It was the second straight monthly decline, the F. W. Dodge division of McGraw-Hill Information Systems Co. reported. February contracts declined to an annual rate of $227.6 billion, following a 3% dip in January contracts. Public works fell a sharp 27%, precipitated by declines in highway construction and water projects. Both drops were due to dwindling federal funds, Dodge said. Dodge said the Northeast and West showed narrow gains in contracts.