40-22.1-14. City auditor's statement of estimated cost required - Governing body to enter into contracts

40-22.1-14. City auditor's statement of estimated cost required - Governing body to enter into contracts. Before adopting or rejecting any contract proposed under this chapter, the governing body shall require the city auditor for the municipality to make a careful and detailed statement of the estimated cost of the work. The governing body may not award the contract if the city auditor's estimate prepared under this section exceeds the estimate prepared under section 40-22.1-04. If all proposals are not rejected, the governing body shall award the contract to that person, firm, corporation, limited liability company, or other entity best able to perform the work, upon the basis of cash payment for the work.