Rejection of bids. A board of education may reject all bids for any of the following reasons:
a. The lowest bid substantially exceeds the cost estimates for the goods or services;
b. The lowest bid substantially exceeds the board of education's appropriation for the goods or services;
c. The board of education decides to abandon the project for provision or performance of the goods or services;
d. The board of education wants to substantially revise the specifications for the goods or services;
e. The purposes or provisions or both of N.J.S.18A:18A-1 et seq. are being violated; and
f. The board of education decides to use the State authorized contract pursuant to N.J.S.18A:18A-10.