In the event a Common Council member would be required to take any action that would directly affect the financial interest of that member other than an interest of minimal nature or an interest that is not distinct from that of the general public, the member shall either explain the potential conflict and ask that he be excused from voting, deliberating or taking action on the matter, or explain the potential conflict and state why he is able to participate fairly, objectively and in the public interests despite the personal conflict.
('71 Code, § 29.02(K)) (Ord. 48-85, passed - - 85; Am. Ord. 288, passed 2-22-88)