The scheduled time, rate, amount and manner of payments 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 the provisions of Ohio R.C. 735.071 to 735.074, inclusive. It is the intention of Council that the provisions of this chapter shall supersede and shall be in lieu of and exclusive of the provisions of such sections of the Ohio Revised Code. (Ord. 1960-53. Passed 6-13-60.)