Any City officer, official or employee who, by reason of employment with, ownership or investment in any business, has a direct or indirect financial interest in: (a) any contract with the City; (b) the sale of any land, material, supplies or services from or to the City; or (c) a contractor or vendor supplying the City, must make known any and all such interests and must refrain from voting upon or otherwise participating in any capacity in the making of such sale or performance of such contract. Any City officer, official or employee who knowingly and willfully conceals such financial interest shall be guilty of malfeasance in office or position and will forfeit their office or position. Violation of this section with the knowledge, express or implied, of the person or corporation contracting with or making a sale to the City shall render the contract or sale voidable by Council. The term "ownership" does not include an ownership or investment interest constituting not more than 1% interest in a publicly traded corporation.
(Enacted 11-04-2008) (Amended 11-6-18)