WHEREAS, the Borough of Madison publicly advertised for bids for the improvements to Kings Road/Green Avenue intersection in accordance with the Local Public Contracts Law, N.J.S.A. 40A:11-1, et seq.; and

WHEREAS, the lowest bid was submitted by Faigon Electric, Inc. in the amount of $250,192.75; and

WHEREAS, the Borough Engineer has recommended that the Borough Council award the contract to Faigon Electric, Inc. in the amount of $250,192.75; and

WHEREAS, the Director of Finance has attested that funds will be available in an amount not to exceed $250,192.75 for this purpose.

NOW, THEREFORE, BE IT RESOLVED by the Council of the Borough of Madison, in the County of Morris and State of New Jersey, as follows:

1. The contract for Kings Road/Green Avenue Intersection Improvements is hereby awarded to Faigon Electric, Inc. based upon its bid in the amount of $250,192.75.

2. The Mayor and Borough Clerk are hereby authorized and directed on behalf of the Borough to enter into the contract with Faigon Electric, Inc. in a form acceptable to the Borough Attorney.

August 23, 1999

GARY E. RUCKELSHAUS, Mayor

Attest:

_____________________________

MARILYN SCHAEFER, Borough Clerk