A contract may be negotiated and awarded without competition when the purchasing agent determines in writing, documenting the basis for the determination, after conducting a good faith review of available sources, that there is only one (1) source practicably available for the required good, service, insurance or construction item. The purchasing agent shall conduct negotiations, as appropriate, to obtain the best price, delivery, and terms. The county shall issue a written notice stating that only one (1) source was determined to be practicably available, and identifying that which is being procured, the contractor selected, and the date on which the contract was or will be awarded. This notice shall be posted in a designated public area or published in a newspaper of general circulation on the day the public body awards or announces its decision to award the contract, whichever occurs first. Public notice may also be published on the county Web site. A record of sole source procurements shall be maintained that lists each contractor's name, the type of each contract, the item(s) procured and the identification number of each contract file.