Section 5-17-1-2 - Advertising for purchase of materials, etc., and lease of equipment; specifications; notice of time and place for receiving bids; procedures; open market; submission of certified check or bond by bidder; rejection(a) In all cases of advertising for the purchase of materials, equipment, goods and supplies, and the lease of equipment, the purchaser shall prepare specifications describing with reasonable particularity the kind, quantity and quality of all materials, equipment, goods, and supplies which may be needed for any designated period. It may be provided in such specifications that bids will be received and contracts let, separately, for each line or class of materials, equipment, or supplies, or the specifications may provide that bids will be received and contracts let for the purchase or lease of an unspecified number of items at a fixed price per unit.(b) Notice of the time and place for receiving of bids for the purchase or lease shall be given in accordance with IC 5-3-1.(c) If the cost of the materials, equipment, goods, and supplies to be purchased does not exceed ten thousand dollars ($10,000) or the equipment to be leased does not exceed five thousand dollars ($5,000), the purchaser may invite bids from not less than three (3) persons, firms, limited liability companies, or corporations, known to deal in the particular class or classes of materials, equipment, goods, or supplies described in the specifications, by mailing to each person, firm, limited liability company, or corporation a copy of such specifications not less than three (3) days before the time fixed for receiving bids. Said purchaser or purchasers shall, after a satisfactory bid is received, award a contract to the lowest and best bidder for each class of supplies, equipment, goods, or materials required, except that if less than three (3) bids are received, to the best bid so received.(d) If any purchaser invites or advertises for bids for any material, materials, equipment, goods or supplies, pursuant to the provisions of this chapter, and does not receive a valid bid therefor or for any item thereof, in that event any such item or items of material, materials, equipment, goods or supplies so sought or advertised for may be purchased or equipment may be leased on the open market without further advertisement for bids.(e) Any bidder may submit with his bid a certified check or the bond of a surety company admitted to do business in this state in the amount determined and specified by the purchasing agent in the notice of the letting.(f) The purchaser may reject any and all bids and ask for new bids.(Formerly: Acts 1945, c.99, s.2; Acts 1969, c.483, s.2.) As amended by Acts1977 , P.L. 61, SEC.2; Acts1979 , P.L. 45, SEC.2; Acts1981 , P.L. 57, SEC.14; P.L. 38-1984, SEC.1; P.L. 8-1993, SEC.69.