The City of Monticello, Iowa
IN THE NAME AND BY THE AUTHORITY OF THE CITY OF MONTICELLO, IOWA
RESOLUTION #18-60
Approving the release of Retainage and payment of same in the amount of $27,764.97 to Eastern Iowa Excavating & Concrete Re: 2017 Main Street HMA Project.
WHEREAS, Eastern Iowa Excavating & Concrete contracted with the City to perform the 2017 Main Street HMA project, and
WHEREAS, Eastern Iowa Excavating & Concrete has previously completed work on this project and been paid for their work but for the contractually agreed upon 5% retainage which totals $27,764.97, and
WHEREAS, Upon a review of the project as completed and after consultation with the City Engineer, it has been determined to be appropriate to release the retainage and pay Eastern Iowa Excavating & Concrete the retainage balance in the amount of $27,764.97 at this time, and
WHEREAS, After release and payment of the retainage the City will then be in a position to seek final reimbursement from the IDOT for their share of the final project costs, and
WHEREAS, The Council finds that the retainage should be released and payment made to Eastern Iowa Excavating & Concrete in the amount of $27,764.97.
NOW THEREFORE, BE IT RESOLVED that the City Council of Monticello, Iowa does hereby approve the release of the retainage and payment to Eastern Iowa Excavating & Concrete, Re: 2017 Main Street HMA project, in the amount of $27,764.97.
IN THE TESTIMONY WHEREOF, I have hereunto subscribed my name and caused the Great Seal for the City of Monticello, Iowa to be affixed. Done this 16th day of April, 2018.
Brian Wolken, Mayor
Attest:
Sally Hinrichsen, City Clerk