Okla. Stat. tit. 11, § 11-36-210: Award of contract - Aggregate cost

At the time and place named in the notice for proposals to

contractors, the municipal governing body shall examine all bids

received. Without unnecessary delay, the governing body shall award

the contract to the lowest and best bidder, who will perform the

work and furnish the materials which have been selected, and perform

all the conditions imposed by the governing body, as prescribed in

the resolution ordering the improvement and notice for proposals.

The aggregate amount of the contract shall not exceed the aggregate

estimate of cost submitted by the engineer for the improvement, and

in the event of any excess in cost over the engineer's estimate, the

excess shall be void and no assessments for such excess may be

levied. The governing body shall have the right to award a contract

for all or a portion of the improvement or to reject any or all

bids, and to readvertise for other bids when any bids are not, in

its judgment, satisfactory. The letting of the contract shall not

be complete until the contract is duly executed and the bonds

approved.