Township Council Meeting — Packet

THE FIFTH PARAGRAPH IS CHANGED TO: The Department will calculate fuel price adjustment on a monthly basis using the following formula: F = (MF -BF)xG Where: F = Fuel Price Adjustment MF = = Monthly Fuel Price Index for work performed from the first day of the month to the last day of the month for the month prior to the estimate cutoff date BF= Basic Fuel Price Index G= Gallons of Fuel for Price Adjustment THE SEVENTH PARAGRAPH IS CHANGED TO: The basic fuel price index is the previous month's fuel price index before receipt of bids. The Department will use the fuel price index for the month before the regular monthly estimate cutoff date as the Monthly Fuel Price Index for work performed in the previous calendar month. If the Monthly Fuel Price Index increases by 50 percent or more over the Basic Fuel Price Index do not perform any work involving Items listed in Table 160.03.01-1 without written approval from the RE. 160.03.02 Asphalt Price Adjustment THE FOLLOWING IS ADDED BEFORE THE FIRST PARAGRAPH: Asphalt Price Adjustment will be reimbursable when deemed eligible by NJSA 40A:11-13). THE THIRD PARAGRAPH IS CHANGED TO: The Department will calculate the asphalt price adjustment by the following formula: A= (MA- BA) xT = Asphalt Price Adjustment MA= Monthly Asphalt Price Index for work performed from the first day of the month to the last day of the month for the month prior to the estimate cutoff date BA= Basic Asphalt Price Index = Tons of New Asphalt Binder? The Department will determine the weight of asphalt binder for price adjustment by multiplying the percentage of new asphalt binder in the approved job mix formula by the weight of the item containing asphalt binder. Ifa Hot Mix Asphalt Item has a payment unit other than ton, the Department will apply an appropriate conversion factor to determine the number of tons of asphalt binder used. Tons of New Asphalt Binder shall be the tons of Asphalt Cement generated from Virgin Asphalt Cement only THE SIXTH PARAGRAPH IS CHANGED TO: The basic asphalt price index is the asphalt price index for the month before the opening of bids. The Department will use the asphalt price index for the month before the regular monthly estimate cutoff date as the monthly asphalt price index for work performed in the previous calendar month. THE FOLLOWING IS ADDED: Fuel that is eligible for a fuel price

h before the regular monthly estimate cutoff date as the monthly asphalt price index for work performed in the previous calendar month. THE FOLLOWING IS ADDED: Fuel that is eligible for a fuel price adjustment shall be the sum of the quantities of the eligible pay items in the contract times the fuel usage factors. 15