Each contract submitted to the city council for approval shall be accompanied by a tabulation of all bids received. All bids, deposits of cash, certified or cashier’s checks may be retained until the contract is awarded and signed. If any successful bidder fails or refuses to execute the contract after its award, the deposit accompanying the bid shall be forfeited and the city council may award the contract to the next lowest and best bidder or readvertise for new bids.
(Ord. No. 0-94-01, 2-21-94)