No officer or employee of the City shall have any interest, direct or indirect, in any contract with or for the City, or be interested directly or indirectly in the sale to the City of any supplies, material, service or property, real or personal, except on behalf of the City as an officer or employee, and except when the City appropriates property for public purposes. Any violation of this section shall constitute malfeasance in office, and any such officer or employee shall thereby forfeit the office or employment.
(Amended Nov. 6, 1990)