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~74 <br />extension of the time therefor be granted by the Common Council. The party vrhose bid is <br />accepted shall also execute and deliver to the city a good and sufficient bond, with ore or <br />more surities to be approved by the r'ublic ~lorks Commi ttee of the City, in an amount to <br />eighty per cent of his contract, price, as security for th~; faithful and satisfactory ful- <br />fillment of his contrac ~. <br />Section 5. That each party bidding for said construction shall accompany his bid with <br />a certified check or cash in an amount equal to five per cent of the amount of his bid, as <br />evidence of good faith, and said check, or the proceeds thereof, or said moneZ• shall be re- <br />tained by the City until a written contract is finally made, and ,fully executed and the bond <br />furnished and delivered, a7_l to k~ done within ten days after the aVrard of said contract. <br />Section 6. ZrtF~REAS, the construction contemplated and provided for by this ordinance, <br />'is a necessary construction and the seVrer system to be improved is in such condition that <br />its immediate improvement is essential to its safety, it is therefore, declared that and <br />emergency exists and that it is necessary for the i~medi.a to preser~~ation of the public peace, <br />health and safety, that this ordinance t~}:e effect at once, and it is ordered that this act <br />shall take effect i.a^mediately upon its passage b,y the Council and approval by the Mayor. <br />Passed by the Common Council <br />this 27th day of September, 1948. <br />/s/ Henry F. Beistel <br />City Recorder <br />~!}~proved by the n4ayor this <br />28th day o f Septembe r, 19;8 . <br />/s/ Earl ~ . ]~RcNutt <br />,, Jor~ <br />1 <br />4 <br /> <br /> <br />