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Chapter
7
Purchasing Code |
Sec. 7.26.
Multiterm Contracts
A. Specified Period. Unless
otherwise provided by law, a
contract for supplies or services may be entered into for any
period of time deemed to be in the best interest of the City,
provided the term of the contract and conditions of renewal or
extension, if any, are included in the solicitation and funds are
available for the first fiscal period at the time of contract.
Payment and performance obligations for succeeding fiscal periods
shall be subject to appropriation by City Council of funds
therefor.
B. Cancellation Due to Unavailability
of Funds in Succeeding Fiscal Periods. When funds are not
appropriated or otherwise made available to support continuation
of performance in a subsequent fiscal period, the contract shall
be cancelled and the contractor shall be entitled to reimbursement
for the reasonable value of any nonrecurring cost incurred but not
advertised in the price of the supplies or services delivered
under the contract or otherwise recoverable.
(Ord. of 7-8-1996, Doc. #29463)
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