All purchases and contracts for the town government shall be made by the officer so designated by the Council. The Council may provide by ordinance for rules and regulations regarding the use of competitive bidding and contracts for all town purchases and contracts. All expenditures for supplies, materials, equipment, construction of public improvements, or contractual service involving more than ten thousand dollars ($10,000) will be made on written contract. The designated officer shall be required to advertise for sealed bids, in such manner as may be prescribed by ordinance, for all such written contracts. Such written contracts shall be awarded to the bidder who offers the lowest or best bid, quality of goods and work, time of delivery or completion, and responsibility of bidders being considered. All such written contracts shall be approved by the Council before becoming effective. The Mayor and Council shall have the right to reject all bids and readvertise. The town at any time, in its discretion, may employ its own forces for the construction or reconstruction of public improvements, without advertising (or re-advertising for) or receiving bids. All written contracts may be protected by such bonds, penalties, and conditions as the town may require. (Res. No. 1-01, 3-27-01.) (See Note (3))