(a) All Contracts shall provide that in the event the Director finds that a Contractor has failed to file an affidavit as required by Section 12Y.4(a), or has willfully filed a false affidavit, the Contractor shall be liable for liquidated damages for each Contract in an amount equal to the Contractor's net profit on the Contract, 10 percent of the total amount of the Contract, or $1,000.00, whichever is greatest, as determined by the Director. All Contracts shall also contain a provision in which the Contractor acknowledges and agrees that the liquidated damages assessed shall be payable to the City upon demand and may be set off against any monies due to the Contractor from any Contract with the City.
(b) All Contracts shall require Contractors to maintain records necessary for monitoring their compliance with this Ordinance.
(Added by Ord. 275-06, File No. 060396, App. 11/17/2006)