No officer or employee of the Municipality shall have any substantial financial interest, direct or indirect, in any contract with or sale to the Municipality, of any materials, supplies, or services, or any lands or interest in lands. Any such person knowingly violating the provisions hereof shall be deemed guilty of malfeasance in office; and any such contract or sale shall be voidable at the option of the Council.
This provision shall not apply where a Court shall order the purchase or sale of property, whether real or personal, owned by, or in which an officer or employee has an interest therein, by the Municipality. No ordinance, resolution, or other action taken by the Council, nor any action taken by any other officer or employee of the Municipality shall be invalidated or made ineffective because any such officer or employee has such a financial interest in any such contract or sale; except that such sale or contract may be voided at the option of the Council as hereinbefore provided.