54-12-314 - Contractor paid on basis of eighty percent of engineer's monthly estimate of amount of work done. - Tennessee Statutes

54-12-314. Contractor paid on basis of eighty percent of engineer's monthly estimate of amount of work done.

The engineer in charge of the construction shall furnish to the contractor monthly estimates of the amount of work done on each section, and upon filing the estimates with the county clerk, the county mayor shall draw a warrant in favor of the contractor for eighty percent (80%) of the value of the work done according to the estimate.

[Acts 1919, ch. 193, § 79; Shan. Supp., § 1682a93; Code 1932, § 2907; modified; T.C.A. (orig. ed.), § 54-1514; impl. am. Acts 1978, ch. 934, §§ 16, 22, 36; Acts 2003, ch. 90, § 2.]