Sec. 47.  Personal interest.
   No member of Council or any officer or employee of the Municipality shall have a financial interest, direct or indirect or by reason of ownership of stock in any corporation, in any contract or in the sale to the Municipality or to a contractor supplying the Municipality of any land or rights or interests in any land, material, supplies or services. Any willful violation of this section shall constitute malfeasance in office, and any officer or employee of the Municipality found guilty thereof shall thereby forfeit his office or position. Any violation of this section with the knowledge express or implied of the person or corporation contracting with the Municipality shall render the contract voidable by the Manager or the Council.