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Purchasing Policy <br />Page Two <br />a] <br />b) Purchases from $10,000 to $15,000. If the amount of <br />the purchase is estimated to exceed $10,000, but not <br />to exceed $15,000, the purchase may be made either by <br />advertisement and the receipt of sealed bids, or by <br />ohtnlning two or more written quotaL loss from suppliers <br />at the discretion of the City Council. The purchase <br />shall be awarded by the City Council. <br />c) Purchases from $1,000 to $10,000. If the amount of the <br />purchase is estimated to exceed $1,000, but not Lo <br />exceed $10,000, the purchase may be made only after <br />obtaining two or more written quotations from suppliers <br />and the purchase shall be awarded by the City Council. <br />d) Purchases from $500 to $1,000. If the amount of the <br />purchase is estimated to exceed $500, but not to exceed <br />$1,000, the purchase may be made only after obtaining <br />two or more verbal quotations from suppliers and <br />recording them on paper and attaching same to the <br />purchase order. <br />e) Purchases under $500. If the amount of the purchase is <br />estimated to be under $500, quotations are not required <br />but are encouraged. 11 <br />2.02 FORMAL BIDS <br />All purchases which require advertisement and the receipt <br />of sealed bids shall be awarded by the City Council. <br />2.03 STATEMENT OF GENERAL CONDITIONS <br />A statement of "General Conditions", as approved by the <br />City Council, may be included with all specifications sub- <br />mitted to suppliers for their bids. These general con- <br />ditions may be incorporated in all contracts awarded for <br />the purchase of supplies, equipment, or services. <br />2.04 COMPLIANCE wITM LEGAL PROVISIONS <br />The purchasing procedures employed shall comply with all <br />applicable laws and regulations of the State and of the <br />City of Mounds View. <br />0 <br />