47.1. Where the council delegates to the executive committee the power to enter into contracts, the executive committee shall table, at each regular meeting of the council, a list of all contracts involving an expenditure exceeding $25,000 it has entered into since the last meeting at which it tabled such a list.
The executive committee shall also table a list of all contracts involving an expenditure exceeding $2,000 entered into by the executive committee since the beginning of the fiscal year, with the same contracting party if those contracts involve a total expenditure exceeding the applicable amount under the first paragraph. The executive committee shall, after such tabling and until the end of the fiscal year, table at each regular meeting of the council a list of all contracts involving an expenditure exceeding $2,000 it has entered into with the same contracting party since the last meeting at which it tabled such a list.
The executive committee shall also table a list of the contracts referred to in the first and second paragraphs but entered into by an employee to whom the executive committee delegated its power to enter into contracts under section 48.
The list shall indicate, for each contract, the name of the contracting party, the amount of the consideration and the object of the contract.