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} <br /> (c) The general contractor for the PEPI must agree in writing to comply with <br /> all applicable laws concerning reporting and payment of prevailing wages <br /> for the entire PEPI; <br /> (d) The city's Direct or Indirect Funding may not provide a pecuniary benefit <br /> to the owner of the development for which the PEPI is being constructed, <br /> other than benefits that are shared by all members of the community; <br /> (e) The performance of the general contractor and the payment of labor for <br /> the PEPI must be secured by performance and payment bonds or other <br /> cash equivalent security that is acceptable to the Purchasing Agent to <br /> protect the city against claims for payment and defective performance, <br /> unless the city's obligation to make a payment is conditioned upon final <br /> completion of the Public Improvement and proof of, or security for, <br /> payment that is acceptable to the Purchasing Agent; and <br /> (f) The contract for construction of the PEPI must be amended, as necessary, <br /> to require the general contractor to maintain adequate Workers Compensation <br /> and liability insurance and to protect and provide indemnification to the <br /> city for all claims for payment, injury or property damage arising from or <br /> related to the construction of the PEPI. <br /> 4.4 .8 CONSTRUCTION OF PUBLIC IMPROVEMENTS OR RESURFACING OF ROADS USING <br /> CITY EQUIPMENT OR PERSONNEL. (ORS 279C.305). <br /> 4.4 .8 .1 Required Plans and Reports. Before the city constructs a Public <br /> Improvement, or resurfaces a highway, road or street at a depth of two or more <br /> inches and at an estimated cost that exceeds $125,000, using its own equipment <br /> or personnel, other than an improvement to be used for the distribution or <br /> transmission of electric power: <br /> (a) If the estimated cost exceeds $125,000, the department that will perform <br /> the work shall prepare adequate plans and Specifications and the estimated <br /> unit cost of each classification of work. The estimated cost of the work <br /> must include a reasonable allowance for the cost, including investment <br /> cost, of any equipment used. As used in this paragraph, "adequate" means <br /> sufficient to control the performance of the work and to ensure satisfactory <br /> quality of construction by the city personnel. <br /> (b) The department that performs the work shall cause to be kept and <br /> preserved a full, true and accurate account of the costs of performing the <br /> work, including all engineering and administrative expenses and the cost, <br /> including investment costs, of any equipment used. The final account of <br /> the costs is a public record. <br /> 4.4 .8 .2 Required Accounting System. (ORS 279C.310). If the city fails to adopt and <br /> apply a cost accounting system that substantially complies with the model cost <br /> accounting guidelines developed by the Oregon Department of Administrative <br /> Services pursuant to section 3, chapter 869, Oregon Laws 1979, as determined <br /> by an accountant qualified to perform audits required by ORS 297.210 and <br /> Administrative Order <br /> Article 4 Classes of Contracts Page 11 <br />