A certified check for a sum not less than fifty dollars ($50.00), nor more than two hundred fifty dollars ($250), as the department of water resources may determine, shall accompany each requested proposal by an irrigation district, the same to be held as a guaranty of the execution of the contract with the state in accordance with its terms by the irrigation district submitting such proposal, in case of the approval of the same and the selection of the lands by the department, which check shall be forfeited to the state in case of failure of said irrigation district to enter into a contract with the state in accordance with the terms of the request.