(A) No public servant shall directly or through others undertake, execute, hold, or enjoy, in whole or in part, any contract made, entered into, awarded, or granted by the city or a city agency, except as follows:
(1) The prohibition in subsection (A) of this section shall not apply to contracts entered into before an elected official filed as a candidate for elected public office, before an officer was appointed to a public agency or office, or before an employee was hired by the participant served by any such public servant. However, if any contract entered into by a participant or with a public servant before he or she became a candidate, was appointed to office, or was hired as an employee, is renewable after he becomes a candidate, is elected to public office, assumes the appointed office, or is hired as an employee, then the prohibition in subsection (A) of this section shall apply to the renewal of the contract.
(2) The prohibition in subsection (A) of this section shall not apply if the contract is awarded after public notice and competitive bidding, unless the public servant is authorized to participate in establishing the contract specifications, awarding the contract, or managing or taking part in contract performance after the contract is awarded. If the public servant has any of the authorities set forth in the preceding sentence, then the public servant shall have no interest in the contract, unless the requirements set forth in paragraph (3) below are satisfied.
(3) The prohibition in subsection (A) of this section shall not apply in any case where the following requirements are satisfied:
(a) The specific nature of the contract transaction and the nature of the public servant's interest in the contract are publicly disclosed at a meeting of the legislative body of the participant served by the public servant.
(b) The disclosure is made a part of the official record of the legislative body of the participant served by the public servant before the contract is executed.
(c) A finding is made by the legislative body of the participant served by the public servant that the contract with the public servant is in the best interests of the public and the participant because of price, limited supply, or other specific reasons.
(d) The finding is made a part of the official records of the legislative body of the participant served by the public servant before the contract is executed.
(B) Any violation of this section shall constitute a Class A misdemeanor, and upon conviction, the court may void any contract entered into in violation of this section. Additionally, a violation of this section shall be grounds for removal from office or employment with the participant in accordance with any applicable provisions of state law and ordinances, rules or regulations of the participant. (Ord. 94-6, passed 12-15-94)