California Streets and Highways Code 170 – Where it is estimated by the department that the work involved in a …
Where it is estimated by the department that the work involved in a project to be constructed under the State Contract Act (Chapter 1 (commencing with Section 10100) of Part 2 of Division 2 of the Public Contract Code) will not be completed within a given fiscal year, the department, in the contract specifications, may provide a limitation upon the amounts that will be paid to the contractor during the first or second fiscal years of the construction period. Subject to this limitation, the contracts shall provide for the completion of the work and full payment therefor.
For the purposes of complying with Section 169, the department may include in any proposed budget, and the commission may allocate, at least the amounts with reference to those construction projects as would be payable during the fiscal year, together with all necessary engineering and other charges.
Terms Used In California Streets and Highways Code 170
- commission: means the California Transportation Commission. See California Streets and Highways Code 22
- Construction: includes :
California Streets and Highways Code 29
- Contract: A legal written agreement that becomes binding when signed.
- Department: means the Department of Transportation of this state. See California Streets and Highways Code 20
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(Amended by Stats. 2002, Ch. 438, Sec. 27. Effective January 1, 2003.)