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University Drive Paving Complete

Posted 11/27/18

McKENZIE — University Drive in McKenzie is providing a much smoother ride for vehicles. Leveling and an estimated 2,600 tons of asphalt for a two-inch thick surface layer made the one-time …

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University Drive Paving Complete

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McKENZIE — University Drive in McKenzie is providing a much smoother ride for vehicles. Leveling and an estimated 2,600 tons of asphalt for a two-inch thick surface layer made the one-time rough and ragged 7,900-foot long roadway sleek and pristine.
Arrow Paving Company, Inc. of Lexington, Tenn. was awarded the contract following a bid of $94.80 a ton for the asphalt.
Public Works Director Johnny Mercer requested bids to be by the ton, not the completed job. Any asphalt remaining after the completion of the project will be applied to city streets in need of repairs and patching.
The council authorized the issuance of an interest bearing general obligation capital outlay note of $350,000 for the paving project and other street repairs within the city limits. The authorization was for a five-year 3.875 percent bond through the Tennessee Municipal Bond Fund. The bond would cost the city $40,480.20 in interest totaling the expense to $380,480.20 over the five-year term.

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