On the date designated in the advertisement for the contract to build or repair a bridge under this part, the governing body of a county shall open the bids. The governing body shall award the contract to the lowest bidder that the governing body determines is qualified to build or repair the bridge. The person awarded the contract shall provide the governing body a bond issued by an approved surety, in double the amount of the contract, conditioned on performance of the contract. After notification by the contractor that the work is finished, the governing body of a county shall: inspect the work; and if the governing body determines that the bridge is built or repaired in accordance with the specifications of the contract, the governing body shall take control of the bridge and open the bridge for public travel. After the bridge is open for public travel, the contractor is entitled to receive the last installment due on the contract.