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any deposited security. In the latter case, the contractor shall be | entitled to receive interest, coupons or income only from those | securities which remain after such amount has been deducted. |
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| | | Any assignment of retained payments made by the contractor | shall be honored by the Treasurer of State as part of the | procedure to accomplish the substitution of securities under this | section, provided that such assignment will not be made without | prior notification to the contracting agency of the State and the | Treasurer of State. Such assignment shall not impair the | equitable rights of the contractor's surety in the retained | payments or in the securities substituted therefor in the event | of the contractor's default in the performance of the contract or | in the payment of labor and material bills or other obligations | covered by said surety's bond. |
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| | | Any contract made or awarded by the State, political | subdivision or department or official thereof shall include the | cost of necessary pollution control, if any, which will be | required during the execution of the contract; provided the cost | of pollution control activity which is required by legislation or | regulation, passed or promulgated after the date on which bids | are received for the project for which such contract is made or | awarded, shall be paid for in an equitable manner. |
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| | | The Director of the Bureau of Public Improvements may approve | contracts with a provision for daily financial incentive for | projects completed before the scheduled date when it can be | demonstrated that the early completion will result in a financial | savings to the owner or to the State. The financial incentive | may not be greater than the projected daily rate of savings to | the owner or the State. |
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| | | Sec. 2. 5 MRSA §1746-A is enacted to read: |
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| | | §1746-A.__Retention of part of contract payment for state and |
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| | | major school construction projects |
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| | | This section governs the retention of part of the contract | | payment for public improvement projects.__Nothing in this section | | prevents the withholding of payment to cover good faith claims as | | provided in Title 10, section 1118. |
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| | | 1.__Definitions.__As used in this section, unless the context | | otherwise indicates, the following terms have the following | | meanings. |
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| | | A. "Owner" means the State, a school administrative unit or a | | school building committee having an interest in real |
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