b) Watermain’ ~ City refunds 50% of the lowest
acceptable bid for the refundable
watermain construction. The
remaining 50% would be paid back as
recovered from other developments in
accordance with the agreement between
the City and developer. Total refund
for watermain is estimated at $66,000.

City refunds 50% of the lowest acceptable
bid for the refundable road construction.
The remaining 50% of the costs would be
paid back as recovered from other
developments in accordance with the
agreement between the City and developer.
Total refund for road is estimated at
$100,000.

ad) Inspection City refunds amount of inspection fee
Fee applicable to the construction of the
watermain and sewer main and road
construction. a
estimated amount to be refunded -
$8,640 being 4% of letter of credit
amount.

/89g
Mar 24/82