e contract so awarded shall be voidable at the option of the Council, or the board, officer or employee making the same on behalf of the City, as the case may be, and the contractor or supplier and its bond company shall be liable to the City for all loss or damage which the City may suffer thereby; and the Council, board, officer or employee, as the case may be, may advertise for a new contract. Any contractor or supplier making a false affidavit may be excluded from future bidding or contracting with the City. The officer, board or City Council, having jurisdiction over the contracting process , may permit any informality in such affidavit to be remedied, so as to comply with requirements, at any time prior to award of the contract. After bids or proposals have been opened by the City, except with the consent of the officer, board or City Council having jurisdiction over the contracting process, no bid or proposal shall be withdrawn, but the same shall be subject to acceptance by the City for a period of three months, or such lesser period as prescribed in the notice inviting proposals or bids to contract. (e) At the time set for receiving the bids or proposals, those presented will be publicly opened and declared by or on behalf of the officer or board or the City Council; and thereupon may be referred to any appropriate officer for report and recommendation at a specified time, prior to consideration by such officer, board or the Council for award. (f) At the time specified for opening said bids or proposals, or at any time to which the matter thereafter may be continued for report, the contract shall be awarded to the lowest responsible bidder providing satisfactory security for its performance. That determination may be based on the lowest ultimate cost of the materials, supplies and/or services in place and use; and where the same are to constitute a part of a larger project or undertaking, consideration may be given to the effect on the aggregate ultimate cost of such project or undertaking. In addition, irrespective of provisions of this subsection requiring award to the lowest responsible bidder, a bid preference can be allowed in the letting of contracts for California or Los Angeles County firms and, in addition, the bid specifications can provide for a domestic content requirement;