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2002-040
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2002-040
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Last modified
3/2/2017 11:21:08 AM
Creation date
9/30/2015 5:19:39 PM
Metadata
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Template:
Resolutions
Resolution Number
2002-040
Approved Date
06/18/2002
Resolution Type
Traffice Signal
Entity Name
Florida Department of Transportation
Subject
Joint Agreement Traffice Signal Maintenance
Archived Roll/Disk#
2745
Supplemental fields
SmeadsoftID
2689
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f i <br /> 750-010-22 <br /> TRAFFIC OPERATIONS <br /> 05/02 <br /> -7- <br /> EXHIBIT B <br /> TRAFFIC SIGNAL MAINTENANCE AND COMPENSATION AGREEMENT <br /> 1.0 PURPOSE <br /> This exhibit defines the method and limits of compensation to be made to the Maintaining Agency for the services <br /> described in this Agreement and in Exhibit A and Method by which payments will be made. <br /> 2.0 COMPENSATION <br /> For the satisfactory completion of all services detailed in this Agreement and Exhibit A of this Agreement, the <br /> Department will pay the Maintaining Agency the Total Lump Sum in Exhibit A. The Maintaining Agency will <br /> receive one lump sum payment at the end of each fiscal year for satisfactory completion of service. <br /> Total Lump Sum Amount for each Fiscal Year is calculated by adding all of the individual intersection amounts. <br /> The individual intersection amounts are calculated by taking the FY Unit Rate times the Percent of State Road <br /> Approaches to Total Approaches. <br /> Example: For a intersection with 4 approaches with 2 approaches (50%)being state roads, the <br /> intersection amount will be: $518 x(2/4)=$259 <br /> Unit Rates per 100% State Intersections <br /> FY 02-03 $ 518 <br /> 03-04 $1,599 <br /> 04-05$2,196 <br /> 05-06$2,262 <br /> 06-07$2,330 <br /> Beginning FY 07-08, the Unit Rate for each fiscal year will be 3% more than the Unit Rate for the <br /> previous fiscal year, unless otherwise specified in an amendment to this Agreement. <br /> 3.0 PAYMENT PROCESSING <br /> The Maintaining Agency shall invoice the Department yearly in a format acceptable to the Department. <br />
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