(A) All officials and employees of the village are prohibited from soliciting, demanding, accepting or agreeing to accept directly or indirectly, from any person to which a contract might be awarded or is awarded any gift, offer of employment, rebate, money or anything of material value whatsoever, except where given for the sole use and benefit of the village.
(B) The village will not enter into a contract to furnish supplies or contractual services to the village from any village official, his or her spouse, child or parent, from any corporation, association or partnership in which any village official, his or her spouse, child or parent, has any direct or indirect interest. Ownership of less than 1% of the stock or other equity interest in a corporation or unincorporated business shall not be deemed to be a disqualifying interest. Employment by a business entity shall be deemed to be a disqualifying interest only if such employment is in an administrative, managerial or executive capacity in which the employee could in any way influence the decisions of the business entity with regard to contract proposals or other transactions contemplated by this section.
(C) Every written contract entered into by the village shall contain a provision to the effect that if subsequent to entering into the contract a village official or her spouse, child or parent has or shall become directly or indirectly interested in the contract, the village shall have the right to terminate the contract without further liability if the disqualification has not been removed with 30 days after the village has given notification of the disqualifying interest.
(Ord. 24.09, passed 6-26-23)