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Minutes of the Regular Meeting of Council August 28, 2006 Page 22 Dr. Parker asked that if we decided that was outside of our budget, we cannot alter our contract? Mr. Diemert indicated that he would have to look at the contract to see if there is an escape clause in it. Has there been any action towards the contract? Mr. Cappello responded right now, no. He is concentrating on the sewer portion of the project on MetroPark and Zorn. Mr. Diemert indicated that we would have to determine whether or not we can revote that portion of the contract. Mr. Diemert asked if they have someone working with them on a regular basis. Mr. Cappello said that he does. Mr. Saponaro asked for clarification, adding that we as a Council approved this project. We are now sitting here talking about how we are going to finance the project. Mr. Diemert indicated that several members of Council are rethinking whether or not they want to rescind the approval. Mr. Saponaro wanted to make sure that we already approved this project. We went out to contract stage and out to bids and have done everything. Now all we are looking at here is paying for it and how we are going to do that. Dr. Parker indicated that we are looking at more than that. Mr. Saponaro stated that we are not in this Ordinance. It would be brought up on the floor as more than that. This Ordinance is just about financing it. What is being brought up is did we approve it? Are we still happy with the approval we gave initially? Mr. Buckholtz indicated that there are no intentions of ill-will towards the project. The questions raised tonight are logical and reasonable. Mr. Buckholtz suggested either we vote to put this bond into effect and then look at some new estimates and negotiate with the contractor. If we get $1,000,000.00 with this language in there and negotiate with the contractor and decide to do the project a different way, is that legal? Mr. Brett indicated that it was not. Mr. Buckholtz clarified the two options: one, not to approve this money and try to find money elsewhere to pay for the project or negotiate with the contractor on rescinding or altering the contract. That would be one way to approach this. The other would be passing the bonds and going out for bid but still getting some other numbers and evaluating if this is our best way to go to proceed with the contract. Mr. Brett stated that there was one commitment with awarding the contract. This commitment is even more so. You can go back to the contractor and negotiate whether you can treat that as a deduct. You cannot go back to the bond sellers and say we changed our mind by the way. We can't use it for anything else. Mr. Diemert indicated that once we issue the bonds, we have to take the money. Dr. Parker asked why we can't look into the contract and see what we can do and if we have to schedule a short special meeting, we can do that.