42-2941. CONTRACTORS’ BONDS. In case the whole or any portion of said improvements is let to any contractor, said commissioners shall require the said contractor to give bond equal to fifty per cent (50%) of the amount of the contract price of the whole, or of the portion of said works covered by said contract, with two (2) or more sureties to be approved by the board of commissioners of said drainage district, and running to said district as obligee therein, conditioned for the faithful and accurate performance of said contract by said contractor, his executors, administrators or assigns, according to the terms and conditions of said agreement and conditioned that said contractor, his executors, administrators or assigns, performing the whole or any portion of said work under contract of said original contractor shall pay or cause to be paid all just claims for all persons performing labor or rendering services in the construction of said work under contract of said original contractor shall pay or cause to be paid all just claims of all persons performing labor or rendering services in the construction of said work, or furnishing materials, merchandise or provisions of any kind or character used by said contractor or subcontractor, or any employee thereof in the construction of said improvements: provided further, that no sureties on said bonds shall be liable thereon for labor, materials or provisions unless the persons or corporations performing said labor and furnishing said materials, goods, wares, merchandise, and provisions, shall within ninety days after the completion of said improvements, file their claim, duly verified, that the amount is just and due and remains unpaid, with the board of commissioners of said drainage district: and, provided further, that said commissioners before advertising for bids for any work or improvement may by resolution provide that said original contractor shall pay or cause to be paid monthly all just claims for all persons performing labor or rendering services in the construction of said work, or furnishing materials, merchandise or provisions of any kind or character used by said contractor or subcontractor or any employee thereof in the construction of said improvements; and before any second or subsequent estimate is paid to the said contractor said payments as aforesaid shall be evidenced by signed vouchers or waivers, filed with the commissioners, and such other evidence by affidavit, or otherwise, as the commissioners may require, and in which event the bond required for the faithful and accurate performance of the contract shall be twenty-five per cent (25%) of the contract price, and in advertising for proposals for bids the said proposals shall set forth that the contract will be let in accordance with the terms of said resolution as to the amount of the bond and the requirement for the payment as aforesaid of all bills for labor, materials, goods, wares, merchandise and provisions, but failure to make monthly settlement of all accounts as herein provided shall not invalidate the bond so furnished by said contractor.
History:
[(42-2941) 1913, ch. 16, part of sec. 18, p. 58; reen. C.L. 168:38; am. 1919, ch. 183, sec. 9, p. 558; C.S., sec. 4532; I.C.A., sec. 41-2541.]