Any and all payments due or to become due the contractor, and all rights of the contractor to demand and receive such payments, shall be subject to all provisions of law relating to attested accounts of subcontractors, equipment men, material men, laborers or mechanics. The contractor shall well and truly pay or satisfy the just and equitable claims of all persons or corporations who or which have performed labor or furnished materials or equipment for the contractor in the execution of each such contract. He or she shall also pay or satisfy the just and equitable claims of all persons or corporations who or which have previously filed an attested account of any such claims with the Director of Finance and all bills, costs or claims of any kind which might become a liability, lien or charge against the Municipality.
If attested accounts are filed with the Municipality, the Municipality may retain out of the moneys due or to become due the contractor a sum sufficient to pay all such attested account claimants. If such accounts are not paid or adjusted to the satisfaction of the Municipality, the Municipality may retain all payments pursuant to this chapter and pursuant to the law of attested accounts.
(Ord. 2705. Passed 3-16-60.)