Sec. 74.1102.  CONTRACTING.  (a)  For a purchase of goods and services under this chapter, the foundation may purchase goods and services that provide the best value for the foundation.
(b)  In determining the best value for the foundation, the purchase price and whether the goods or services meet specifications are the most important considerations.  However, the foundation may consider other relevant factors, including:
(1)  the quality and reliability of the goods and services;
(2)  the delivery terms;
(3)  indicators of probable vendor performance under the contract, including:
(A)  past vendor performance;
(B)  the vendor's financial resources and ability to perform;
(C)  the vendor's experience or demonstrated capability and responsibility;  and
(D)  the vendor's ability to provide reliable maintenance agreements and support;
(4)  the cost of any employee training associated with a purchase;  and
(5)  other factors relevant to determining the best value for the foundation in the context of a particular purchase.
Added by Acts 1999, 76th Leg., ch. 286, Sec. 3, eff. May 29, 1999.