Except as provided in KIBC 3.30.110, a purchase, contract, or sale involving expenditure of borough funds or other assets in excess of $25,000 subject to the provisions of this chapter shall not be valid, enforceable or binding upon the borough unless the established requirements have been satisfied and the contract, purchase, or sale approved by the assembly. [Ord. FY2013-11 §2, 2013; Ord. 82-35-O §1, 1982; Ord. 76-6-O §1, 1976. Formerly §3.16.090].