Upon the letting or awarding of such work or improvement, the City Attorney shall draw a contract between the city and the person to whom the same has been awarded, which contract shall be properly executed in duplicate before such person shall be entitled to proceed with such work, and such contract shall be accompanied by a bond in the penal sum of twice the amount of such bid, with good and sufficient sureties to be approved by the City Council, conditioned for the faithful performance of such work according to the terms of such contract, any applicable provisions of this code and any other ordinances of the city.
('72 Code, § 3.20(g))