The contractor shall well, truly and promptly pay or satisfy the just and equitable claims of all persons who have performed labor or furnished material for the contractor in the execution of the contract, including those who have previously filed attested account of such claims with the Director of Finance, and all bills, costs or claims of whatever kind which might in law or equity become a lien upon the work or against the fund from which the same is to be paid or a charge against the City. In case the attested accounts, claims, bills or costs are not paid or adjusted to the satisfaction of the Director, then the City may proceed as follows:
The City may retain out of any moneys at any time due the contractor a sum sufficient to pay all persons who have done work or furnished labor or materials for the work contracted for, and who have filed an attested account of such claim with the Director within four (4) months from the performance of labor or the delivery of materials, stating that any balance for work or materials is still due and unpaid, which amount may be retained by the City until satisfactory evidence is furnished to the Director that the balance has been fully paid. If the evidence is not furnished before the next estimate becoming due to the contractor under the contract, the Director may pay the balance to the person claiming it and charge such payment to the contractor as payment on the contract, unless the contractor has previously filed with the Director written notice that such claim is in dispute. In the event of such dispute, the City will retain the amount until the claim has been adjusted or the money paid into court on proceedings in the nature of an interpleader.
(Ord. No. 1236-60. Passed 6-20-60, eff. 6-22-60)