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<br />Revised 8/7/06 City of Louisville <br /> Purchasing Policy & Purchasing Card Program Requirements <br />Informal Bids <br /> All purchases within the financial parameters of $2,500 to $14,999 shall require <br /> informal bidding procedures. <br /> . For purchases between $2,500 and $4,999 the Requesting Department shall <br /> obtain and document a minimum of three (3) verbal quotations. If three (3) <br /> quotations are not obtained, valid justification must be provided and <br /> approved by the City Manager. The City Manager reserves the right to call <br /> for formal bids at any time. <br /> . For purchases between $5,000 and $14,999 the Requesting Department <br /> shall obtain and document a minimum of three (3) written quotations. If three <br /> (3) quotations are not obtained, valid justification must be provided and <br /> approved by the City Manager. The City Manager reserves the right to call <br /> for formal at any time. <br />Steps to complete an informal bid: (unless otherwise stated responsibility falls on <br />requesting department) <br />1. Develop specifications. Upon finalization of the specifications, prepare any <br /> documents required by the informal bid. <br />2. Mail a copy of specifications to identified vendors. <br />3. Post a copy of specifications to the City's official website www.ci.louisville.co.us. <br />4. Evaluate the bid results and determine which bid serves the City's best interests. <br />5. Prepare a Purchase Requisition and obtain approval from City Manager. <br />6. Submit the Purchase Requisition and quotes to the Finance Department. If the <br /> recommended vendor has not submitted the low bid, ensure that there is adequate <br /> justification for the higher bid. <br />7. The Finance Department issues the Purchase Order. <br />State Bids: <br />State Bids are quotations or bids solicited by the buyer through the State of Colorado (Bid <br />Information and Distribution System). Bids are permitted for any equipment or vehicle <br />purchases on items priced from $15,000 to $150,000. This process would override the <br />formal bidding process and procedures listed above. <br />Effective September 1, 2006 10 <br />