An elected or appointed city officer or employee who is authorized to take part in any manner in a city contract or non-contractual action before the Council may not have a personal financial interest in such contract or other non-contractual action matter, or personally benefit from it, except as permitted by law. The Council must adopt a code of ethics ordinance governing the official conduct of all elected and appointed officials. The Council may take whatever action it deems appropriate after finding that this ethical code has been violated, including disqualifying an official from voting on a particular matter.