(A) No contract shall be entered into by the village for goods or services, unless it shall be approved by resolution or ordinance duly passed by the Board of Trustees, except as hereinafter provided.
(B) The President may approve contracts for goods and services where the contract amount is less than $500, without the approval of the Board of Trustees. However, the President shall report any such contract to the Board of Trustees at the Board meeting next following approval of the contract.
(C) All contracts of the village shall be signed by the President.
(D) No contract shall be approved for which there is no prior appropriation.
(E) Any work or other public improvement not paid for in whole or in part by special assessment or special taxation, when the expense thereof shall exceed $5,000, shall:
(1) Be let to the lowest responsible bidder after advertising for bids in one or more newspapers of general circulation within the village or, in the case of public works, in such manner as may be established by the Board of Trustees after consultation with a registered professional engineer; or
(2) Let without bids if authorized by a vote of two-thirds of the Trustees then holding office, the President not voting.
Statutory reference:
Construction of public works by village employees using purchased materials, see 65 ILCS 5/8-9-1
General requirements for contracts, see 65 ILCS 5/8-9-1 et seq.
General requirements for contracts for water, see 65 ILCS 5/11-124-1 et seq.
Interest of village officers in contracts, see 65 ILCS 5/3.1-55-10 and 4-8-6; see also 50 ILCS 105/3 et seq.