(a) Whenever the city receives bids for a capital improvement project, one or more of which bids exceed the city’s estimate of the project’s cost, and the user agency decides not to proceed with the project, the user agency shall notify the council of the following as soon as the user agency determines not to award the contract because of insufficient funds:
(1) The name of the project;
(2) The city’s estimate of the project’s cost;
(3) The dollar amount of each bid received for the project; and
(4) The amount and percentage by which the lowest bid exceeds the city’s estimate of the project’s cost.
(b) For the purpose of this section, “user agency” means the city agency for which the project is being built.
(1990 Code, Ch. 2, Art. 17, § 2-17.4) (Added by Ord. 94-74)