Laserfiche WebLink
<br />.£. /0- 9 <br /> <br />length of this agreement. <br /> <br />The adjustment in price for the asphalt concrete materials will be determined in <br />conformance with the following formulae - the formulae will be appropriately <br />adjusted for English tons from the Metric ton formula constant (1.1023) for the <br />asphalt concrete materials purchased during the month: <br /> <br />A. Total monthly adjustment = AQ. . <br />B. For an increase in paving' asphalt price index exceeding ten (10%) percent: <br />A= 0.90 (1.1023) lutrb-1.10) Ib ' <br />C. For a decrease in asphalt paving price index exceeding ten (10%) percent: <br />,A = 0.90 (1.1023) lullb - .90) Ib <br />D. Where: ' <br />A = Adjustment in price per metric ton of paving asphalt used to produce asphalt <br />concrete rounded to the nearest $0.01. <br />lu = The California Statewide Paving Asphalt Price Index which is in effect on the <br />first business day of the month in which the asphalt concrete materials are <br />purchased. . <br />Ib = The California Statewide Paving Asphalt Price Index for the month in which <br />the bid award for the agreement occurred. <br />Q = Quantity in tons of paving asphalt that was used in producing the quantity of <br />asphalt concrete purchased. <br /> <br />The adjustment in price for the English Tons of asphalt concrete purchased shall <br />be shown on the payment invoices. . <br /> <br />The California Statewide Paving Asphalt Price Index is determined each month <br />on the first business day of the month by the California Department of <br />Transportation (CaITrans) using the median of posted prices in effect as posted <br />by Chevron, Mobil, and Unocal for the Buena Vista, Huntington Beach, Kern <br />River, Long Beach, Midway Sunset, and Wilmington Fields. <br /> <br />In the event that the companies discontinue posting their prices for a field, <br />CalTrans will determine an index from the remaining posted prices. CalTrans <br />reserves th~ right to include in the index determination the posted prices of <br />additional fields. . <br /> <br />M. <br /> <br />General Scope of Work: <br /> <br />Provide materials at cost quoted by Bidder to City personnel at bidder's materials <br />plant. <br /> <br />Dated: ~ l (4Ið~ <br /> <br />6 <br />