§ 401. Payment to contractor.

When the cost of a public improvement contract is to be paid in special tax bills, improvement bonds or tax warrants, the contractor shall be paid the total amount of the cost of the contract by the delivery of the tax bills, improvement bonds or tax warrants to the contractor; provided, however, that before the delivery of such bills, bonds or warrants, the contractor shall pay to the City, in cash, an amount equal to the sum of the costs and fees paid or to be paid by the City which are chargeable to that improvement.

(Ord. No. 17285)