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I <br />I <br />I <br />i <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />i <br />I <br /> <br />IV. <br /> <br />ESTIMATED COSTS <br /> <br />The estimated project costs presented herein reflect the con- <br />struction costs and overhead costs. Construction costs are esti- <br />mated contract amounts for the actual construction. Right-of-way <br />costs were not included since it is proposed to utilize dedicated <br />rights-of-way. Overhead costs include, but are not limited to, <br />engineering, construction staking and inspection, administrative <br />service, legal, interest during construction and contingency. <br />Overhead costs for the project shown at the conclusion of each <br />schedule summary are estimated based on percentages of construc- <br />tion cost. Those percentages are estimated to be as follows: <br /> <br />- Engineering 8% <br /> <br />- Staking & Inspection 6% <br /> <br />- Bonding & Legal 3% <br /> <br />- City Staff Administration 5% <br /> <br />- Contingencies 3% <br /> <br />- Interest During Construction 5% <br /> <br />Interest during construction or capitalized interest was based on <br />a project period six (6) months and an annual interest rate of <br />ten percent (10%). If the project period is shortened, these <br />costs could be less. <br /> <br />The estimated cost of construction plus overhead are shown as the <br />estimated project cost. <br /> <br />The following Tables I and II show the estim '~d project costs <br />and proposed assessed costs for sanitary sewer and watermain. <br /> <br />4 <br /> <br /> <br />