Multi-Year Contracts Beyond Charter Term. The Charter School shall not enter into a multi-year contract that extends beyond the length of the charter term for the acquisition of goods, materials, services, or supplies unless such contract contains the following provisions:
Multi-Year Contracts Beyond Charter Term. The Charter School shall not enter into a multi-year contract that extends beyond the length of the Charter term for the acquisition of goods, materials, services, or supplies, unless such contract contains the following provisions: The contract shall terminate absolutely and without further obligation on the part of the Charter School at the close of the fiscal year in which the Charter term concludes and at the close of each succeeding Charter term for which the contract may be renewed; The contract may be renewed only by a positive action taken by the Charter School; and The contract shall state the total payment obligation of the Charter School for the original contract term and each renewal shall state the total payment obligation that may be incurred in each subsequent Charter term, if renewed. This section shall not apply to multi-year contracts to lease or purchase facilities, vehicles, or capital equipment.
