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Members of Council shall be electors of the City of Ironton. They shall not hold any other public office, except that of notary public, political party committee member or member of the State Militia, and shall not be interested in the profits or emoluments of any contract, job, work or service for the City of Ironton. They shall not otherwise be in the employ of the City of Ironton. Any member who ceases to possess any of the qualifications required by this section shall immediately forfeit the office. Any contract in which any such member is or becomes interested shall be void.