No person shall be eligible to the office of alderman unless he is a qualified elector and resides within the ward for which he was elected nor shall he be eligible if he is in arrears in the payment of any tax or other liability due the city; nor shall he be directly or indirectly interested in any contract whatever to which the city is a party; nor shall he be eligible if he has been convicted of malfeasance, bribery or corrupt practices or crime; nor shall he be eligible to any office, the salary of which is payable out of the city treasury, if at the time of his appointment he is a member of the city council; nor shall any member of the city council at the time hold any other office under the city government; nor shall he be, either directly or indirectly, individually, or as a member of a firm, engaged in any business transaction (other than official) with the city, through its mayor or any of its authorized boards, agents or attorneys, where any money is to be paid, directly or indirectly, out of the city treasury to such member, firm or firms. (Ord. 199, 2-6-1978)