The City Clerk shall advertise for sealed bids for any work to be done by contract under the provisions of this code, by publication one time in a newspaper published and/or having a general circulation and distributed in the city; such publication shall not be less than ten days prior to the opening of said bids. The published notice shall call for sealed bids for a contract period to be designated in the notice and such bids may be called for in the alternative for different periods and the city shall accept that bid which in its judgment will best serve the interest of the city provided that no contract shall be let for a period of less than one year, nor more than three years, and said contract shall provide that the term thereof shall in the agreement of the city and its authorized collector be mutually extended for an additional like period. Each bid shall be accompanied by cash or certified or cashier’s check on some bank or trust company in the county, payable to the city in the sum of $500 as a guarantee that the successful bidder will upon the award being made enter into the contract hereinafter provided for. The cash or checks of unsuccessful bidders shall be returned to them.
(1999 Code, § 17-1-13)