Agenda - 09-05-1995 - IX-B - Laserfiche WebLink

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RECOMMENDATIONS: • Exercise option 5; Accept the low bid submitted by Trafalgar House Construction as modified by the cost saving measures cited above. (Contract amount not to exceed $3,408,642.) • Approve contracts contingent upon Attorney and Staff review in order that project can move along as expeditiously as possible; • Seek private placement for the additional funds needed (approximately $1,500,000 for JaiUCourthouse). Note: In order to maintain the bank qualification which allows us to obtain lowest interest rates possible, the private placement of funds cannot occur until after January 1, 1996. However, it is recommended that the Board authorize Staff to develop a project ordinance to add funds to the Jail/Courthouse Project at this time so contracts can be authorized for the project total. • Use additional Federal revenue to pay debt service for the private placement funds for the Jail/Courthouse project. • Note: On a separate, but related issue the Board should further note that private placement funds sought in January, 1996 would total $2 million, which would include the $500,000 previously committed to complete the Southern Human Services Project. Additional debt service payment for this amount would range from approximately $67,000 for the first year to $35,500 in year fifteen.