A.   Authorized Contracts: The Village may use any type of contract which is appropriate to the procurement and which will promote the best interests of the Village.
   B.   Multiterm Contracts:
      1.   Subject to the limitations imposed by law, a contract for supplies or services may be entered into for any period of time deemed to be in the best interests of the Village, provided the term of the contract and conditions of renewal or extension, if any, are included in the solicitation, and funds are available for the first fiscal period at the time of contracting. The contract shall provide that the payment and performance obligations for succeeding fiscal periods shall be subject to cancellation and termination without penalty dependent upon the availability and appropriation of funds therefor.
      2.   Prior to the utilization of a multiterm contract, it shall be determined in writing:
         a.   That the estimated requirements cover the period of the contract and are reasonably firm and continuing.
         b.   That such a contract will serve the best interests of the Village by encouraging effective competition or otherwise promoting economies in Village procurement.
      3.   When funds are not appropriated or otherwise made available to support continuation of performance in a subsequent fiscal period, the contract shall be canceled.
   C.   Restrictions On Awarding Contracts: Multiple source awards shall not be made when a single award will meet the Village needs without sacrifice of economy or service. Awards shall not be made for the purpose of dividing the business, making available product or supplier selection to allow for user preference unrelated to utility or economy, or avoiding the resolution of tie bids. Any such awards shall be limited to the least number of suppliers to meet the valid requirements. (Prior ord.)