No contract for any road improvement shall be awarded at a price more than ten per cent in excess of the estimated cost. The bids received shall be opened at the time stated in the notice. If no bids are made that equal one hundred ten per cent of the estimate or less, the board of township trustees shall either readvertise based upon the original estimate, or request an amended estimate from the county engineer, who shall proceed to make such an estimate as provided in section 5575.01 of the Revised Code, and proceed to advertise based upon the amended estimate. The board is not required to provide notice of the estimate or amended estimate when readvertising under this section.
No contract shall be awarded for any road improvement without the certification as to funding required under section 5705.41 of the Revised Code. The board may reject all bids.