§ 36-1-12-1.2 — Definitions

Indiana § 36-1-12-1.2

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 1: GENERAL PROVISIONS
• Ch. 12: Public Work Projects

Text

2. The following definitions apply throughout
this chapter:
(1) "Board" means the board or officer of a political subdivision
or an agency having the power to award contracts for public work.
(2) "Contractor" means a person who is a party to a public work
contract with the board.
(3) "Subcontractor" means a person who is a party to a contract
with the contractor and furnishes and performs labor on the public
work project. The term includes material men who supply
contractors or subcontractors.
(4) "Escrowed income" means the value of all property held in an
escrow account over the escrowed principal in the account.
(5) "Escrowed principal" means the value of all cash and
securities or other property placed in an escrow account.
(6) "Operating agreement" has the meaning set forth in IC 5-23-2-7.
(7) "Person" means any association, corporation, limited liability
company, fiduciary, individual, joint venture, partnership, sole
proprietorship, or any other legal entity.
(8) "Property" means all:
(A) personal property, fixtures, furnishings, inventory, and
equipment; and
(B) real property.
(9) "Public fund" means all funds that are:
(A) derived from the established revenue sources of a political
subdivision or an agency of a political subdivision; and
(B) deposited in a general or special fund of a municipal
corporation, or another political subdivision or agency of a
political subdivision.
The term does not include funds received by a person under a
duly authorized public-private agreement under IC 5-23 or
proceeds of bonds payable exclusively by a private entity.
(10) "Retainage" means the amount to be withheld from a
payment to the contractor or subcontractor until the occurrence of
a specified event.
(11) "Specifications" means a description of the physical
characteristics, functional characteristics, extent, or nature of any
public work required by the board.
(12) "Substantial completion" refers to the date when the
construction of a structure is sufficiently completed, in
accordance with the plans and specifications, as modified by any
complete change orders agreed to by the parties, so that it can be
occupied for the use for which it was intended.

Legislative History

As added by P.L.329-1985, SEC.9. Amended by P.L.82-1995, SEC.13; P.L.73-1995, SEC.3; P.L.49-1997, SEC.74; P.L.91-2014, SEC.34; P.L.255-2017, SEC.34.