At the time and place named, the bids shall be publicly opened and read. No bid shall be rejected for informality, but shall be received if it can be understood what is meant thereby. The city council shall proceed to determine the lowest bidder, and may let such contract to such bidder, or if in its opinion all bids are too high, it may reject all of them and readvertise, or may proceed to do the work under its own supervision by “days work” and in such case, all checks shall be returned to the bidders by the city clerk-treasurer; but, if the contract is let, then, and in such case, all checks shall be returned to the bidders except that of the bidder whose bid is accepted, which shall be retained until the contract is entered into for making such bid, and the duly approved and accepted bond therefor is filed in the office of the city clerk-treasurer. If the bidder fails to enter into such contract in accordance with his bid within ten days from the date at which he is notified that he is the successful bidder, the clerk-treasurer shall stamp across the face of the certified check “Forfeited to the city of Kettle Falls” and shall deposit it in the city treasury to the credit of the local improvement fund, and the city council may readvertise for proposals for such work, and neither the clerk-treasurer nor the city council shall have the power to remit such forfeiture. (Ord. 1337, §7, 1980).