Iowa Code 99G.23 – Vendor bonding, tax filing, and competitive bidding
Current as of: 2023 | Check for updates
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1. The authority may purchase, lease, or lease-purchase such goods or services as are necessary for effectuating the purposes of this chapter. The authority may make procurements that integrate functions such as lottery game design, lottery ticket distribution to retailers, supply of goods and services, and advertising. In all procurement decisions, the authority shall take into account the particularly sensitive nature of the lottery and shall act to promote and ensure security, honesty, fairness, and integrity in the operation and administration of the lottery and the objectives of raising net proceeds for state programs.
Terms Used In Iowa Code 99G.23
- Authority: means the Iowa lottery authority. See Iowa Code 99G.3
- Board: means the board of directors of the authority. See Iowa Code 99G.3
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Net proceeds: means all revenue derived from the sale of lottery tickets or shares and all other moneys derived from the lottery, less operating expenses. See Iowa Code 99G.3
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
- Ticket: means any tangible evidence issued by the lottery to provide participation in a lottery game. See Iowa Code 99G.3
- Vendor: means a person who provides or proposes to provide goods or services to the authority pursuant to a major procurement contract, but does not include an employee of the authority, a retailer, or a state agency or instrumentality thereof. See Iowa Code 99G.3
2. Each vendor shall, at the execution of the contract with the authority, post a performance bond or letter of credit from a bank or credit provider acceptable to the authority in an amount as deemed necessary by the authority for that particular bid or contract.
3. Each vendor shall be qualified to do business in this state and shall file appropriate tax returns as provided by the laws of this state.
4. All major procurement contracts must be competitively bid pursuant to policies and procedures approved by the board unless there is only one qualified vendor and that vendor has an exclusive right to offer the service or product.