The scheduled time, rate, amount and manner of payments, including that of retainage, on all construction or improvement contracts or contracts contemplating performance in installments entered into by the City shall be in accordance with the provisions of this chapter, notwithstanding any provisions of Ohio Revised Code relating to such payments, including, but not limited to sections 735.071, to 735.074 and 153.12 to 153.14. Contractors will be required to provide surety bonds to the City in accordance with the provisions of this Chapter, notwithstanding any requirements of Ohio Revised Code section 153.54. It is the intention of Council that the provisions of this chapter shall supersede and be in lieu of the provisions of such sections of the Ohio Revised Code. (Ord. 1993-38. Passed 6-2-93.)