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Home My WebLink About1983-2666 A RETAINED PERCENTAGE FUND APPLICABLE TO PUBLIC IMPROVEMENT CONTRACTS 0 ORDINANCE NO, 26 6 6 AN ORDINANCE relating to local government administration; providing for a retained percentage fund applicable W to public improvement contracts; and amending Section 1.78.010 of the City of Yakima Municipal Code. BE IT ORDAINED BY THE CITY OF YAKIMA: Section 1. Section 1.78.010 of the City of Yakima Municipal Code is hereby amended to read as follows: "1.78.010 Retained percentage. All contracts for public improvements or work, by the City of Yakima shall, provide that there shall be reserved from the money earned by the contractor on estimates during the progress of the improvement or work, an amount equal to five percent of such estimate, the amount to be retained by the city as a trust fund for the protection and payment of any person 111 or persons, mechanic, subcontractor or materialman who shall perform any labor upon such contract or the doing of said work, and all persons who shall supply such person or persons or subcontractors with provisions and supplies for the carrying on of such work, and the state with respect to taxes imposed pursuant to R.C.W. 82 which may be due from such contractor. The fund shall be retained for a period of thirty days following the final acceptance of the improvement or work as completed, and no work or improvement shall be deemed completed until the City Council shall so declare and accept the same by motion or resolution; provided, that the City Council at any time after fifty percent of the original contract work has been completed, if the Council finds that satisfactory . progress is being made, may make any of the subsequent partial payments in full." Section 2. This ordinance shall be in full force and effect thirty days after its passage, approval and publication 0 as provided by law and by the City Charter. PASSED BY THE CITY COUNCIL, signed and approved this day of 11 1, , 1983. \ 4• 4111g ea • Mayor ATTEST: (W City Clerk `_ '----- —' --''---~~ ,rtori^mx^u^^r4 L.mv IYmL, I...m^^/o ' I . • D ayer`,ho has ro��0�NN�iounydty or town *bor �he taxpayer main- taxpayer an office or terminal, or in the case of a taxpayer who has paid a U' the lien of such claimant shall be given in the manner and within the time ` ccnmc fee or tax based on such gross receipts to any city or town levying ^ provided in RCW 30.08.030 as now existing and in accordance with any | ' �� } sume which may reasonably be construed to be the principal market of th • - ame ndments that may hereafter be made thereto: PROVIDED FURTHER, taxpayer but in which he maintains noo��cunr terminal. .. � u� � � our That h board, council, commission, trustees, i i � o� o officer or body acting for the y4BTy SECTION. Sec. 4. This act applies to motor carriers of freight ', sm»u.county oc municipubtyorother public body; (a) at any time after fifty , ' for hire only. Nothing in this act applies to a person engaged in the business .� percent of the original contract work has been compl��d. if it finds that � | of making sales at retail or wholesale or of providing storage services for -,- satisfactory progress is being mude, may make any of the partial payments . . tangible pemnnu|property. }. which would otherwise be subsequently made in full; but in no event shall ' the amount to be retained be reduced to less than five percent of the amount ' Passcd the House February 15, 1982, � of the moneys earned by the contractor: PROVIDED, That the contractor Passed the Senate March 7 l98Z ' ' Approved 6v the Governor ' i| ' 1982. ----may request that retainage be reduced to one hundred percent of the value . | | Office of Secreta April / t ' April 1, 1982. ! of the work remaining on the protect; and (b) thirty days after completion � ' � and acceptance of all contract work other than landscaping, may release • '._ • , ' _ and pay in full retaiperformance � the amounts retained during the performance of the contract ' (other than continuing retention of five percent of the moneys earned for , i | ! . CHAPTER 170 ` landscaping) subject to provisions 60.28.020. ' '' '' [Substitute House Bill No. 931) . (2) The moneys reserved under the provisions of subsection (1) of this | ' PUBLIC WORKS CONTRACTS RETAINED npsocswTAos---emwo--- � | i NOTICE oFcnmpLcTmN COMPLETION—FUNDS ^ � section, on. at the option of the contructur, shall be: • --- (a) Retained in a fund by the public body until thirty days [oUowinAthe . AN ACT Relating m ,opubworks; on,� amending section �inx section 14, chapter �»u 260, Laws of 1981 and • , / mcwou amending mwon 5, chapter 236, Laws n of | amended final acceptance of said improvement or work as completed; ((or)) ' , �m 3. �u m, Laws of 1970 ex. m�� and �ncvvmzzun5o amending ��n'3. ' (b) Deposited by the public body in an interest bearing account in a � — � chapter 62, �uw" m[ /v7� |u *x� �� mm nCw mu�mxxo mm �vmo �w�o /. hunk, mutual savings bunk, or savings and loan association, not subject to chapter 91, Laws of 1957, section 26, chapter 26, Laws of |vo7uc�o section 2, chap- ` -`' ter 151, RCW sess., ' withdrawal until after the final acceptance of said improvement or work as mmp|c�cd or to parties: PROVIDED, ' Be it enacted by the Legislature n[th* Stumo[�Yuobington: ' ' � Tbut interest on � • such account xhxU be paid to the contractor; / Section 1. Scction 14, chapter 260. Laws of 1981 and RCW 60.28.010 (c) Placed in escrow with a bank or trust company by the public body are cach amended torcud as follows: � until thirty days following the final acceptance of said improvcment or work , (|) Contracts for public improvements or wnrk, other than for profes- as completed. When the moneys reserved are to be placed in oucnnw, the sional xrr"icca, by the otuto, or any county, city, tn*n, district, bnurd, or public body shall issue a check representing the sum of moneys reserved • other public body, herein referred to as "public body^ shall provide, and ' Such chcck ` ' ' payable to the bank or trust company and the oun�ruc�orjointly. uc c oc . there shall be reserved by the public body from the moneys earned by the shall be converted into bonds and securities chosen by the contractor and ' contractor on estimates during the progress o['tho improvement or work, a approved by the public body and such bonds and securities shall be held in ! Sum ((‘-q"^| t" L" y`.0.-"t "[ H.` C.A linc !wild, `d Umu"^"d`�lf�^ =d)) escrow. Interest on such bonds and securities shall be paid to the contractor ' not to exceed five percent (( . ' .. " " . . " *, • • • ' as the said interest accrucs. # |^.� �� ^" `�. `, ��."^^'n)) said sum to be rctaincd by the state, county, 6�y. hco withhold of not morc ' ' ' ' ( The coo�uckxorou n� payment ' town, district, board, or body, as trust fund for �h protection - ' ` ' ' » r cPr»cc than five percent from the moneys earned by any subcontractor or sub- ..._ and payment of any person or pcmons, m*chznic, subcontractor or mutori' subcontract xurou" lier contracted with b e contractor to ^r»vid» labor, � u|mun who shall perform any labor upon such contract or �hcdoinA o[»oid , materials, or c"ui,munt to thc "ub|icno'mz. Whenever the contractor or work, and all persons who shall supply such person or persons or subcon- subcontractor earned by a or sub-xuhc»»�r»c tractors with provisions and supplies for the carrying on of such work, and ' h with ` m' or o uop|\or �h� contractor or subcontractor shall pay interest to the the state *`th respect to taxes imposed pursuant to Title 82 RCW which ----- ' | that subcontractor or sub-subcontractor or supplier at a rate equal to � u rc- may be due from such contractor. Every person performing labor or fur- the contractor or subcontractor from reserved funds. nishing supplies toward the completion of said improvement or work shall .