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NOTICE TO BIDDERS <br /> Minnesota Statutes that require prompt payment to subcontractors: <br /> 471.425 Prompt payment of local government bills. <br /> Subd. 1. Definitions. For the purposes of this section, the following terms have the <br /> meanings here given them. <br /> (d) "Municipality" means any home rule charter or statutory city, county, town, school <br /> district, political subdivision or agency of local government. "Municipality" means the <br /> metropolitan council or any board or agency created under chapter 473. <br /> Subd. 4a. Prompt payment to subcontractors. <br /> Each contract of a municipality must require the prime contractor to pay any <br /> subcontractor within ten days of the prime contractor's receipt of payment from the <br /> municipality for undisputed services provided by the subcontractor. The contract must <br /> require the prime contractor to pay interest of 1-1/2 percent per month or any part of a <br /> month to the subcontractor on any undisputed amount not paid on time to the <br /> subcontractor. The minimum monthly interest penalty payment for an unpaid balance of <br /> $100 or more is $10. For an unpaid balance of less than $100, the prime contractor shall <br /> pay the actual penalty due to the subcontractor. A subcontractor who prevails in a civil <br /> action to collect interest penalties from a prime contractor must be awarded its costs and <br /> disbursements, including attorney's fees, incurred in bringing the action. <br /> HIST: 1985 c 136 s 5; 1995 c 31 s I <br />