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City Council of each specific item for the payment of charges for supplies, labor, or other valuable consideration furnished the City, in amounts not exceeding Two Hundred Dollars ($200.00) in any one contract. Further, the City Council may authorize, by the affirmative votes of a majority of its members, the City Manager to bind the City on contracts in writing without advertising and without previous approval by the City Council of each specific item for the payment of charges for supplies, labor, or other valuable consideration to be furnished the City, in amounts not exceeding Two Thousand Dollars ($2,000.00) in any one contract. Every contract involving an expenditure of more than Two Thousand Dollars ($2,000.00) for materials, supplies, or equipment, or for public works construction (as hereinafter defined) shall be made by the City Council with the lowest and best bidder after the publication for at least two days in the official newspaper of a notice calling for bids and fixing a period during which such bids will be received, which shall be for not less than ten days after the first publication of said notice. The City Council may reject any and all such bids presented and may readvertise in its discretion. After rejecting such bids, or if no bids are received, the City Council may determine and declare that, in its opinion, based on estimates submitted by the City Manager, the work may be performed better or more economically by the City with its own employees, and,after the adoption of a resolution to this effect by the affirmative votes of at least two- thirds of the members of the Council, may proceed to have said work done in the manner stated, without further observance of the provisions of this Section. Such contracts likewise may be let without adver- tising for bids if such work shall be deemed by the City Council to be of urgent necessity for the preservation of life, health, or property, and shall be authorized by motion passed by the affirmative votes of at least two-thirds of the members of the City Council and containing a declaration of the facts constituting such urgency.