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412.311 CONTRACTS <br />Except as provided in sections 471.87 to 471.89, no member of <br />a council shall he directly or indirectly interested in any <br />contract made by the council. Whenever the amount of a contract <br />for the purchase of merchandise, materials or equipment or for any <br />kind of construction work undertaken by the city is estimated to r <br />exceed $5,000, the contract shall be let to the lowest responsible <br />bidder, after notice has Men published once in the official <br />newspaper at lust ten days in advance of the last day for the sub- <br />mission of bids. If the amount of the contract exceeds 51,000, it <br />shall be entered into only after compliance with section 471.34S. <br />