APPROVAL OF CONTRACTS | Policy Manual | New Albany-Floyd Co. School Corp.

6330 - APPROVAL OF CONTRACTS

All contracts obligating the School Corporation or the School Board, whether written or oral, and however named (contract, agreement, amended contract, amended agreement, memorandum of understanding, lease, note, etc.) shall be approved by the Board. Contracts not approved by the Board shall be considered null and void.

The following contracts shall be reviewed by legal counsel before Board approval:

any contract requiring an Opinion of Counsel as a condition of closing a lease, bond, tax warrant, or similar transaction; and
any contract waiving any legal rights of the Corporation or the Board.

Please note that contracts, with limited exceptions such as contracts requiring more than a year to perform or involving the purchase or lease of real estate, may be written or oral. An oral contract may be formed by an offer (by the vendor or the Corporation), and acceptance (by the Corporation or the vendor). This policy applies to both written and oral contracts.