(A) Interest in business subject to town regulation.
(1) Required. Every appointed or elected officer or municipal employee who is an officer, director, agent or employee or the owner of a substantial interest in any business entity which is subject to the regulation of the town, shall disclose the position held and the nature and value of his or her interest upon first becoming appointed, elected or employed by the town and again at any time thereafter if the elected or appointed officer or employee’s position in the business entity has changed significantly or if the value of his or her interest in the entity has increased significantly since the last disclosure.
(2) Disclosure statement. The disclosure shall be made in a sworn statement filed with the Mayor. The Mayor shall report the substance of all such disclosure statements to the members of the Town Council or may provide to the members of the Town Council, copies of the disclosure statement within 30 days after the statement is received by him or her.
(3) Exceptions. This section does not apply to instances where the value of the interest does not exceed $2,000. Life insurance policies and annuities shall not be considered in determining the value of any such interest.
(4) Form. The disclosure statement required by this section may be in substantially the following form:
Disclosure Statement State of Utah County of Millard The undersigned, being first duly sworn, deposes and states: 1. Office. I am (name and office) of Oak City, and my address is , Oak City, Utah. 2. Involvement with business entities. Below are listed all business entities which are: 1) subject to regulation by Oak City; and 2) of which the undersigned is an officer, director, agent, employee or owner of an interest therein valued in excess of $2,000.00. a. Name of business entity: Position held: Projected annual income1: Projected value of interes2: b. Name of business entity: Position held: Projected annual income1: Projected value of interes2: c. Name of business entity: Position held: Projected annual income1: Projected value of interes2: d. Name of business entity: Position held: Projected annual income1: Projected value of interes2: 1 Represents salary, wages, commissions or fees reasonably anticipated in coming year, if an officer, director, employee or agent of business entity, or return thus anticipated if investor in business entity. 2 Represents estimated present fair market value of interest in business entity, in the case of an investment including pension plan, but not including insurance or annuities. 3. Nature of involvement. The following more fully describes the nature of my interest in the above-listed business entities, which are referred to by the same letters as in the previous item. a. b. c. d. My commission expires: The above statements are made as of the day of Subscribed and sworn to before me on this day of Notary public: Residing in: |
(Prior Code, § 1-6A-6)
(B) Interest in business doing business with town.
(1) Disclosure required. Every appointed or elected officer or employee who is an officer, director, agent, employee or owner of a substantial interest in any business entity which does or anticipates doing business with the town, shall publicly disclose, to the members of the body of which he or she is a member, or by which he or she is employed, immediately prior to any discussion by such body, concerning matters relating to such business entity, the nature of his or her interest in that business entity.
(2) Statement entered in minutes. The disclosure statement shall be entered in the minutes of the meeting.
(3) Manner of disclosure. Disclosure by a municipal employee under this section is satisfied if the employee makes the disclosure in a manner required by division (A) above and § 32.24 of this chapter.
(Prior Code, § 1-6A-7)
(Ord. 1993-01, passed 4-15-1993)