Document:

<PAGE>

                                                                  EXHIBIT 10.114

                              CONTRACT AGREEMENT

THIS AGREEMENT, made and entered into this 30th day of December, 1999 by and
                                           ----        --------------
between the FLOOD CONTROL DISTRICT OF MARICOPA COUNTY, hereinafter called the
Owner, acting by and through its BOARD OF DIRECTORS, and Meadow Valley
                                                         -------------
Contractors, Inc., hereinafter called the Contractor.
-----------------

WITNESSETH:  That the said Contractor, for and in the consideration of the sum
of thirteen million, thirty-seven thousand, seven hundred forty-one dollars
---------------------------------------------------------------------------
($13,037,741.00) to be paid to him by the Owner, in the manner and at the times
---------------
hereinafter provided, and of the other covenants and agreements herein
contained, hereby agrees for himself, heirs, executors, administrators,
successors, and assigns as follows:

     ARTICLE I - SCOPE OF WORK: THE Contractor shall construct, and complete in
a workmanlike and substantial manner and to the satisfaction of the Chief
                                                                    -----
Engineer and General Manager, a project for the Flood Control District of
----------------------------                    -------------------------
Maricopa County, designated as Contract FCD 99-05 - Phase 3 of the Santa
---------------                -----------------------------------------
Collector Channel Project, and furnish at its own cost and expense all
-------------------------
necessary machinery, equipment, tools, apparatus, materials, and labor to
complete the work in the most substantial and workmanlike manner according to
the Plans and Construction Specifications on file with the Flood Control
                                                           -------------
District of Maricopa County, 2801 West Durango Street, Phoenix, Arizona, and
-----------------------------------------------------------------------
such modifications of the same and other directions that may be made by the
Flood Control District of Maricopa County as provided herein.
-----------------------------------------

     ARTICLE II - CONTRACT DOCUMENTS: The Construction Specifications, i.e.
Invitation to Bid, Plans, Standard Specifications and Details, Supplementary
General Conditions, Special Provisions, Addenda, if any, Proposal, Affidavits,
Performance Bond, Payment Bond, Certificates of Insurance, and Change Orders, if
any, are by this reference made a part of this Contract and shall have the same
effect as though all of the same were fully inserted herein.

     ARTICLE III - TIME OF COMPLETION: The Contractor further covenants and
agrees at its own proper cost and expense, to do all work as aforesaid for the
construction of said improvements and to completely construct the same and
install the material therein, as called for by this agreement free and clear of
all claims, liens, and charges whatsoever, in the manner and under the
conditions specified within three hundred sixty-five (365) calendar days
following notice to proceed.

     ARTICLE IV - PAYMENTS: For and in consideration of the faithful performance
of the work herein embraced as set forth in the Contract Documents, which are a
part hereof and in accordance with the directions of the Owner, through its
Engineer and to its satisfaction, the Owner agrees to pay the said Contractor
the amount earned, computed from actual quantities of work performed and
accepted or materials furnished at the unit bid price on the Proposal made a
part hereof, and to make such payment in accordance with the requirements of
A.R.S. Section 34-221, as amended. The Contractor agrees to discharge its
obligations and make payments to its subcontractors and suppliers in accordance
with A.R.S. Section 34-221.

                                                                   Page 20 of 29
<PAGE>

     ARTICLE V - TERMINATION: The Owner hereby gives notice that pursuant to
A.R.S. Section 38-511(A) this contract may be canceled without penalty or
further obligation within three years after execution if any person
significantly involved in initiation, negotiation, securing, drafting or
creating a contract on behalf of the Owner is, at any time while the contract or
any extension of the contract is in effect, an employee or agent of any other
party to the contract in any capacity or a consultant to any other party of the
contract with respect to the subject matter of the contract. Cancellation under
this section shall be effective when written notice from the Chief Engineer and
General Manager of the Owner is received by all of the parties to the contract.
In addition, the Owner may recoup any fee for commission paid or due to any
person significantly involved in initiation, negotiation, securing, drafting or
creating the contract on behalf of the Owner from any other party to the
contract arising as a result of the contract.

     ARTICLE VI - NEGOTIATION CLAUSE: Recovery of damages related to expenses
incurred by the Contractor for a delay for which the Owner is responsible, which
is unreasonable under the circumstances and which was not within the
contemplation of the parties to the contract, shall be negotiated between the
Contractor and the Owner. This provision shall be construed so as to give full
effect to any provision in the contract which requires notice of delays,
provides for arbitration or other procedure for settlement or provides for
liquidated damages.

     ARTICLE VII - COMPLIANCE WITH LAWS: The Contractor is required to comply
with all Federal, State and local ordinances and regulation. The Contractor's
signature on this contract certifies compliance with the provisions of the I-9
requirements of the Immigration Reform Control Act of 1986 for all personnel
that the Contractor and any subcontractors employ to complete this project. It
is understood that the Owner shall conduct itself in accordance with the
provisions of the Maricopa County Procurement Code.

     ARTICLE VIII - MBE/WBE PROGRAM: The Owner will endeavor to ensure in every
way possible that minority and women-owned business enterprises shall have every
opportunity to participate in providing professional services, purchased goods,
and contractual services to the Owner without being discriminated against on the
grounds of race, religion, sex, age, disability, or national origin. The City of
Phoenix and Maricopa County Minority, Woman and Disadvantaged Business
Enterprise Program is incorporated by reference.

     ARTICLE IX - ANTI-DISCRIMINATION PROVISION: The Contractor agrees not to
discriminate against any employee or applicant for employment because of race,
religion, color, sex, national origin, age, or disability and further agrees not
to engage in any unlawful employment practices. The Contractor further agrees to
insert the foregoing provision in all subcontracts hereunder.

                                                                   Page 21 of 29
<PAGE>

     IN WITNESS WHEREOF: Five (5) identical counterparts of this Contract, each
of which shall for all purposes be deemed an original thereof, have been duly
executed by the parties hereinabove named, on the date and year first above
written.

Meadow Valley Contractors, Inc.
--------------------------------------
Party of the First Part

By /s/ Bradley E. Larson
   -----------------------------------
   (Printed Name)     (Signature)

Title: BRADLEY E. LARSON PRESIDENT
       -------------------------------

Date: 12/17/99
      --------------------------------
         07334324-B
--------------------------------------
Tax Identification Number

                   FLOOD CONTROL DISTRICT OF MARICOPA COUNTY
                           PARTY OF THE SECOND PART
<TABLE>
<S>                                                        <C>
RECOMMENDED BY:

/s/ [ILLEGIBLE]^^                      12/24/99           By: /s/ [ILLEGIBLE]^^           12/30/99
-------------------------------------------------          ----------------------------------------
Chief Engineer and General Manager          Date                Chairman, Board of Directors   Date
Flood Control District of Maricopa County

                                                           ATTEST:

                                                           /s/ [ILLEGIBLE]^^                 12/30/99
                                                           ------------------------------------------
                                                           Clerk of the Board 072699           Date
</TABLE>

LEGAL REVIEW
------------

Approved as to form and within the
powers and authority granted under
the laws of the State of Arizona to
the Flood Control District.

By: /s/ Julie M. Lemmon      12/23/99
   ----------------------------------
   District, General Counsel  Date

                                                                 Page 22 of 29<PAGE>
                                                                  EXHIBIT 10.115

                      JOHNSON AND DANLEY CONSTRUCTION CO.
                             SUBCONTRACT AGREEMENT

                                                         Subcontract No. 9924-01

SUBCONTRACTOR:      MEADOW VALLEY CONTRACTORS, INC.
                    PO BOX 60726
                    PHOENIX, AZ 85082-0726
                    TELEPHONE: (602) 437-4111
                    FAX:       (602) 437-4114

OWNER:              NEW MEXICO STATE HIGHWAY AND TRANSPORTATION DEPARTMENT

PROJECT:            ALAMOGORDO RELIEF ROUTE, PHASE II
                    NMSH&TD PROJECT NO. SP-4916(202)
                    NMSH&TD CONTROL NO. 3650
                    J & D PROJECT NO. 9924

SUBCONTRACTORS' NEW MEXICO CONTRACTOR'S LICENSE NO. 068526

     In consideration of the mutual promises made herein this 14/th/ day of
July, 1999, Johnson & Danley Construction Co. ("Contractor"), and Meadow Valley
Contractors, Inc. ("Subcontractor"), a corporation enter into this agreement
(the "Subcontract") and agree as follows:

     1.   Contract Documents.
          ------------------

     1.1  As used herein, the term "Contract Documents" shall refer to and
include this Subcontract and its exhibits, the terms and conditions of the
contract between the Contractor and the Owner (the "Prime Contract") along with
the drawings, standard specifications, supplementary and special provisions,
Contractor's Project schedule, and all addenda, amendments or modifications
thereto, the invitation and instruction to bidders, and all other exhibits or
documents that form or are made a part of the Prime Contract. The parties agree
that the Contract Documents are incorporated herein by reference.

     1.2  Subcontractor represents and warrants that it (1) has carefully
examined and understands the Contract Documents, (2) is familiar with the
conditions and circumstances under which its work will be performed, and (3) is
in no way relying upon any opinion or representation of Contractor.

     1.3  Subcontractor agrees to comply with and be bound to Contractor by the
terms of the Contract Documents and to assume toward Contractor all the duties
and obligations that Contractor assumes in the Contract Documents toward the
Owner. In case of conflicts or inconsistencies between this Subcontract and the
other Contract Documents, the Subcontract shall control. Subcontractor shall
bind lower tier subcontractors and suppliers to full compliance with the
Contract Documents.

                                       1
<PAGE>

     17.  Miscellaneous.
          -------------

     17.1 In the event Subcontractor rents, borrows, or otherwise uses any of
Contractor's equipment, scaffolding, or other appliances, Subcontractor agrees
to accept such items "as is." Any such use shall be at the sole risk of
Subcontractor, who hereby agrees to defend, hold harmless and indemnify
Contractor against any and all claims, losses, or damages arising from such use.

     17.2 Subcontractor shall have available at the job site a supervisory and
authorized representative whose qualifications and attendance at the Project
site shall be subject to review by the Contractor. Failure to comply with this
requirement shall be sufficient grounds for withholding monies due Subcontractor
until a qualified supervisor is made available.

     17.3 At no time prior to the expiration of any warranty period required by
the Contract Documents shall Subcontractor perform any work directly for or deal
directly with the Owner or its representatives concerning the Project unless
otherwise directed in writing by Contractor.

     17.4 Contractor's waiver of any of the provisions of the Subcontract, or
Contractor's failure to exercise any options or legal remedies provided herein,
shall not be construed as a general waiver of its right thereafter to require
such compliance or to exercise such option or remedy.

     17.5 This Subcontract constitutes the entire agreement between the parties
and supersedes all prior proposals, negotiations and agreements. If any
provision of this agreement is found to be invalid or otherwise unenforceable,
then the remaining provisions shall remain in full force and effect.

     17.6 To be effective, all modifications or amendments to the Subcontract
must be in writing.

     17.7 This agreement is not effective until signed by the Contractor and
delivered or mailed to Subcontractor.

     17.8 The Subcontract shall be construed and interpreted according to the
laws or the state where the Project is located.

     17.9 Initial project survey and staking will be provided by the contractor.
Any additional survey will be provided at the following rates: 2 person party -
$85.00 per hour, 3 person party - $ 10.00 per hour.

JOHNSON AND DANLEY CONSTRUCTION.        MEADOW VALLEY CONTRACTORS, INC

By /s/ Joel Danley                      By /s/ Samuel J. Grasmick
  ------------------------------          --------------------------------------

Title  President                        Title  Area Manager
      --------------------------              ----------------------------------

Date  7/28/99                           Date  7/14/99
     ---------------------------             -----------------------------------

                                      11
<PAGE>

                                   MVCI(SUB)

PROJECT:        ALAMOGORDO RELIEF ROUTE - PHASE 2
                SP-4916 (202): CN 3650
                OTERO COUNTY, NEW MEXICO                        PROJECT NO. 9924
OWNER:          NMSH&TD

SUBCONTRACTOR:  MEADOW VALLEY CONTRACTORS, INC.
                P.O. BOX 60726
                PHOENIX, ARIZONA 85082-4119

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------
     BID                                                              UNIT
     ITEM        DESCRIPTION                         QUANTITY   UNIT  PRICE       AMOUNT
----------------------------------------------------------------------------------------------
     <S>      <C>                                    <C>        <C>   <C>         <C>
       203011 ENVIRONMENT MONITOR'G                       1.00   LS     9,000.00      9,000.00
      511000A RDWY STR. CONC. CL.A                    1,212.00   CY       260.00    315,120.00
       511700 REINF.CONC.MINOR STR.                      19.00   CY       550.00     10,450.00
       540200 WELDED WIRE FABRIC                     24,980.00   LB         1.05     26,229.00
       541200 STR.STL FOR MISC STR.                   7,814.00   LB         2.50     19,535.00
       601000 REM.STR. & OBSTR'NS                         1.00   LS    23,900.00     23,900.00
       618000 TRAFF.CONTROL MGMT                          1.00   LS    95,000.00     95,000.00
       620001 NOXIOUS WEED MGMT                           1.00   LS    22,300.00     22,300.00
       621100 CONTRACTOR QC                               1.00   LS    92,000.00     92,000.00
       622002 T2 FIELD LAB                                1.00   EA    25,000.00     25,000.00
       622100 SUPPL. FIELD LAB                            1.00   EA     5,252.25      5,252.25
       622110 SUPERPAVE FIELD LAB                         1.00   EA    25,000.00     25,000.00
       702238 8' BARRICADE                                8.00   EA       350.00      2,800.00
       702800 TRAFFIC CONTROL PLAN                        1.00   LS    25,000.00     25,000.00
       801000 CONSTRUCTION STAKING                        1.00   LS   125,000.00    125,000.00
       210000 BRIDGE EXCAV. & BKFL                    1,420.00   CY        20.00     28,400.00
       502400 SOIL BORINGS                              120.00   LF        55.00      6,600.00
       505000 X-HOLE SONIC LOGGING                       32.00   EA       800.00     25,600.00
       505010 LOW STRAIN INT.TESTING                      2.00   EA     3,200.00      6,400.00
       511000 STRUCT.CONC. CL.A                       3,062.00   CY       230.00    704,260.00
       511230 4" STRUCT.CONC. CL.B                    2,257.00   SY        38.00     85,766.00
       511300 SUBSTRUCT.CONC. CL.A                      382.00   CY       260.00     99,320.00
       511700 REINF.CONC. FOR MINOR                     107.00   CY       265.00     28,355.00
       512000 SUPERSTRUCT. CONC.                      1,123.00   CY       280.00    314,440.00
       513054 T54 PS BRIDGE MEMBER                    2,295.00   LF        13.00     29,835.00
       514032 32" BARRIER RAILING                       576.00   SF        43.00     24,768.00
       532100 ANTI-GRAFFITI COATING                   5,206.00   LB         2.10     10,932.60
       540200 WELDED WIRE FABRIC                      6,846.00   LB         0.60      4,107.60
       541000 STR.STL FOR BRIDGES                     9,048.00   LB         2.60     23,524.80
       562000 BRIDGE JT STRIP SL                        215.00   LF       105.00     22,575.00
       562100 T-A POLYMER BRIDGE JT                     274.00   LF        30.00      8,220.00
----------------------------------------------------------------------------------------------
                                                                                  2,244,690.25
                                                                                  ------------
</TABLE>

INCLUSIONS:     ALL ABOVE ENUMERATED WORK ITEMS COMPLETE, UNLESS SPECIFICALLY
                EXCLUDED BELOW.
EXCLUSIONS:     GROSS RECEIPTS TAXES AND BONDS.

                                  Page 1 of 1
<PAGE>

            New Mexico State Highway and Transportation Department
                       PERMISSION TO SUBCONTRACT REQUEST

                                                             No.   9924-01
                                                                 ---------------
                                                             Date  July 14, 1999
                                                                  --------------

I/We requested your permission to subcontract the work listed below in
connection with my/our

Project No.     SP-4916(202)                      Control No.    3650
           -------------------------------                   -------------------
to                     Meadow Valley Contractors, Inc.
   -----------------------------------------------------------------------------
whose address is       P0 Box 60726, Phoenix, AZ 85082
                 ---------------------------------------------------------------
whose license no. is   068526
                    ------------------------------------------------------------
and whose license classification is ____________________________________________
This subcontractor (a)    N/A     is (b)   N/A   is not (check (a) (b) as
                      -----------        -------
appropriate) a DBE Firm.

                           WORK TO BE SUBCONTRACTED

<TABLE>
<CAPTION>
                                                                                 Contract
  Item No.               Description                   Unit      Quantity       Unit Price     Amount
-------------------------------------------------------------------------------------------------------------
<S>            <C>                                <C>            <C>            <C>            <C>
-------------------------------------------------------------------------------------------------------------
               SEE ATTACHED SCOPE OF WORK
-------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------
                                                  TOTAL SUBCONTRACTED AMT                 $ 2,244,690.25
                                                                                           ------------------
</TABLE>

This subcontracted amount is  18.1296  % of $ 12,381,289.00 the total contract
                             ---------       ---------------
amount.
<TABLE>
            <S>                                                    <C>
            Previous amount subcontracted under this contract...   $        0.00
                                                                    ---------------
            Total Amount subcontracted to date..................   $2,244,690.25
                                                                    ---------------
            Total % subcontracted to date.......................         18.1296  %
                                                                    ---------------
</TABLE>

I/We verify that the subcontractor has the appropriate license classification to
perform the work, certify that the same plans, specifications, special
provisions, and all other contract provisions are to apply to the work under the
subcontract as apply to the prime contract, and guarantee that they will be
observed and followed by the subcontractor.

Copies of the following documents are hereby attached to this application:
letters of consent from the bonding company; copy of subcontract; a copy of the
subcontractor's "wallet card" issued by the Construction and Industries Division
of the Regulation and Licensing Department; assignment of antitrust claims
signed by the subcontractor; Form No. A-571 previous performance certification
signed by the subcontractor; and if applicable, Form No. A585, DB-A1, Contract
Goal for Disadvantage Business in Highway Construction.

I/We certify that the following checked provisions are incorporated into the
subcontract and that the subcontractor has these provisions in his possession
with a signed original form of the subcontract.

<TABLE>
<S>                                         <C>                                              <C>
 * N/A    Form FHWA-1273 (rev.8-89)          * N/A    Requirement For Affirmative                X    NM Minimum wage rates
--------                                    --------                                         --------
 * N/A    Special Provision Specific                  Action to Ensure                                Decision No.  OT 99-1061A
--------                                                                                                           ------------
          EEO Resp.(23 U.S.C. 140)                    EEO (E.O. 11246)                           X    Wage Rates Notice to
                                                                                             --------
 * N/A    Std. EEO Const. Contract           * N/A    Notices to Prospective Fed. Aid                 Contractors
--------                                    --------
          Specification (E.0. 11246)                  Const. Contractors (9-18-75)               X    Special Provisions for
                                                                                             --------
 * N/A    Notice to contractors              * N/A    General wage decision, No.____________          submission of weekly payrolls
--------                                    --------
          modifying above item                 N/A    Special Provision for                      X    Special Provision for
                                            --------                                         --------
 * N/A    Training Special Provisions                 DBE participation                               Apprentices
--------
</TABLE>

*NOT REQUIRED ON 100% STATE FUNDED PROJECTS

I/We certify that the provisions checked above are in my/our possession and
attached to my/our copy of the subcontract.

<TABLE>
<S>                                            <C>                                                                 <C>
   Meadow Valley Contractors, Inc.                     /s/ Samuel J. Grasmick                                      7/14/99
------------------------------------------------------------------------------------------------------------------------------------
Name of Subcontracting Firm                   Signature and Title of Official from Subcontracting Firm              Date
</TABLE>

I/We certify this to be correct and agree to allow audit verification by the New
Mexico State Highway and Transportation Department

<TABLE>
<S>                                            <C>                                                                 <C>
   Johnson and Danley Construction Co.                 /s/ Joel Danley                                               7/28/99
------------------------------------------------------------------------------------------------------------------------------------
Name of Prime Contracting Firm                Signature and Title of Official from Prime Contracting Firm           Date
</TABLE>

RECOMMENDED:

__________________________________________
Project Manager                     Date

CONCURRED:                                   APPROVED:

________________________________________________________________________________
District Construction Engineer               District Engineer          Date

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