2011 New Mexico Statutes
Chapter 67: Highways
Article 3: State Transportation Commission, 67-3-1 through 67-3-77
Section 67-3-48: Partial payments on road contracts; progress estimates; limitation; division of amounts.
67-3-48. Partial payments on road contracts; progress estimates; limitation; division of amounts.
Partial payments may be made on any contract for highway improvement under the provisions of this act, as the work progresses. Progress estimates shall be based on materials in place and labor expended thereon, but no more than ninety-five percent of the contract price of the work shall be paid in advance of the full completion of such contract and its acceptance by the state highway engineer. The state and county shall each pay its proportionate share of such partial payments on the certification of the amount thereof by the state highway engineer.
Disclaimer: These codes may not be the most recent version. New Mexico may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
