It is hereby declared to be the policy of this City that municipal officials and employees shall impartially and faithfully exercise their official functions without the influence of private interest and that:
(a) All elected officers of the City, or employees of the City or members of any Board or Commission of the City, whether directly or indirectly:
(1) Shall not be interested in any contract with the City;
(2) Shall not be interested in any contract, work or service, or in any acquisition by the City of any property, other than by condemnation, the cost of which is payable from City funds or in any purchase of any property from the City;
(3) Shall not have any interest in, other than their fixed compensation and reimbursable expenses, any expenditure of funds by the City;
(4) Shall not ask, demand, or receive any private compensation or reward for the performance of their public duties.
(b) No person within a period of one year after termination of his services as Mayor, member of Council, or as an officer or employee of the City or as a member of any Board or Commission of the City shall accept private employment or receive private compensation for services, whether as attorney, agent, or employee, with respect to any matter which was under his charge during the period of such service.
(c) Any officer or employee of the City, or member of any Board or Commission of the City, who has a financial interest in any business, firm or corporation affected by any legislation or other matter pending before any City agency of which he is a member or employee, or who has any other private interest in any such legislation or pending matter, shall not vote upon or take any other official action with respect to the legislation or pending matter.
(d) All persons who are appointed to offices, boards or commissions shall, within thirty (30) days after such appointment, and thereafter annually on or before April 15 of every calendar year, file with the Ohio Ethics Commission whatever financial disclosure statement that State law, in effect at such time, requires such person to file.
(e) Any City officer or employee or member of any Board or Commission of the City who willfully conceals such a financial interest or willfully violates the requirements of this section shall be guilty of malfeasance in office or position and shall forfeit his office or position. Violation of this section with the knowledge expressed or implied of the person or corporation contracting with or making a sale to the City, shall render the contract or sale voidable by the Council.
(f) No person shall be deemed to be interested in any contract or expenditure of funds by the City by reason of being a shareholder of a corporation doing business with the City if he owns less than five (5) percent of the stock of such corporation. (Enacted 11-3-70; Amended 11-4-75; 11-6-90)