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size and smaller. The crack filling and bituminous repairs are proposed to be <br />completed by the City's Street Maintenance Department as routine maintenance. <br /> <br />It is anticipated that the normal life of seal coating with a Class C aggregate <br />is approximately 5 years. This will vary somewhat depending on the type and <br /> <br />amount of traffic. <br /> <br />COSTS: <br />Estimated costs and estimated quantities are provided below for the proposed <br /> <br />improvements. <br /> <br /> Item <br /> <br />Bituminous Material <br /> <br />Aggregate FA-2 Modified <br /> (Class C) <br /> <br />ESTIMATED COSTS <br /> <br />Estimated Quantity <br />6,140 Gallons <br />310 Tons <br /> <br />Estimated Construction Cost <br /> <br />Contingencies, Engineering & Administrative <br /> <br /> ESTIMATED PROJECT COST <br /> <br />Estimated Cost <br />$ 7,675.00 <br /> <br />5~580.00 <br />$13,255.00 <br />2~650.00 <br />$15,905.~0 <br /> <br />FINANCING AND ASSESSMENTS: <br /> o <br />In accordance with the City of Ramsey's current street assessment ordinance, the <br />proposed improvements are proposed to be financed by special assessments to the <br />benefitting property on a per unit basis. <br /> <br />Due to the current bond market situation, it is difficult to project accurately <br />the annual amortized unit costs. Therefore, an estimated interest rate of 10 <br />percent will be used to project estimated annual costs. <br /> <br /> <br />