No officer of the Town shall, in his official capacity, except
by and with the approval of the Select Board, make or pass upon, or
participate in making or passing upon, any sale, contract, agreement
or the terms or amount of any payment in which the Town is interested
and in which such officer has any personal financial interest, direct
or indirect.
No contract shall be awarded for any work or service to be performed
for the Town, and no purchase of materials, supplies or equipment
shall be made, the estimated cost of which is $50,000 or more, unless
competitive bids have been invited by advertising in a newspaper of
general circulation in the Town. The Select Board may exempt a purchase
or contract from any or all of the provisions of this section when,
in its opinion, an emergency exists requiring immediate action to
protect the health and safety of persons or property, or when no reasonable
substitute can be obtained for the article or service to be purchased
or contracted for. Evidence indicating that such emergency exists
shall be furnished, in writing, by the Select Board, and a copy shall
be filed with the Town Clerk and with the Chief Procurement Officer.