No officer or employee of the city or any of its agencies 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:
(A) The prohibition in this section shall not apply to contracts entered into before an elected officer filed as a candidate for city office, before an appointed officer was appointed to a city or one of its agencies, or before an employee was hired by the city or one of its agencies. However, if any contract entered into by a city or city agency officer or employee before he became a candidate, was appointed to office, or was hired as an employee, is renewable after he becomes a candidate, assumes the appointed office, or is hired as an employee, the prohibition contained in this section shall apply to the renewal of the contract.
(B) The prohibition in this section shall not apply if the contract is awarded after public notice and competitive bidding, unless the officer or employee is authorized to participate in establishing the contract specifications, awarding the contract, or managing contract performance after the contract is awarded. If the officer or employee has any of the authorities set forth in the preceding sentence, then the officer or employee shall have no interest in the contract, unless the requirements set forth in subpart (C) below are satisfied.
(C) The prohibition in this section shall not apply in any case where the following requirements are satisfied:
(1) The specific nature of the contract transaction and the nature of the officer’s or employee’s interest in the contract are publicly disclosed at a meeting of the governing body of the city or its agency.
(2) The disclosure is made a part of the official record of the governing body of the city or its agency before the contract is executed.
(3) A finding is made by the governing body of the city or its agency that the contract with the officer or employee is in the best interest of the public and the city or its agency because of price, limited supply, or other specific reasons.
(4) The finding is made a part of the official record of the governing body of the city or its agency before the contract is executed.
(Ord. 1994-18, passed 11-15-94)