§ 2-202. Competitive bidding—When required.

Where the value of supplies, materials, apparatus or equipment to be sold, exchanged or transferred pursuant to section 2-201 is such that it is reasonably expected to result in a credit to the city in the amount of seven thousand five hundred dollars ($7,500.00) or more, the city administrator, or designated representative, shall invite competitive bidding thereon by legal advertisement in any local daily newspaper. Bids received pursuant to such advertisement shall be opened not less than fifteen (15) days including the date of invitation to bid. The city administrator, or designated representative, shall transmit to the board of directors a tabulation of all bids received. The selected bid shall require approval of the city administrator and the board of directors. All received bids may be rejected.

(Code 1976, § 2-158; Ord. No. 36-01, § 7, 6-19-01; Ord. No. 93-12, § 4, 12-4-12)

State law reference

Board to establish dollar value of property for which bids required, A.C.A. § 14-48-117(5)(A)(iii).