(A) No person shall be eligible for the office of Alderman unless he is a qualified elector, and resides within the ward for which he was elected; nor shall he be eligible if he is in arrears in the payment of any tax or other liability due the city or if he is unlawfully interested in any contract to which the city is a party; nor shall he be eligible if he has been convicted of malfeasance, bribery or corrupt practices or crime; nor shall he be eligible for any office for which the salary is payable out of the City Treasury, if at the time of his appointment to the office he is a member of the City Council; nor shall he be unlawfully engaged in a business transaction (other than official) with the city through its Mayor or any of its authorized boards, agents, or attorney, whereby any money is to be paid directly or indirectly out of the City Treasury to such members or firms, except as may be authorized by law.
(B) Each Alderman shall execute a bond, with security, payable to the city, in the penal sum of $100, conditioned upon the faithful performance of the duties of his office and the payment of all moneys received by him according to law and the ordinances of the city, before entering upon the duties of his office, and such salary as determined by the City Council
(‘69 Code, § 2-26) (Ord. passed 4-25-61; Am. Ord. 85-0-3, passed 1-28-85)