Section 14-22-104 - Purchases permitted(a) A purchase of a commodity made by a county purchasing official with county funds, except those specifically exempted by this chapter, shall be made as follows: (1) Formal bidding is required in each instance in which the estimated purchase price equals or exceeds thirty-five thousand dollars ($35,000);(2) An open market purchase may be made of a commodity if the purchase price is less than thirty-five thousand dollars ($35,000); and(3) A purchasing official shall not parcel or split any items of commodities or estimates with the intent to change the classification or to enable the purchase to be made under a less restrictive procedure.(b)(1) Beginning January 1, 2025, and on each January 1 at subsequent five-year intervals, the amount under subsection (a) of this section shall be adjusted to reflect the percentage increase in the Consumer Price Index for All Urban Consumers or its successor, as published by the United States Department of Labor for the five (5) years immediately preceding the percentage increase, and rounded to the nearest whole number.(2) Following a percentage increase under subdivision (b)(1) of this section, the Department of Finance and Administration shall provide each county and Arkansas Legislative Audit with the percentage increase and the corresponding updated amounts under this section.Amended by Act 2021, No. 435,§ 2, eff. 7/28/2021.Acts 1965 (1st Ex. Sess.), No. 52, § 3; 1975, No. 439, § 3; 1975, No. 617, § 3; 1985, No. 745, § 2; A.S.A. 1947, § 17-1603; Acts 1995, No. 431, § 2; 2003, No. 209, § 2; 2007, No. 249, § 2.