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'~ 59 <br /> <br />one or more sureties to be approved by the Finance Committee of the City, in an amount <br />equal to eighty per cent of his contract price, as security for the fa.itrful and satis- <br />factory fulfillment of his contract. <br />Section 5. That each ioarty bidding for said construction shall accompany his bid <br />with a certified check or cash in an amount equal to five per cent of the amount of his <br />bid, a.s evidence of good faith, and said check, or the proceeds thereof, or said money <br />shall be retained by the City until a written contract is finally made, and fully exe- <br />cuted and the bond furnished. and delivered, all to be done within ten days after the <br />award of said contract. <br />Section 6. 'vTHEREAS, the construction contemplated end provided for by this ordin- <br />1 <br />Cl <br />1 <br />ante, is a necessary construction and the se~n~er system to be improved is in such condi- <br />tion that its immediate construction is essential to its safety, it is therefore, de- <br />Glared than an emergency exists and that it is necessary for the immediate preservation <br />of the public peace, health and safety, that this ordinance take effect at once, and it <br />is ordered that this z.ct shall take effect immediately upon its passage by the Council <br />and approval by the Mayor . <br />Approved. by the hlayor this <br />9th say of March, 19~-g . <br />/s/ Earl L. McNutt <br />A4ayor <br />Passed by the Common Council <br />this gth day of March, 1Q~8. <br />~s~ Henry F. 33eistel _ <br />City Recorder <br /> <br />