(a) the total amount of the contract is not likely to exceed $5,000;

(b) the president, or the responsible official after consultation with the president, shall have determined that (1) the need to obtain high quality services or services having unique or extraordinary features or time requirements substantially outweighs possible cost savings from selection on a competitive basis, or (2) the corporation has other cost control procedures to protect the corporation from paying more for services than necessary; or

(c) the board of directors otherwise determines that competition would be inappropriate.

The foregoing shall not be construed to affect any requirement for competitive bidding binding on the corporation under applicable law. Where selection is made on a competitive basis, the responsible officer shall request detailed proposals from at least three outside contractors known to have experience in the type of service to be performed. Where the total value of the contract is likely to exceed $10,000, the proposals shall be in writing. Proposals shall be evaluated on the basis of all relevant factors such as the outside contractor's experience, reputation, technical qualifications, financial condition, past performance, size, quality and availability of staff, identity of supervisory personnel, possible conflicts of interest, proposed scope of work and proposed fee or commission. No single factor shall necessarily be controlling and the outside contractor submitting the proposal which is most favorable on an overall basis shall be selected, except that the president, or the responsible official, after consultation with the president, may reject any or all proposals if he considers such action in the best interests of the corporation.