Section 35. When an expenditure, other than the compensation of persons employed by the village, exceeds the threshold dollar amount requiring legislative authorization established in Section 735.05 of the Ohio Revised Code, as presently enacted and as it may be amended from time to time by the general assembly, such expenditure shall first be authorized and directed by ordinance of the Village Commission, and no contract involving an expenditure in excess of such sum shall be made or awarded accept upon the approval of the Village Commission.