Multiterm contracts.
Richmond, Va., City Code § 21-58
in effectSec. 21-58. - Multiterm contracts.
(a) Specified period. Unless otherwise provided by law, a contract for goods, services or insurance may be entered into for any period of time deemed to be in the best interest of the City, provided the term of the contract and conditions of renewal or extension, if any, are included in the solicitation and funds are available for the first fiscal period at the time of contracting. Payment and performance obligations for succeeding fiscal periods shall be subject to the availability and appropriation of funds therefor.
(b) Cancellation due to unavailability of funds in succeeding fiscal periods. When funds are not appropriated or otherwise made available to support continuation of performance in a subsequent fiscal period, the contract shall be canceled.
(Code 1993, § 22.1-54; Code 2004, § 74-62; Code 2015, § 21-58; Code 2020, § 21-58)
Source: City of Richmond, Virginia, Code (2026 recodification) and Charter (Municode Library, library.municode.com)URL: https://library.municode.com/va/richmond/codes/code_of_ordinances?nodeId=PTIICICO_CH21PUPR_ARTIICOFOMESOSE_S21-58MUCOFetched: 11/8/2026