No officer or employee of the Municipality shall have any substantial financial interest, direct or indirect, in any contract with or sale to the Municipality of any material, supplies, or services, or any lands, or interest in lands. Any such person violating the provisions hereof shall forfeit his position and any such sale or contract shall be voidable at the option of the Council.
This provision shall not apply where a Court shall order the purchase or sale of property, whether real or personal, owned by or in which such an officer or employee has an interest therein, to the Municipality. No ordinance, resolution or other action taken by Council, nor any action taken by any other officer or employee of the Municipality, shall be invalidated or made ineffective because any officer or employee has such a financial interest in any such contract or sale, except that such sale or contract may be voided at the option of Council as hereinabove provided.