2-156-110 Interest in city business.

   (a)   Except with respect to the participation of Eligible Persons in Eligible Programs, no elected official or employee shall have a financial interest in his own name or in the name of any other person in any contract, work or business of the city, or in the sale of any article, whenever the expense, price or consideration of the contract, work, business or sale is paid with funds belonging to or administered by the city, or is authorized by ordinance; provided, however, for purposes of this subsection, any of the following shall not constitute a financial interest in any contract, work or business of the city.

      (i)   compensation for property taken pursuant to the city's eminent domain power; and

      (ii)   any interest of a relative which interest is related to or derived from the relative's independent occupation, business or profession.

   (b)   Notwithstanding anything to the contrary in this section, no city official or employee who has contract management authority over any contract, work or business of the city shall have a financial interest in or derive any work-related cash or non-cash compensation from any person which is a contractor, subcontractor, or otherwise a party to that contract, work or business.

   (c)   Unless sold pursuant to a process of competitive bidding following public notice, no elected official or employee shall have a financial interest in the purchase of any property that (i) belongs to the city, or (ii) is sold for taxes or assessments, or (iii) is sold by virtue of legal process at the suit of the city.

   (d)   Except with respect to the participation of Eligible Persons in Eligible Programs, no appointed official shall engage in a transaction described in this section unless the matter is wholly unrelated to the official's city duties and responsibilities.

   (e)   As used in this section, the terms "Eligible Persons" and "Eligible Programs" have the meanings provided in Section 2-44-110 and Section 2-45-130 and shall be determined, as applicable, by the Department of Housing or Department of Planning and Development.

(Prior code § 26.2-11; Added Coun. J. 5-16-90, p. 16204; Amend Coun. J. 4-26-06, p. 75201, § 11; Amend Coun. J. 9-10-08, p. 36550, § 2; Amend Coun. J. 11-19-08, p. 47220, Art. VIII, § 1; Amend Coun. J. 11-17-10, p. 106597, Art. IX, § 2; Amend Coun. J. 11-8-12, p. 38867, § 5; Amend Coun. J. 11-26-13, p. 67481, Art. I, § 8; Amend Coun. J. 7-29-15, p. 3567, § 1; Amend Coun. J. 11-14-18, p. 90308, Art. I, § 29; Amend Coun. J. 2-19-20, p. 14017, § 1)