(a) The provisions of Ohio R.C. 153.13 shall be incorporated in municipal contracts for the improvement of City property wherein the contract dollar volume is more than five hundred thousand dollars ($500,000) and the contract is not expected to be completed within 120 days, or where the anticipated earnings for an escrow agreement are expected to be less than the costs to establish and administer the escrow agreement, as determined by the Director of Finance.
(b) The forms necessary to incorporate such provision shall be included in the various bid specifications promulgated from time to time in the form now on file with the City Engineer.
(Ord. 1989-38. Passed 2-7-89.)
(Ord. 1989-38. Passed 2-7-89.)