Resolution - #96-08-194 - 08/13/1996

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5) That upon execution and approval of this agreement and a request in writing by the State, the County shall advance to the State an amount equal to its portion of the costs as specified in Paragraph 4. The County's costs shall be based on the estimated costs for State furnished materials. 6) That upon compilation of the actual costs for State furnished materials, the amount of the funds advanced by the County in excess of the County's share will be returned to the County without interest and the County agrees to pay to the State that amount of its share which is in excess of the amount of the funds advanced by the County. 7) That payment to the County will be made by the State for 67 percent of the actual costs for the County furnished materials [estimated costs $40,805.48] furnished to the project, plus eight (8) percent of its share for the cost of Engineering and Inspection, and upon submission by the County of an invoice in quintuplicate to the State's Assistant Division Engineer in the Metro Division State Aid Office at Roseville itemizing the costs and certified by a responsible County official that said materials have been furnished under the terms of this agreement. The invoice and supporting records are subject to audit by State's representative. 8) That upon completion of the work provided for in Paragraph 3 hereof to the satisfaction of the State's Assistant Division Engineer in the Metro Division State Aid Office at Roseville or his duly authorized representative, the State shall pay to the County the State's share of the actual Construction Costs plus eight (8) percent of its share for the cost of Engineering and Inspection. 9) That the amount to be encumbered for payment to the County from Trunk Highway Funds for the construction work performed under this Agreement is $102,682.81, which is the State's share of the estimated Construction Costs plus Engineering and Inspection Cost and the estimated County furnished materials costs plus Engineering and Inspection Costs. In the event that at any time it appears that such reimbursement will exceed said sum, the County shall promptly notify the State's Assistant Division Engineering in the Metro Division State Aid Office at Roseville or his duly authorized representative of the reason for the increase in cost and the amount of additional funds necessary to complete the project. If approved by the State's Assistant Division Engineer in the Metro Division State Aid Office at Roseville or his duly authorized representative, additional funds shall be encumbered by the State and notice by the State's Assistant Division Engineer in the Metro Division State Aid Office at Roseville or his duly authorized representative to the County of that additional encumbrance will permit the County to complete this project. 10) That payment to the County will be made by the State for such contract work which is complete and approved and upon submission by the County of an invoice in quintuplicate itemizing the actual Construction Cost and certified by a responsible County official that said work has been completed under the terms of this Agreement. The invoice and supporting records are subject to audit by the State's representative at the direction of the State. 11) That the County shall submit to the State a certified copy of the low bid received and an abstract of all bids received by the County, together with the County's request for concurrence by the State in the award of a construction contract. 12) That the construction work provided for herein shall be under the direction and supervision of the County. It is agreed, however, that the State shall have the right to periodically inspect said cost sharing construction work.