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30 | Page <br /> <br />Below is a quick reference chart for procurement methods according to dollar amount: <br />Quick Reference Chart - Procurement Methods <br />Construction, Contracted Services, Goods & Services Contracts Required Approvals <br />Contract or <br />P urchase amount Documentation Director City Manager Council <br />Less than $25,000 <br />• Open Market or <br />• Direct Negotiation if Over $10k (at least 2 <br />quotes) 1 <br />X <br />$25,000- $50,000 <br />• Sealed Bids or Direct Negotiation (at least 2 <br />quotes or sealed bids) 1 <br />• RFPs (Best Value optional), or Cooperative <br />Purchasing Contracts that comply with bidding <br />process (if applicable) <br />• *Competitive bidding is allowed but not required. <br />X X <br />$50,000- $175,000 <br />• Sealed Bids or Direct Negotiation (at least 2 <br />quotes or sealed bids) 1 <br />• RFPs (Best Value optional), or Cooperative <br />Purchasing Contracts that comply with bidding <br />process (if applicable) <br />*Competitive bidding is allowed but not required. <br />X X X <br />$175,000+ <br />• Sealed Bids or <br />Cooperative Purchasing Contracts that comply with <br />bidding process (if applicable)2 X X X <br />1 Quotes must be kept on file for at least one year <br />2 Contracts in excess of MSS 471.345 that include labor require a performance and payment bond