(a) The purchase of all supplies, equipment, and materials, when the expenditure required exceeds two hundred thousand dollars ($200,000) shall be by contract let to the lowest responsible bidder, or, in the authorityâs discretion, to the responsible bidder who submitted a proposal that provides the best value to the authority on the basis of the factors identified in the solicitation. âBest valueâ means the overall combination of quality, price, and other elements of a proposal that, when considered together, provide the greatest overall benefit in response to the requirements described in the solicitation documents. (b) To the extent practicable, the authority shall obtain a minimum of three quotations, either written or oral, that permit prices and terms to be compared whenever the expected expenditure required for the purchase of supplies, equipment, or materials exceeds five thousand dollars ($5,000), but does not exceed two hundred thousand dollars ($200,000). (c) Notice requesting bids shall be published at least once in a newspaper of general circulation and on the authorityâs procurement internet website, which publication shall be made at least 10 days before the bids are received. The board may reject any and all bids and readvertise at its discretion. (d) This section applies solely to the procurement of supplies, equipment, and materials, and shall not apply to construction contracts.
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