Any public official or employee who has, or whose family members have, an interest in a transaction which is the subject of an official act or action shall disclose on the record of the board or commission which performs such official act or to the village administrator, in the case of public employees, the nature and extent of such interest. Nothing herein shall be construed to permit the village, any public official or employee to participate in any transaction or do business with the village following such disclosure if it is otherwise prohibited by law. (Ord. 09-04-10, 4-20-2009)