430                               LAWS OF MARYLAND                       [CH. 160

the Governor, and to the Director of the Department of Fiscal
Services.

44. 43. Reports.

The Authority shall make and publish an annual report on its
programs, operations and finances, which shall be distributed in the
same manner and at the same time as provided in Section 45 44 for
the report of annual audit and shall be made available to members
of the public upon request. The Authority may also prepare, publish
and distribute such other public reports and informational materials
as it may deem necessary or desirable. All financial records, reports
and documents of the Authority shall be public records and open
to public inspection under the reasonable regulations prescribed by
the Authority.

45. 44. Insurance.

(a)    Coverage. The Authority shall self-insure or procure and
maintain insurance against loss or damage to any of its properties
and against liability for injury to persons or property. The Board
may also purchase insurance against loss of revenue from any cause
whatsoever. Such insurance coverage shall be in such form and
amount as the Board may determine, subject to the requirements of
any agreement arising out of issuance of bonds or other obligations
by the Authority.

(b)    Leased property. All contracts for the lease of Authority
property shall require the lessee to procure, maintain and pay for
insurance to reasonably protect the Authority's liability related
thereto, and further to insure the leased property in the Authority's
name for its full value against all reasonable and insurable risks.
Such contracts shall contain a clause whereby the lessee agrees to
indemnify and hold the Authority harmless for the negligence of
the lessee, his employees and agents.

46. 45. Purchasing.

(a) Procedure; competitive bids. Contracts for the construction,
reconstruction or improvement of any transit facility when the
expenditure required exceeds ten thousand dollars ($10,000) and
contracts for the purchase of supplies, equipment and materials when
the expenditure required exceeds five thousand dollars ($5,000)
shall be advertised and let upon sealed bids to the lowest responsible
bidder. Notice requesting such bids shall be published in a manner
reasonably likely to attract prospective bidders, which publication
shall be made at least ten days before bids are received and in at
least two newspapers of general circulation in the District. The
Authority may reject any and all bids and readvertise in its dis-
cretion. If after rejecting bids the Authority determines and re-
solves that, in its opinion, the supplies, equipment and materials
may be purchased at a lower price in the open market, the Authority
may give each responsible bidder an opportunity to negotiate a price
and may proceed to purchase the supplies, equipment and materials
in the open market at a negotiated price which is lower than the
lowest rejected bid of a responsible bidder, without further ob-
servance of the provisions requiring bids or notice. The Authority
shall adopt rules and regulations to provide for purchasing from the