(A) No officer or employee of the City shall have a financial interest, direct or indirect, in any contract with the City except as allowed under Chpt. 171, Texas Local Government Code and any other applicable state law. Any violation of this provision with the knowledge, express or implied, of the person or corporation contracting with the City shall render the contract voidable by the City Manager or the City Council.
(B) The City Council shall adopt an ethics code.