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Except as authorized by law, no city officer shall be interested directly or indirectly, in his or her own name or, in the name of any other person, association, trust or corporation, in any contract work or business of the city, or in the sale of any article, whenever the expense, price or consideration of the contract, work business, or sale is paid either from the treasury or by any assessment levied by any statute or ordinance. Except as authorized by law, no city officer shall be interested, directly or indirectly, in the purchase of any property which:
(A) Belongs to the city;
(B) Is sold for taxes or assessments; or
(C) Is sold by virtue of legal process as the suit of the city.
(1980 Code, § 13.1625)