Any member of Council or any other officer or employee of this Municipality who has a substantial financial interest, direct or indirect, or by reason of ownership of stock in any corporation, in any contract with the Municipality or in the sale of any land, material, supplies, or services to the Municipality or to a contractor supplying the Municipality shall make known that interest and shall refrain from voting upon or otherwise participating in his capacity as a municipal officer or employee in the making of such sale or in the making or performance of such contract. Any municipal officer or employee who willfully conceals such a  substantial financial interest or willfully violates the requirements of this section shall be guilty of malfeasance in office or position and shall forfeit his office or position. Violation of this section with the knowledge, express or implied, of the person or corporation contracting with or making a sale to the Municipality shall render the contract or sale voidable by the Council or the Municipal Administrator.
   No members of Council or any other elected or appointed officials of the Municipality of Waterville shall hold any other elected or appointed offices with the Municipality or be otherwise employed by the Municipality.  Appointed office, as used in this section and in Sections 7.02, 7.03, 7.04 and 10.03 shall include positions on the Council, Planning Commission, Board of Zoning and Building Appeals, Civil Service Commission, and Charter Review Commission, but shall not include advisory or study committees that may be established from time to time by the Mayor, Council, or Administrator.  (Amended 11-2-71; 11-3-87; 11-6-12; 11-7-17)