Where formal bidding is employed, the bids shall be opened and tabulated publicly by the City Manager or his representative and by the Director of Finance or his representative, at the time and place specified in the advertisement for bids. The investigation of the responsibility of the bidders shall be made as the City Manager may deem necessary, and the City Manager shall then award the contract to the lowest and best responsible bidder, unless he determines that the interest of the city would be better served by rejecting all bids and ordering a new advertisement, in which case he may so order. Before the contract is signed, it shall be submitted to the Finance Director for encumbrance and certification and approved as to form by the Law Director. Council shall be informed of all bidding action and awarding of contracts. ('70 Code, § 133.03; amend. Ord. 2291, passed 10-27-81)