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Vadnais Lake Area Water <br />Management Organization <br />Management Information <br />Subd. 4. Contracts from $10,000 to $35,000 for municipalities of less than 2,500 <br />population; $50,000 for all others. If the amount of the contract is estimated to exceed $10,000 <br />but not to exceed $35,000 for municipalities of less than 2,500 population, or $50,000 for all <br />others, the contract may be made either upon sealed bids or by direct negotiation, by obtaining <br />two or more quotations for the purchase or sale when possible, and without advertising for bids <br />or otherwise complying with the requirements of competitive bidding. All quotations obtained <br />shall be kept on file for a period of at least one year after receipt thereof. <br />Subd. 5. Contracts less than $10,000. If the amount of the contract is estimated to be <br />$10,000 or less, the contract may be made either upon quotation or in the open market, in the <br />discretion of the governing body. If the contract is made upon quotation it shall be based, so far <br />as practicable, on at least two quotations which shall be kept on file for a period of at least one <br />year after their receipt. <br />This report is intended solely for the information and use of those who have responsibility <br />for oversight of the financial reporting process. <br />July 24, 2003 <br />Ktg gA171,( <br />HLB TAUTGES REDPATH, LTD. <br />Certified Public Accountants <br />10 <br />