No officer or employee of the city shall have a financial interest, direct or indirect, in any contract with the city, or be financially interested, directly or indirectly, in the sale to the city of any land, materials, supplies, or services, except on behalf of the city as an officer or employee. An officer or an employee of a bank that serves as the city’s depository bank shall be deemed not to have a financial interest in the city’s contract. Any willful violation of this section shall constitute malfeasance in office, and any officer or employee found guilty thereof shall thereby forfeit his office or position. Any violation of this section, with the knowledge, expressed or implied, of the person or corporation contracting with the City Council, shall render the contract involved voidable by the city manager or the City Council.
(Ord. 16797, § 1(XVIII), 1-24-2006, approved 5-13-2006)