All contracts for work, materials or supplies that may exceed one thousand dollars ($1,000) shall be advertised for bids by publication pursuant to KRS Chapter 424. The contract shall be let to the lowest and best bidder who shall give bonds with approved and ample surety for the faithful performance of the contract. The contract shall be in writing, in duplicate, and shall be accompanied by or refer to plans and specifications for the work to be done, prepared by the chief engineer. The plans and specifica tions shall be made and considered a part of the contract. The contract shall be adopted by the board and signed by its president and by the contractor, and shall become a part of the records of the district.
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