Section 41-16-20 of the Code of Alabama, Public Contracts, (as amended by Act 94-207) states that "All contracts of whatever nature for labor, services, work, or for the purchase or lease of materials, equipment, supplies or other personal property, involving fifteen thousand ($15,000.00) or more, made by or on behalf of any state department, board, bureau, commission, committee, institution, corporation, authority, or office shall, except as otherwise provided in this article, be let by free and open competitive bidding, on sealed bids, to the lowest responsible bidder." The University's policy requires bidding for purchases of $5,000 or more.