An officer or employee of the City who has a substantial financial interest, whether direct or indirect, or by reason of ownership of stock in any corporation, in any contract with the City, or in the sale of any land, material, supplies or services to the City or to a contractor supplying the City, shall make such interest known, either in a writing filed with the Clerk of Council or orally at a meeting of Council, and shall refrain from voting upon or otherwise participating in his capacity as a City officer or employee in the making of such sale or in the making or performance of such contract. Any officer or employee of the City who willfully conceals such a substantial financial interest or willfully violates the requirements of this section shall be guilty of malfeasance in his office or position and shall forfeit his office or position upon the conviction thereof by an affirmative vote of two-thirds of the members of the Council. The accused officer or employee shall be notified in writing of the charge against him and given an opportunity to be heard in person or by legal counsel. Such hearing shall be open to the public. The Council and the accused officer or employee shall have the power to subpoena witnesses and the production of evidence. The Clerk of Council shall have the power to issue subpoenas for witnesses and the production of evidence on behalf of the Council or the accused officer or employee and shall have the power to administer oaths. Upon the required vote to remove such officer or employee he shall forfeit his office or position of employment and such office or position shall become vacant and shall be filled in the manner provided by this Charter. Any person removed from office or employment under this section shall not be eligible to become a candidate for or hold any office in or employment with the City for a period of five years after his removal. A member of Council accused of malfeasance under this section shall not vote upon the question of his removal, and the vote required for removal of such member shall be two-thirds of the remaining members of the Council.
In the event an administrative officer or employee of the City is prevented from participating in any sale or contract by this section and this Charter or the ordinances of the City require action by the person holding his position to effect such sale or contract, or the performance thereof, the Council, by motion, may designate another officer or employee of the City to act in his place in order to effect such sale or contract, or the performance thereof.
Violation of this section with the knowledge express or implied of the person or corporation contracting with or making a sale to the City shall render the contract or sale voidable by the Council.
It is intended by the Charter Commission and the electors of the City, by their approval of this Charter, that this Charter shall be the only limitation upon financial interests of officers and employees of the City in contracts with and expenditures by the City, and that the general laws of the State of Ohio, whether pertaining to removal from and forfeiture of office, criminal offenses, or other related matters, shall not be applicable to officers and employees of the City.