1984 City Charter - Laserfiche WebLink

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determines are not required to be retained to protect the City's interest in satisfactory completion of the contract. Failure to pay any amount due and payable under the terms of the contract within 30 days of a monthly estimate or 90 days after the final estimate of the amount earned shall obligate the City to pay to the contractor simple interest on the past due amount at an annual rate equal to the monthly index of long term Unity States bond yields for the month prior to the month in which this obligation is incurred plus an additional one percemt per annum. Interest shall not be imposed with respect to any amount which a City may legally withhold as a result of breach of contract or other contractual claim or if the delay is caused by the contractor. Subdivision 7. Modification of Contracts. After work has been commenced on am improvement undertaken pursuant to a contract awarded on a unit price basis, the Council may, without advertising for bids, authorize changes in the contract so as to include additional units of work at the same unit price if the cost of the additional work does not exceed 25 percent of the original contract price. Original contract price means that figure determined by multiplying the estimated number of units required by the unit price. APPOINTMENT OF COST The cost of any improvement, or any part thereof, may be assessed upon property benefited by the improvement, based upon the benefits received, whether or not the property abuts on the improvement is paid from the county-state aid highway fund, the municipal-state aid street fund or the trunk highway fund. The area assessed may be less than but may not exceed the area proposed to be assessed as stated in the notice of hearing on the improvement, except as provided below. The city may pay such portion of the cost of the improvement as the Council may determine from general ad valorem tax levies or from other revenues or funds of the city available for the purpose, subject to the provisions of Chapter 8.04, Subdivision 2, of the Charter. The City may subsaquently reimburse itself for all or any of the portion of the cost of a water, storm sewer, or sanitary sewer improvement so paid by levying additional assessments upon any properties abutting on but not previously assessed for the improvement, on notice and hearing as provided for the assessments initially made. To the extent that such an improvement benefits non-abutting properties which may be served by the improvement w. hen one or more later extensions or improvements are made but which are not initially assessed therefore, the City may also reimburse itself by adding all or any of the portion of the cost so paid to the assessments levied for any of such later extensions or improvements, provided that notice that such additional amount will be assessed is included in the notice of hearing on the making of such extensions or improvements. The additional assessments herein authorized may be made whether or not the properties assessed were included in