All contracts and purchase orders involving the expenditure of funds which exceed the amount specified by the laws of the State of Ohio for which funds may not be expended without advertisement and competitive bidding, shall first be authorized by Council. The Manager may execute said contract or purchase order on behalf of the City with the lowest and best bidder as determined by Council in their discretion considering the amount of the bid, the reputation and past performance of the bidder, his financial condition and other pertinent information, after advertising at least one time more than seven (7) days prior to the final day for receipt of bids, in a newspaper of general circulation in the community. Modifications to contracts and purchase orders in excess of ten percent of the original contract amount or the amount then set forth in the Ohio Revised Code as the maximum expenditure which an officer in the executive branch may authorize, shall first be authorized by Council. Such modification may be accepted by Council without further advertising or bidding. Compensation of employees, contracts for professional or expert personal services and expenditures required because of a real or present emergency need not be advertised nor bids sought. At least five (5) members of Council must approve an expenditure under the real and present emergency need.
   The City Manager may reject any proposed bid which is not in compliance with the bid specifications, or the City Manager may elect to reject all bids and re-bid such contract if such bids are not consistent with the budgetary requirements for such project or contract.