After obtaining any approval required by law or regulation, the procurement officer shall award the procurement contract to the responsible bidder who submits the responsive bid that: Is the lowest bid price; or If the invitation for auction bids so provides, is the lowest evaluated bid price. If, after bids have been received, a procurement officer determines that only one responsible bidder has submitted a responsive bid, the unit may negotiate the procurement contract with that one bidder under the procedures for sole source procurement in COMAR 21.05.05. After bids have been received, a procurement officer may award a procurement contract on the basis of revised bids if: All bids are rejected under COMAR 21.06.02; All bid prices exceed the funds available for the procurement; or With the approval of the head of a primary procurement unit or a designee, the procurement officer determines that all bids are unreasonable as to at least one requirement and the delay that would result from issuing a new invitation for auction bids with revised specifications or quantities would be fiscally disadvantageous or otherwise not in the best interests of the State.