[Code 1997, § 2-34; Ord. No. 00-448, 4-6-2000]
Whenever the village board takes formal action to ratify or approve an agreement of any kind, that agreement shall be signed in its final form no later than two village board meeting periods after the original agreement approval. The board may specify longer or shorter periods at the time of adoption of motions to ratify or approve such agreements. The board may also, prior to the expiration of the time for final ratification and execution, extend such period. For purposes of this provision, a meeting period shall be the period of time between regularly scheduled village board meetings.