No officer or employee shall be, directly or indirectly, interested in any contract, work or business of the city, or in the sale of any article, the expense, price or consideration of which is paid for from the treasury, or by assessment levied by any act or ordinance; nor in the purchase or lease of any real estate or other property belonging to the city, or which shall be sold for taxes or assessments, or by virtue of legal process at the suit of the city. No officer shall be, directly or indirectly, in the employ of any public service corporation operating under franchise from the city, or of any person having any contract with the city, or any grantee of a franchise granted by the city.
Any contract or agreement in contravention of this section shall be void.
Any violation of the provisions of this section shall be deemed a misdemeanor.
The mayor and council shall enforce the provisions of this section by appropriate legislation.