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11514RESOLUTION NO. 11,514 A RESOLUTION AWARDING A CONTRACT TO CRANFORD CONSTRUCTION COMPANY FOR THE 2003 ASPHALT RESURFACING PROGRAM WHEREAS, street resurfacing is needed along selected collector streets within the City of Little Rock to restore and preserve the riding surfaces, thus improving safety and enhancing vehicular and pedestrian access, AND, Cranford Construction Company submitted the lowest bid meeting specifications for Bid 903 -234 on May 13`h 2003. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS: SECTION 1. The City Manager is hereby authorized to award a contract and execute an agreement with Cranford Construction Company in an amount not to exceed $476,776.13 ($454,072.50 plus 5% contingencies) for the construction of the 2003 Asphalt Resurfacing improvements on select City streets. SECTION 2. Funding for the project is available from City of Little Rock bond fund interest earnings. Account 9304 - 220 -B260 -6081 (99). SECTION 3. This resolution will be in full force and effect from and after the date of its adoption. ADOPTED: MAY 20, 2003 ATTEST: APPROVED: NANCY WOOD ''Ya4d'' JIM AILEY City Clerk Mayor