18-2023 - Amend bidding and BOC ordinances to align with ORC

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DocuSign Envelope ID: 958301 B1-7B8D-416B-82BA-4C4FCA5A4B47 such work or material, or either, more than the agreed price. Alterations and modifications to contracts may be made without advertising and competitive bidding. (e) The unit or lump sum price stated in the contract shall be used in determining the amount to be paid and shall constitute full and final compensation for all the work. Partial payment to the contractor for work performed under the lump sum price shall be based on a well-balanced schedule prepared by the contractor and approved by the Awarding Authority or his designee who shall apportion the lump sum price to the principal features entering into or forming a part of the work under the lump sum price. Partial payment to the contractor for labor performed under either a unit or lump sum price contract shall be made at the rate of ninety percent (90%) of the estimates prepared by the contractor and approved by the Awarding Authority, provided that all labor performed after the job is fifty percent (50%) completed, shall be paid for at the rate of one hundred percent (100%) of the estimates submitted by the contractor and approved by the Awarding Authority. (f) At the time named in the contract for payment to the person, firm, corporation, partnership or association with whom or with which it is made, the Awarding Authority or his designee shall make a full, accurate, and detailed estimate of the various kinds of labor performed and materials furnished under the contract, with the amount due for each kind of labor and material and the amount due in the aggregate. The estimate shall be based upon the actual measurement of such labor and materials, and shall give the amounts of preceding estimate and the amount of labor performed and materials furnished since the last estimate. From the date of completion or either acceptance or occupancy by the City, a sufficient amount shall be retained as additional security for ninety days for the faithful performance of the contract, after which time if the contract has been faithfully performed nothing shall be retained. (g) The estimates referred to in subsection (f) hereof shall be filed by the Awarding Authority and a certified copy thereof delivered to the Director of Finance. Unless otherwise provided in the contract or other documents incorporated into the contract, all material and equipment shall become the property of the City upon its installation or when it otherwise becomes a part of the building, construction, alteration, addition or other improvement, provided that the City reserves all of its rights and remedies against the contractor or material provider under the contract and applicable law. All materials furnished and delivered after the job is fifty percent (50%) completed shall be paid for at the rate of ninety percent (90%) of the invoice value of the materials. The balance of such estimate shall be paid when the material is incorporated into and becomes a part of the building, construction, addition, improvement, alteration, or installation, unless the contractor does not prosecute the work with diligence and as specified or intended in the contract. When the rate of work and amounts involved are so large that it is deemed advisable by the Awarding Authority, estimates and payments shall be made twice each month. (h) The general laws of Ohio pertaining to the State's prevailing wage law shall be applicable under this section.