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(a) Purchases costing more than $50,000 shall be made only after competitive bids have been solicited. The City Council, by resolution, may waive bid requirements for purchases costing more than $50,000, but less than $150,000, subject to CCO 4.15.040.

(b) Competitive bid procedures for purchases estimated to cost more than $150,000 may not be waived by the City Council, except as provided in CCO 4.15.040. [Code 1979 § 06.06.030.]