A.
As provided in this article, the Village may, in its discretion, award any purchase contract involving an expenditure of more than $20,000, but excluding contracts in § 126-1B below, on the basis of "best value" as that term is defined in New York State Finance Law § 163. Village Board approval shall be required for all awards of contracts on a best value basis.
B.
The provisions of this article do not apply to purchase contracts necessary for the completion of a public works contract pursuant to Article 8 of the New York Labor Law and any other contract that may in the future be excluded under state law from the best value option. If the dollar thresholds of New York General Municipal Law § 103 are increased or decreased in the future by the State Legislature, the dollar thresholds set forth herein shall be deemed simultaneously amended to match the new General Municipal Law thresholds.