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Unless the improvement is made by the City, the contract therefor shall be let upon competitive bidding after notice published in the official City newspaper, and such notice shall specify that all bids shall be accompanied by a certified check payable to the order of the City Clerk in a sum not less than five percent of the amount of the bid, and no bid shall be considered unless accompanied by such check, and the notice shall also provide that the bidder shall, within 10 days after the acceptance of his bid by the City Council, enter into contract required by the City Clerk until the required bond and contract shall be entered into and the bond furnished within the time aforesaid by order of the City Council. [Code 1970 § 14.04.110; Code 1954 § 2-12.44.]