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Approval of Increase to Price Agreement Contract Cap with Summit Electric Supply. Providing Electrical supplies
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The Albuquerque Bernalillo County Water Utility Authority (Water Authority) hereby request an increase to the price agreement cap with Summit Electrical Supply for electrical supplies to $750,000.00.
Resolution R-18-14 requires board approval for any purchase in an amount exceeding $500,000.
If approved by the Board, the Water Authority will issue an amended price agreement to enable Summit Electrical Supply to continue to provide electrical supplies. This price agreement has been in place since October 31, 2023, and covers critical items needed for various departments across the Water Authority. Approval of this item shall also serve as delegation of authority for the Executive Director to approve all future amendments to this contract if required.
FISCAL IMPACT:
The requested increase of $250,000.00 will increase the total contract amount to $750,000.00 for the term of October 31,2023 through April 26, 2026. The Water Authority has budgeted funds to cover this agreement.