I searched all over blog land and even had a link party to get ideas. At some point I came across this great resource from Mrs. Lemon's. I took the letter she shared and changed some of it to fit my needs. Then had it translated. Most of the contracts are back and the bags are done. now all I need to do is finish label the books, the bags and check them out to students for next week.
Here is my letter/contract to parents in Spanish and English. The Spanish version is first. I can't take credit for it, as I used most of what Mrs. Lemon's shared on her blog.