107.03 DISPOSITION OF CHECKS OR BID BONDS.
   The Clerk of Council is hereby authorized and directed to return checks and bid bonds to unsuccessful bidders as soon as the City has entered into a contract with the lowest and best bidder as designated by the Board of Control. The check or bid bond of the successful bidder shall be retained until such bidder has entered into a contract with the City in accordance with his or her bid, otherwise, the bidder shall forfeit the check received, and/or the City may proceed against such bidder and/or his or her surety company for failure to enter into a contract. (Ord. 83-66. Passed 11-7-83.)