Any municipal officer or employee who has a substantial financial interest, direct or indirect or by reason of ownership of stock in any corporation, in any contract with the municipality or in the sale of any land, material, supplies or services to the municipality, shall make known that interest and shall refrain from voting upon or otherwise participating, in his capacity as such officer or employee, in the making of such sale, or in the making or performance of such contract. Any officer or employee who willfully conceals such a substantial financial interest or willfully violates the requirements of this section is guilty of malfeasance in office and upon conviction shall forfeit his or her office or position.
(Amended 11-6-01)