Approval of expenditures - Contracts. 1. Upon approval of a reorganization plan by the electors, in accordance with section 15.1-12-11, a school board for the reorganized district must be elected at the next regular school district election or at a special election called by the county superintendent of schools for that purpose. The first school board election in a newly reorganized district is governed by chapter 15.1-09. 2. Members of newly formed school boards representing reorganized districts may not enter upon the duties of office until the time specified in section 15.1 -12-18, except as provided in sections 15.1-12-15 and 15.1-12-16. 3. Unless otherwise directed by law or by the reorganization plan, between the date on which the reorganization is approved and the date on which the reorganization becomes effective, the board of a school district participating in the reorganization must obtain written consent from the board of every other school district participating in the reorganization before it: a. Enters into any new contract, whether oral or written, which financially obligates the district; b. Renews any existing contract, whether oral or written, which financially obligates the district; or c. Purchases any goods or services, whether in a single or in multiple transaction, if the total value of the goods or services exceeds three thousand dollars, provided the requirements of this subdivision do not extend to salaries, benefits, or other compensation paid or payable to school district personnel.
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