No public official or employee of the City shall voluntarily acquire any interest, direct or indirect, in any urban renewal project or in any property included or planned to be included in any urban renewal project of such City or in any contract or proposed contract in connection with such urban renewal project. Where such acquisition is not voluntary, the interest acquired shall be made known immediately and the information transmitted in writing to Council and such disclosure shall be entered upon the minutes of Council. If any such official, commissioner or employee presently owns or controls, or owned or controlled within the preceding two years, any interest, direct or indirect, in any property which he knows is included or planned to be included in any urban renewal project, he shall immediately disclose this fact in writing to Council, and such disclosure shall be entered upon the minutes of Council and any such official, commissioner or employee shall not participate in any action by the City affecting such property.
(Ord. 170-04. Passed 3-23-04.)