A. Publication: All proposals to award purchase orders or contracts in excess of twenty five thousand dollars ($25,000.00) shall be published once at least ten (10) days in advance of the date announced for receiving bids in a newspaper of general circulation throughout the Village by the Village Clerk. Nothing herein shall be construed to prohibit the Village Clerk from posting additional notices or advertising in addition thereto in trade magazines, if so directed by the Board of Trustees;
B. Advertisement For Bids: Advertisement for bids shall describe the character of the proposed contract, purchase or improvement in sufficient detail to enable the bidders thereon to know what their obligations will be, either in the advertisement itself, or by reference, to detailed plans and specifications on file in the Office of the Village Clerk at the time of publication of the announcement. The advertisement shall also state the date, time and place assigned for submitting bids and for the opening of bids;
C. Deposit On Bids: Cash, a cashier's check or a certified check as a deposit of good faith, in a reasonable amount not in excess of ten percent (10%) of the contract or purchase amount, may be required of each bidder on all sums in excess of twenty five thousand dollars ($25,000.00) if specified in the bid announcement;
D. Opening Of Sealed Bids: All sealed bids shall be opened publicly by the Board of Trustees. All bids shall be open to public inspection in the Office of the Village Clerk;
E. Bid Award: The award of any purchase or contract in excess of twenty five thousand dollars ($25,000.00) shall be made by the Board of Trustees to the lowest responsible bidder. (Ord. 2017-26, 11-20-2017)