§ 18-34. Payments to contractors performing local improvements authorized prior to completion of work.

The common council may, in its discretion, during the progress of the work upon any local improvement upon the certificate of the commissioner of public works, if the work is being performed under his supervision, or of the city engineer, if the work is being performed under such city engineer's supervision, that a portion thereof has been completed in accordance with the terms of the contract therefor, estimating the value of the parts so performed at the contract price therefor, authorize the payment to the contractor upon the contract price a sum not exceeding eighty-five (85) per centum of the amount of the estimate so given.

(N.Y. Laws 1905, Ch. 684, § 30; N.Y. Laws 1916, Ch. 61, § 2; N.Y. Laws 1917, Ch. 111, § 1; N.Y. Laws 1921, Ch. 570, § 1; L.L. No. 1-1928, § 7; N.Y. Laws 1943, Ch. 710, Pt. 3, § 955)