Section 0680-08-.04 - CONTRACTS FOR RESOURCES(1) Should the Corporation contract with independent persons or entities for materials, labor, or any other needed resources that the Corporation may lawfully obtain, the Corporation shall adhere to the following protocol: (a) The Corporation shall receive at least three (3) bids to perform a contract unless the Corporation makes a finding in writing that one of the following contingencies exists: 1. That receiving multiple bids would not be in the best interest of the Corporation;2. That the Corporation has previously attempted to obtain multiple bids but was unable to do so; or3. That the qualifications of one (1) vendor make it the only qualified vendor to provide the services required under the contract.(b) All bids shall be in writing, shall disclose the person or entity's name making the bid, the price or cost structure - including total cost under the contract, and such other information as the Corporation may require.(c) No member of the Corporation shall take part in the consideration or discussion of a contract if such person has a direct or indirect interest in any company placing a bid. Direct interest in a company means any ownership interest by the Corporation member or any member of such person's immediate family. Indirect interest includes social, familial, or professional connections which reasonably prevent a member of the Corporation from acting objectively.(d) The Corporation shall select the best vendor taking into account the overall cost, the professional qualifications of the vendor, and the needs of the Corporation.(e) The Corporation may delegate the review and acceptance of bids to one (1) or more persons each having no direct or indirect interest in any of the bidders, as defined above, who shall review all submissions and choose a qualifying person or entity based on overall cost, the professional qualifications of the vendor, and the needs of the Corporation.(f) No member of the Corporation or any entity that they have an interest in directly or indirectly have a financial interest in shall enter into a contract with the Corporation for resources or services.Tenn. Comp. R. & Regs. 0680-08-.04
Original rule filed July 18, 2017; effective 10/16/2017.Authority: T.C.A. § 4-41-105.