(a) To be valid and binding against the town, any contract of indemnification, agreement to hold another party harmless, or offer to indemnify or hold another party harmless, in which the town is an interested party and indemnifies or holds harmless another person or legal entity must be signed, endorsed, or executed as otherwise provided by this Code and the Town Charter. No contract of indemnification, agreement to hold another party harmless, or offer to indemnify or hold another party harmless, in which the town is an interested party and indemnifies, or holds harmless another person or legal entity shall be valid and binding against the town, unless said indemnification has been approved by the Town Commission and is otherwise consistent with this Code.
(b) Adding a party to an insurance policy of the town as an “additional insured” shall not be considered to be an act of indemnification or an agreement to otherwise hold another party harmless pursuant to this section.
(c) Any contract in which the town is an interested party which is signed or executed in violation of this section is an ultra vires act and is null and void.
(Ord. 2008-01, adopted 2-20-08)