286. The executive committee must submit to the council every draft contract involving an expenditure of more than $5,000 or an expenditure not provided for in the budget.
The executive committee may, if so authorized by ordinance of the council, grant to the lowest bidder contracts involving an expenditure of not more than $10,000; subject to the provisions of section 358, it may also, after calling for tenders and without the council’s authorization, award any contract the price whereof does not exceed the amount placed at its disposal for the purpose.