Council by ordinance shall establish notice provisions and other procedures for competitive bidding when the threshold amount established by the Ohio Revised Code is exceeded. When any contract for the construction of a public improvement or the purchase of equipment, supplies, or materials is estimated to exceed the threshold established by the Ohio Revised Code, the contract shall be competitively bid. Council shall award a contract to the lowest and best bidder, provided that Council may reject any and all bids in whole or by items. No contract shall be divided to avoid the requirements of competitive bidding.