No officer of the city shall be permitted to benefit from any contract to which the city is a party when the consideration of the contract is in an amount in excess of $10,000 in any one year, and no contract may be divided for the purpose of evading the requirements of this section. Any such interest in a contract shall void any obligation on the part of the city; provided, the receiving of deposits, cashing of checks, and buying and selling of the warrants and bonds of the city shall not be considered a contract under the provisions of this section. No official shall receive any pay or compensation from the city other than his or her salary. The City Council shall not pay or appropriate any money or other valuable thing to pay a person who is not an officer for the performance of any act, service, or duty which shall come within the proper scope of the duties of any officer of the city; provided, that ownership of less than 1% of the outstanding stock of any class in a corporation shall not constitute an interest within the meaning of this section.
(1973 Code, § 1-902)
Cross-reference:
Conflict of interest; free or underpriced services prohibited, see Neb. RS 17-611 and Neb. RS 18-305 through 18-312