The Town Council reserves the right to reject any and all bids. In case any bid is not accepted, the check accompanying the same will be returned to the bidder, but if the bid is accepted and the bidder shall refuse or neglect to enter into any contract with the town within ten days from the time he or she shall have been notified of acceptance of the same, said check shall be forfeited to the town as ascertained and liquidated damages for failure to do so, and if after any contract has been let by said Council it shall be made to appear that the successful bidder has been guilty of collusion, combination, understanding, or agreement as defined in such affidavit of noncollusion, then such contractor shall forfeit such contract and such work shall be relet by the Town Council.
(Prior Code, § 5.6)