151.02 CONTRACTS IN EXCESS OF $50,000.

(a) When an expenditure, other than the compensation of Village employees, exceeds fifty thousand dollars ($50,000), such expenditure shall first be authorized and directed by an ordinance duly enacted by Council.
(Ord. 12-135. Passed 10-4-12.)

(b) When required by applicable provisions of the Revised Code, said contract shall be awarded only after advertisement and bidding. Said contract shall be awarded to the lowest and best bidder, as selected by the Village Council, acting in its discretion.

(c) The Village shall not be obligated on any such contract unless and until the contract is executed in the name of the Village and signed on its behalf by the Village Administrator and the Fiscal Officer.

(Ord. 03-128. Passed 11-20-03.)

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