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(A) Publication. All proposals to award purchase orders or contracts in excess of $25,000 shall be published once at least ten days in advance of the date announced for the receiving of bids in a newspaper of general circulation throughout the village by the Clerk. Nothing herein shall be construed to prohibit the Clerk from posting additional notices or advertising in addition thereto in trade magazines, if so directed by the Board of Trustees.
(B) Advertisements for bids. Advertisement for bids shall describe the character of the proposed contract, purchase or improvement in sufficient detail to enable the bidders thereon to know what their obligations will be, either in the advertisement itself, or by reference, to detailed plans and specifications on file in the office of the Clerk at the time of publication of the announcement. The advertisement shall also state the date, time and place assigned for the opening of bids and the bids will be received at any time subsequent to the time indicated in the announcement.
(C) Deposit on bids. Cash, a cashier's check or a certified check as a deposit of good faith, in a reasonable amount not in excess of 10% of the contract or purchase amount, may be required of each bidder on all sums in excess of $25,000 if specified in the bid announcement.
(D) Opening of sealed bids. All sealed bids shall be opened publicly by the Board of Trustees. All bids shall be open to public inspection in the office of the Clerk.
(E) Bid award. The award of any purchase or contract in excess of $25,000 shall be made by the Board of Trustees to the lowest or highest responsible bidder, depending on whether the village is to expend or receive money.
(1981 Code, § 4.03) (Am. Ord. 06-08, passed 3-20-2006; Am. Ord. 17-52, passed 11-6-2017)