Indiana Code 20-25-4-2. Contracts involving more than $75,000; bidding for supplies and materials
(1) in writing;
Terms Used In Indiana Code 20-25-4-2
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
(A) the board’s business manager; or
(B) another board designated employee; and
(3) approved by the board.
(b) If money for a contract or purchase has been appropriated by the board, the designated employee may make contracts and purchases not exceeding seventy-five thousand dollars ($75,000) in any one (1) transaction. A contract and purchase under this subsection must be reported to the board at its next regular meeting.
(c) A purchase of supplies or materials may not be made from one (1) person, firm, limited liability company, or corporation at any one (1) time or in any one (1) transaction totalling more than ten thousand dollars ($10,000) unless bids for the purchase of the supplies or the materials have been advertised and accepted. The board shall determine the mode and manner of advertising for bids for supplies and materials.
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-3-11-15.]
As added by P.L.1-2005, SEC.9.