and summer of 1997. The project was assessed after the City Council held an assessment hearing on August 11, 1997 and adopted the assessment roll on September 22, 1997. Policy objectives: The City policy requires that the following steps be completed to finalize a construction contract: 1. A project summary sheet detailing cost and schedule. 2. Certification from the City Engineer or Consulting Engineer verifying that all of the work has been completed in accordance with plans and specifications. 3. A resolution by the City Council accepting the contract and beginning the one-year waffanty. Financial s: The follovnng is a summary of project financing: Work covered by contract. 3 01,923.7 o Changeorders ................................... ..................................... 0.00 FINAL CONTRACT TOTAL ............,..,..........................$3011923.70 Project financed ley: Assessments ., ................,......, ............ .............. .......... �],�1�.�� (Regional Pond only) City of Roseville Storm Utility Fund ...................................$70,409.61 TOTAL. ......r............•...........r............... . ................$3011923,70