Any City officer or employee or member of any board or commission who has a financial interest, direct or indirect, or by reasons of ownership of stock of five percent (5%) or more in any corporation, in any contract with the City or in the sale of land, materials, supplies or services to the City or to a contractor supplying the City shall make known that interest and shall refrain from voting upon or otherwise participating in the making of such sale or in the making or performance of such contract. Any person who willfully violates any prohibition of this section and, after a hearing by Council is so declared as having violated it, shall forfeit said person's office or position upon resolution by Council, pursuant to Section 4.08(b). Violation of this section with the knowledge, actual or constructive, of the person or corporation contracting with or making a sale to the City shall render the contract or sale voidable by the Manager or the Council.
(Amended Nov. 3, 1998)