The board shall by record vote let all contracts (other than those excepted by Section 10-20.21 of this Code) for supplies, materials, or work and contracts with private carriers for transportation of pupils involving an expenditure in excess of $35,000 or a lower amount as required by board policy by competitive bidding as provided in Section 10-20.21 of this Code.
The board may delegate to the general superintendent of schools, by resolution, the authority to approve contracts in amounts of $35,000 or less.
For a period of one year from and after the expiration or other termination of his or her term of office as a member of the board:
In addition, the State Board of Education, in consultation with the board, shall (i) review existing conflict of interest and disclosure laws or regulations that are applicable to the executive officers and governing boards of school districts organized under this Article and school districts generally, (ii) determine what additional disclosure and conflict of interest provisions would enhance the reputation and fiscal integrity of the board and the procedure under which contracts for goods and services are let, and (iii) develop appropriate reporting forms and procedures applicable to the executive officers, governing board, and other officials of the school district.
105 ILCS 5/34-21.3