Renovation of historic sites - Payment

(a) The contracting agency shall establish, as part of the contract, a maximum compensation for the project. (b) Payment shall be based on the work actually done and the materials actually used. (c) The contractor shall submit periodic invoices for labor, materials, and overhead and profit in accordance with the rates established in the bid proposal. Acts 1977, No. 869, § 4; A.S.A. 1947, § 14-654.3. (a) The contracting agency shall establish, as part of the contract, a maximum compensation for the project. (b) Payment shall be based on the work actually done and the materials actually used. (c) The contractor shall submit periodic invoices for labor, materials, and overhead and profit in accordance with the rates established in the bid proposal. Acts 1977, No. 869, § 4; A.S.A. 1947, § 14-654.3.