(1) A board of education of a school district shall not expend any moneys in excess of the amount appropriated by resolution for a particular fund.
(2) Repealed.
(3) Except as provided otherwise by this section, any obligation of a contract, verbal or written, which requires expenditures contrary to the provisions of subsection (1) of this section shall be void, and no school district moneys shall be paid thereon.
(4) Notwithstanding any provisions of this section to the contrary, the board of education of a school district may enter into a contract for administrative services with a term not to exceed five years, for capital outlay purposes in accordance with articles 32, 42, 43, and 45 of this title, or for the purchase of real property by local college districts in accordance with section 23-71-122 (1)(c), C.R.S. Such a contract shall be valid and enforceable between parties to the contract. The provisions of this subsection (4) shall be subject to annual appropriation by the general assembly, the board of education, or the governing board.
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