A RESOLUTION OF THE SEAL BEACH CITY COUNCIL CONFIRMING AN ADJUSTMENT TO THE BIDDING THRESHOLD FOR PUBLIC WORKS CONTRACTS TO $33,367 PURSUANT TO SECTION 1010 OF THE CITY CHARTER
WHEREAS, Section 1010 of the City Charter requires the City Engineer to adjust the bidding threshold by computing the percentage difference between the current Engineering News Record (ENR) Construction Cost Index – 20 City Average and the ENR for the previous July 1; and
WHEREAS, the City Charter requires the City Council to review such adjustment at a public hearing and upon Council confirmation, the bidding threshold amount shall be the adjusted figure; and
WHEREAS, the Engineering New Record Construction Cost Index was 10703 for June 2017 and the bidding threshold was set at $32,267; and
WHEREAS, the Engineering New Record Construction Cost Index is 11068 for June 2018 representing a 3.41% increase, and raising the bidding threshold to $33.367; and
WHEREAS, on June 25, 2018, the City Council held a duly noticed public hearing regarding the proposed adjustment to the bidding threshold; THE SEAL BEACH CITY COUNCIL HEREBY RESOLVES AS FOLLOWS:
The City Council finds all facts stated in the above recitals are true and correct and hereby confirms the adjustment of the bidding threshold amount to $33,367 as required by City Charter Section 1010. PASSED, APPROVED and ADOPTED by the Seal Beach City Council at a regular meeting held on the 23rd day of July, 2018.