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Award Contract to Install LED Lights and Controls <br />Corporate Yard Facilities, On -Bill Financing <br />September 4, 2018 <br />Page 4 <br />• The contract amount includes a $40,634 contingency. $25,634 of this contingency will be <br />covered by SCE funds. The remaining $15,000 will be paid from City funds, but only for <br />authorized additional lighting improvements not qualified under SCE's program. <br />City funds for the $15,000 contingency are budgeted for expenditure in FY 2018-19 in the Building <br />Maintenance — Contract Services expenditure account (No. 07310100-62300). <br />Funds in the amount of $19,490.98 for the FY 2018-19 OBF loan payments to SCE are budgeted <br />and available in the Building Maintenance, Loan Repayment-OBF account (No. 07310100-67003). <br />Funds for the subsequent fiscal years will be budgeted in the same account, in accordance with <br />the following estimated loan repayment schedule: <br />Fiscal Year Description Amount <br />Assumes total loan amount is utilized and repayment begins January 2019 <br />First Payment $2,309.38 118 Monthly Payments., $3,436.62 <br />2018-19 <br />First Payment <br />$2,309.38 <br />5 Monthly Payments <br />$17,181.60 <br />2019-20 through 2027-28 <br />108 Monthly Payments <br />9 Years <br />$41,239.44 annual) <br />$371,112.56 <br />2028-29 <br />5 Monthly Payments <br />$17,181.60 <br />Total <br />1 $407,795.14 <br />N <br />Fuad S. $weiss, PE, PLS <br />Executiv& Director <br />Public Works Agency <br />FS:JA:CK:SS <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />Sergio Vidal S� <br />Assistant Director <br />Finance and Management Services Agency <br />Exhibits: 1. SCE Notice of Approval — Incentives <br />2. SCE Notice of Approval — OBF Loan <br />3. OBF Loan Agreement — Sample Form <br />4. RFP 18-071 <br />5. Contract Agreement <br />25C-5 <br />