If after advertising for bids for purchase of materials, supplies or equipment and either no bids or no firm competitive bids are received, the mayor, or his or her interim successor, may reject all the bids in the case of no firm competitive bid being received and may negotiate a contract for the purchase of the materials, supplies or equipment at the most advantageous price, provided that the materials, supplies or equipment meet the specifications of the original advertisement for bids. The mayor, or his or her interim successor, shall contact and attempt to obtain competitive quotations from at least three suppliers. The mayor, or his or her interim successor, shall maintain a record of the names of the suppliers, the quotations received and the procurement procedures used in purchasing. The contract may include a procedure for adjusting prices to meet changing market conditions not within the control of the vendor. The adjustments may not result in increases in the profit of the vendor and shall be supported by a written justification filed with the purchasing agent of the city.
(1992 Code,§§ 34.5-9, 34.5-10) (Ord. 28-95, passed 2-21-1995; Ord. 75-11, passed 10-3-2011)