A. Prohibited Interests:
1. No covered individual shall be interested, directly or indirectly, in his or her own name or in the name of any other person, association, trust or corporation, in any contract, work or business of the village, or in the sale of any article, whenever the expense, price or consideration of the contract, work, business or sale is paid either from the village treasury or by any assessment levied by statute or village ordinance.
2. No covered individual shall be interested, directly or indirectly, in the purchase of any property which:
a. Belongs to the village; or
b. Is sold for taxes or assessments; or
c. Is sold by virtue of legal process at the suit of the village.
B. Exemptions For Village President And Trustees: (The dollar amounts included in the following paragraphs are those provided by state law.):
1. Less Than Seven And One-Half Percent Ownership Share: Any elected or appointed village president or village trustee may provide materials, merchandise, property, services or labor to the village if:
a. The contract is with a person, firm, partnership, corporation or cooperative association in which such interested member of the governing body of the village has less than a seven and one-half percent (71/2%) share in the ownership; and
b. Such interested member publicly discloses the nature and extent of his or her interest prior to or during deliberations concerning the proposed award of the contract; and
c. Such interested member abstains from voting on the award of the contract (though the member shall be considered present for the purpose of establishing a quorum); and
d. Such contract is approved by a majority vote of those members presently holding office; and
e. The contract is awarded after sealed bids to the lowest responsible bidder if the amount of the contract exceeds one thousand five hundred dollars ($1,500.00), but the contract may be awarded without bidding if the amount is less than one thousand five hundred dollars ($1,500.00); and
f. The award of the contract would not cause the aggregate amount of such contracts so awarded to the same person, firm, association, partnership, corporation, or cooperative association in the same fiscal year to exceed twenty five thousand dollars ($25,000.00).
2. Contracts For Less Than Two Thousand Dollars: Any elected or appointed village president or village trustee may provide materials, merchandise, property, services or labor if:
a. The award of the contract is approved by a majority vote of the governing body of the village; provided, that any such interested member shall abstain from voting; and
b. The amount of the contract does not exceed two thousand dollars ($2,000.00); and
c. The award of the contract would not cause the aggregate amount of all such contracts so awarded to the same person, firm, association, partnership, corporation, or cooperative association in the same fiscal year to exceed four thousand dollars ($4,000.00); and
d. Such interested member publicly discloses the nature and extent of his or her interests prior to or during deliberations concerning the proposed award of the contract.
e. The interested member abstains from voting on the contract (though the member shall be considered present for the purpose of establishing a quorum).
3. Public Utility Services: A contract for the procurement of public utility services by the village with a public utility company is not barred by this section by one or more members of the corporate authorities being a covered individual of the public utility company or holding an ownership interest of no more than seven and one-half percent (71/2%) in the public utility company.
4. Financial Services With A Local Bank: Nothing contained in this section shall preclude a contract of deposit of monies, loans or other financial services by the village with a local bank or local savings and loan association, regardless of whether the village president or a trustee is interested in such bank or savings and loan association as a covered individual or as a holder of less than seven and one-half percent (71/2%) of the total ownership interest. Such interested member of the corporate authorities must publicly state the nature and extent of his or her interest during deliberations concerning the proposed award of such a contract, but shall not participate in any further deliberations concerning the proposed award. A member abstaining from participation in deliberations and voting under this subsection may be considered present for purposes of establishing a quorum. Such interested member or members shall not vote on such a proposed award. The award of such a contract shall require approval by a majority vote of those members presently holding office. Consideration and award of any such contract in which a member or members are interested may only be made at a regularly scheduled public meeting of the village board of trustees.
C. Exemptions For Employees Or Committee Or Commission Members: Any employee or committee or commission member may provide materials, merchandise, property, services or labor if:
1. Less Than Seven And One-Half Percent Ownership Share:
a. The contract is with a person, firm, partnership, association, corporation, or cooperative association in which such employee has less than a seven and one-half percent (71/2%) share in the ownership; and
b. The contract is awarded after sealed bids to the lowest responsible bidder if the amount of the contract exceeds one thousand five hundred dollars ($1,500.00), or awarded without bidding if the amount of the contract is less than one thousand five hundred dollars ($1,500.00); and
c. The award of the contract would not cause the aggregate amount of all such contracts so awarded to the same person, firm, association, partnership, corporation or cooperative association in the same fiscal year to exceed twenty five thousand dollars ($25,000.00).
2. Contracts For Less Than Two Thousand Dollars: In addition, any employee or committee or commission member may provide materials, merchandise, property, services or labor, regardless of the size of ownership interest the employee or committee or commission member may have in the contracting entity, if:
a. The amount of the contract does not exceed two thousand dollars ($2,000.00); and
b. The award of the contract would not cause the aggregate amount of all such contracts so awarded to the same person, firm, association, partnership, corporation, or cooperative association in the same fiscal year to exceed four thousand dollars ($4,000.00).
3. Public Utility Contracts: A contract for the procurement of public utility services by the village with a public utility company is not barred by this section when an employee or committee or commission member is also a covered individual of the public utility company, or when an employee or committee or commission member holds an ownership interest of any size in the public utility company.
4. Financial Services By A Local Bank: Nothing in this section shall preclude a contract of deposit of monies, loans or other financial services by the village with a local bank or local savings and loan association regardless of whether a village employee or committee or commission member is interested in such bank or savings and loan association as a covered individual or a holder of an ownership interest of any size in such an institution.
5. Purchase Of Property At Auction: Nothing in this section shall prohibit any employee or committee or commission member from bidding on and purchasing property auctioned by the village at an auction open to all members of the general public, whether the auction is sponsored by the village or by an association of municipalities, such as the Northwest Municipal Conference. (2016 Code)