Procedure for limited expenditures

All purchases, leases, or lease-purchase agreements with expenditures of less than the maximum applicable threshold established pursuant to § 12-3-1212 in a fiscal year may be made in the open market without newspaper notice, but must, wherever possible, be based upon at least three (3) competitive bids. Amended by 2024 Tenn. Acts, ch. 513,s 4, eff. 3/1/2024. Acts 1983, ch. 451, § 5; 1995, ch. 179, § 5; 2007 , ch. 135, § 4. All purchases, leases, or lease-purchase agreements with expenditures of less than the maximum applicable threshold established pursuant to § 12-3-1212 in a fiscal year may be made in the open market without newspaper notice, but must, wherever possible, be based upon at least three (3) competitive bids. Amended by 2024 Tenn. Acts, ch. 513,s 4, eff. 3/1/2024. Acts 1983, ch. 451, § 5; 1995, ch. 179, § 5; 2007 , ch. 135, § 4.