Mode of executing contracts and transfer of property.

(1) Every contract made by or onbehalf of a Municipality whereof the value of amount exceed one hundred rupees shall, be in writing and shall be signed by two members, of whom the Chairperson or a Vice-Chairperson shall be one and countersigned by the Secretary: Provided that when the powers of entering into any contract on behalf the Municipality has been delegated under section 63, the signature or signatures of the members or members (or the Signature of the Secretary) to whom the power has been delegated shall be sufficient. (2) Every transfer of immovable property belonging to a Municipality other than a Lease for a term not exceeding one year shall be made by an instrument in writing, executed by the Chairperson or a Vice-Chairperson and by atleast two members of the Municipality whose execution thereof shall be attested by the Secretary. (3) No contract or transfer executed otherwise than in conformity with the provisions of this section shall be binding on a Municipality.