No officer, board member, or employee of the city or any city agency 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 city agency office, before a board member was appointed to a city board, or before an employee was hired by the city or a city agency. However, if any contract entered into by a city or city agency officer, employee, or board member before he or she became a candidate, became a board member, was appointed to office, or was hired as an employee, is renewable after he or she becomes a candidate, assumes the appointed office, or is hired as an employee, the prohibition 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, board member, 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 division (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, board member’s, or employee’s interest in the contract are publicly disclosed at a meeting of the governing body of the city or city agency;
(2) The disclosure is made a part of the official record of the governing body of the city or city agency before the contract is executed;
(3) A finding is made by the governing body of the city or city agency that the contract with the officer, board member, or employee is in the best interests of the public and the city or city agency because of price, limited supply or other specific reasons; or
(4) The finding is made a part of the official record of the governing body of the city or city agency before the contract is executed.
(1996 Code, § 43.11) (Ord. 2048, passed 12-6-1994; Ord. 2507, passed 12-1-2020) (Ord. 2048, passed 12-6-1994) Penalty, see § 43.999