§ 4.12.160. Multi-year 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 metropolitan government provided the term of the contract and any renewals or extensions do not exceed sixty months. The term of the contract and conditions of renewal or extension, if any, must be included in the solicitation and funds must be available for the first fiscal period at the time of contracting. Payment and performance obligations for succeeding fiscal periods shall be subject to the availability and appropriation of funds therefor.

B.

Use. The standards board may, by regulation, establish conditions for use of multi-year contracts, set maximum terms for contracts for types of supplies, services, or construction items, and prescribe specific contract provisions including, but not limited to, cancellation by the metropolitan government at any time with reasonable notice.

C.

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 canceled.

(Ord. 92-210 § 1 (3-503), 1992)