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471.345, 2011 Minnesota Statutes Page 2 of 6 requirements of competitive bidding. All quotations shall be kept or, file for a period of at least one year after their receipt. Subd. 5b. Water tank service contracts. A municipality may. by direct negotiation or through the solicitation of requests for proposals, enter into a multiyear professional service contract for the engineering, repair, and maintenance of a water storage tank and appurtenant facilities owned, controlled, or operated by the municipality, if the contract contains: (1) a provision that the municipality is not required to make total payments in a single year that exceed the water utility charges received by the municipality for that year; (2) a provision requiring that the work performed be done under the review of a professional engineer licensed in the state of Minnesota attesting that the work will be performed in compliance with all applicable Bodes and engineering standards; and (3) a provision that if, at the commencement of the contract, the water tank or appurtenant facilities require engineering, repair, or service in order to bring the water tank or facilities into compliance with federal, state_ or local requirements, the party contracting with the municipality is responsible for providing the engineering, repair, or service. The costs to bring the water tank or facilities into compliance must be itemized separately and charged to the municipality in payments spread over a period of not less than three years from the commencement of the contract, Subd. 6. Applicability of other laws. The purpose of this section is to establish for all municipalities, uniform dollar limitations upon contracts which shall or may be entered into on the basis of competitive bids, quotations or purchase or sale in the open market•1 To the extent inconsistent with this purpose, all laws governing contracts by a particular municipality or class thereof are superseded. In all other respects such laws shall continue applicable. Subd. 7. Minimum labor standards. Nothing in this section shall be construed to prohibit any municipality from adopting males, regulations, or ordinances which establish the prevailing wage rate as defined in section 177.42, as a minimum standard for wages and which establish the hours and working conditions prevailing for the largest number of workers engaged in the same class of labor within the area as a minimum standard for a contractor's employees which most he agreed to by any contractor before the contractor may be awarded any contract for the furnishing of any labor, material, supplies, or service. Subd. 8. Procurement from economically disadvantaged persons. For purposes of this subdivision, the following terms shall have the meanings herein ascribed to therm: (a) "Small targeted group business" means businesses designated under section 16C.16. (b) "Business entity" means anentity organized for profit, including an individual, partnership, corporation, joint venture, association, or cooperative. Nothing in this section shall be construed to prohibit any municipality from adopting a resolution, rule, regulation, or ordinance which on an annual basis designates and sets aside for awarding to small targeted group businesses a percentage of the value of its anticipated total procurement of goods and services, including construction, and which uses either a negotiated price or hid contract procedure in the awarding of a procurement contract under a set -aside program as allowed in this subdivision, provided that any award based on a negotiated price shall https:flu .revisor.rnn.govistatutes.?id=471.34 9/ 11/2012