Sealed bids shall be received by the City Council after advertisement not less than ten days prior to the date of the receiving of the bids, and after receipt thereof, the applicant shall deposit with the City Clerk the entire cost, based upon the lowest responsible bid, the cost to include the entire cost of the proposed extension, including pipes, valves, fittings, fire hydrants, all other material and all costs of engineering and inspection. Excepting that if the city should require the installation of a size of pipe larger than is found by the city engineering standard to be necessary for the subdivision, the deposit shall be based upon the cost of installing the size determined to be necessary for the subdivision, with the city standing the additional cost for a larger line.
(1999 Code, § 52.103)