(A) No member of the City Council and no city employee shall have a financial interest in the sale to the city of any land, materials, supplies or service, outside of the person's position with the city. Any person having an interest shall be ineligible for election as a City Council member or appointment as a city employee, and any City Council member or city employee who acquires an interest shall forfeit the office or employment. Any violation of this division with the actual or constructive knowledge of the City Council member or employee shall render the contract voidable by the City Manager or the City Council.
(B) In division (A) above, the term SALE TO THE CITY includes a sale to city-sponsored entities and organizations subject to substantial control by the city in one or more of the following respects:
(1) All or a majority of the governing body of the entity or organization is appointed by the City Council;
(2) The city provides more than one-half of the operating funds of the entity or organization;
(3) The city has approval authority over purchasing decisions made by the entity or organization;
(4) The city has approval authority over bonds or other indebtedness issued by the entity or organization; or
(5) The city has approval authority over the budget of the organization.
(C) This section does not apply to acquisition of property by the city as a result of eminent domain proceedings or the threat of eminent domain proceedings.
(Ord. 2019-01-O, passed 1-15-2019)