New Jersey Statutes 18A:18A-40.1. Partial payments
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Terms Used In New Jersey Statutes 18A:18A-40.1
- Board: means the board of education. See New Jersey Statutes 18A:1-1
- Board of education: means and includes the board of education of any local school district, consolidated school district, regional school district, county vocational school and any other board of education or other similar body other than the State Board of Education, the Commission on Higher Education or the Presidents' Council, established and operating under the provisions of Title 18A of the New Jersey Statutes and having authority to make purchases and to enter into contracts for the provision or performance of goods or services. See New Jersey Statutes 18A:18A-2
- month: means a calendar month, and the word "year" means a calendar year. See New Jersey Statutes 1:1-2
- Work: means any task, program, undertaking, or activity, related to any development, redevelopment, construction or reconstruction performed or provided pursuant to a contract with a board of education. See New Jersey Statutes 18A:18A-2
1. Any contract, the total price of which exceeds $100,000.00, entered into by a board of education involving the construction, reconstruction, alteration, repair or maintenance of any building, structure, facility or other improvement to real property, shall provide for partial payments to be made at least once each month as the work progresses, unless the contractor shall agree to deposit bonds with the board of education pursuant to section 2 of P.L.1987, c.343 (C. 18A:18A-40.2).
L.1987,c.343,s.1; amended 1999, c.440, s.75.