No village official or employee shall make or participate in the making of any governmental decision with respect to any matter in which he or she has any financial interest distinguishable from that of the general public, or from which he or she has derived any income or compensation during the preceding 12 months or from which he or she reasonably expects to derive any income or compensation in the following 12 months.
(A) Any elected or appointed official who has any financial interest distinguishable from that of the general public or elected or appointed officials in any matter pending before the Village Board or any board committee or commission, or from which he or she has derived any income or compensation during the preceding 12 months or from which he or she reasonably expects to derive any income or compensation in the following 12 months shall publicly disclose the nature and extent of such interest on the records of proceedings of the Village Board, and shall also notify the Village Clerk of such interest within 96 hours of delivery by the Village Clerk to the member, of the introduction of any ordinance, resolution, order or other matter to be considered by the Village Board, or as soon thereafter as the member is or should be aware of such potential conflict of interest. The Village Clerk shall make such disclosures available for public inspection and copying immediately upon receipt. He or she shall abstain from voting on the matter but shall be counted present for purposes of a quorum. The obligation to report a potential conflict of interest under this subsection arises as soon as the member of the Village Board is or should be aware of such potential conflict.
(B) To avoid even an appearance of impropriety, any elected or appointed officials who has any business relationship that creates a financial interest on the part of such member, the domestic partner or spouse of such member, or an adult child, with a person or entity with a matter pending before the Village Board or any village committee or commission, or from whom or which he or she has derived any income or compensation during the preceding 12 months or from whom or which he or she reasonably expects to derive any income or compensation in the following 12 months, shall publicly disclose the nature of such business relationship or income or compensation on the records of proceedings of the Village Board, and shall also notify the Village Clerk of such relationship within 96 hours of delivery by the Village Clerk to the member, of the introduction of any ordinance, resolution, order or other matter before the Village Board, or as soon thereafter as the member is or should be aware of such potential conflict of interest. The Village Clerk shall make such disclosures available for public inspection and copying immediately upon receipt. He or she shall abstain from voting on the matter but shall be counted present for purposes of a quorum. The obligation to report a potential conflict of interest under this subsection arises as soon as the member of the Village Board is or should be aware of such potential conflict. For purposes of this subsection (B) only: "matter pending before the Village Board or any council committee" shall refer to any action involving the award of loan funds, grant funds or bond proceeds, bond inducement ordinances, leases, land sales, zoning matters, or the creation of tax increment financing districts.
(Ord. 96-0-009, passed 2-20-96; Am. Ord. 2017-O-010, passed 2-21- 17) Penalty, see § 39.99