No member of the Town Council or any officer or employee of the town shall have a financial interest in any contract or in the sale to the town or to a contractor supplying the town of any land or rights or interests in any land, material, supplies or services; except when a majority of the Town Council determines such exception is in the best interest of the town, provided, that no Council member whose interest is involved shall vote on the question. Any willful violation of this section shall constitute malfeasance in office, and any officer or employee of the town found guilty thereof shall thereby forfeit his or her office or position. Any violation of this section with the knowledge, express or implied, of the person or corporation contracting with the town shall render the contract voidable by the Town Council.
(Prior Code, § 8.308)