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<br />bids shall be retained for at least one year after the completion of the contract or purchase or until the annual <br />audit for the year of purchase is completed, whichever is longer. <br /> <br />4.2 . Sealed BidslMajor Purchases <br />. A formal sealed bid procedure is required for all purchases in excess of$100,000 except professional <br />services. <br />. City Council approves all bids and specifications. <br />. A published notice is required in the official city newspaper at least ten days in advance of the bid <br />opening. The notice may also be published on the city's official website. <br />. All bid openings are to be administered by the City Administrator and/or the originating department. <br />. The preparation of all specifications are to be the responsibility of the City Administrator and/or the <br />originating department. <br />. Required authorization for plans and specifications is the responsibility of the City Administrator and/or <br />the originating department. <br />. The City Council must formally approve the bid contract. <br /> <br />4.3 QuoteslIntermediate Purchases <br /> <br />If a purchase is estimated to exceed $15,000 but not to exceed $100,000, the purchase may be made either by <br />sealed bids or by direct negotiation based upon quotations. If a purchase is made in this range, staff members <br />are required to obtain at least two written quotes and the quotations must be kept on file for at least one year. <br />All such quotes must be forwarded to the Finance Department with the purchasing documents. <br /> <br />4.4 Professional Service Contracts: <br /> <br />The city retains outside professional services in the area of: <br />. Legal <br />. Planning <br />. Auditing <br />. Assessing <br />. Engineering <br />. Banking <br />. Towing <br /> <br />Those contracts for professional services which are inc1udedin the City's General Fund Budget will be <br />approved annually with formal adoption of the City's Budget. <br /> <br />4.5 Request for Proposals (RFP) <br /> <br />. RFP's will generally be used to solicit proposals for professional services. <br />. An RFP will automatically be solicited for those services that exceed a City cost of$15,000 or have a <br />value to the solicitor in excess of$15,000 (towing contract). <br />. An RFP will be solicited every three years (unless specifically extended by City Council) for standard <br />city services related to such services as banking, auditing, legal and towing services <br />. Authorization by City Council will be given to staff to issue a RFP. <br />. All RFP's will be advertised in the city's official newspaper and on the city's official website. <br />. City Council must formally approve the proposal. <br /> <br />3 <br />