(A) Any member of the commission who owns or controls any interest direct or indirect in any property included in any industrial development commission project shall disclose the same in writing to the commission and such disclosure shall be entered upon the minutes book of the commission.
(B) No member of the commission shall vote or act on any project in which said member holds an interest.
(C) No employee of the commission shall acquire any interest, direct or indirect, in any industrial development commission project or in any property included or planned to be included in any industrial development commission project.
(D) If the city council of the city determines that any commission member has acquired an interest that is adverse to the best interests of the city, the city council may require said member to divest himself of said property or interest, or take what other steps are necessary to assure compliance with this section.
(E) In the event of a conflict between the provisions of this chapter or in the event that a matter not covered by this chapter shall arise, the provisions regarding conflicts of interest as set forth in 50 Illinois Compiled Statutes 105/3 et seq., shall control. (Ord. 709, 2-5-1990)