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ESTIMATED COSTS <br /> <br />The estimated project costs presented herein reflect the <br />construction costs and overhead costs. Construction costs are <br />estimated contract amounts for the actual construction. Right- <br />of-way costs were not included. Overhead costs include, but are <br />not limited to, engineering, construction staking and inspection, <br />administrative service, legal, interest during construction, <br />right of way acquisition and contingency. Overhead costs for the <br />project shown at the conclusion of each schedule summary are <br />estimated based on percentages of const~-uction cost. Those per- <br />centages are estimated to be as follows: <br /> <br />- Engineering 8% <br /> <br />- Staking & Inspection 7% <br /> <br />- Bonding & Legal 1% <br /> <br />- City Staff Administration 5% <br /> <br />- Right of Way and Contingencies 15% <br /> <br />- Interest During Construction 4% <br /> <br />Interest during construction or capitalized interest was based on <br />a construction period of six (6) months and an annual interest <br />rate of eight percent (8%). If the construction period is <br />changed, this cost will be adjusted. <br /> <br />The estimated cost of construction plus overhead are shown as the <br />estimated project cost. <br /> <br /> <br />