2005 Minnesota Statutes - 103E.535 — Partial payment of retained contract amounts.

     103E.535 Partial payment of retained contract amounts. 


    Subdivision 1.    Petition for partial payment of retained 
 value.  If a single contract exceeds $50,000, and the 
 contract, exclusive of materials furnished and not installed, is 
 one-half or more complete and the contractor is not in default, 
 the contractor may file a verified petition with the auditor 
 stating these facts and requesting that an order be made to pay 
 40 percent of the retained value of work and material.  


    Subd. 2.    Notice of hearing.  When the petition is 
 filed, the auditor shall set a time and location for a hearing 
 on the petition before the drainage authority.  At least five 
 days before the date of hearing, the auditor shall give notice 
 by mail of the date and location of hearing to the engineer, the 
 attorney for the petitioners, the surety of the contractor's 
 bond, and auditors of the affected counties.  


    Subd. 3.    Hearing.  At the hearing the drainage 
 authority shall hear all parties interested.  If the drainage 
 authority determines that the facts in the petition are correct, 
 the work has been performed in a satisfactory manner, and a 
 portion of the retained percentage may be released without 
 endangering the interests of affected counties, the drainage 
 authority shall state the findings and may order not more than 
 40 percent of the retained value of work and material to be paid.


    HIST: 1990 c 391 art 5 s 72