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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 <br />estimated contract amounts for the actual construction. Right- <br />of-way costs were not included since it is proposed to utilize <br />dedicated rights-of-way. Overhead costs include, but are not <br />limited to, engineering, construction staking and inspection, <br />administrative service, legal, interest during construction and <br />contingency. Overhead costs for the project shown at the con- <br />clusion of each schedule summary are estimated based on percen- <br />tages of construction cost. Those percentages are estimated to <br />be as follows: <br /> <br />- Engineering 9% <br /> <br />- Staking & Inspection 6% <br /> <br />- Bonding & Legal 3% <br /> <br />- City Staff Administration 5% <br /> <br />- Contingencies 2% <br /> <br />- Interest During Construction 5% <br /> <br />Interest during construction or capitalized interest was based <br />on a project period six (6) months and an annual interest rate <br /> <br />of 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 <br />the estimated project cost. <br /> <br />4 <br /> <br /> <br />