The general laws of Ohio shall be applicable under this Charter concerning prohibited interests by officers and employees of the Municipality in any contract or expenditure made by the Municipality. Willful violation of such laws shall constitute malfeasance in office, and an offending officer or employee may be removed from office or the position of employment held with the Municipality. If the contractor knows or should reasonably have known of such prohibited interest at the time the contract was made, the Manager or the Council by a motion adopted by a majority vote of its members, may void the contract.