A. No person holding any office, either by election or at appointment under the laws or constitution of the state, may be in any manner financially interested directly in his own name or indirectly in the name of any other person, association, trust, or corporation in any contract or the performance of any work in the making or letting of which such officer may be called upon to act or vote. No such officer may represent, either as agent or otherwise, any person, association, trust, or corporation with respect to any application or bid for any contract or work in regard to which such officer may be called upon to vote. Nor may any such officer take or receive, or offer to take or receive, either directly or indirectly, any money or other thing of value as a gift or bribe or means of influencing his vote or action in his official character. Any contract made and procured in violation of this section is void. This section shall not apply to any person serving on an advisory panel or commission or to any director serving on a hospital district board as provided under subsection (a-5) of section 13 of the hospital district law 2 .
B. However, any elected or appointed member of the governing body may provide materials, merchandise, property, services, or labor, subject to the following provisions under either subsection B1 or B2 of this section:
1. If:
a. The contract is with a person, firm, partnership, association, corporation, or cooperative association in which such interested member of the governing body of the municipality has less than a seven and one-half percent (71/2%) share in the ownership; and
b. Such interested member publicly discloses the nature and extent of his interest prior to or during deliberations concerning the proposed award of the contract; and
c. Such interested member abstains from voting on the award of the contract, though he shall be considered present for the purposes of establishing a quorum; and
d. Such contract is approved by a majority vote of those members presently holding office; and
e. The contract is awarded after sealed bids to the lowest responsible bidder if the amount of the contract exceeds one thousand five hundred dollars ($1,500.00), or awarded without bidding if the amount of the contract is less than one thousand five hundred dollars ($1,500.00); and
f. The award of the contract would not cause the aggregate amount of all such contracts so awarded to the same person, firm, association, partnership, corporation, or cooperative association in the same fiscal year to exceed twenty five thousand dollars ($25,000.00).
2. If:
a. The award of the contract is approved by a majority vote of the governing body of the municipality; provided, that any such interested member shall abstain from voting; and
b. The amount of the contract does not exceed two thousand dollars ($2,000.00); and
c. The award of the contract would not cause the aggregate amount of all such contracts so awarded to the same person, firm, association, partnership, corporation, or cooperative association in the same fiscal year to exceed four thousand dollars ($4,000.00); and
d. Such interested member publicly discloses the nature and extent of his interest prior to or during deliberations concerning the proposed award of the contract; and
e. Such interested member abstains from voting on the award of the contract, though he shall be considered present for the purposes of establishing a quorum.
C. In addition to the above exemptions, any elected or appointed member of the governing body may provide materials, merchandise, property, services, or labor if:
1. The contract is with a person, firm, partnership, association, corporation, or cooperative association in which the interested member of the governing body of the municipality, advisory panel or commission has less than a one percent (1%) share in the ownership; and
2. The award of the contract is approved by a majority vote of the governing body of the municipality; provided, that any such interested member shall abstain from voting; and
3. Such interested member publicly discloses the nature and extent of his interest before or during deliberations concerning the proposed award of the contract; and
4. Such interested member abstains from voting on the award of the contract, though he shall be considered present for the purposes of establishing a quorum.
D. A contract for the procurement of public utility services by a public entity with a public utility company is not barred by this section by one or more members of the governing body of the public entity being an officer or employee of the public utility company or holding an ownership interest of no more than seven and one-half percent (71/2%) in the public utility company, or holding an ownership interest of any size if the public entity is a municipality with a population of less than seven thousand five hundred (7,500) and the public utility's rates are approved by the Illinois commerce commission. An elected or appointed member of the governing body of the public entity having such an interest shall be deemed not to have a prohibited interest under this section.
E. Notwithstanding any other provision of this section or any other law to the contrary, until January 1, 1994, a member of the city council of a municipality with a population under twenty thousand (20,000) may purchase real estate from the municipality, at a price of not less than one hundred percent (100%) of the value of the real estate as determined by a written MAI certified appraisal or by a written certified appraisal of a State certified or licensed real estate appraiser, if the purchase is approved by a unanimous vote of the City Council members then holding office (except for the member desiring to purchase the real estate, who shall not vote on the question).
F. 1. For the purposes of this section only, a municipal officer shall not be deemed interested if the officer is an employee of a company or owns or holds an interest of one percent (1%) or less in the municipal officer's individual name in a company, or both, that company is involved in the transaction of business with the municipality, and that company's stock is traded on a nationally recognized securities market, provided the interested member: a) publicly discloses the fact that he or she is an employee or holds an interest of one percent (1%) or less in a company before deliberation of the proposed award of the contract; b) refrains from evaluating, recommending, approving, deliberating, or otherwise participating in negotiation, approval, or both, of the contract, work, or business; c) abstains from voting on the award of the contract, though he or she shall be considered present for purposes of establishing a quorum; and d) the contract is approved by a majority vote of those members currently holding office.
2. A County officer shall not be deemed interested if the officer owns or holds an interest of one percent (1%) or less, not in the officer's individual name but through a mutual fund, in a company, that company is involved in the transaction of business with the County, and that company's stock is traded on a nationally recognized securities market. (Ord. 2011-4, 5-10-2011)
Notes
| 1 | 1. 50 ILCS 105/3. |
| 2 | 1. 70 ILCS 910/13. |