Partial payments may be made on any contract for highway improvement under the provisions of this act, as the work progresses. Progress estimates shall be based on materials in place and labor expended thereon, but no more than ninety-five percent of the contract price of the work shall be paid in advance of the full completion of such contract and its acceptance by the state highway engineer. The state and county shall each pay its proportionate share of such partial payments on the certification of the amount thereof by the state highway engineer.
History: Laws 1917, ch. 38, § 11; C.S. 1929, § 64-312; 1941 Comp., § 58-237; 1953 Comp., § 55-2-37; Laws 1975, ch. 266, § 1.
ANNOTATIONSMeaning of "this act". — The term "this act" refers to Laws 1917, ch. 38, the provisions of which are presently compiled as 67-3-9 to 67-3-11, 67-3-24, 67-3-26, 67-3-31, 67-3-33, 67-3-41 to 67-3-43, 67-3-47, 67-3-48, and 67-4-17.
Limitation on advancement. — Even though the contractor cannot finish job because of conditions completely beyond his control, such as nondelivery of steel to the state necessary to complete the project, commission may not advance more than 85% (now 95%) of the contract price. 1947 Op. Att'y Gen. No. 47-5116.
Effect of claim by judgment creditor on final proceedings. — No payment of the retainage and no final settlement can be made where a creditor, who has a disputed claim upon which suit has been brought, has pursued the case to judgment in the state court. 1951 Op. Att'y Gen. No. 51-5395.