(a) The board of trustees may provide for sole source procurement contracts in accordance with the provisions of this section.

(b) (1) Whenever the procurement officer determines that there is only one available source for the subject of a procurement contract, the procurement officer may award the procurement contract without competition to that source.

(2) Before awarding a procurement contract to a sole source, the procurement officer shall obtain:

(i) The approval of the board of trustees; and

(ii) Any other approval required by law.