7-14-2720. Payments while work in progress. (1) The surveyor, with the approval of the committee, shall make estimates of the amount of the work completed. After auditing, the estimates may be paid by the treasurer, to an amount not exceeding 80%, during the progress of the work.
     (2) If the assessment is payable by installments, the treasurer shall pay the order from the assessments that have been collected prior to the issuance of the bonds and from the proceeds of the sales of the bonds after issuance.
     (3) If the board has ordered that the contractor must receive bonds in payment, the order for payment must call for bonds instead of money. The treasurer shall deliver the bonds, dating them with the day of delivery to the contractor, and interest must accrue from that date.

     History: En. Sec. 5-430, Ch. 197, L. 1965; R.C.M. 1947, 32-3130(1) thru (3); amd. Sec. 593, Ch. 61, L. 2007.