Section 326. Public hearings on contract awards

a. Prior to entering into
  any contract for goods, services or construction to be awarded by  other
  than   competitive  sealed  bidding  or  competitive  sealed  bids  from
  prequalified vendors, the value of which exceeds  one  hundred  thousand
  dollars, the agency shall upon reasonable public notice conduct a public
  hearing   to   receive   testimony   regarding  the  proposed  contract.
  Notwithstanding the preceding sentence, if within a period of time after
  such notice, which period of time shall be determined by the procurement
  policy board, no individual requests an opportunity to speak at  such  a
  public  hearing  with respect to any such proposed contract the value of
  which does not exceed one million dollars, then such public hearing need
  not be conducted. The procurement policy board may by rule  exempt  from
  this  public hearing requirement contracts to be let which do not differ
  materially in terms and  conditions,  as  defined  by  the  board,  from
  contracts currently held by the city where the parties to such contracts
  are  the  same;  provided, that under no circumstance may such exemption
  apply to any contract in value exceeding ten million dollars.
    b. The requirements of this section shall not apply to any procurement
  (i) let pursuant to a  finding  of  an  emergency  under  section  three
  hundred fifteen, (ii) required to be made on an accelerated basis due to
  markets  which experience significant, short-term price fluctuations, as
  identified by rule of the board, or (iii) where a public  hearing  would
  disclose   litigation  strategy  or  otherwise  impair  the  conduct  of
  litigation by the city.