A village officer may make purchases or award contracts not in excess of $50 to the highest or lowest bidder, depending on whether the village is expending or receiving money, without authorization by the Board of Trustees or procurement of bids as set forth in this chapter. The sum herein authorized to be expended shall constitute the total payment for such contract or purchase and shall not be expended as an installment or partial payment on a larger amount nor shall it be expended in any manner to circumvent directly or indirectly the other provisions of this chapter providing for authorization or bidding when a larger sum is to be expended.
('73 Code, § 4.05)