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<br />• • <br />• Minutes, Regular Meeting, La Porte City Council <br />December 1, 1982, Page 2 <br />City Manager Owen brought Council up to date on the financial <br />aspects of the sewer bond funds, informing Council of the <br />following: <br />I. Possible Recovery of Funds from Bonding Co. <br />Total Amount of original contract* $776,546.31 <br />*Based on estimate by Busch, <br />Hutchison & Associates of <br />$826,082.81 less $49,536.50 which <br />is the amount of proposed Change <br />Order #1 - not approved <br />Balance outstanding on original contract 165,876.20 <br />Original contract amount 776,546.31 <br />Less amount of work completed 610,670.11 <br />165,876.20 <br />Amount necessary to complete original scope 488,522.50 <br />• of work <br />Bid by Reliance Construction, Inc. 552,392.50 <br />Less items 53-68 of bid proposal 63,870.00 <br />(Change Order #1 items) 488,522.50 <br />Possible recovery of funds from bonding co. <br />Am;bunt necessary to complete 488,522.50 <br />original scope of work <br />Less balance outstanding on 165,876.20 <br />original contract 322,646.30 <br />II. Funds Available for Completion of Re-Bid <br />1979 Sewer Bond Fund <br />25~ x 735,965.90 (originally set aside for 183,9,91.4.8 <br />Contract IV) <br />25$ x 610,670.11 (actual completed work -152,667.53 <br />Contract IV) <br />Available to reprogram into Contract IV re-bid 31,323.95 <br />Approx. current contingency 1979 sewer-bond fund 499,7,98.58 <br />(see attached sheets) <br />Total available funds 1979 Sewer Bonds <br />TOTAL 531,1,21.58 <br />• <br />