For the purpose of this subchapter, the following definitions shall apply unless the context clearly indicates or requires a different meaning.
AGENCY. Includes village boards, commissions, committees and authorities.
CONTRACT. Includes, but is not limited to a purchase order for the procurement of supplies and equipment.
FORMAL BID LIMIT. An amount of $20,000.
PURCHASING AGENT.
(1) The Village President shall act as purchasing agent of the village, unless he or she shall designate another officer or village employee to act as purchasing agent.
(2) Every purchase order shall be approved by the purchasing agent before being issued.
(3) The purchasing agent may adopt rules regulating requisitions and purchase orders.