Texas Auxiliary Water Laws - Article 7855. Contract: Payment
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Art. 7855. CONTRACT: PAYMENT. (a) The District shall pay
the contract price of such contracts as hereinafter provided:
(b) The directors shall draw a voucher on the District
depository for the amount of any payments in favor of the contractor
or his assignee. Said vouchers shall be paid out of the
Construction and Maintenance Fund. The District will make progress
payments monthly as the work proceeds, or at more frequent
intervals as determined by the district engineer, on estimates
approved by the district engineer. If requested by the district
engineer, the contractor shall furnish a breakdown of the total
contract price showing the amount included therein for each
principal category of the work, in such detail as requested, to
provide a basis for determining progress payments. In the
preparation of estimates the district engineer, at his discretion,
may authorize material delivered on the site and preparatory work
done to be taken into consideration. Material delivered to the
contractor at locations other than the site may also be taken into
consideration (1) if such consideration is specifically authorized
by the contract and (2) if the contractor furnishes satisfactory
evidence that he has acquired title to such material and that it
will be utilized on the work covered by this contract.
(c) In making such progress payments, there shall be
retained 10 percent of the estimated amount until final completion
and acceptance of the contract work. However, if the directors, at
any time after 50 percent of the work has been completed, find that
satisfactory progress is being made, they may authorize any of the
remaining progress payments to be made in full. Also, whenever the
work is substantially complete, the directors, if they consider the
amount retained to be in excess of the amount adequate for the
protection of the district, at their discretion, may release to the
contractor all or a portion of such excess amount. Furthermore, on
completion and acceptance of each separate project, public work, or
other division of the contract, on which the price is stated
separately in the contract, payment may be made therefor without
retention of a percentage.
Acts 1918, 35th Leg., 4th C.S., p. 74, ch. 43; Acts 1971, 62nd Leg.,
p. 2775, ch. 899, Sec. 1, eff. June 14, 1971.
Article: 7849 7849a 7850 7851 7852 7853 7854 7855 7856 7857 7858 7859 7860 7861 7862
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Last modified: August 10, 2007
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