§ 573.18 — Adjudication — payment of claims

Iowa § 573.18

• Jurisdiction: Iowa
• Title XIV: PROPERTY
• Ch. 573: LABOR AND MATERIAL ON PUBLIC IMPROVEMENTS

Text

1. The court shall adjudicate all claims for which an action is filed under section 573.16.
Payments from the retained percentage, if still in the hands of the public corporation, shall
be made in the following order:
a. Costs of the action.
b. Claims for labor.
c. Claims for materials.
d. Claims of the public corporation.
2. Upon settlement or adjudication of a claim and after judgment is entered, unpaid funds
retained with respect to the claim which are not necessary to satisfy the judgment shall be
released and paid to the contractor within twenty days of receipt by the public corporation of
evidenceofentryofjudgmentorsettlementoftheclaim. Failuretomakepaymentbythatdate
shall cause interest to accrue on the unpaid amount. Interest shall accrue during the period
commencing on the twenty-first day after receipt by the public corporation of evidence of
entryofjudgmentandendingonthedateofpayment. Therateofinterestshallbedetermined
as set forth in section 573.14.

Legislative History

[C24, 27, 31, 35, 39, §10315; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §573.18]