(a) Partial payments may be made to contractors constructing public improvements as the work progresses. Such payments shall be made not more frequently than monthly and shall be based upon estimates, approved by the proper City officer, of the amount of work done, including both labor and materials incorporated in the work since the last partial payment, if any. Payments may also be made for equipment and materials purchased by the contractor for the improvement and stored on the site or in some other place approved by the proper City officer, but the cost of any equipment or materials so paid for shall not be included in any subsequent partial payment.
Not more than ten percent (10%) of any partial payment authorized herein may be withheld pending completion of the improvement and acceptance thereof by the City, before the full payment due the contractor, less the amount of partial payments made, if any, shall be paid. If the improvement is not accept in toto and unqualifiedly, there may be retained from the final payment an amount sufficient to guarantee, in the opinion of the proper City officer, the completion of any work undone or the satisfaction of any work or equipment which has not been unqualifiedly accepted.
(b) The provisions of Ohio R.C. 153.13 et seq are hereby declared inoperative with respect to contracts of the City. (Ord. 782-1964. Passed 7-20-64.)