(1) A procurement unit that conducts a procurement using a bidding process shall evaluate bids:
(a) using the objective criteria described in the invitation for bids; and
(b) to achieve the greatest long-term value to the state and the procurement unit.
(2) Criteria not described in the invitation for bids may not be used to evaluate a bid.
(3) After evaluating bids, the procurement unit shall:
(a)
(i) award a contract as soon as practicable to the responsible bidder who submits the lowest responsive bid; and
(ii) publish the name and bid amount of the bidder to whom the contract is awarded; or
(b)
(i) cancel the invitation for bids without awarding a contract; and
(ii) publish a notice of the cancellation that includes an explanation of the reasons for cancelling the invitation for bids.