15.71 PUBLIC CONTRACTS; SECURITY FOR COMPLETION OF PERFORMANCE;
Subdivision 1. Scope.
For the purposes of sections
unless the context clearly
indicates otherwise, the terms defined in this section have the meanings given them.
Subd. 2. Public contract.
"Public contract" means any purchase, lease or sale by a public
agency of personal property, public improvements or services, other than agreements which are
exclusively for personal services.
Subd. 3. Public agency.
"Public agency" or "public contracting agency" means any agency
of the state of Minnesota or any of its political subdivisions authorized by law to enter into
Subd. 4. Public improvement.
"Public improvement" means any construction of
improvements on real property or highways by or for a public agency.
Subd. 5. Retainage.
"Retainage" means the difference between the amount earned by the
contractor on a public contract and the amount paid on the contract by the public contracting
History: 1980 c 464 s 1